Egypt In-Focus — Foreign minister urges Danish counterpart to bolster investments in the country 

Egyptian Foreign Minister Sameh Shoukry has raised the need to swiftly alter some climate-related targets during the ministerial meeting on climate. (AFP)
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Updated 15 May 2022
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Egypt In-Focus — Foreign minister urges Danish counterpart to bolster investments in the country 

RIYADH: While the Egyptian foreign minister urged his Danish counterpart to boost investment in the country, the minister of the environment is in talks with the German state secretary to aid farmers deal with climate change impacts on agriculture. 

In addition to this, the North African country’s government is set to address the global economic crisis at an international press conference early this week. Meanwhile a significant percentage of the $819 million “Knowledge City”  has been reported to be completed. 

·     Egyptian Foreign Minister Sameh Shoukry has raised the need to swiftly alter some climate-related targets during the ministerial meeting on climate, the local newspaper Egypt Today reported.

In addition to this, the minister also discussed with Denmark’s minister of foreign affairs Jeppe Kofod potential partnerships between both countries focusing on bolstering Danish investment in the North African country. Egypt will raise these issues during the UN Climate conference, or COP27, which it will host later this year.

·      Egypt’s Minister of Environment Yasmine Fouad discussed ways with the German state secretary to support farmers to adapt to climate change impacts on agricultural crops, Meed reported. 

In an attempt to curb unwanted impacts on the crops, both parties suggested having an early alarm system in the agricultural field that aids farmers predict climate fluctuation. 

·      An estimated significant percentage of Egypt’s 15 billion Egyptian pounds ($819 million) “Knowledge City” has been completed, Egypt Today reported, citing the ministry of communications and information technology. 

Located in the New Administrative Capital, the project is spread over an area of 200 acres.

·      The Egyptian government has announced that it will host an international press conference early this week to address the global economic crisis alongside schemes to lure foreign investments to the country, according to Egypt Today. 


Stc Group issues US dollar-denominated sukuk with a total value of $2bn

Updated 09 January 2026
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Stc Group issues US dollar-denominated sukuk with a total value of $2bn

RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.

The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.

It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.

The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy. 

This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.

This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position. 

It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.