Africa

Oil prices drop as OPEC+ production rises, demand weakens

Brent crude futures dropped by 61 cents, or 0.8 percent, settling at $76.32 a barrel

UAE’s AD Ports climbs to 19th place in 2024 global rankings: Report

The port operator expanded to 33 terminals across 8 countries in 2024

Oil prices steady amid smaller U.S. inventory draw, Libya’s supply concerns

Brent oil futures for October delivery dipped slightly to $78.62 a barrel

Egypt announces new oil discovery in Western Desert with daily yield of 7,165 barrels

The well was drilled to a depth of 270 feet into the Paleozoic sands

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

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

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

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 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

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

Qatar Airways acquires 25 percent stake in Airlink, expanding African reach

Qatar Airways will expand its reach to 45 destinations across 15 African countries

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

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

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

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

What does Egypt’s new carbon market mean for the future of climate finance?

The move is a step towards a mandatory market, requiring carbon reduction projects and emissions calculations

Abu Dhabi, Dubai ranked top liveable cities in Middle East and Africa

Among the top-ranking GCC cities were Kuwait City, Doha and Bahrain in the 3rd, 4th and 5th places, respectively

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

10 most expensive cities in the world in 2024 for international workers

Of the 10 most expensive cities in the world for international visitors, half are in Western Europe, with Switzerland being home to four

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