Morocco and the EU started on Thursday negotiations to reach a new mutually beneficial fisheries agreement, said minister of Agriculture, Fisheries, Rural Development, Waters and Forests, Aziz Akhannouch. “Morocco and the EU will start a new phase and I hope that the negotiations will culminate in a mutually beneficial agreement that respects the commitments of […]
Reviving the Tunisian economy and boosting exports requires weakening the dinar, IMF officials in Tunis told Bloomberg. The call comes as Tunisia struggles with falling foreign exchange reserves, which plummeted to $4.6 billion, enough to cover just 78 days of imports The Tunisian economy relies on tourism, a sector that was hard hit by the […]
The Dubai-based group Al-Futtaim has decided to multiply nearly two-fold its investment in Cairo Festival Mall from an original investment ranging between $850.8 and $964.2 million. The revaluation has been announced by the group managing director Ashraf Ezzeldin at a news conference Tuesday. Al-Futtaim has embarked on the development of Cairo Festival Mall; a mixed-use […]
For its 2018 ranking of the World Richest Arabs, the US-based Forbes Magazine has not included Saudi billionaires in the wake of the November anti-graft purge, which saw dozens of Saudi business tycoons locked up for several months The 2018 ranking, which the magazine says is based on stock prices and exchange rates from February […]
Saudi Arabia’s Crown Prince Mohammed Bin Salman showed generosity during his first visit to Egypt Sunday as the two nations have signed agreements to activate a 60 billion Saudi riyal ($16 billion) investment fund, agreed upon in 2016. The Crown Prince and President Al-Sisi have also set up a joint fund to develop the planned […]
Gaza hospitals will be able to offer health services after the United Arab Emirates donated $2 million in support of a UN program, supplying electricity to hospitals across the strip, the Abu Dhabi-based official news agency said. The UAE announced the donation after a WHO official warned that fuel for backup generators in Gazan hospitals […]
Saudi Arabia’s gigantic Public Investment Fund (PIF) is eyeing 5 to 10 per cent of stakes in Endeavor, the holding managing Hollywood talent agency WME, for an investment to exceed $500 million in the end, reports say. According to Bloomberg, which cited anonymous sources aware of the matter, the PIF is in talks with the […]
The UAE government Thursday expressed surprise at its presence on the European Union’s black list of countries considered tax-havens, although it aligns with the block’s transparency standards. EU countries Tuesday published a list of 17 countries, including the United Arab Emirates (UAE), Bahrain and Tunisia, which promote tax avoidance. Countries on the black list could […]
Despite the economic blockade imposed by its neighbors and a plunge of crude prices, Qatar’s economy is still projected to expand by 3.1% in 2018 up from 2.5% in 2017. The real GDP growth is expected to pick up on account of recovery in global crude oil prices and their positive spillover effects on both […]
The European Bank for Reconstruction and Development (EBRD) has committed €15 million to Mediterrania Capital III Funds to boost small businesses in Egypt, Morocco and Tunisia. This funding is part of the first close of Mediterrania Capital III LP (MC III), which could increase up to €35 million in subsequent closings, the EBRD said in […]
