Saudi Arabia’s multi-sector powerhouse, Waja, is set to bolster its financial portfolio with the issuance of sukuk worth SAR 70 million ($18.7 million). This strategic...
Unveiling the Mysteries of the Afterlife: New Insights into Egypt’s Duat
Ancient Egypt has long fascinated scholars and enthusiasts alike, especially its intricate beliefs surrounding the afterlife. A recent scholarly work by Silvia Zago delves deep...
Egypt Aims to Amplify Concessional Financing from Global Development Banks
Egypt is taking strategic steps to enhance its economic stability by seeking to increase concessional financing from development banks and international partners. Minister of Finance...
Faisal Islamic Bank Egypt Achieves Remarkable Profit Surge in 2024
Faisal Islamic Bank of Egypt (FAIT) has reported an extraordinary increase in its financial performance for the first nine months of 2024. The bank's net...
Saudi Arabia Introduces Expat Insurance to Safeguard Against Financial Defaults
Saudi Arabia has unveiled a new insurance initiative aimed at protecting expatriate workers from financial uncertainties. The Ministry of Human Resources and Social Development, in...
Egyptian Banking Sector Shows Strong Financial Indicators, Surpassing Regulatory Benchmarks: CBE
The Central Bank of Egypt (CBE) has reported that the Egyptian banking sector continues to demonstrate robust financial health, consistently surpassing regulatory benchmarks. According to...
ACWA Power Reaches Financial Close on 5.5 GW of Saudi Solar Projects
In a landmark achievement for Saudi Arabia’s renewable energy sector, ACWA Power has reached financial close on three major solar projects with a combined capacity...
Rekaz to Subscribe to Medcap Securities’ Capital Increase
Rekaz Holding for Financial Investments has announced its decision to subscribe to Medcap Securities’ capital increase. This move will see Rekaz increase its stake in...
Oil Prices Drop as Saudi Arabia Prepares to Abandon $100 Crude Target
Oil prices have taken a significant hit as reports emerge that Saudi Arabia is preparing to abandon its $100 per barrel crude oil price target....
GISBH’s Worldwide Aspiration: A RM325 Million Empire Spanning the Globe
Global Ikhwan Services and Business Holdings (GISBH) is making headlines with its ambitious worldwide expansion. Operating 415 business outlets across 20 countries, GISBH has built...
Pakistan Secures Additional Financing Assurances from China, UAE, and Saudi Arabia
Pakistan has received significant financing assurances from China, the United Arab Emirates (UAE), and Saudi Arabia, linked to a new International Monetary Fund (IMF) program....
Central Bank of Egypt Unveils $1.02 Billion T-Bills
The Central Bank of Egypt (CBE) has announced the issuance of treasury bills (T-bills) worth $1.02 billion, aimed at bolstering the country’s financial stability and...
Ferrum Egypt in Talks with 4 Banks for Silos Project
Ferrum Egypt, a leading player in the construction and manufacturing sector, is currently in negotiations with four major banks to secure financing for a significant...
Ebdaa’s Intention for Saudi Expansion Reflects Microfinance Synergy Between the Two Kingdoms
Ebdaa Microfinance Company, a prominent financial institution based in Bahrain, has announced its plans to expand into Saudi Arabia. This strategic move aims to leverage...
Saudi Aramco to Open Petrol Station in Pakistan
Saudi Aramco, the state-controlled oil giant, is set to launch its first branded petrol station in Pakistan by the end of this year. This move...
Brokers Push for Tightening of Middle East Escalation Clause Wordings
Reinsurance brokers are advocating for more precise language in the Middle East escalation clauses included in specialty treaties. These clauses, introduced by reinsurers such as...