Africa

Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures

The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June

Egypt’s overseas workers send home $7.5 billion in Q2 2024, signaling success of IMF-inspired currency reform

Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market

G20 pushes for great fortunes tax to fund climate disaster preparedness 

The G20 DRRWG meeting focused on the critical importance of financing for resilient infrastructure and early disaster risk warnings

IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement

The decision follows a positive economic assessment since the program's launch in December 2022

UAE and Morocco finalize CEPA to boost goods and services trade through tariff cuts, regulatory reforms

In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019

Egypt’s economy growth to rebound to 4.99 percent in 2025/26 amid policy tightening 

The country’s growth is projected at 4 percent for FY 2024/2025

Dubai International Chamber attracts 24 multinational companies in H1 2024

Chamber supported the expansion of 34 local companies into new global markets through its international offices

Egypt sets sights on $5 billion investment goal with India by 2027

Through renewable energy, green hydrogen, and engineering initiatives

Global aviation industry to see over 10,500 aircraft deliveries worth $640 billion by 2043: Report

Smaller aircraft deliveries will drive global demand with orders for 8,470 jets of up to 150-seat capacity by 2043

Air Arabia to connect Sharjah and Maldives with daily non-stop flights

The new route offers travelers more convenient and affordable ways to explore a popular South Asian destination

UAE and Seychelles partner to promote local currency usage, interlink payment and messaging systems

This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement