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Finalising procedures of $3bn loan in June: EGPC Chairman

Work is being finalised on the procedures of obtaining a $3bn loan from the Islamic Development Bank (IDB), allocated to the Egyptian General Petroleum Corporation (EGPC). The procedures for the loan are set to be completed by June, said Chairman of EGPC, Tarek El-Mulla, adding that the IDB loan will be issued due to a …

Mohamed Adel

Gulf alliances: Regional states hedge their bets

By James M. Dorsey The current Saudi-led intervention in Yemen, designed to prevent Iranian-backed forces from gaining power, symbolises the Gulf’s new assertiveness. This is unfolding as the various Gulf states seek to hedge their bets with different strategies that complement rather than replace the regional US security umbrella. Qatar, this month, signed a military …

Daily News Egypt