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The European Parliament has approved the release of the second €4 billion tranche in a broader €7.4 billion financial aid package for Egypt, marking a significant step in reinforcing the EU’s strategic partnership with the North African country. The vote, Read more
Egypt has successfully secured on February 4 a $1.6 billion loan from the Jeddah-based Islamic Development Bank (IsDB) Group to bolster its critical sectors and stimulate economic growth. The loan package is part of a broader strategy to increase private Read more
Egypt’s Net Foreign Asset (NFA) surplus experienced a notable increase in September, rising 6 percent to reach $10.31 billion from $9.7 billion in August, according to Central Bank of Egypt (CBE) data on November 2. This marks the fifth consecutive Read more
Saudi Crown Prince and Prime Minister Mohammed bin Salman held extensive talks with Egyptian President Abdel Fattah El-Sisi in Cairo, on Tuesday, October 15, focusing on strengthening bilateral relations and addressing shared regional concerns. Discussions covered a wide range of Read more
The U.S. Federal Reserve has cut interest rates by 50 basis points to a range of 4.75%-5%, marking the end of a monetary tightening cycle that began in March 2022. Here’s how the rate cut impacts the global economy, with Read more
Saudi Arabia’s minister of Industry Bandar bin Ibrahim Al-Khorayef announced Tuesday December 26 the kingdom’s intentions to invest in Tunisia’s mining sector and phosphate in particular. Al Khorayef made the announcement after meeting with President Kais Saied, on the Read more
Kingdom Holding Company (KHC) founded by Saudi Prince Alwaleed Bin Talal, has injected $282.99 million (SR1.063 billion) in the Phoenix Group, one of the largest insurance, savings and retirement companies in the United Kingdom, as part of the company’s continuous Read more
The Saudi Exchange introduced this Sunday July 17 the TASI Islamic Index, its first Shariah Compliant Index, to track the performance of the Shariah compliant companies listed on the Saudi Exchange under the supervision of an independent Shariah Advisory Committee Read more
Wefox, a Berlin-based insurtech, has closed a $400 million Series D funding round led by Abu Dhabi Mubadala Investment Company, reports say. Other investors include Eurazeo, LGT, Horizons Ventures, OMERS Ventures, and Target Global, Wefox sells insurance to intermediaries and Read more
The Tunisia-Africa Business Council, TABC, will hold a summit in September in Togo, a West African country considered as an opportunity hub for investors. The Conference, one-off for the West African country, will take place 11-15 September. TABC, in a Read more