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The Egyptian Ministry of Trade and Industry has banned the exportation of a number of commodities including wheat, flour pasta, for three months. Trade minister Nevine Gamea in a statement said the decision targets cooking oils, freekeh, corn, fava beans, Read more
Saudi Arabian oil giant Aramco will invest in the development of a major integrated refinery and petrochemical complex in Northeast China, Zawya reports. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation and Read more
Egypt is set to resume the privatization program of state-owned companies in March, Finance Minister Mohamed Maait told Bloomberg Asharq, Arab Finance reports. “We can expect more state-owned companies to offer shares on the EGX in the coming weeks,” Maait Read more
Saudi Arabia has accepted the return of Iranian diplomats to the kingdom amid rapprochement between the two sides after five years of diplomatic row. Hossein Amirabdollahian, Iran’s top diplomat, Thursday indicated that the Gulf Arab country has agreed to grant Read more
About 8,500 new hotels keys will be added to Egypt’s hospitality sector for a total investment of about $635 million, reports say. The figure represents an increase by 50 per cent compared to this year new hotel room construction. 5,550 Read more
Dubai Aerospace Enterprise (DAE), a global leader in aircraft lease, will sell nine narrow and wide body aircraft worth approximately $500 million, Zawya reports. The sales according to the company will all take place this year. “The post-pandemic market for Read more
Dubai’s international airport has been booted out of world’s 10 top busiest airports, Airports Council International (ACI) 2020 report shows. Ranked third in 2019 report after posting double-digit percentage traffic growth for years, the Emirati airport, is out of the Read more
Israel Thursday said it conducted airstrikes in Palestinian enclave of Gaza, targeting positions of Hamas movement. The airstrikes conducted from warplanes and helicopters hit an ammunition factory and a tunnel used for weapons shipments into the strip, the Israeli military Read more
Oman has begun implementation of the Value Added Tax (VAT) from today April 16 with the expectation to raise bout RO 400 million (over $560 million) annually, Zawya reports. The sultanate officials have indicated that all necessary preparations and requirements Read more
Abu Dhabi’s third investment fund, ADQ, has acquired for $740 million Egypt-based Amoun Pharmaceutical Co. controlled by Canada-based Bausch Health Companies Inc. Bausch Health Companies Inc. in a statement Wednesday said it reached a deal with ADQ to relinquish its Read more