Iraq and Egypt eye enhanced IT cooperation

Amr Talaat. (Social media)
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Updated 20 June 2021
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Iraq and Egypt eye enhanced IT cooperation

  • Talaat underlined the depth of Egyptian and Iraqi relations and stressed the directives from the political leaders of the two countries to intensify joint cooperation

CAIRO: Iraq and Egypt discussed improved cooperation in the fields of communications and IT at a meeting between Amr Talaat, the Egyptian minister of communications and information technology, and his Iraqi counterpart, Arkan Shihab, on Thursday.

Shihab was leading a high-level delegation to Egypt that included government officials and representatives of the Iraqi private sector.

The two ministers chaired a meeting that included executive leaders from both sides, where they discussed mechanisms to boost cooperation, exchange experiences and stimulate joint initiatives in related fields, which were included in an MoU signed between the two countries.

The MoU covered the areas of infrastructure, digital transformation, capacity building, postal services, Arab digital content, innovation and entrepreneurship, cybersecurity research and development and investment in the field of communications, IT and satellites.

Talaat underlined the depth of Egyptian and Iraqi relations and stressed the directives from the political leaders of the two countries to intensify joint cooperation.




President Abdel Fattah El-Sisi has  directed Egypt’s government to offer required support to enhance cooperation with Iraq.

There was agreement on a proposal submitted by the Iraqi minister to establish an Egyptian-Iraqi company to start digital transformation projects and the digitization of services in Iraq. A joint team will develop the idea and implement it, Talaat said.

He said a joint committee will be formed to oversee cooperation plans and added that he has accepted the invitation to visit Iraq. He highlighted Egyptian companies’ aspiration to work in the Iraqi market.

Talaat said he and his Iraqi counterpart reviewed the areas of cooperation that had been agreed upon during their meeting with the Egyptian Prime Minister Mostafa Madbouli.

Madbouli hailed Egyptian-Iraqi cooperation in the communication sphere, highlighting President Abdel Fattah El-Sisi’s directives to the government to offer required support to enhance relations with Iraq.

Shihab said there is a political will to establish real partnerships and open horizons for cooperation between Cairo and Baghdad, given the strategic importance of the two countries.


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.