Egypt’s SMES to get $30m funding from Arab Fund

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

Abu Dhabi-based ADNEC acquires Etihad Holidays

The Abu Dhabi National Exhibitions Company (ADNEC), a subsidiary of state holding company ADQ, has acquired Etihad Holidays, the destination and leisure management arm of Etihad Airways, Zawya reports. The transaction, ADNEC is a statement said, will expand its footprints Read more

Libya’s electoral Commission disqualifies Saif al Islam Gaddafi

Libya’s electoral body, High National Elections Commission (HNEC), has invalidated the candidacy of Saif al Islam Gaddafi, the son of former leader Muammar Gaddafi, for failing to meet requirements. The HNEC published Wednesday list of 75 candidates vetted for the Read more

UAE, Turkey central banks sign cooperation agreements

The Central Bank of the Republic of Turkey (CBRT) and the Central Bank of the United Arab Emirates (UAE) signed cooperation agreement between the two institutions on the sidelines of Abu Dhabi Crown Prince Mohammed bin Zayed’s visit to Ankara Read more

Morocco: Israeli Defense Minister Gantz signs Israel’s first-ever defense MOU with an Arab country

Israel’s Deputy Prime Minister and Minister of Defense, Benjamin Gantz, was received on Wednesday in Rabat, upon High Royal Instructions, by the Minister Delegate to the Head of Government, in charge of the National Defense Administration and by the Lieutenant Read more

Saudi Arabia’s Aramco invests in Chinese brain-computer interface platform NeuraMatrix

The world’s largest oil exporter and Saudi Arabia’s largest company, Aramco, has joined investors in funding China’s brain-computer interface platform, NeuraMatrix, Arab News reports. NeuraMatrix, has closed $15.6 million Series A financing round led by Huagai Capital and Prosperity7 Ventures, Read more

Egypt greenlights SODIC’s acquisition by Abu Dhabi-based Aldar Properties

Egypt’s Financial Supervisory Authority (FSA) has approved Abu Dhabi-headquartered Aldar Properties’ bid to acquire real estate developer SODIC, Zawya reports citing the Emirati Company. Aldar Properties made the offer to acquire 90 per cent of Al Sheikh Zayed City-based Company Read more