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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 United Arab Emirates, UAE, on Monday expressed its opposition to UN Secretary-General Antonio Guterres’s decision to appoint former Algerian Foreign Minister Sabri Boukadoum as UN envoy to Libya, Libya Observer reports, citing diplomatic sources. The Gulf country, the sources Read more
W Solar Investment, a subsidiary of UAE’s Alpha Dhabi, signed Monday a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a long-term partnership in Libya’s renewable energy sector, Zawya reports. Under the agreement, the investment 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
Etihad Rail, the developer and operator of the UAE national railway network, has signed a 1.2-billion-dirham ($327 million) agreement with Spain’s CAF Group for designing, manufacturing, supplying and maintaining passenger trains, Zawya reports. Per the deal, CAF will design, manufacture, 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 Crown Prince Mohamed bin Salman arrived Monday in Egypt as part of a regional tour that will take him to Jordan and Turkey. President Fattah al-Sisi welcomed the de facto leader of the Gulf country at the airport. The Read more
The UAE central bank has slapped administrative sanctions on an unidentified insurer accused of failing to meet regulatory obligations, Zawya reports. As part of the sanctions, insurance companies are prohibited from issuing additional policies to new customers for a period 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
Abu Dhabi’s ADQ has entered into a definitive agreement to acquire Turkish pharmaceutical company Birgi Mefar Group (BMG), Zawya reports. The Abu Dhabi Media Office broke the news on Monday but did not disclose details on the potential acquisition. The Read more