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The Saudi monarch King Salman issued a royal order approving an allocation of $5.32 billion (SR20 billion) to help citizens mitigate the impacts of rising global prices, Half of the allocated money will go to social insurance beneficiaries and the Read more
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
The Public Investment Fund (PIF), the sovereign wealth fund of the kingdom of Saudi Arabia has launched AviLease, an aircraft leasing company that will provide leasing, trading and asset management services. The fund in a statement said AviLease will initially 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 Ministry of Human Resources and Social Development (MHRSD) signed two agreements with Sierra Leone in the field of recruitment of public and domestic workers, reports say. The agreements aim to set a regulatory framework for all necessary procedures for Read more
Qatar’s Emir Tamim bin Hamad Al Thani is set to visit Cairo on Friday, his first visit in the most populated Arab country since 2017 the year Saudi Arabia, UAE, Bahrain and Egypt cut off ties with the tiny Gulf 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
Saudi Arabia and Senegal signed a memorandum of understanding (MoU) on political consultations as both countries aim at strengthening bilateral relations. The signing took place in the capital Dakar of the West African country between Saudi Arabia’s Foreign Minister Prince 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
Saudi-based dairy giant Almarai is looking to enter the seafood market with an investment of $67 million (SR252 million). The investment will be used to fund Almarai’s seafood processing facility, the company said in a statement to the Saudi bourse. Read more