Economy

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

UAE Egypt’s top trading partner in Middle East with $4.11 billion trade

By TRENDS Desk
June 28, 2021 5:00 am

    • The UAE is also the largest foreign investor in Egypt, as it contributes to projects with capital exceeding $7bn

    • Egypt’s exports to the UAE were $2.882bn in 2020, compared to $2.51bn in 2019

    The volume of trade between Egypt and the United Arab Emirates shot up to $4.11 billion in 2020, compared to $3.356 billion in 2019, according to the Egyptian minister of trade and industry Nevine Gamea.

    This has made the UAE the largest trading partner of Egypt, the minister added.

    The UAE is also the largest foreign investor in Egypt, as it contributes to projects with capital exceeding $7bn.

    Egypt’s exports to the UAE were $2.882bn in 2020, compared to $2.51bn in 2019.

    On Sunday Gamea met with Hamad Saeed Al Shamsi, the UAE’s new Ambassador to Egypt, to discuss enhancing cooperation between the two countries in economic cooperation.

    Most Read

    Environment Agency – Abu Dhabi issues marine water quality policy

    ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

    Energy, commodity prices hurt profits of GCC firms

    GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

    Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

    Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

    ADNOC L&S to expand fleet

    It will acquire 11 carriers for $1.3bn.

    3 ways travel drives economic growth while enhancing global connections and sustainability

    WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and tourism has recovered and is set to reach new heights.…