MNT-Halan, Egypt’s pioneering fintech startup, has successfully raised $157.5 million in a new funding round, just 17 months after becoming the country’s first unicorn. This...
Central Bank Approves One Bank, Egypt’s First Native Digital Bank
The Central Bank of Egypt (CBE) has granted approval to Misr Digital Innovation, the investment arm of Banque Misr, to launch One Bank, Egypt’s first...
First Saudi Stock Mutual Fund Submitted to Chinese Regulators for Approval
In a groundbreaking move, the first Saudi stock mutual fund has been submitted to Chinese regulators for approval. This initiative marks a significant step in...
Will Growing Saudi Investment in Iraq Hit Iranian Roadblock?
Saudi Arabia’s increasing investment in Iraq has raised questions about potential challenges from Iran. As Saudi companies expand their presence in Iraq, the geopolitical dynamics...
SHL Finance Secures $83 Million Financing from Al Bilad Bank
Saudi-listed SHL Finance Company has successfully secured $83 million (SAR 311.9 million) in shariah-compliant financing from Al Bilad Bank. This significant funding will be utilized...
Saudi Arabia’s PIF to Invest $114 Million in Saudi Re
Saudi Arabia’s Public Investment Fund (PIF) has announced plans to invest $114 million in the Saudi Reinsurance Company (Saudi Re). This strategic investment will increase...
Raya Holding to List Up to 30% of Raya IT on EGX in October
Raya Holding for Financial Investments has announced plans to list up to 30% of its subsidiary, Raya Information Technology (Raya IT), on the Egyptian Exchange...
U.S. Oil Production Extends Massive Lead Over Russia and Saudi Arabia
The United States has solidified its position as the world’s leading oil producer, extending its lead over Russia and Saudi Arabia. According to recent data...
Saudi Wealth Fund’s Record Profit: A Beacon of Economic Transformation
In an unprecedented financial triumph, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has reported a staggering profit of $36.8 billion for the...
Mizuho to Establish Regional Headquarters in Riyadh: A Strategic Move
Mizuho Financial Group, a global banking firm based in Tokyo, is embarking on an exciting journey by applying to establish its regional headquarters in Riyadh,...
Nigeria, Egypt, South Africa’s Gross Official Reserves Rise in June
In a positive turn for the African continent, Nigeria, Egypt, and South Africa have all reported significant increases in their gross official reserves for June...
Egyptian Bourse Closes in Green on Sunday
The Egyptian stock market ended on a positive note on Sunday, with all major indices showing significant gains. The benchmark EGX 30 index rose by...
Egypt’s Gold Reserves Reach New Heights at EGP 456 Billion
Egypt’s financial stability is shining brighter than ever as its gold reserves have reached a staggering EGP 456 billion. This remarkable achievement reflects the country’s...
Saudi Economy Bolstered by Robust Domestic Demand, According to IMF
The International Monetary Fund (IMF) has highlighted domestic demand as the continuing force propelling the Saudi economy forward. With non-oil growth projected at about 3.5%...
Edmond de Rothschild’s Strategic Expansion into Saudi Arabia
The Edmond de Rothschild Group, a distinguished entity in asset management and private banking, is poised to establish a new office in Saudi Arabia within...
Egypt’s Central Bank Holds Steady Amid Economic Flux
In a move that signals cautious optimism, Egypt’s central bank has decided to maintain its key interest rates, a decision that aligns with the country’s...