Saudi Arabia is undergoing a significant transformation in its spending strategy, focusing more on domestic investments rather than external ventures. This shift is part of...
Saudi Cultural Fund to Launch New Initiative to Finance Cultural Projects
The Saudi Cultural Development Fund (CDF) is set to launch a groundbreaking initiative aimed at financing cultural projects across the kingdom. This new program, which...
Saudi Wealth Fund Brings Era of Easy Money to an End
Saudi Arabia’s Public Investment Fund (PIF) has announced a significant shift in its financial strategy, signaling the end of an era of easy money. The...
Egypt and Saudi Arabia to Enhance Investment Cooperation Agreement
Egypt and Saudi Arabia are set to enhance their investment cooperation agreement, aiming to bolster economic ties and attract significant investments in key sectors. This...
Economic Conference on Digital Economy and Technology to Take Place in Amman
The Tenth Economic Conference on Digital Economy and Technology is set to take place in Amman this Saturday. Organized by the Jordan Society for Scientific...
Jordan’s Foreign Reserves Surge to $19.142 Billion in July
In a significant boost to its economic stability, Jordan’s foreign reserves have risen to $19.142 billion at the end of July 2024. This increase, up...
Egypt Valuations and Downside Risks Cause Caution: IFR
Egypt’s sovereign debt, which experienced a significant rally during the first half of the year, is now facing increased scrutiny due to rising geopolitical tensions...
Egypt and UAE Join Forces to Establish $3 Billion Logistics Zone
In a landmark agreement, Egypt and the United Arab Emirates (UAE) have joined forces to establish a $3 billion logistics zone in the Mediterranean region....
Remittances from Egyptians Abroad Surge 66% to $7.5 Billion
In a remarkable financial development, the Central Bank of Egypt (CBE) has reported a significant increase in remittances from Egyptians working abroad. The remittances surged...
Egypt Bets Big with Historic 3.8 Million Metric Ton Wheat Tender
Egypt has announced a historic tender for 3.8 million metric tons of wheat, marking its largest ever procurement. This ambitious move by the General Authority...
Egypt and Japan Strengthen Economic Ties: Minister El-Khatib Pledges Support for Japanese Investments
In a significant move to bolster economic relations, Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, has pledged full support for Japanese investments in...
Saudi Non-Oil Activity Growth Eases in July, PMI Shows
In July 2024, Saudi Arabia’s non-oil sector experienced a slowdown in growth, as indicated by the latest Purchasing Managers’ Index (PMI) report. The seasonally-adjusted Riyad...
Saudi PIF’s New Deals Turbocharge Financial Synergy with China
In a significant move to bolster economic ties, Saudi Arabia’s Public Investment Fund (PIF) has signed memorandums of understanding (MOUs) worth $50 billion with six...
Egypt’s Net Foreign Assets “Positive” for Second Month in Row
In a significant economic development, Egypt’s net foreign assets (NFAs) have remained positive for the second consecutive month in June 2024. This marks a notable...
Turkmenistan and Saudi Arabia Strengthen Scientific Collaboration
Turkmenistan and Saudi Arabia are forging stronger scientific ties, marking a significant step in their bilateral relations. This collaboration aims to enhance scientific research, education,...
Strategic Gears Airs on National TV with Report on Saudi Economy
Strategic Gears, a prominent consulting firm, recently aired its latest report on the Saudi economy on national television. The report, which provides an in-depth analysis...