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...
Egypt Receives Third Tranche from IMF Worth $820 Million
Egypt has successfully received the third tranche of its loan from the International Monetary Fund (IMF), amounting to $820 million. This disbursement follows the completion...
Egypt Prioritises Private Sector Role in Economy
Egypt’s Finance Minister Ahmed Kouchouk has emphasized the importance of increasing the role of both domestic and foreign private sectors in the country’s economy. In...
IMF Adjusts Egypt’s Economic Forecast with More Positive Outlook Post-3rd Review
Following the completion of its third review of Egypt’s extended fund facility (EFF), the International Monetary Fund (IMF) has revised its economic forecast for Egypt,...
Korea-Saudi Business Forum Highlights Expanding Cooperation Beyond Oil
The Korea-Saudi Business Forum recently took place, emphasizing the growing cooperation between South Korea and Saudi Arabia in various sectors beyond oil. The forum, attended...
Yemenia Airways to Resume Flights to Cairo and India from Sanaa
Yemenia Airways has announced the resumption of commercial flights from Sanaa to Cairo and India, marking a significant step towards reconnecting Yemen with key international...
Egypt’s Music Industry Faces Challenges Amid Fragile Economy
Egypt’s music industry, once the epicenter of Arabic music, is facing significant challenges due to the country’s fragile economy. The devaluation of the Egyptian pound...
Saudi Arabia Turns to Kuwait for Fuel Oil to Meet Summer Demand
In a strategic move to address its soaring summer power demands, Saudi Arabia has turned to Kuwait for fuel oil imports for the first time...
Fuel costs soar in Egypt – Egypt Independent
Egypt is currently experiencing a significant surge in fuel costs, impacting various sectors of the economy and the daily lives of its citizens. The Ministry...