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Mediterranean Coast

All articles tagged with #mediterranean coast

business-investment1 year ago•4 min saved

Egypt Secures Record $35 Billion UAE Investment for Mediterranean Development

Egypt has signed a $35 billion deal with the United Arab Emirates to develop the Ras El Hekma peninsula on its Mediterranean coast, with potential investments reaching $150 billion. The investment, led by the UAE's ADQ, aims to boost Egypt's struggling economy, which has been facing chronic foreign currency shortages and economic pressures linked to the war in Gaza. The deal is expected to bring significant liquidity to cover Egypt's financing gap over the next four years and could provide a much-needed boost to the country's economy.

via Reuters|

#business-investment #economic-crisis #egypt

natural-disasters2 years ago•1 min saved

Cargo Ship Sinks off Greek Island, 13 Crew Members Missing in Rescue Operation

A cargo ship carrying 14 crew members and a load of salt sank off the coast of Lesbos island in Greece due to high-speed winds, with only one crew member rescued so far. A major rescue operation involving multiple ships, helicopters, and coast guard vessels is underway. The ship reported a mechanical failure before tilting and sinking. The storm, named Oliver, has caused dangerous weather conditions in Greece, which has already been hit by flooding in recent months.

via Al Jazeera English|

#cargo-ship #greece #mediterranean-coast