Areeb Capital, a leading asset management company in Saudi Arabia, has announced the acquisition of a 32-million-square-meter plot of land in Dammam for $3.2 billion....
Saudi Arabia Strikes $1 Billion Deal as Aluminum Drive Picks Up
Saudi Arabia has announced a significant $1 billion deal to accelerate its aluminum production, marking a major step in the Kingdom’s efforts to diversify its...
Egypt to Develop Second Tax Facilities Package to Boost Investment and Ease Foreign Trade
In a strategic move to stimulate economic growth, the Egyptian government is developing a second package of tax facilities aimed at boosting investment and easing...
Iraqi PM Meets Major Egyptian Companies to Boost Economic Cooperation
Prime Minister Mohammed S. Al-Sudani of Iraq recently met with Egypt’s Deputy Prime Minister and Minister of Transport and Industry, Kamel El-Wazir, along with heads...
Saudi-Listed Emaar EC Proposes 50% Capital Reduction in $2.3 Billion Turnaround Plan
Emaar The Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC) in Saudi Arabia, has announced a comprehensive $2.3 billion capital...
Saudi Arabia’s Fiscal Breakeven Oil Price is Rising Fast
Saudi Arabia’s fiscal breakeven oil price is climbing rapidly as the kingdom undertakes massive spending projects under its Vision 2030 initiative. This rising breakeven price,...
Egypt’s Dilemma: Back Out of IMF Reforms or Anger Its Citizens
Egypt is at a crossroads as it grapples with the implementation of International Monetary Fund (IMF) reforms. The country faces a tough decision: adhere to...
Egypt’s Non-Oil Private Sector Economy Expands
Egypt’s non-oil private sector economy has shown signs of recovery, expanding in August for the first time in three years. The latest Purchasing Managers’ Index...
Kuwait Set to Receive Food Shipments from Middle East and Europe
Kuwait is set to enhance its food supply chain with the readiness of Abdali port to begin receiving food and vegetable shipments from Iraq, Syria,...
Enhancing Economic Partnership: New Phase for Saudi Non-Oil Exports in Indian Markets
Saudi Arabia and India are entering a new phase of economic partnership, focusing on non-oil exports. With India being Saudi Arabia’s second-largest trading partner and...
Saudi Arabia Snooker Masters Begins with Near-Record Prize Pot
The inaugural Saudi Arabia Snooker Masters has commenced in Riyadh, featuring a near-record prize pot of £2.3 million. This tournament, which is the most lucrative...
Egypt’s Exports to Russia Hit $489 Million in 2021
In a notable economic development, Egypt’s exports to Russia surged to $489 million in 2021, marking a significant 17.5% increase from the previous year. This...
Egypt Eyes Increased British Investments to Boost Economic Growth
Egypt’s Finance Minister, Ahmed Kouchouk, has emphasized the importance of attracting more British investments to support the country’s economic development. During a recent meeting with...
IMF Eases Conditions on Egypt’s $8 Billion Finance Package
The International Monetary Fund (IMF) has softened several conditions of its $8 billion financial support package to Egypt, providing the country with more time to...
Saudi Arabia’s Trade Surplus Surpasses SR98 Billion in Q2 2024
Saudi Arabia’s trade surplus reached an impressive SR98.36 billion in the second quarter of 2024, marking a significant milestone for the Kingdom’s economy. This achievement...
Egypt Expects to Save $614 Million After Recent Electricity Price Increase
The Egyptian government has announced that it expects to save approximately $614 million following a recent increase in electricity prices. This decision, aimed at reducing...