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Egypt set to receive $820m in first IMF tranche
Egypt’s currency is poised for a boost next week with the receipt of the first tranche of an expanded loan agreement with the International Monetary Fund.
Prime Minister Mostafa Madbouly confirmed the upcoming financial injection during…
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Kamco Invest Saudi partners with Flexam to introduce European leasing opportunities
Saudi investors will gain access to Shariah-compliant leasing opportunities in Europe’s logistics and transportation sectors following a partnership between Kamco Invest and Paris-based Flexam Invest.
The Saudi arm of Kamco Invest, a…
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S&P revises Oman’s outlook to positive; affirms credit rating ‘BB+/B’
Oman’s improved fiscal position prompted international credit rating agency S&P Global to upgrade the country’s outlook from stable to positive.
It also affirmed the long- and short-term foreign and local currency sovereign credit…
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QatarEnergy to charter 19 LNG more vessels expanding fleet further
QatarEnergy CEO Saad Al-Kaabi announced on Sunday that the company has finalized a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.
In…
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Iraq signs MoU with Siemens, Shlumberger for investment in gas
Iraq on Sunday signed a memorandum of understanding with Siemens Energy and Schlumberger to tackle curb gas flaring and channel the captured resource to boost the country’s power generation capacity.
Deputy Prime Minister for Energy…
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IMF approves Egypt’s expanded, $8 billion loan program
Egypt received approval on Friday from the International Monetary Fund’s executive board for an expanded, $8 billion financial support program that enables the immediate release of $820 million, the IMF said in a statement.
The IMF…
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Saudi e-commerce thrives as sales using Mada cards reach $3.76bn in February
Saudi e-commerce sales using Mada cards reached SR14.11 billion ($3.76 billion) in February – an annual increase of 25 percent, the Kingdom’s central bank has revealed.
This figure includes transactions through online shopping, in-app…
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Regional startups join forces to further propel the ecosystem
Startups across the Middle East and North Africa region are increasingly collaborating through strategic partnerships to enhance the entrepreneurial ecosystem.
Ventures from various industries are forging alliances, and signing…
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Saudi Chambers launch first national committee for military industries
Military industries are set to receive a boost with the Federation of Saudi Chambers announcing the formation of the first special national committee of its kind.
This marks the first time that a committee focused on the defense sector…
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Saudi Arabia, Azerbaijan discuss climate action cooperation ahead of COP29
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman met with Azerbaijan’s Minister of Environment and Natural Resources Mukhtar Babayev on Thursday.
Babayev has also been appointed president of the UN COP29 climate talks which…
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