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Egypt seeks to restore passenger air traffic to pre-pandemic levels
Egyptian Civil Aviation Minister Mohammed Manar has called for the concerted efforts required to restore passenger air traffic to what it was before the pandemic.
His call came as ways to maximize EgyptAir’s returns outside the country,…
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Bahrain’s Batelco expands into the fintech sector
Bahraini telco Batelco has expanded into the financial technology (fintech) sector, it was announced on Sunday.
The company obtained the necessary licenses from the Central Bank of Bahrain (CBB) and the new entity, to be called Batelco…
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PIF set to take stake in McLaren as motor group refinances
Saudi Arabia’s Public Investment Fund (PIF) is in advanced talks to acquire a stake in McLaren Group as part of a £550 million funding round that could be announced within days, Sky News reported, citing unnamed bankers.
The deal will…
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US-fund North Base Media invests in Majarra to develop Arabic web
Global digital media investor North Base Media (NBM) has announced its investment in Abu Dhabi-based Majarra, a leading Arabic online content provider in the region.
“We’re delighted to have a high-quality and specialized investor like…
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Egyptian food ordering platform raises $10m in funding
Elmenus, Egypt’s largest food ordering platform, has raised $10 million in new funding.
Founded in 2018 and with about 1.5 million monthly users, the new funding round was led by Egyptian firms Fawry Group and Marakez, and the US-based…
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Travel stocks fall in Europe as inflation fears escalate
European shares slipped from their peak on Wednesday, worries about inflation weighed on global sentiment, while travel stocks fell on worries about the spread of a "delta" strain on the continent.
By 07:08 GMT, the pan-European Stoxx 600…
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Bloomberg: The White House is preparing a digital trade agreement to confront China in Asia
Sources told "Bloomberg" that the White House is working on preparing a digital trade agreement that includes the economies of India and the Pacific, as the US administration seeks to confront China in Asia.
According to one of the…
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Amid expectations of a shortfall in supply, oil prices rise by about 2%
Oil prices rose by about 2 percent after the International Energy Agency announced that the market will witness a shortage of supplies due to differences between major producers over the amount of additional crude shipped around the world.…
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Bulgarian ‘Fly Now, Pay if Okay’ startup in talks with potential backers
A Bulgarian startup that allows customers to buy flight tickets and only pay when the plane touches down on time at its destination is in talks with potential backers in the Middle East, ahead of an official launch later this year.…
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Egypt’s largest private bank nets huge profits in Q2
Commercial International Bank (CIB), Egypt’s largest private bank, achieved a 23.6 percent annual growth in net profits for the second quarter of 2021, amounting to 3.22 billion Egyptian pounds ($205,351).
The bank’s consolidated…
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