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Economy
Egypt’s sovereign wealth fund appoints Noha Khalil new acting CEO
TSFE's board of directors also approved the certification of the Fund's budget for submission to the general assembly
Energy
Oil prices rise on strong API data, ongoing supply concerns
Brent crude futures set to expire in October rose by 0.5 percent to $79.92 a barrel
Energy
Oil prices pause after recent surge amid Middle East tensions, Libyan shutdowns
Brent crude futures declined by 32 cents, or 0.39 percent, to settle at $81.11 per barrel
Industry
World’s second largest 2,492-carat diamond unearthed in new mining discovery
Lucara recovered the diamond using its "Mega Diamond Recovery X-Ray Transmission" technology
Egypt
Egypt outlines strategy to restore, increase oil and gas output to pre-pandemic levels by 2025 with foreign partners
The country is reviving ambitions to become regional LNG hub after clearing petroleum sector arrears
Industry
UAE’s AD Ports Group embraces digitalization, big data to optimize smart operations
The Group's experts address industry challenges like software interoperability, cybersecurity, and change resistance
Banking & Finance
Egypt’s Mashroa’ak program creates over 1.442 million jobs, facilitates $598.1 million in loans
The program has facilitated the implementation of over 212,800 projects
Banking & Finance
Qatar Airways acquires 25 percent stake in Airlink, expanding African reach
Qatar Airways will expand its reach to 45 destinations across 15 African countries
Logistics
DP World, British International Investment pump $35 million into Congo’s first deepwater port
The project aims to unlock Congo's trade potential and boost its economy
Health
Dubai welcomes over 691,000 health tourists, generating $280.42 million in spending
The emirate's indirect revenue from health tourism reached AED2.3 billion in 2023
Energy
Oil prices retreat as geopolitical concerns ease, demand concerns rise
Brent crude futures dropped 0.7 percent, or 53 cents, to $77.13 per barrel
Egypt
Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt
The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt
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