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Africa

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.
  • UN warns record e-waste in 2022 a catastrophe for environment

    On average, every person on earth generates roughly 7.8 kilograms (17 pounds 3 ounces) of e-waste each year, said the report from the UN Institute for Training and Research (UNITAR) and the International Telecommunication Union (ITU), another UN agency.
  • Algeria offers Sahara tourists visas on arrival

    In a statement, it said that "foreigners heading to the south of the country" who have tours booked with licenced local companies could obtain visas "on arrival at airports and land borders, instead of going through normal visa procedures". It also boasts 1,200 kilometres (745 miles) of Mediterranean coastline and...
  • Groundbreaking of integrated 450,000-sqm Metal Park held in KEZAD

    Abu Dhabi, UAE-- The ground breaking of a 450,000 sqm integrated Metal Park in Abu Dhabi was attended by senior executives from the Khalifa Economic Zones Abu Dhabi – KEZAD Group, the integrated trade, logistics, and industrial hub of the emirate. The Metal Park Investment ME's Park will be equipped...
  • Morocco sentences for migrants over Melilla tragedy ‘unjust’: rights group

    Morocco and Spain governments have insisted the migrants were to blame for the June 24 tragedy, with Rabat saying some died after falling while trying to scramble over the fence, while others suffocated as people panicked and a stampede started.
  • Morocco World Cup team arrives home to heroes’ welcome

    The team and their coach Walid Regragui waved from an open-topped bus as they were driven from the airport and around central Rabat, accompanied by dozens of police cars and motorbikes with flashing lights and wailing sirens. "I'm so proud of our team. Who knows -- maybe next time they...
  • Morocco down Portugal to become first ever African World Cup semi-finalists

    Morocco became the first African nation to reach the World Cup semi-finals as Youssef En-Nesyri's first-half goal sealed a tense 1-0 victory over Portugal at Al Thumama Stadium. The Atlas Lions, also the first Arab team to make the last four, added Portugal to their list of European scalps with...
  • e& partners with Bespin Global to offer cloud managed services in METAP region

    The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
  • WHO urges malaria funding boost as deaths stay stubbornly high

    The World Health Organization called for more funds to help overcome towering challenges in the battle against malaria, which continues to kill hundreds of thousands of mainly African children each year. It warned that the world was currently "off track" to reach its goal of reducing malaria cases and deaths...
  • AD Ports Group, Africa Finance Corporation sign collaboration agreement

    Abu Dhabi, WAM---AD Ports Group has signed a collaboration agreement with the Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, to address infrastructure gaps across the continent. The agreement provides the basis for the two organizations to join forces on identifying, financing, developing and investing in much-needed ports,...
  • Glencore to pay US$180m

    Payment for settling graft claims against firm in DR Congo.
  • VOX Cinemas unveils debut slate of original Arabic films

    Diverse line-up of movies features local stories from new and established storytellers from Saudi Arabia, Egypt, Lebanon and UAE.
  • EIC calls UAE as the leader in renewable energy sector

    London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on the state of the UAE’s energy industry, showcasing the country’s energy mix and its leading position in renewable energy sector. “The UAE offers a great mix of energy projects for...
  • North Africa takes lion’s share as fintech and sustainability lead MENA startup scene

    Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.
  • Americana IPO: UAE retail offer doubled

    Saudi retail tranche remains unchanged at 10 percent.
  • EU pledges US$1bn in climate funding for Africa

    The initiative, launched at UN climate talks along with France, Germany, the Netherlands and Denmark, will combine "existing and new" programmes to prepare for future impacts of a warming world, European Commission Vice President Frans Timmermans said, without detailing the total amount of new finance.
  • COP27 focuses on ways and means to feed 8 billion people

    The adaptation and agriculture thematic day at COP27 focused on how the world will feed eight billion people.
  • COP27: $1.4 bn climate grant for Africa, S. Asia farmers

    A COP27 announcement said the Bill and Melinda Gates Foundation grant, distributed over four years, is earmarked for scaling up regional innovations that build resilience against drought, heat waves and extreme flooding amplified by a warming world.
  • COP27 summit opens as world races against climate clock

    Just in the past few months, climate-induced catastrophes have killed thousands, displaced millions and cost billions in damages across the world. Massive floods devastated swaths of Pakistan and Nigeria, droughts worsened in Africa and the western United States, and cyclones whipped the Caribbean.
  • Americana to sell 30% stake in IPO

    The company will list on ADX and Saudi Tadawul by Dec. 6.
  • Yellow Door closes $400m equity raise

    It plans to deploy $1bn in sustainable energy projects.
  • Algeria, France hail ‘new dynamic’ in economic ties

    The Algerian and French prime ministers hailed a "new dynamic" as they launched a joint economic forum during a visit to Algiers by France's Elisabeth Borne. The French PM's two-day trip to Algeria comes just weeks after President Emmanuel Macron concluded his own three-day visit in August, following months of...
  • French PM leads delegation to Algeria as ties improve

    French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the former French colony and major gas exporter. Her two-day trip along with 16 ministers comes just six weeks after President Emmanuel Macron concluded a three-day visit aimed at ending months...
  • Morocco triples migrants’ jail terms over border storming

    The 18 migrants -- among more than 60 arrested following the Melilla tragedy -- had initially been sentenced to 11 months in prison.
  • UAE to develop international maritime network

    The Ministry of Energy and Infrastructure (MoEI) announced the launch of the "UAE Maritime Network".
  • Climate-fueled hunger more than doubles in worst-hit countries: report

    The analysis, "Hunger in a heating world," found that acute hunger had risen 123 percent over six years in the ten most-affected nations, defined by the most number of UN weather appeals. "The effects of severe weather events are already being felt," Lia Lindsey, Oxfam America's senior humanitarian policy advisory...
  • Putin wants talks with Erdogan over Ukraine grain

    The Kremlin said that President Vladimir Putin will discuss with Turkish President Recep Tayyip Erdogan a deal allowing grain exports from Ukraine that Russia has criticized. The agreement between Russia and Ukraine, brokered by Turkey and the United Nations, designated three ports for Kyiv to send grain supplies through a...
  • Egypt vows to champion climate finance for Africa at COP27

    Egypt's environment minister Yasmine Fouad said that Egypt will also remind rich countries of the industrialized world of their unfulfilled aid pledges, at the COP27 summit in the Red Sea resort of Sharm el-Sheikh. The country seeks to represent Africa which shares little of the blame for global warming but...
  • Turkey denounces Macron’s remarks as ‘unacceptable’

    Turkish foreign ministry denounced the comments as "unacceptable." The ministry said that French President has "difficulties in confronting his colonial past in Africa, especially Algeria."
  • Japan vows billions at Africa investment conference

    Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a development conference in Tunis. The eighth Tokyo International Conference on African Development (TICAD8) takes place amid a "complex" international environment caused by the coronavirus pandemic and the war in Ukraine,...
  • Tunisia recalls Morocco envoy in W. Sahara row

    Tunisia said Saturday it would recall its ambassador from Morocco for consultations, a day after the kingdom did the same in response to Tunisia's president hosting the Polisario movement's head. The Polisario wants an independent state in Western Sahara, a stretch of mineral-rich desert which Morocco sees as a part...
  • Macron calls for ‘new pact’ with Algeria in reconciliation visit

    The trip follows months of tensions between Paris and the North African country, which earlier this year marked six decades of independence following 132 years of French rule. The three-day visit also comes as European powers scramble to replace Russian energy imports -- including with supplies from Algeria, Africa's top...
  • Japan seeks ‘sustainable world’ in Africa aid forum

    The eighth Tokyo International Conference on African Development (TICAD8) comes against the backdrop of China's rising influence, cemented on the continent by its "Belt and Road" infrastructure initiative. A "complex" international environment caused by issues including "the situation in Ukraine" surrounds the meeting in Tunisia's capital, the Japanese foreign ministry...
  • AD Ports, Hutchison to explore investments in GCC, Asia, Africa

    Abu Dhabi Ports and Hutchison Ports have signed an MoU to identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa and Asia. The two organizations will also form a partnership to operate within Tanzania, where they will work closely together to explore...
  • Melilla migrants likely died of ‘suffocation’: Moroccan probe

    At least 23 migrants who died last month in a mass attempt to enter the Spanish enclave of Melilla from Morocco likely "suffocated", Morocco's state-backed CNDH rights group said on Wednesday. The death toll after around 2,000 people, many from Sudan, stormed the frontier on June 24 was the worst...
  • EU, Morocco to step up anti-smuggling ties after migrant deaths

    At a meeting Friday in Rabat, the EU and Morocco "agreed to renew their partnership in order to work together to tackle human smuggling networks.
  • 1,600 African companies join Dubai Chambers since Oct 2021

    Over 1,600 new African member companies have registered with Dubai Chambers since October 2021, growing 6.5 percent to reach 26,420 today, the Chambers said. In October 2021, the Chamber hosted the sixth edition of the Global Business Forum Africa (GBF Africa) on the sidelines of Expo 2020 Dubai – a...
  • MEASA has world’s highest growth potential but untapped largely: Report

    Middle East, Africa and Southern Asia (MEASA) has the world’s highest growth potential, according to a report by the New York University Abu Dhabi (NYUAD) Transition Investment Lab (TIL). The TIL marked its first year of activities by publishing its inaugural Annual Report, which studies how sustainable investments can contribute...
  • Pfizer offers to sell medicines at cost to poorest countries

    US pharmaceutical giant Pfizer on Wednesday said it would sell its patented drugs on a not-for-profit basis to the world's poorest countries, as part of a new initiative announced at the World Economic Forum in Davos. "The time is now to begin closing this gap" between people with access to...
  • Dubai Chamber of Commerce reports 55% membership growth in April 2022

    The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to 300,000 companies.
  • Qatar calls on Chad to delay national peace dialogue

    Qatar, which has been leading tense mediation between Chad’s military government and opposition rebels for six weeks, on Sunday called for landmark national talks to be postponed. The African state’s military leader Mahamat Idriss Deby Itno had wanted a national dialogue to start on May 10 to prepare elections.
  • Iran exports to Africa up by 107% to $1,195m

    The first five countries for Iranian exports were Ghana ($353 million), South Africa ($254 million), Nigeria ($125 million), Mozambique ($98 million), and Kenya ($77 million).
  • Middle East and Africa may add 14 GW of wind power capacity

    The Middle East and Africa can add 14 gigawatts of new wind power capacity in the next five years, according to latest Global Wind Report by the Global Wind Energy Council (GWEC).
  • Muslims face frugal Ramadan as Ukraine war drives up food prices

    Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations for the holy month of Ramadan and forcing a turn to frugal iftar sunset meals. From Lebanon to Tunisia and Somalia, Muslims who traditionally break a dawn-to-dusk fast with lavish...
  • Microsoft addresses graft charges

    An ex-employee said it paid bribes in the Middle East and Africa.
  • Qatar takes up mediation role in Chad talks to unblock fledgling process

    "Chadian parties have officially requested to Qatar to mediate in the peace negotiations," Qatar government’s special envoy for mediation said.
  • UAE foreign affairs minister stresses peaceful resolution of Ukraine conflict

    The ministers of UAE and Russia discussed cooperation between the two countries and ways to enhance the bilateral strategic partnership in various fields. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met today with Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation, in...
  • Rising food prices shake North Africa as Ukraine war rages

    Tunisia, Morocco, and Libya, along with several other Arab countries, import much of their wheat from Ukraine and Russia.
  • Ukraine war to ‘deeply destabilise’ food supply in Europe, Africa: Macron

    “Europe and also Africa will be very deeply destabilised as regards food because of what can’t be planted right now in Ukraine,“ Macron told reporters.
  • UAE sends 46 tons of food supplies to Malawi

    Over the past 10 years, the UAE has reportedly sent relief supplies to Malawi amounting to AED85.3 million ($23.23 million).
  • DP World acquires 100% stake in Imperial

    The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability.
  • North Africa-Europe migrant deaths at sea up 155%: UN

    The surge in deaths came alongside evidence of both increased arrivals in at least one key destination and rising interceptions.