{"id":659693,"date":"2025-01-30T00:00:00","date_gmt":"2025-01-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/30\/madbouly-oversees-signing-of-12-egypt-iraq-cooperation-agreements-in-baghdad\/"},"modified":"2025-01-30T00:00:00","modified_gmt":"2025-01-30T00:00:00","slug":"madbouly-oversees-signing-of-12-egypt-iraq-cooperation-agreements-in-baghdad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/30\/madbouly-oversees-signing-of-12-egypt-iraq-cooperation-agreements-in-baghdad\/","title":{"rendered":"Madbouly oversees signing of 12 Egypt-Iraq cooperation agreements in Baghdad"},"content":{"rendered":"

Good afternoon, friends, and congratulations on making it to the weekend. <\/strong>We\u2019ve got a full issue for you to round out your week \u2014 let\u2019s dive in.<\/p>\n

THE BIG STORY TODAY<\/p>\n

#1- Prime Minister Moustafa Madbouly touched down in Baghdad today to <\/strong>attend the <\/strong>Egyptian-Iraqi Joint Higher Committee,<\/strong> where the PM and his Iraqi counterpart Mohammed Shia' Al Sudani are helming investment discussions and will chair a high-profile economic forum bringing together business leaders from both countries, according to a cabinet statement<\/a>. <\/p>\n

Twelve cooperation agreements have been signed so far: <\/strong>The PM oversaw the signing of 12 cooperation agreements in the areas of land transport, anti-monopolistic practices, local development, antiquities, trade standardization, municipalities, ICT, financial markets, grain silos, national archives, national culture, and commerce. <\/p>\n

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#2- <\/strong>CIRA Education<\/strong> saw its net income rise 87% y-o-y during the company\u2019s 1Q ending <\/strong>30 November 2024, <\/strong>with the education outfit\u2019s bottom line soaring to EGP 181.7 mn according to CIRA\u2019s latest earnings release (pdf)<\/a>. Revenues for 1Q also saw significant growth, rising 44% y-o-y to some EGP 1.02 bn off the back of higher enrollment rates across higher education institutions, K-12 schools, and nurseries, alongside the company\u2019s ongoing expansion drive.<\/p>\n

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#3- Private equity firm <\/strong>RMBV<\/strong> plans to invest USD 100 mn in Egypt in 2025<\/strong>, targeting minority stakes in 4-5 midsized companies, Asharq Business<\/a> reports. The firm is particularly interested in investments in the industrial sector, with a focus on food production, medical tourism, and businesses that specialize in exports or import substitution. \u201cOur investment strategy is based on acquiring stakes ranging from 20% to 40% in each company,\u201d Managing Partner Ahmed Badreldin told the outlet.<\/p>\n

THE BIG STORY ABROAD<\/p>\n

The <\/strong>deadly collision<\/a><\/strong> of an American Airlines passenger jet carrying 64 people with a US <\/strong>a<\/strong>rmy Black Hawk helicopter <\/strong>is the main story on int\u2019l headlines today, with most if not all passengers believed to be deceased after the plane plunged into the icy waters of the Potomac River following impact. The accident occurred as the jet was on course to land at Reagan Washington National Airport in Washington, DC. An official death toll has not yet been released, with the US Pentagon reportedly set to open an investigation into the incident.<\/p>\n

Closer to home, Hamas <\/strong>has handed over<\/a><\/strong> three Israeli detainees today, <\/strong>per the conditions of its ceasefire agreement with Israel. Under the terms of the agreement, Israel should release 110 Palestinian prisoners once the three Israeli detainees are received.<\/p>\n

AND IN BUSINESS NEWS- Japanese tech investor SoftBank <\/strong>is in talks<\/a> with OpenAI to invest up to USD 25 bn in the company,<\/strong> a sum that would make these Japanese firm the ChatGPT-maker\u2019s largest backer, the Financial Times reports. The news comes a week after it was announced that the two companies would be teaming up to helm<\/a> AI infrastructure initiative Stargate, the salmon-colored paper writes.<\/p>\n

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