Leading News Source For Middle East
Egypt is currently negotiating with Qatar on new investments ranging between $2bn-3bn, Minister of Finance Mohamed Maait announced on Monday, Zawya reports. Maait did not provide details but the announcement comes after Qatar’s ruler Sheikh Tamim al Thani visited Egypt Read more
Egypt’s President Abdelfattah al-Sisi Monday revealed that the North Arab republic has postponed a third rise in electricity prices to mitigate burdens on citizens caused by the global economic crisis, reports say. The Egyptian leader who spoke during the inauguration Read more
Jeddah-based Islamic Development Bank (IsDB) has opened its first regional headquarter in Cairo, Egypt, Arab Finance reports. The bank made the announcement in an email press release seen by the media, following the 2022 Annual Meetings, which was held in Read more
The European Union (EU) and the African Union (AU) are holding this week (Feb. 17, 18) their sixth joint summit to reaffirm partnership between the two regions but the European ambition is expected to meet distrust from the African side, Read more
Egypt and Yemen have signed a Memorandum of Understanding (MoU) for cooperation in several fields including oil, natural gas, and mining, Arab Finance reports. Egyptian Minister of Petroleum Tarek El Molla signed the agreement with his Yemeni Abdul Salam Baaboud Read more
The kingdom of Jordan will start exporting electricity to Lebanon, hit by the energy crisis, from next month. Minister of Energy Saleh Al-Kharabsheh made the announcement Tuesday, adding that a funding agreement with the World Bank has been finalized. Both Read more
Aldar Properties, a developer based in Abu Dhabi will build a sustainable city project worth 1.8 billion dirhams ($490 million), as part of its strategy to achieve sustainable development goals, reports say. The company will build 864 units on Yas Read more
The World Bank has granted Turkey two loans worth $300 million to support the development of renewable energy by tapping heat sources deep underground as part of the Geothermal Development Project, Daily Sabah reports citing the Washington-based financial institution. The Read more
The Arab Fund for Social and Economic Development (AFESD) is expected to sign an agreement with one of the Egyptian banks to finance SMEs with $30 million, Arab Finance reports. The future new funding comes on top of the ongoing Read more
Iran Thursday indicated Thursday it is willing to build two power plants in Lebanon to help the Middle East country to easy the energy crisis in place for months, reports say. Visiting Hossein Amir-Abdollahian, the top diplomat of the Islamic Read more