Egypt’s top financial services firm EFG Hermes posted a notable dip in its first-quarter revenue this year, falling 34% compared to the same period in...
Egypt Boosts Railway Localization with NERIC Joint Financing Deal
Egypt is making significant strides in localizing its railway manufacturing capabilities. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir,...
Egyptian Pound Plunges Past 50 USD, Goldman Sachs Predicts Bounce Back in 2025
The Egyptian pound has taken a significant hit, falling below the 50-per-dollar mark this week. This drop marks the sixth consecutive week of decline, shaking...
Saudi Zahid Group Eyes $1.3 Billion Acquisition of South African Barloworld
Saudi Zahid Group, along with Gulf Falcon Holding Ltd. and Entsha Ltd., has put forth an offer to purchase Barloworld Ltd., a key South African...
Cambodian and Saudi Legislatures Forge Stronger Bilateral Ties
Cambodia and Saudi Arabia are set to enhance their diplomatic and economic relationships following a high-level visit by Cambodia’s Senate President to Riyadh. Strengthening Diplomatic...
Central Bank of Egypt Accelerates Cashless Shift with Instant Remittance Services
The Central Bank of Egypt (CBE) is shaking things up. They've just greenlit several banks to offer instant inbound remittance transactions through the Instant Payment...
Egypt and Iraq in Talks Over $500 Million Railway Renovation Projects
Egypt’s Holding Company for Roads, Bridges, and Land Transportation Projects is in discussions with the Iraqi government regarding the modernization of Iraq’s railway network. The...
Egypt and Chinese Company New Hope Discuss $100 Million Feed Factory Investment
A landmark meeting between Egypt’s Minister of Local Development Manal Awad and representatives from Chinese company New Hope has outlined plans for a $100 million...
Saudi Arabia’s R&D Expenditure Hits $6.02 Billion in 2023
Saudi Arabia has made significant strides in research and development (R&D) over the past year, marking a substantial increase in both financial investment and workforce...
Saudi Arabia’s King Salman Inaugurates Riyadh Metro, Transforming City’s Transit Landscape
King Salman bin Abdulaziz Al Saud officially opened the Riyadh Metro on Wednesday, marking a monumental step forward in the city’s public transportation system. A...
Riyadh Metro to Kick Off Phase I Operations Tomorrow
Saudi Arabia's capital is set to witness the partial official launch of its ambitious $22.5 billion Riyadh Metro project tomorrow, marking a significant milestone in...
Saudi GDP Grows 70% to $1.1 Trillion Since Launch of Vision 2030
Saudi Arabia has achieved a remarkable economic transformation, with its GDP expanding by 70% since the inception of Vision 2030, reaching a total of $1.1...
Egypt’s AAIB Raises $500 Million from Sustainability Bond Issue
In a significant stride towards sustainable development, Egypt's Arab African International Bank (AAIB) has successfully raised $500 million through a "sustainability bond" issue, marking a...
Act Financial’s Consolidated Profits Soar by 107.23% YoY in First Nine Months of 2024
Act Financial, a prominent player in Egypt’s asset management and capital markets sector, has reported a remarkable 107.23% year-on-year (YoY) increase in consolidated net profits...
Egypt’s Government Reforms Enhance Business Climate to Attract Sustainable Investment: Citigroup
Egypt is rapidly advancing its economic diversification efforts, positioning itself as a hub for renewable energy and digital innovation. With significant government reforms aimed at...
Egypt Introduces New Investment Incentives, Rules Out Tax Increases: Prime Minister
Egypt’s Prime Minister, Mostafa Madbouly, announced a set of new tax incentives aimed at boosting investment and economic growth, while reaffirming the government’s commitment to...