In a significant diplomatic engagement, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan bin Abdullah, welcomed Anne-Claire Legendre, the Advisor to the President of the...
Egypt Lowers 2025 Wheat Self-Sufficiency Target to 51%
In a significant policy shift, Egypt has revised its wheat self-sufficiency target for the fiscal year ending in June 2025 to 51%. This adjustment comes...
IMF Reschedules Egypt Executive Board Meeting to Late July
The International Monetary Fund (IMF) has rescheduled its executive board meeting with Egypt to late July. Originally set for July 10, the meeting will now...
Cabinet Reshuffle: A New Chapter for Egypt’s Economy
Egypt’s President Abdel Fattah El Sisi has overseen a significant cabinet reshuffle, marking a new chapter for the country’s economy. The reshuffle, which took place...
Egypt’s New Government Seeks 4.2% Economic Growth in Next Three Years
Egypt’s Prime Minister Mostafa Madbouly has unveiled an ambitious plan for the country’s economic future, aiming for a 4.2% growth rate over the next three...
Al-Hokail Academy to Sell 29% Stake in Nomu IPO; Sets Price Range
Saudi Arabia’s Al-Hokail Academy has announced plans to sell a 29% stake in its company through an initial public offering (IPO) on the Nomu-Parallel Market....
Egypt Extends Working Week for Industrial Development Authority
In a significant move aimed at boosting industrial development, Egypt has extended the working week for the Industrial Development Authority (IDA) from five to six...
UK’s BII Eyes Investing Up to $200 Million in Egypt’s Financial Sector
The UK-based British International Investment (BII) is planning to invest between $100 million and $200 million in Egypt’s financial sector in 2024. This significant investment...
Egypt Aims to Attract $1 Billion in Turkish Investments Within 18 Months
Egypt is setting its sights on attracting $1 billion in new investments from Turkey over the next 18 months. This ambitious goal is part of...
Petrochemical Profits: Saudi Sector’s Earnings Soar and Dip in a Year of Flux
The Saudi petrochemical sector is poised for a dramatic 95% quarter-on-quarter increase in earnings, yet faces a 31% year-on-year decline, reflecting a volatile period of...
Egypt’s New Frontier: A Firm Stance on Migration Amid Humanitarian Concerns
In a move that has drawn international attention, Egypt has intensified its approach to managing Sudanese migrants within its borders. This crackdown on illegal migration...
Bridging Economies: Egypt and EU Convene to Forge Path Through Financial Turbulence
In a concerted effort to navigate through its economic challenges, Egypt, in partnership with the European Union, has convened a pivotal investment conference. This gathering...
Economic Pulse: Saudi Non-Oil Sector Slows, Signaling Caution Ahead
In a significant economic development, Saudi Arabia’s non-oil business activity has seen a downturn, reaching its lowest point in two and a half years according...
Saudi Wealth Fund’s Record Profit: A Beacon of Economic Transformation
In an unprecedented financial triumph, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has reported a staggering profit of $36.8 billion for the...
Saudi Arabia May Scale Back 13 Multi-Trillion Pound Giga-Projects Amid Low Oil Prices
Saudi Arabia is reportedly considering scaling back its ambitious multi-trillion pound giga-projects, including luxury Red Sea holiday islands and the futuristic city known as The...
Saudi Arabia Soars to 16th in Global Competitiveness
In a remarkable leap forward, Saudi Arabia has ascended to the 16th position in the World Competitiveness Index of 2024. This advancement is a testament...