Africa

Sharjah rises to 4th in GCC region, 7th in MENA in 2024 Global Startup Ecosystem Rankings

Sharjah also featured in the Top 15 rankings for both the Knowledge and Performance categories

The rise of the digital economy: Banks as architects of GCC’s financial future

Open banking and digital payments among technologies that drive transformation in the finance industry

Enabling stablecoin growth in the MENA region: Key factors for success

Crypto assets are available 24/7, have near-zero costs and are fully programmable

Dubai invests over $844 million in Senegal over 13 years: CEO of Dubai Chambers

These investments have created more than 1,200 jobs in the Senegalese market

Egypt targets $30 billion in foreign direct investment in 2024/25 budget

The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion

UAE’s ADFD finances projects worth $9.6 billion in 42 African countries

In 2023, ADFD led a $4.5 billion UAE initiative to boost Africa's clean energy infrastructure

Public cloud spending projected to reach $675 billion globally by 2024: Report

SaaS spending is forecast to grow 20 percent to reach a total of $247.2 billion in 2024

L’Oréal Middle East, AstroLabs launch TechQuest challenge, fueling beauty tech advancements in the region

Out of 535 homegrown startups identified, 14 were shortlisted to innovate next-gen beauty tech for L'Oréal Middle East

Egypt’s exports to Arab nations up 8.7 percent in 2023, reaching $13.6 billion

Saudi Arabia topped the list of Arab countries importing the most from Egypt during the year

UAE construction sector flourishes despite global challenges, holds $590 billion project pipeline: Report

$3.9 trillion is the estimated pipeline value of unawarded construction projects in MENA from 2024-28

Abu Dhabi’s TAQA posts $571.7 million net income in Q1 2024

The group revenues reached $3.7 billion, marking a 5.3 percent increase compared to the previous year

UAE, Mauritius to deepen cooperation in water, energy, sanitation

Areas of collaboration included renewable energy, hydrogen, liquefied natural gas

IHG thrives in the Middle East’s booming travel and tourism market

Leading hospitality brand to open 70 hotels in the region in the next few years

Hilton accelerates growth in the Middle East

New openings to bolster its position as a leading hospitality brand in the region

Four Seasons’ people and culture of service are drivers of hospitality group’s success

Innovative offers – from jet to yacht experience – continue to excite guests from around the world

China’s Xinxing Ductile to invest $400 million in Egypt within 5 years

In April, SCZONE laid the foundation stone of the Xinxing Ductile Iron Pipes Corporation’s factory

Saudi Arabia, Mauritania to cooperate in electricity, renewable energy, and clean hydrogen

The deal aims to enhance electricity system reliability through knowledge exchange and partnership

UAE to add 6.34 GW power capacity from 12 green projects by 2030: Energy Industries Council

These projects showcase UAE's commitment to energy sustainability, reducing fossil fuel reliance

Saudi Arabia’s ICT spending to reach $37.5 billion in 2024

According to experts, the Kingdom is the region's fastest-growing IT market

ADQ forms framework agreement worth up to $500 million investment in Kenya’s priority sectors

Kenya has the largest economy in East Africa and is projected to grow at 5-6 percent in 2024

Russian businesses eye UAE’s market for global development, expansion

Russia sees the UAE market as a promising hub for conducting trade with Middle Eastern and African countries

UAE’s AD Ports secures 20-year agreement to operate, upgrade Angola’s Luanda terminal

AD Ports Group acquires 90 percent stake in joint venture to serve the broader logistics market in Angola

Egypt, Italy to establish AI hub in Cairo to serve Africa

Egypt's strategic location positions it as a key partner in AI development in Africa

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019