Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
Business
Business
Tunisia: Investment in services reach $252m in nine months of 2021
Tunisia has witnessed an investment of 713.4 million dinars ($252 million) in service activities during the first nine months of...
- The investments will be mobilized under 6,464 projects and will create 22,053 new jobs.
- Services directed to the local market (96 percent of overall investment declarations) saw a 3.1 percent increase.
Business
Sharp recovery to see Middle East box office revenue cross $800m in 2021
Box office revenue in the Middle East made the fastest recovery in the world, from $250 million in 2020 to...
- The revenue is expected to continue to rise, reaching $1 billion in 2022 and $1.3 billion in 2024, research has shown.
- Only 261 of the 3,099 screens in the Middle East and Africa were closed due to the pandemic.
Business
IHC to acquire Arena for $98m
A consortium will hold the Arena shares in a 70:30 ratio.
- Arena Events Group is a London Stock Exchange-listed events services business.
- According to the terms offered, Arena shareholders will receive 21 pence in cash for each share.
Business
UAE economy resilient, overcame many global challenges: RAK Properties CEO
The UAE was among the first countries to return to normalcy after the pandemic and is currently hosting Expo 2020...
- RAK Properties investments reach AED15 billion, engaged in several real estate sectors.
- Expo 2020 will especially have a major impact on tourism and real estate sectors, Al Tair said.
Economy
Lebanon to soon give medicines for chronic, incurable disease for free
The Lebanese central bank has opened a credit line of $60 million for medicine importers.
- Around three-fourth of Lebanon now lives in poverty because the Lebanese pound has lost more than 90 percent of its value since November 2019
- As a result, there have been massive shortages of commodities like fuel, medicine, and even food
Business
DP World reports container volume growth of nearly 12 percent in Q3
The gross volume growth was mainly driven by Asia Pacific, India, Australia, and the MENA region.
- In Q3, DP World handled 19.8 million TEU, up 8.1 percent year-on-year basis.
- The near-term outlook remains positive, but the company expects growth rates to be moderate in the final quarter, said CEO Ahmad Bin Sulayem.
Business
Saudi-Swiss investment to touch $3.2bn by 2030
The Saudi-Swiss Investment Forum aims to touch $3.2bn of financing by 2030. The body, launched on 25 October in Riyadh,...
- Khalid Al-Falih, minister of investment, said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies
- He added that kingdom’s investment strategy has several key aims it plans to reach by 2030, including doubling annual domestic investment to 9 percent of gross domestic product
Business
IsDB lists sukuk on Nasdaq Dubai
The $1.7bn listing strengthens its position as the largest Sukuk issuer on the bourse.
- The listing strengthens the IsDB’s position as the largest supranational Sukuk issuer on Nasdaq Dubai with a total value of $18.8 billion
- The bell-ringing ceremony was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of the Dubai Financial Market (DFM)
Business
16 firms selected for Qatar FinTech Hub’s incubator and accelerator programs
Qatar FinTech Hub was launched by Qatar Development Bank (QDB) with the support of Qatar Central Bank (QCB) to develop...
- The Wave 3 of the program will run until Dec. 2021. QFTH will provide training and mentoring services.
- The six mature FinTechs that have joined the Accelerator program are based in India, Sudan, Malaysia and Indonesia.
Business
UAE credit card applicants to get pre-approved status online
The UAE’s Al Etihad Credit Bureau has joined hands with online financial aggregator Policybazaar UAE to implement real-time eligibility checks...
- The three-digit AECB credit score indicates how likely customers are to fulfill their payment obligations on time based on their past behavior
- Maintaining a good credit history allows customers to avoid higher interest rates and credit refusals
Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
Business
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EU to support Iraq in boosting economic activity in five sectors
The European Union has shown interest to be part of the process of decentralization in Iraq and in this regard...
Geostrategy
Germany vows to protect its SMEs from energy crisis
The German economy, like the economy of the vast majority of European countries, faces major challenges due to the Russian...
Economy
Egypt’s gas export revenues up 13-fold in 8 years
Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021-2022.
Economy
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Geostrategy
Jordan PM meets Iraqi, Syrian, Lebanese agriculture ministers
Jordan Prime Minister Dr. Bisher Khasawneh has a joint meeting with the agriculture ministers of Iraq, Syria and Lebanon.
- The Jordan PM stressed the importance of the four countries' cooperation to enhance sustainable food security.
- The PM said COVID-19 pandemic and Ukraine war have affected basic commodities supply chains.
Business
Sudan seeks investment from Qatari private sector in various sectors
Doha, Qatar - Qatar Chamber explored, with the Ruler of Darfur region in Sudan, investment cooperation and enhancing the role...
- Ruler of Darfur Region in Sudan, Minni Arko Minawi and Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwary discussed investment prospects.
- Arko Minawi said that the region is rife with a host of investment opportunities in various sectors such as mining and infrastructure.
Videos
Gender bias in MENA workforce raises concerns
The latest study on Diversity, Equality and Inclusion sheds light on the diversity gap in the region while offering solutions.
- Middle East – IMA and IFAC recently release DEI report: "Diversifying Accounting Talent in the MENA region: A Critical Imperative to Achieve Transformational Outcomes”.
- The study focuses primarily on gender, nationality, and ability within the MENA region, assessing deeply rooted issues inhibiting DEI progress within the accounting profession.