Taking to Instagram, Janhvi shared a clip featuring herself, Varun Dhawan, Rohit Saraf, Sanya Malhotra, Karan Johar and other actors participating in a pooja ceremony
entertainment1 hour ago
The Saudi Egyptian Investment Co (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), has bought minority stakes in four Egyptian companies for $1.3 billion, Egypt's planning ministry said on Wednesday.
The companies are Abu Qir Fertizilers and Chemical Industries, Misr Fertilizers Production Company , Alexandria Container and Cargo Handling, and payments firm E-Finance for Financial and Digital Investments.
Egypt is one of the fastest-growing economies in the Middle East and North Africa, the PIF said in a separate statement.
"The acquisitions are in line with SEIC’s objective to invest in promising sectors."
Egypt's government announced in April it was seeking to attract investments of $10 billion in each of the coming four years, part of a programme to increase private participation in the economy.
Egypt has been grappling to finance its budget deficit amid high interest rates, a weak currency and broad investor wariness of emerging markets, particularly after the US Federal Reserve began raising interest rates and the Ukraine war pushed up commodity prices and reduced tourism revenue.
Saudi Arabia has already provided billions in support since Egyptian President Abdel Fattah Al Sisi came to power in 2014. The UAE, Qatar and Kuwait this year all promised to increase their investments in Egypt.
The Egyptian stock exchange, without mentioning the buyer, listed just over $1.3 billion in block trades on Wednesday.
These included 462.2 million shares in state-controlled E-Finance for 7.50 billion Egyptian pounds ($393 million). In October, 257.8 million shares, or 23.5 per cent of the company, were sold to private investors in a initial public offering.
Another 57.3 million shares of Misr Fertilizers Production Company (MOPCO) sold for 7.10 billion Egyptian pounds and 250.1 million shares of Abu Qir Fertilizers for 7.27 billion Egyptian pounds.
Some 298 million shares of Alexandria Container sold for 3.02 billion Egyptian pounds. — Reuters
Taking to Instagram, Janhvi shared a clip featuring herself, Varun Dhawan, Rohit Saraf, Sanya Malhotra, Karan Johar and other actors participating in a pooja ceremony
entertainment1 hour ago
The resident juridical taxable persons include entities incorporated in the UAE including free zone businesses
business1 hour ago
Around 33 million students will return to schools, which will hold classes on Saturdays until further notice
world1 hour ago
This came after Netanyahu's government announced the closure order for an initial period of 45 days
mena1 hour ago
Maximising benefits and unlocking strategies
business1 hour ago
Campbell's decision to depart the franchise in June 2022 stemmed from feeling inadequately compensated for reprising her role as Sidney Prescott in the sixth instalment
entertainment1 hour ago
Dubai developer Aark unveils Dh4 billion project on Al Marjan Island
business1 hour ago
It's a carefully orchestrated affair with its own set of rules
entertainment1 hour ago