Egypt agrees to buy up to 160 LNG cargoes through 2026, sources say
(Reporting by Marwa Rashad in London; Additional reporting by Mohamed Ezz in Cairo; Editing by Nina Chestney)

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India's government plans to ban online games played with money, a proposed bill showed on Tuesday, in what would be a heavy blow for an industry that has attracted billions of dollars of foreign investment. Citing psychological and financial harm it says can be caused by such games, the Promotion and Regulation of Online Gaming Bill 2025 says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services. The 13-page bill, which has not yet been made public but has been reviewed by Reuters, describes an online money game as one played by a user by depositing money in expectation of winning monetary and other enrichment. The Indian market for such gaming is set to be worth $3.6 billion by 2029, venture capital firm Lumikai says. Endorsements by top Indian cricketers and other marketing efforts have boosted appeal and investor interest of real money gaming apps such as the popular fantasy cricket games operated by startups Dream11 and Mobile Premier League. Dream11 commands a valuation of $8 billion while Mobile Premier League is valued at $2.5 billion, PitchBook data shows. The Indian government has long been concerned about how such games are addictive. India's IT ministry, which has drafted the bill, did not immediately respond to a request for comment. MPL and Dream11 declined to comment. In fantasy cricket games on Dream11, users create their teams by paying as little as 8 rupees (10 US cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The apps become more popular during the Indian Premier League season, one of the world's most popular cricket tournaments. The bill states that anyone who offers such money games could face a jail term of up to three years and a fine. "Such games often use manipulative design features, addictive algorithms ... while promoting compulsive behaviour leading to financial ruin," the bill said.


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Egypt, Japan sign 12 investment agreements covering strategic sectors
Egypt and Japan have signed 12 agreements and letters of intent in various strategic sectors during the Egyptian-Japanese Investment Forum, held on August 18th, in Yokohama, in the presence of Prime Minister Mostafa Madbouly, as per a statement. The agreements, announced on the sidelines of Madbouly's participation in the ninth Tokyo International Conference on African Development (TICAD 9), aim to boost bilateral investment, deepen local production, and enhance supply chains, exports, and trade with neighboring markets. The agreements covered sectors such as education, renewable energy, industry, infrastructure, tourism, logistics, and information technology. Among the most notable deals was an agreement between the Ministry of Education and Technical Education and the Tokyo Metropolitan Government to cooperate on technical and vocational education, alongside a separate partnership with Casio Middle East to support mathematics teaching. Additional agreements were signed with Yamaha Corporation to enhance music education in 100 schools and with Japanese company SPRIX to develop math and IT curricula modeled on the Japanese system. In the energy sector, the Suez Canal Economic Zone (SCZone), Itochu Corporation, and Orascom Construction agreed to develop green fueling facilities for ammonia-powered ships, while the authority also signed with the Tokyo Metropolitan Government to cooperate on green hydrogen projects. Toyota Tsusho Corporation signed two agreements: one with Egypt's Ministries of Industry and Investment to localize automotive manufacturing and another with the Egyptian-Japanese University of Science and Technology to support scholarship programs. Other agreements included partnerships in tourism and hospitality training, technology transfer, research and development, and manufacturing of electronics and visual devices. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (


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Egypt: Contact's consolidated net profits fall in H1-25
Contact Financial Holding generated consolidated net profits after tax amounted to EGP 178.21 million during the first half (H1) of 2025, reflecting a 7.82% decline from EGP 193.37 million in H1-24. The company posted EGP 1.32 billion in insurance revenues as of 30 June 2025, versus EGP 821.89 million in the corresponding period last year, according to the financial statements. The group's gross written premiums (GWPs) hit EGP 1.88 billion in H1-25, signaling a 55% year-on-year (YoY) surge from EGP 1.21 billion. Total operating income hiked by 24% to EGP 1.12 billion for the six-month period that ended on 30 June 2025 from EGP 909 million. Meanwhile, the earnings per share (EPS) amounted to EGP 0.10 in H1-25, down YoY from EGP 0.14. Standalone Results In H1-25, Contact suffered higher non-consolidated net losses after tax worth EGP 20.59 million, against EGP 1.15 million in the year-ago period. Loss per share stood at EGP 0.017 as of 30 June 2025, versus EGP 0.001 in H1-24. Financial Statements for Q2 In the second quarter (Q2) of 2025, the company's consolidated net profits reached EGP 98.16 million, an annual plunge from EGP 173.80 million in Q2-24. Insurance revenues jumped to EGP 708 million in Q2-25 from EGP 464.66 million in Q2-24, while the EPS dropped to EGP 0.05 from EGP 0.13. During the April-June 2025 period, the group shifted to standalone net losses after tax valued at EGP 8.42 million, against a net profit of EGP 2.70 million in Q2-24. The management of Contact commented: 'As we enter H2-25, we are optimistic that the positive momentum will continue as economic conditions improve further, and we remain confident in our ability to deliver on the Group's short and long-term targets.' The company emphasized: 'Our strategic goals and priorities remain unchanged, we will continue to leverage our solid business foundations and proven growth strategies to capitalize on the ongoing market recovery, with both our financing and insurance divisions well-positioned to deliver solid, sustainable growth." 'In parallel, the consistent development and expansion of our digital capabilities continues to be a main priority, and we remain committed to delivering new and enhanced solutions across both ContactNow and over the coming period,' the management added. In the first three months (3M) of 2025, Contact logged 306% higher consolidated net income at EGP 59 million, compared to EGP 14 million in Q1-24. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (