Africa

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

Egypt’s Central Bank holds key rates amidst 2.2 percent GDP growth and 27.5 percent inflation

The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."

Oil prices stabilize amid declining U.S. reserves, slower China demand

Brent crude oil futures were down by 4 cents to $83.69 per barrel

Qatar Airways expands Africa network with four weekly flights to Entebbe, Uganda

Qatar Airways now offers 180 weekly flights from Doha to 29 African destinations

Egypt maintains position as Africa’s top investment destination for second consecutive year: UNCTAD

Egypt accounted for 18.6 percent of Africa's total investments, which amounted to $52.6 billion in 2023

Egypt’s annual urban inflation declines to 27.5 percent in June amid ongoing reforms

This downward trend extends from a record high of 38 percent reached in September 2023

Egypt approves $200 million in energy projects with foreign, national companies

Agreements include a deal to search for and exploit gas and crude oil in the North Port Fouad offshore area in the Mediterranean

Egypt’s economic reforms boost remittances: 26.6 percent monthly rise to $2.7 billion in May 2024

The remittances in May 2023 amounted to around $1.6 billion, as reported by CBE

Mohammed Bin Rashid Library to host first Dubai International Library Conference 2024 from 15-17 November 2024

Discussions will include the preservation and restoration of archives, AI, intellectual property, copyright laws

UAE-based startups lead MENA region in funding in June, securing $82.5 million across 15 deals

MENA startups raised $116 million in June 2024, bringing H1 total to $882 million

2024 will likely be the world’s hottest year as June temperatures hit record-high

Global average temperatures in the last 12 months reached the highest on record at 0.76 °C above the 1991-2020 average

Diving into Seychelles’ tourism progress: A paradise with a purpose

Discover the country’s sustainability and conservation efforts

From Middle East to Africa, travel sector reaches new heights in 2024: Report

UAE ranked among the top 10 global travel destinations in the past year

Saudi Arabia’s M&A deal volume surges to $955 million in Q1 2024

The chemicals sector accounted for 52.4 percent of the total

Abu Dhabi’s startup ecosystem ranked fastest growing in MENA, raises $1.06 billion in VC: Report

The emirate was also recognized for its strengths in the FinTech, AgTech and New Food, and ClimateTech sectors

UAE’s real GDP to grow by 3.9 percent in 2024, 4.1 percent in 2025: Report

The broader MENA region is expected to grow 2.8 percent in 2024 and accelerate to 4.2 percent in 2025

Inflation in Egypt predicted to drop by 10 percent by end of June 2025: Report

The report cited the recent floating of the pound exchange rate and an enhanced IMF agreement

UAE exports to Morocco reach around $1.32 billion in 2023

Moroccan exports to the UAE amounted to about $202 million in the same year