Leading News Source For Middle East
Dubai-based start-up YAP, which operates a digital banking app, has raised $41 million to fund its expansion in the Middle East, Africa and Pakistan, Zawya reports. The investors include Saudi Arabia’s Aljazira Capital alongside Abu Dawood Group, Astra Group and Read more
Singapore-based Olam Agri, the food, feed and fiber operating group of Olam Group, has secured a $745 million financing facility from the UAE banks to refinance existing loans for general corporate purposes, Zawya reports. Abu Dhabi Commercial Bank, First Abu Read more
The World Bank’s Board of Executive Directors yesterday approved a $500 million loan to bolster Egypt’s efforts to ensure that poor and vulnerable households have uninterrupted access to bread, to strengthen Egypt’s resilience to food crises and to support reforms Read more
Kuwait’s Jazeera Airways has secured temporary cash facilities from local banks amounting to 27 million dinars ($88 million) to be used to buy property and equipment and in capital expenses, Zawya reports, citing a statement from the airline. The new Read more
Egypt and Qatar are holding talks to expand investments in new areas and increase their volume, especially in the energy sector, Egypt’s Minister of Trade and Industry Nevin Gamea said, Arab News reports. The Egyptian official took part in the Read more
The Cabinet meeting chaired by King Salman Tuesday gave greenlight to the Bank of Jordan to open branches in the Kingdom to practice banking activities. Listed on the Amman Stock Exchange, the Bank of Jordan was founded in 1960 and Read more
International Media Investments on Monday announced a new partnership with CNN to launch a dedicated digital business platform from the Middle East and North Africa region for Arabic speakers around the world, Arab News reports. The channel will be launched Read more
King Mohammed VI has called for accelerating and optimizing public investment in Africa to leverage private capital and consequently benefit strategic and productive sectors, pointing out that spurring a genuine African investment industry can guarantee massive, sustainable mobilization of capital Read more
Egyptian President Abdelfattah al-Sisi Monday praised Saudi Arabia and the UAE for supporting the Arab African country economically as it faces an acute economic hardship compounded by the Russia-Ukraine crisis, Middle East Monitor (MEMO) reports. “Saudi Arabia and the UAE Read more
The European Commission is nearing completion of the procedure for restarting financial assistance to the Palestinian Authority, an EU official said on Monday. “Once it is finalized, funds will be released as soon as possible for East Jerusalem hospitals Read more