Africa

Emirates ramps up Africa network with more flights to Entebbe, Addis Ababa, Johannesburg

Emirates will increase frequency in Ethiopia, with a daily flight connecting Dubai and Addis Ababa from January 1, 2025

Etihad Airways to launch new flights to Egypt’s Al Alamein starting July 2025

The move will offer travelers direct access to the Al Sahel region, renowned for its vibrant and rapidly developing coastal resorts 

Orange Middle East and Africa, Mastercard collaborate to digitize payments for millions across Africa by 2025

Partnership to empower millions of Orange Money wallets with digital payments by 2025, boosting financial inclusion in seven countries

Modon Holding partners with LuLu to develop retail facilities in UAE, Egypt

The two entities will identify prime retail locations, implement smart innovations, enhance logistics, and improve customer experiences

Central Bank of Egypt holds key interest rates steady amid inflation control, mixed economic indicators

The committee noted that this decision reflects recent global and local developments

AWS and e& sign $1 billion agreement to enhance cloud solutions, support AI for digital transformation

The focus will be on cloud services like storage, computing, networking, cybersecurity, and AI/ML advancements

Saudi Arabia, Egypt ink maritime connectivity agreement to enhance passenger transport and expertise exchange

The collaboration areas include yacht and marine passenger transport, plus passenger ferries

Egypt’s inflation reaches 26.4 percent in September driven by fuel, electricity hikes

On a month-to-month basis, prices increased by 2.1 percent, consistent with the previous month's 2.1 percent rise

How Alef Education shapes the future of learning in MENA

EdTech company’s innovative products include Alef Platform, Arabits, and Alef AI Tutor

Egypt’s external debt falls by $15 billion in six-month period, says PM Madbouly

Egypt's external debt stood at $168 billion in December 2023 and fell to $152.8 billion by last June

Emirates makes touchdown to Lagos, Nigeria

The daily service is strategically scheduled to optimize connections to key locations, enhancing business and leisure travel to and from Nigeria

DP World expands investment plans in Mozambique to enhance regional trade opportunities

The logistics giant has long operated at the Port of Maputo and recently extended its concession by 25 years, now lasting until 2058 

UAE commits $30 million to boost Ghana’s biodiversity and climate initiatives

The framework outlines six key investment areas, including biodiversity corridors, reforestation

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

Oil prices decline as Libya and OPEC+ boost output, while China’s stimulus offers support

Brent crude futures decreased by 20 cents, or 0.28 percent, settling at $71.40 per barrel

Oil prices steady amid Libyan production hopes, strong U.S. demand

Brent oil futures for November rose by 0.1 percent to $73.51 per barrel

Investec expands presence in Middle East with new office at Dubai International Financial Centre

The DIFC office will connect HNWIs, family offices, and financial institutions in the GCC, providing advisory services in private banking and wealth management.

Kuwaiti investments in Egypt surpass $20 billion

Efforts are underway to organize the joint trade committee between the two countries as soon as possible

Mashreq closes AED-denominated $136.13 million syndicated loan for TDB

Facility launched in July and was successfully subscribed by seven leading institutions from the Gulf region

Egypt invests $300 billion in infrastructure development over 10 years, says minister

El Khatib underscored the need to continue infrastructure development to achieve 6 to 7 percent economic growth

Dubai’s Emirates launches luxurious new lounge at London Stansted Airport 

This new lounge is Emirates' sixth in the U.K., alongside those at Heathrow, Gatwick, Birmingham, Glasgow, and Manchester 

Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

Deal-making in the region remained active, with 214 transactions recorded in H1 2024