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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Egypt gained most from Islamic Development Bank in 2020

  • IsDB gave out around $6.8 billion to various nations last year
  • Egypt’s share in that, at $1.13 billion, amounted to around 17 percent

Egypt got $1.13 billion from the Islamic Development Bank in 2020, the most given out by the financial institution last year, local reports have said.

IsDB gave out around $6.8 billion to various nations last year, said the reports. Egypt’s share in that amounted to around 17 percents.

Around $1.09 billion was given to Turkey, followed by Bangladesh at $1.06 billion, Morocco at $660 million, and Nigeria at $610 billion, the report, said the reports.

IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.

Although IsDB works across the world, the bank focuses on social development projects in Africa and Latin America, Asia, and Middle East and North Africa.

The Riyadh-based development finance institution has 57 shareholding member states, but Saudi Arabia is its largest single shareholder.

On Wednesday, the bank signed a financing agreement with Benin in West Africa, with a total value of $50 million.

The financing, under the bank’s Lives and Livelihoods Fund, is expected to support community health and nutrition projects in the country.

Over 1,000 health professionals will be trained and deployed to rural areas for five years, and more than 4,000 community health workers will be involved in the project.