In 2023, Saudi Arabia’s tourism industry achieved an unprecedented milestone, with visitors spending a staggering USD 36 billion, as reported by the Saudi Central Bank....
Egypt’s Commitment: Bolstering Bread Subsidies Amid Economic Reform
In a decisive move to support its citizens amidst economic reforms, Egypt has earmarked a substantial $2.66 billion for bread subsidies within the new budget...
Egypt Secures Vital Vegetable Oils Amidst Global Market Volatility
In a strategic move to bolster its national reserves, Egypt’s General Authority for Supply Commodities (GASC) has successfully procured 35,250 metric tons of vegetable oils...
Egypt’s Innovative Leap: Land Sales in Dollars to Global Buyers
In a groundbreaking move, Egypt has authorized the sale of land plots in dollars to buyers residing abroad. This policy shift aims to attract foreign...
Anticipation Peaks as Egypt and Pakistan Stand on the Precipice of Market Reclassification
The financial world holds its breath as Egypt and Pakistan await the pivotal decision from FTSE Russell on their emerging-market status. The outcome, due to...
Egypt’s Dilemma: The IMF Loan and the Deepening Cost of Living Crisis
In the wake of securing a substantial loan from the International Monetary Fund (IMF), Egypt faces a deepening cost of living crisis, casting a shadow...
Egypt’s Economic Outlook: A Date with the IMF Executive Board
Egypt’s economic future is set to take center stage as the country is listed on the IMF Executive Board’s calendar for March 29. This pivotal...
Record-Breaking Ramadan: Saudi Arabia’s Retail Triumph
As the holy month of Ramadan commenced, Saudi Arabia witnessed a remarkable surge in consumer spending, shattering records with sales exceeding SAR 116 billion in...
Egypt’s Economic Horizon: S&P’s Outlook Shift from Positive to Stable
In a significant development for Egypt’s economic landscape, Standard & Poor’s has adjusted the nation’s economic outlook. This change reflects a nuanced analysis of the...
Egypt’s Currency Confidence: Dollar Demand Dips as Economy Stabilizes
In a recent statement that has resonated through the financial corridors of Egypt, the central bank governor has indicated a decline in the demand for...
A Historic Leap: Non-Oil Sectors Fuel Half of Saudi Arabia’s GDP
In an unprecedented economic shift, Saudi Arabia’s non-oil sectors have surged to contribute 50% of the nation’s Gross Domestic Product (GDP) in 2023. This landmark...