English

Strategic Partnership to Drive Investment in Iraq’s Emerging Sectors

Thursday, 24 October 2024 07:03 PM

A major new agreement was announced in Baghdad, as the Iraq Development Fund and ELSEWEDY ELECTRIC (EE) signed a memorandum of understanding to launch the "Localization Fund."

Madinet Masr Signs Partnership Agreement to Develop a Fully Integrated Residential Project in New Heliopolis with Zahraa Maadi Investment and Development Company.

Thursday, 24 October 2024 06:53 PM

Madinet Masr, one of the leading real estate development companies in Egypt, announced the signing of a contract to develop a 42-feddan plot of land in New Heliopolis in partnership with Zahraa Maadi

Russia pushes for BRICS clearing, depository system to sidestep the West

Thursday, 24 October 2024 06:36 PM

Russia has set out proposals for a unified depository and clearance system for BRICS countries, as it seeks to persuade member nations to deepen financial cooperation without the involvement of the We

Living Yards Developments Launches "Solay": A Unique Residential Community in New Cairo

Wednesday, 23 October 2024 08:29 PM

Living Yards Developments has officially launched its latest project, Solay, a premium residential community spanning 31 acres in New Cairo.

September home sales in the US drop to lowest level since 2010

Wednesday, 23 October 2024 07:09 PM

Sales of previously owned homes fell 1% in September compared with August, to a seasonally adjusted, annualized rate of 3.84 million units, the slowest pace since October 2010, according to the Nation

Turkey Says State Defense Firm Targeted in Deadly Terror Attack

Wednesday, 23 October 2024 07:00 PM

Facilities of Turkish state-run defense firm TAI, also known as TUSAS, were targeted in a “terror attack” that claimed an unspecified number of lives, a government official said.

BoC delivers half percentage point rate cut, says it now must keep inflation at 2%

Wednesday, 23 October 2024 06:43 PM

The Bank of Canada delivered a supersized interest rate cut Wednesday in response to the recent decline in inflation, bringing its key policy rate down by half a percentage point.

MG Developments recently organized a field visit for its employees to Baheya Hospital.

Wednesday, 23 October 2024 06:04 PM

MG Developments has organized a field visit for employees from various departments to Baheya Hospital in Sheikh Zayed City

Zoho Records 33% Revenue Growth in Egypt and Allocates $35 Million in a joint partnership with Fawry to Digitally Empower Businesses in Egypt

Wednesday, 23 October 2024 04:22 PM

Zoho Corp., a leading global technology company, announced a remarkable 33% revenue growth and a 110% increase in its channel partners in Egypt since 2023, highlighting the significant adoption of its

Yellen Says US Aims to Contribute $20 Billion for Ukraine Loan

Tuesday, 22 October 2024 09:16 PM

Treasury Secretary Janet Yellen said Tuesday that the US is nearly ready to offer $20 billion toward a broad Group of Seven-led loan program to help Ukraine.

Kenyan Court Upholds Ruto’s Tax to Fund Affordable Housing

Tuesday, 22 October 2024 06:54 PM

Kenya’s High Court upheld the validity of a tax measure that President William Ruto is using to raise funding for affordable housing, boosting his attempts to steady the nation’s finances.

IMF Lowers Global Growth Forecast, Warns of Increasing Risks

Tuesday, 22 October 2024 06:02 PM

The International Monetary Fund lowered its global growth forecast for next year and warned of accelerating risks from wars to trade protectionism, even as it credited central banks for taming inflati

" Beltone Leasing and Factoring Concludes its First EGP 1.33 Billion Securitization Issuance"‏

Tuesday, 22 October 2024 04:55 PM

Beltone Holding ("Beltone") announces that its wholly owned subsidiary, Beltone Leasing and Factoring, has successfully completed its first securitization issuance, raising EGP 1.33 billion.

Top Grocer LuLu’s Listing Set to Extend Middle East IPO Boom

Monday, 21 October 2024 08:44 PM

LuLu Retail Holdings Plc, which operates one of the Middle East’s largest hypermarket chains, unveiled plans to list in Abu Dhabi in what could be among the region’s biggest initial public offerings o

Hungary Aims to Quadruple Tax on Airbnb-Style Rentals in Capital

Monday, 21 October 2024 08:32 PM

Hungary plans to almost quadruple a tax on short-term rentals and to suspend new licenses for Airbnb Inc.-style apartments as Prime Minister Viktor Orban’s government moves to tackle a deepening housi

More than 300 regional experts gather in Cairo for Boehringer Ingelheim’s Forums to discuss latest advances in cardio-renal-metabolic care

Monday, 21 October 2024 08:18 PM

Boehringer Ingelheim, a leading research-driven biopharmaceutical company, hosted a dedicated event aimed at improving outcomes for patients living with cardiovascular, renal, and metabolic (CRM) dise

Cairo Festival City's Business District Welcomes Huawei New Headquarters

Monday, 21 October 2024 05:44 PM

Cairo Festival City, owned and operated by Al-Futtaim Real Estate, is proud to announce the inauguration of Huawei’s new office, the global leader in ICT infrastructure and smart devices, within the c

McKinsey, BCG’s Hard Road to Partner May Be Eased by Gulf Boom

Sunday, 20 October 2024 08:58 PM

The famously difficult road to partnerships and promotions at some of the world’s largest consulting firms can run through the Middle East these days.

Schneider Electric Unveils Expansion and Sustainability Milestones at Badr Plant

Sunday, 20 October 2024 06:56 PM

Badr Plant has achieved Zero Carbon certification, meeting 20% of its energy needs through on-site solar panels and sourcing the remainder from renewable options

Chinese drone maker DJI sues Pentagon over ‘military’ designation

Sunday, 20 October 2024 06:47 PM

Chinese drone company Shenzhen DJI Innovation Technology Co., Ltd., commonly known as DJI, is suing the U.S. Defense Department in a bid to overturn the department’s designation of the firm as a “mili

Hong Kong’s Sun Hung Kai Sells All Kai Tak Units for Third Week

Sunday, 20 October 2024 06:39 PM

Sun Hung Kai Properties sold all apartments on offer at a key residential project in Hong Kong, marking the third straight week the units have been snapped up in a day as buyers take advantage of disc

Trump vows to deport millions. Builders say it would drain their crews and drive up home costs

Saturday, 19 October 2024 08:29 PM

Both presidential candidates promise to build more homes. One promises to deport hundreds of thousands of people who build them.

Oil prices slip, set for 7% weekly fall on China demand woes, mixed Mideast outlook

Friday, 18 October 2024 10:47 PM

Oil futures declined on Friday, on track for a weekly drop of 7%, after data showed China's economic growth slowed and investors digested a mixed Middle East outlook.

Europe's STOXX 600 ends week higher as tech stocks rebound

Friday, 18 October 2024 09:28 PM

Europe's STOXX 600 ended higher on Friday, as tech stocks made a strong comeback at the end of a bumpy week, while the European Central Bank's rate cut and a flurry of corporate earnings helped the in

Saudi Finance Hub Bigger Than Canary Wharf Seeks $700 Million

Thursday, 17 October 2024 08:22 PM

Saudi Arabia’s main finance district — almost three times the size of London’s Canary Wharf — is looking to raise about $700 million from equity investors to fund further development of its Riyadh rea

Turkey Hardens Tone on Rate Hold, Reducing Chance of Cut in 2024

Thursday, 17 October 2024 07:17 PM

Turkey’s central bank extended its interest-rate pause for a seventh month and adopted a more hard-line stance on the course of inflation, pushing back expectations for a rate cut into next year.

ECB Cuts Rates for Third Time to Prop Up Weakening Economy

Thursday, 17 October 2024 06:14 PM

The European Central Bank lowered interest rates for the third time this year as a hastier retreat in inflation allows it to offer support to the region’s stuttering economy.

Israel Says Hamas Chief May Have Been Killed in Gaza Attacks

Thursday, 17 October 2024 05:22 PM

Israel said an operation in Gaza may have killed Hamas leader Yahya Sinwar, part of a renewed assault against the militant group after more than a year of war in the Palestinian territory.

Novavax Shares Plunge After FDA Places a Hold on Its Flu Shots

Wednesday, 16 October 2024 07:39 PM

Novavax Inc. shares fell 20% after US regulators placed a hold on the development of its experimental flu vaccines following a severe adverse event that occurred in a single clinical trial participant

South Africa Food Insecurity Deepened Last Year as Inflation Bit

Wednesday, 16 October 2024 07:26 PM

The number of people in South Africa able to meet their minimum nutritional needs slipped last year, as a weak economy and inflationary pressures hit households and deepened food insecurity.