Saudi Arabia to build 17 hotels on four Red Sea man-made islands

Red Sea Development Company (RSDC), the Saudi developer of the Red Sea project unveiled plans to build 17 hotels on four Islands the kingdom is creating on the Red Sa, local Arabic daily Aleqtisadia reports. Mohammed Al-Rihawi, facilities manager at Read more

Kuwait’s IFA to acquire 10.5 per cent of Dubai’s Palm Jumeirah Yotel

Kuwait-based investor International Financial Advisors Holding (IFA) will invest AED 37.69 million ($10.26 million) in a branch of smart hotel brand Yotel in Dubai’s Palm Jumeirah, Zawya reports. The investment will provide IFA, 10.5 per cent of the hotel brand. Read more

French FM applauds Middle East diplomacy, warns of Iranian transgressions -Arab News

French Foreign Minister Jean-Yves Le Drian has celebrated progress in diplomacy in the Middle East and promised that France will continue to take an active role in ensuring the region remains stable. In a wide-ranging press conference held on Monday, Read more

Egypt to float shares of five state-run companies

Five Egyptian state-run companies will be listed during the fiscal year (FY) 2021/2022, on the country’s stock exchange, Egyptian Exchange (EGX). Finance Minister Mohamed Maait speaking to CNBC Arabia said the companies include e-Finance, Banque du Caire, and Ghazl El Read more