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The Public Investment Fund (PIF), the Saudi sovereign wealth fund, announced Sunday plans to acquire a 23.97% stake in Capital Bank Group, one of the largest banking group in Jordan, Iraq and the Middle East and North Africa (MENA) region. Read more
Jeddah-based Islamic Development Bank (IsDB) has opened its first regional headquarter in Cairo, Egypt, Arab Finance reports. The bank made the announcement in an email press release seen by the media, following the 2022 Annual Meetings, which was held in Read more
The Saudi tourism ministry signed today Tuesday a Memorandum of understanding (MoU) with the Ministry of Foreign Affairs and Tourism of Seychelles to boost cooperation and exchange expertise between the two sides, reports say. The agreement aims at supporting and Read more
Hungary-headquartered and low cost airline Wizz Air has revealed plans for expansion opportunities in Saudi Arabia, Zawya reports. The airline, the media notes, has signed a Memorandum of Understanding (MoU) with the Future Aviation Forum to explore airline market development Read more
Saudi Arabia unveiled Monday Paris Saint Germain (PSG) and Argentina football superstar as its new tourism ambassador. The 34-year old icon arrived at King Abdulaziz International Airport in Jeddah accompanied by a group of friends in his new role for Read more
The Islamic state group cell in Egypt claimed Sunday the lethal attack which killed 11 soldiers late last week, at a water pumping station east of the Suez Canal in the town of Qantara in the province of Ismailia. The Read more
The Saudi central bank increased Wednesday the interest rate by 50 basis points in a bid to control inflation, Arab News reports. The bank known as SAMA, said the move is in line with objectives of maintaining monetary and financial Read more
Qatar has made its entry among the world’s leading countries for entrepreneurs per the 2020 assessment index for 50 countries around the world by Global Entrepreneurship Monitor (GEM). GEM’s National Entrepreneurship Context Index (GEM NECI) ranks the Gulf country 9th Read more
Saudi Arabia’s agriculture technology startup Red Sea Farms said on Monday it had raised an additional $18.5 million to help expand its fresh produce line and also to sell its technology to users in harsh, water scarce environments, Arab News Read more
World Travel & Tourism Council (WTTC) Global Summit, the world’s most influential travel and tourism announced Saturday, the kingdom of Saudi Arabia will host its 22nd Global Summit on November 29 this year, Trade Arabia reports. The announcement was made Read more