Israel’s contractual approval of Germany’s sale of submarines to Egypt was required in order for ThyssenKrupp to complete the agreement with Egypt, document obtained by Yedioth Ahronoth showed. This is causing a controversy in Israel as Prime Minister Benjamin Netanyahu had denied responsibility for “approving” the sale and said it was not Israel’s decision. As mentioned in our issue on Thursday, Israeli defense officials had objected to the agreement. Israel is particularly concerned about the most recent sale of the submarines because they “were equal in capabilities to those sold to Israel.”
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…