Morocco is moving on a fast track development after joining the high-speed rail club. This achievement gives the country more confidence and all the motivations to look with pride and upbeat to the future. On Saturday, King Mohammed VI launched major railway projects, two days after the inauguration of the high-speed rail line connecting the […]
Dubai Holding is on the verge of acquiring minority equities in Azadea Group based in Beirut, Lebanon and which operates Zara clothing and Virgin Megastore chains in the Middle East, Bloomberg reports citing sources who were not allowed to speak on the matter. According to the sources, the initial transaction took place last week and […]
Manama-based alternative investment products firm, Investcrop, has said it acquired five industrial units in Scotland for a $14.6 million investment as part of its expansion strategy across Europe. The entity said it bought 200,000-sq-ft industrial units comprising several sectors including sciences, logistics, telecoms and packaging. The new acquisition attracted the Bahraini firm for its geographical […]
The United States will invest about $200 million in Egypt by the end of 2018, according to the Chief of the US Mission in Egypt. Thomas Goldberger made the statement at the US Chamber of Commerce conference in Cairo on the sidelines of a visit by a delegation of 44 US companies to the country. […]
The UN Humanitarian Coordinator for the occupied Palestinian territory, Jamie McGoldrick, has been describing how ordinary Gazans are scraping by on just four hours of electricity per day due to fuel shortages, putting many in “a terrible situation” as the winter months approach. In an interview with UN News, he recounted that on a visit […]
“Davos in the desert” investment summit is expected to go ahead in capital Riyadh Tuesday as planned despite the boycott of the event by world leading entities and western government officials over call for transparency in investigations into the death of Saudi journalist Jamal Khashoggi, confirmed dead by the kingdom following days of denial. Officially […]
Bahrain will receive before the end of this year, $2 billion from Saudi Arabia, UAE and Kuwait as part of the $10 billion pledged by the three regional allies to help the tiny kingdom avoid a debt crisis. Two unnamed officials told Reuters that the $2 billion; a portion of last week-pledged $10 billion, will […]
Saudi-based Islamic Development Bank (IsDB) has announced plans to establish next year two funds for a combined value of $1 billion to help upgrade infrastructure in Africa and Asia; two regions where most of the bank’s members are located. The new funds would help close a deficit in investments for projects such as transportation, energy […]
Jordan Thursday received $1 billion in form of aid package from Saudi Arabia, United Arab Emirates (UAE) and Kuwait to support its lame-duck economy. Finance ministers of the three regional donors signed the agreements with Jordan on Thursday in capital Amman. The agreements totaling $1 billion will support Jordan’s budget, finance projects and inject funds […]
The May-announced tie-up between Saudi British Bank (SABB) and Alawwal will take shape after boards of the two banks green-lighted the $5-billion deal. “The combination of SABB and Alawwal bank will create a powerful banking franchise ready to fuel growth in the Kingdom,” said SABB chairman Khaled Suleiman Olayan. “As Vision 2030 transforms Saudi Arabia, […]