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Africa
Hospitality & Tourism
IHG thrives in the Middle East’s booming travel and tourism market
Leading hospitality brand to open 70 hotels in the region in the next few years
Hospitality & Tourism
Hilton accelerates growth in the Middle East
New openings to bolster its position as a leading hospitality brand in the region
Hospitality & Tourism
Four Seasons’ people and culture of service are drivers of hospitality group’s success
Innovative offers – from jet to yacht experience – continue to excite guests from around the world
Egypt
China’s Xinxing Ductile to invest $400 million in Egypt within 5 years
In April, SCZONE laid the foundation stone of the Xinxing Ductile Iron Pipes Corporation’s factory
Saudi Arabia
Saudi Arabia, Mauritania to cooperate in electricity, renewable energy, and clean hydrogen
The deal aims to enhance electricity system reliability through knowledge exchange and partnership
Sustainability
UAE to add 6.34 GW power capacity from 12 green projects by 2030: Energy Industries Council
These projects showcase UAE's commitment to energy sustainability, reducing fossil fuel reliance
Saudi Arabia
Saudi Arabia’s ICT spending to reach $37.5 billion in 2024
According to experts, the Kingdom is the region's fastest-growing IT market
Economy
ADQ forms framework agreement worth up to $500 million investment in Kenya’s priority sectors
Kenya has the largest economy in East Africa and is projected to grow at 5-6 percent in 2024
Economy
Russian businesses eye UAE’s market for global development, expansion
Russia sees the UAE market as a promising hub for conducting trade with Middle Eastern and African countries
Logistics
UAE’s AD Ports secures 20-year agreement to operate, upgrade Angola’s Luanda terminal
AD Ports Group acquires 90 percent stake in joint venture to serve the broader logistics market in Angola
Egypt
Egypt, Italy to establish AI hub in Cairo to serve Africa
Egypt's strategic location positions it as a key partner in AI development in Africa
Economy
UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation
This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019
Economy
Egypt’s net foreign assets deficit falls to $1.36 billion in March: CBE
International reserves increase to $40.361 billion from $35.311 billion in February
Egypt
Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent
SCZONE inked 14 agreements with major Chinese companies to boost investment
Sustainability
Africa faces $277 billion annual climate adaptation funding shortfall, warns African Development Bank President
Adesina said the devastating African drought demands urgent, collective action to boost support and financing
Economy
Egypt to ensure foreign currency availability through maintaining flexible exchange rate
This represents a key condition for Egypt's $8 billion loan program signed with the IMF
Economy
Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report
The report predicts an 18.1 percent average annual headline inflation rate
Egypt
Egypt targets 3-5 year timeline for IPO program, finance minister reveals
Maait highlighted that Egypt is on track to achieve financial stability after facing a severe economic crisis
Economy
Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda
Egypt further plans to sell more state assets, which would reduce the state's role in the economy
Economy
World Bank raises forecast for UAE’s real GDP growth to 3.9 percent in 2024; 4.1 percent in 2025
The report indicates the UAE's current account surplus is expected to reach 8.4 percent in 2024 and 8.3 percent in 2025
Economy
ICAEW’s Chief Economist Scott Livermore on oil output strategy, economic diversification importance for GCC growth plans
Sustained oil output, growing non-oil investments key to healthy economy
Banking & Finance
EFG Holding Group CEO Karim Awad: Investing in infrastructure and innovation to stay ahead
Future-proofing business key to meeting shareholder expectations and long-term success
Op-eds
Embracing new opportunities amid shifting global economic dynamics
Insights into economic trends, entrepreneurial efforts driving growth in UAE and KSA
Interviews
Bain & Company on hitting sustainability goals, overcoming challenges and leveraging opportunities
70 percent of MENA organizations have clear targets, Bain & Company Middle East reveals
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