Leading News Source For Middle East
HSBC has unveiled a Female Entrepreneur Fund (“Fund”), which will provide US$1bn in lending to female-owned businesses over the next 12 months across several markets including Egypt. The bank in a statement said the fund aims to break down the Read more
The Egyptian-Kuwaiti Holding Company signed a partnership agreement with the German HOMANN HOLZWERKSTOFFE, which works in the field of manufacturing compressed wood, reports say. Per the deal, HOMANN HOLZWERKSTOFFE will acquire 27% of the Egyptian-Kuwaiti Holding’s stake in its subsidiary Read more
The European Investment Bank (EIB), a financial arm of the European Union (EU), announced Thursday the provision of €60 billion ($62.58 billion) for economic development in Gaza, Arab News reports. EIB Vice President Gelsomina Vigliotti and EU representative Sven Kuhn Read more
A European consortium which includes the alliance of Eurojet Germany, Conchepe Italy and Habag Lloyd for International Shipping Lines agreed with Egyptian authorities to inject $500 million in the development of “Tahya Misr 1”; the second terminal at Damietta Port. Read more
The European Union (EU) has agreed to allocate 138 million euros in form of grants for Egypt to back several development projects in multiple areas including agriculture and decentralization. The Egyptian Ministry of International Cooperation signed the agreement with the Read more
The European Bank for Reconstruction and Development (EBRD) is expected to provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI) to support private small- and medium-sized enterprises (SMEs) led by women, Arab Read more
The Saudi central bank increased Wednesday the interest rate by 50 basis points in a bid to control inflation, Arab News reports. The bank known as SAMA, said the move is in line with objectives of maintaining monetary and financial Read more
Qatar has made its entry among the world’s leading countries for entrepreneurs per the 2020 assessment index for 50 countries around the world by Global Entrepreneurship Monitor (GEM). GEM’s National Entrepreneurship Context Index (GEM NECI) ranks the Gulf country 9th Read more
Riyadh-headquartered B2B ecommerce marketplace Retailo has announced the acquisition of Dubai-based online marketplace DXBUY for an undisclosed investment, after the company raised $36 million for its Series A round in February this year. The platform in a statement said the Read more
King Hamad bin Isa Al Khalifa of Bahrain has ratified and promulgated a law on the Future Generations Reserve Fund, following its approval by the Shura and Representatives Councils, Trade Arabia reports, citing state-run news agency. Per the new funds Read more