UAE sees steady August PMI growth as Kuwait, Egypt contract
Business activity across Middle Eastern and North African economies showed mixed trends in August, with the UAE leading growth while Kuwait and Egypt recorded contractions,…
Category: MENA
Saudi Arabia, UK announce $445m economic partnership
Saudi Arabia and the UK are set to strengthen their economic ties through more than £360 million ($445 million) in joint investments, Business Secretary Jonathan…
Saudi Arabia Sells $5.5 Billion in Dual-tranche Sukuk Sale Strong Demand
Saudi Arabia continues to assert its position as a financial powerhouse in international markets, as its latest issuance of dollar-denominated Islamic bonds, or sukuk, witnessed…
Property tech, gaming firms lead major funding rounds
Investor confidence is rising in Middle East startups, from proptech funding rounds to strategic bets in the growing gaming sector. These moves reflect a broader…
Egypt’s Net Foreign Assets Jump to a Record $18.5 Billion in July
Egypt’s net foreign assets rose by $3.54 billion in July to a record $18.5 billion, central bank data showed, as Gulf investments, a currency devaluation…
Developing Countries Swapping Out of Dollar Debt
Developing countries are moving out of dollar debts and turning to currencies with rock bottom interest rates such as the Chinese renminbi and Swiss franc,…
Lebanon’s Central Bank Shifts Responsibility for ‘al-Qard al-Hassan’ to the State
Lebanon’s central bank has placed responsibility for handling “al-Qard al-Hassan,” the financial arm of Hezbollah, squarely on the state. In a statement clarifying Circular No.…
Saudi Arabia Private Sector Drives Housing Projects Worth Over $106 Billion
Saudi Arabia’s Minister of Municipalities and Rural Affairs and Housing, Majid Al-Hogail, announced that the value of housing projects executed in partnership with the private…
Morocco tests floating solar panels to save water
Sun-baked Morocco, grappling with its worst drought in decades, has launched a pilot project aimed at slowing water evaporation while simultaneously generating green energy using…
How Gulf companies can succeed if boardrooms overcome fear of AI adoption
For many Gulf companies, artificial intelligence solutions are failing to catch on not because of some weakness in the technology, but because corporate leaders are…