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Category: Finance

By David SmithIn Finance, NewsPosted July 3, 2025

Middle East’s Digital Identity Boom Gains Speed as Gulf Nations Push New Mandates

The region’s rapid tech upgrades are sparking a flurry of partnerships and investments, with biometrics and soft tokens taking center stage. As the Middle East...

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By Rian LordIn Finance, NewsPosted May 22, 2025

EFG Hermes Sees 34% Revenue Drop in Q1 Amid Absence of Last Year’s Foreign Currency Boost

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...

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By Noah MillerIn Finance, NewsPosted December 13, 2024

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,...

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By Noah MillerIn Finance, NewsPosted December 13, 2024

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...

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By Ava WilliamsIn Finance, NewsPosted December 13, 2024

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...

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By Rian LordIn Finance, NewsPosted December 10, 2024

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...

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By David SmithIn Finance, NewsPosted December 9, 2024

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...

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By Emma JohnsonIn Finance, NewsPosted December 5, 2024

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...

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By Emma JohnsonIn Finance, NewsPosted December 5, 2024

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...

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By David SmithIn Finance, NewsPosted December 2, 2024

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...

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By David SmithIn Finance, NewsPosted November 28, 2024

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...

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By Ava WilliamsIn Finance, NewsPosted November 26, 2024

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...

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By Rian LordIn Finance, NewsPosted November 26, 2024

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...

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By David SmithIn Finance, NewsPosted November 26, 2024

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...

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By Ava WilliamsIn Finance, NewsPosted November 13, 2024

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...

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By Rian LordIn Finance, NewsPosted November 12, 2024

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...

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