Emerging crypto hub UAE shapes digital assets’ future
"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services...Business Opinion Uncategorized
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...Business Economy Infographic
Egypt and Greece to sign a deal for power interconnection
Egypt and Greece will sign a preliminary deal to build an electricity interconnection between the two countries in Athens on...It will constitute the first interconnection between Europe and Africa in the Southeastern Mediterranean region
The agreement comes a week after Egypt’s signing of an $1.8 billion electrical connection project with Saudi Arabia
Etihad raises first ESG loan in global aviation
Etihad Airways has raised $1.2 billion in what is the first sustainability-linked loan tied to ESG targets in global aviation.Etihad selected HSBC and First Abu Dhabi Bank as the strategic partners and financiers for this transaction
The two acted as Joint ESG Structuring Banks, Joint ESG Coordinators, Joint Bookrunner and Mandated Lead Arranger
Egypt stops buying wheat due to high cost
Egypt, the world’s biggest importer of wheat, has stopped buying the grain because the price of it is too high...This is the fourth time this year that Egypt has balked at offers in a tender
The country imports huge amounts of wheat in order to subsidize bread for its citizens
Saudi Industrial Development Fund unveils three new products
The Saudi Industrial Development Fund has unveiled a set of programs and initiatives as part of its annual meeting to...The launch included a land, a logistic loan, a supply chain financing product and an industrial business incubator program
Over 60 logistic zones will be developed by 2030 to support exports, e-commerce and re-export operations
CBUAE, ADGM to cooperate in FinTech sector
CBUAE and ADGM will collaborate on the development and growth of the FinTech ecosystem in the UAE.Under the agreement, CBUAE and ADGM will enhance the collaboration under their co-sandbox program
This will enable FinTech companies to test their innovative solutions under the existing digital sandbox program
Fertiglobe IPO may raise $827m
The IPO starts Wednesday and will continue to October 18.The IPO price range of $0.66 to $0.72 implies equity valuation of $5.5bn-$6bn.
The company expects to distribute a dividend of $200 million in April 2022 for the H2, 2021.
Tunisia, Morocco hoteliers eye an end to Covid woes
Tunisia found itself on European nations' red lists, making it virtually impossible for holidaymakers from major markets including France, Germany...In a good year like 2019, Tunisia registers about nine million hotel stays, and the tourism sector accounts for up to 14 percent of GDP.
Roughly 3.5 million visitors entered Morocco by the end of August, up from 2.2 million the year before.
Apple cuts iPhone 13 output forecast on chip shortage: report
Apple is unlikely to meet production goals for its new iPhone before the holidays because of a global electronic chip...The firm will have to settle for 80m against the planned 90m iPhone 13s.
Chip shortages were affecting all parts of the industry, not just Apple, said Apple chief Tim Cook.
DP World inks deal with MAN Energy Solutions
This is the latest in the several agreements the two companies have had over the years.As a result of the agreement, both parties will now eye common progress in the field of decarbonization
The agreement is scheduled to run for five years with an option to extend thereafter
Madayn lands Oman solar deal
Madayn has signed a deal to build a 100MW solar PV farm.Oman-based Madayn has signed an agreement with Mubadrah and Solar Wadi to build a solar farm
Madayn, also known as Public Establishment for Industrial Estates, will build the farm in the Suhar Industrial City
