Africa

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

DP World Trade Finance, Nedbank partner to deliver working capital solutions in Africa

DP World Trade Finance implemented a supply chain finance program on its platform, with Nedbank CIB as the financer

Saudi-Egyptian investment protection deal to launch in two months, says PM Madbouly

The trade between Saudi Arabia and Egypt surpassed $33 billion during 2022 and 2023

Saudi Crown Prince and Egyptian Prime Minister discuss bilateral relations, aspects of cooperation

Several prominent figures from both sides were in attendance at the meeting 

Dubai to host ‘The Africa Debate’ on October 31 to boost trade, investment

The event reflects the UAE's commitment to strengthening its economic and trade relationships with African nations

UAE’s AD Ports awards $114.34 million crane contracts to ZPMC for terminal projects in Africa

Terminals will get three Super Post-Panamax STS cranes, servicing 21 container rows over 60 meters

Egypt’s annual inflation rate stands at 25.6 percent in August 2024, says CAPMAS

The general CPI rose to 231.1 points in August 2024, reflecting a monthly inflation rate of 1.9 percent  

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments