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Egypt will welcome in 2023 the annual meeting of the board of governors of the African Development Bank (AfDB) following approval by the Abidjan-based bank of a request by the Arab country. The board unanimously rubber-stamped Egypt’s request Wednesday, during Read more
Red Sea Development Company (RSDC), the Saudi developer of the Red Sea project unveiled plans to build 17 hotels on four Islands the kingdom is creating on the Red Sa, local Arabic daily Aleqtisadia reports. Mohammed Al-Rihawi, facilities manager at Read more
Kuwait-based investor International Financial Advisors Holding (IFA) will invest AED 37.69 million ($10.26 million) in a branch of smart hotel brand Yotel in Dubai’s Palm Jumeirah, Zawya reports. The investment will provide IFA, 10.5 per cent of the hotel brand. Read more
The Libyan Government of National Unity (GNU) led by Prime Minister Abdul Hamid Mohammed Dbeibah lost Tuesday the vote of confidence of the east-based House of Representative (HoR), few months after assuming power. 89 votes out of the 113 members Read more
French Foreign Minister Jean-Yves Le Drian has celebrated progress in diplomacy in the Middle East and promised that France will continue to take an active role in ensuring the region remains stable. In a wide-ranging press conference held on Monday, Read more
French global sport brand Paris Saint-Germain (PSG) football club, owned by Qatar, will play a friendly in the Saudi capital of Riyadh in January next year against a local selection, in a major sign of reconciliation between the two Gulf Read more
Five Egyptian state-run companies will be listed during the fiscal year (FY) 2021/2022, on the country’s stock exchange, Egyptian Exchange (EGX). Finance Minister Mohamed Maait speaking to CNBC Arabia said the companies include e-Finance, Banque du Caire, and Ghazl El Read more
Saudi Arabia retained for nine straight months until August its position as China’s top crude supplier, Reuter reports. Saudi oil arrivals surged 53 percent from a year earlier to 8.06 million tons, or 1.96 million barrels per day (bpd), data Read more
South Korea will provide Egypt with a loan worth $250 million for the railway modernization project, as part of efforts to promote economic cooperation with Cairo, Arab Finance notes, citing the Ministry of Finance. The Economic Development Cooperation Fund (EDCF) Read more
King Mohammed VI has expressed his condolences and sincere feelings of compassion following the death of Abdelaziz Bouteflika in messages he sent to the Algerian Head of State and to the family members of the former President who passed away Read more