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Egypt's EFG Hermes Stock up 3.5%

Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany
Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany
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Egypt's EFG Hermes Stock up 3.5%

Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany
Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany

Shares in Egypt's largest investment bank EFG Hermes rose 3.5% on the country's stock exchange on Thursday, a day after the cabinet approved its acquisition of 51% of state-owned Arab Investment Bank.

The Sovereign Fund of Egypt also acquired a 25% stake in AIB, while the current owner, state-owned National Investment Bank (NIB), retained 24%, Reuters quoted Egypt's cabinet as saying on Wednesday.

It was Egypt's first bank privatization in more than a decade.

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Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM
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Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM

Emirates marked a significant milestone on Friday as its first Airbus A350 entered commercial service, operating its inaugural flight from Dubai to Edinburgh.

The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years, WAM reported.

Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seats, 21 Premium Economy seats, and 259 Economy Class seats.

In the coming months, Emirates will operate its Airbus A350 to eight more global destinations: Mumbai, Ahmedabad, Kuwait, Bahrain, Colombo, Lyon, Muscat, and Bologna.