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Cairo-based investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank’s (FAB) offer to acquire a majority stake, the bank has said in a statement. The board of Egypt’s largest investment bank also said it Read more
A warplane of the Iranian army crashed Monday in the northwestern city of Tabriz killing three people including its two pilots, state television has reported. The tragedy occurred after the jet hit the ground near a school, which was closed Read more
Kuwait Airways has increased the number of planes it plans to purchase from Airbus to 31 from 28, the chairman of the company told, Zawya reports. Ma’an Razoq told a news conference in Kuwait City the order includes nine Airbus Read more
Egypt is planning to install 5,000 communication towers with $318 million in investments, Communication minister Amr Talaat has told Al Arabiya.net in an interview, Arab Finance reports. The project will take five years for completion and will be implemented in Read more
India and UAE are poised to sign a new trade deal set to be worth $100 billion over the next five years after a swift conclusion to negotiations, reports citing Indian media outlets. The new deal dubbed Comprehensive Economic Partnership Read more
Australia Thursday indicated that it would designation Palestinian movement controlling the Gaza strip as terrorist group over its “hateful ideologies”. “The views of Hamas and the violent extremist groups listed today are deeply disturbing, and there is no place in Read more
The Kingdom of Saudi Arabia’s Public Investment Fund (PIF) has invested in the country’s new digital bank, D360, launched Tuesday, Gulf Business reports. The Saudi cabinet validated Tuesday the license of the bank endowed with $440 million in capital. D360 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
Alexandria-based petrochemical giant Sidi Kerir Petrochemicals Company (Sidpec) has signed a Memorandum of Understanding (MoU) with Nigeria’s Rungas Group to assist in building a petrochemical complex in Africa’s most populated nation. Per the deal, reports say, Sidpec will provide its Read more
A set of Kuwaiti firms have pledged to invest $90.6 million in the Eastern Province Municipality in Saudi Arabia to set up entertainment centers and a commercial mall, reports say. The investments are part of two deals signed with governor Read more