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Top Grocer Lulu Boosts Size of Abu Dhabi IPO to $1.72 Billion

Monday, 04 November 2024 08:42 PM

Lulu Retail Holdings Plc increased the number of shares on offer in its Abu Dhabi initial public offering, and now targets raising as much as $1.72 billion in the United Arab Emirates’ biggest listing

Israel Sees an Unprecedented Surge in Citizens Spying for Iran

Monday, 04 November 2024 05:17 PM

As its war with Iranian proxies drags into a second year, Israel’s top officials are alarmed about a new threat to the home front: their fellow citizens helping Tehran locate targets for missile salvo

Egypt's leading e-payments solutions provider

Fawry Breaks Ground as the 1st in MENA & 10th in the world to Achieve Dual CPOC and MPOC Certifications for its Soft POS Solution

Monday, 04 November 2024 04:51 PM

Fawry, Egypt's leading e-payments solutions provider, announced today that its fully in-house developed Soft POS solution has successfully completed the MPOC certification cycle, making it the first

City Centre Almaza Marks Five Years of Success, Community Impact and Innovation in the Egyptian Market

Monday, 04 November 2024 04:15 PM

Majid Al Futtaim, a leading pioneer in shopping malls, communities, retail, and leisure across the Middle East and Africa, celebrated City Centre Almaza’s fifth anniversary, underscoring its signifi

Turkey Gets Little Relief as Inflation Slows Less Than Expected

Monday, 04 November 2024 03:56 PM

Turkey’s inflation eased slightly less than expected last month, likely reinforcing the view among many economists that an interest-rate cut is off the table this year.

Netanyahu’s Office Is Accused of Leaks to Thwart Gaza Cease-Fire

Sunday, 03 November 2024 06:24 PM

Two months ago, when a cease-fire between Israel and Hamas seemed close, a new obstacle arose: Prime Minister Benjamin Netanyahu said his troops must hold the Gaza-Egypt border to prevent Hamas from r

China Urges Czech Government to Help Resolve EV Spat With EU

Sunday, 03 November 2024 06:17 PM

China is urging the Czech government to play an active role in helping resolve the trade dispute with the European Union over electric vehicles, according to a statement posted on the Ministry of Comm

Election Anxiety Grips Emerging Markets as Investors Slash Risk

Sunday, 03 November 2024 05:48 PM

From Mexico City to Shanghai, traders whipsawed by a volatile year are preparing for a fresh political jolt: A US presidential election that’s threatening to upend global trade and potentially roil th

Menthum Unveils "Menthum Goals!" – Egypt’s First-Ever Goal-Based Savings Solution, Enhancing Financial Wellness for All

Sunday, 03 November 2024 03:57 PM

Menthum, Egypt’s pioneering fintech startup, has launched “Menthum Goals!”, a first-of-its-kind digital savings proposition designed to transform how individuals plan, save, and achieve their financia

Malaysia Orders Sovereign Fund Audit on Loss-Making Venture

Saturday, 02 November 2024 07:07 PM

Malaysian Prime Minister Anwar Ibrahim ordered sovereign wealth fund Khazanah Nasional Berhad to carry out an internal audit to investigate issues related to 43.9 million ringgit ($10 million) in inve

Berkshire’s cash soars to $325 billion as Buffett sells Apple, BofA; operating profit falls

Saturday, 02 November 2024 06:11 PM

Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, slashing their holdings in Apple and boosting cash to a record $325.2 billion.

Investors Press IMF on Egypt’s Currency After Pound Holds Steady

Friday, 01 November 2024 08:43 PM

Investors have pressed the International Monetary Fund for details about the Egyptian pound’s steady performance despite authorities’ commitment to a flexible exchange rate, according to people famili

US Payrolls Increase by Just 12,000, Hit by Storms and Strikes

Friday, 01 November 2024 07:12 PM

US hiring advanced at the slowest pace since 2020 in October while the unemployment rate remained low, a month distorted by severe hurricanes and a major strike at Boeing Co.

UK to Hike Taxes on Amazon, Online Giants to Help High Street

Friday, 01 November 2024 06:31 PM

The UK Treasury said it plans to raise business rates levied on large distribution warehouses used by online retailers such as Amazon.com Inc. in a move designed to fund lower tax bills for high stree

Mortgage Rates Jump for Fifth Week, With 30-Year Reaching 6.72%

Thursday, 31 October 2024 09:22 PM

Mortgage rates in the US rose for the fifth week in a row.

Currency Traders Are Positioning for Global Surge in Volatility

Thursday, 31 October 2024 06:49 PM

Traders are preparing for a surge in currency volatility around the world after the cost of hedging dollar moves over the next week climbed to the most expensive since early 2020.

Saudi Arabia's PIF signs MoUs worth up to $51 bln with Japanese banks

Thursday, 31 October 2024 06:40 PM

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has signed five Memorandums of Understanding (MoU) with Japanese financial institutions worth up to an overall $51 billion, it s

Chinese factory activity expands for first time in six months

Thursday, 31 October 2024 04:37 PM

Chinese factory activity strengthened for the first time in six months in October, in a heartening signal for policymakers as they prepare a crucial fiscal package to support the world’s second-larges

Pending Home Sales in US See Biggest Gain Since Summer 2020

Wednesday, 30 October 2024 06:39 PM

US pending home sales saw their biggest gain in more than four years in September, as a late-summer dip in borrowing costs and more selection on the market lured buyers.

Saudi Arabia Upbeat on FDI as 2030 Goal Remains Distant

Wednesday, 30 October 2024 05:39 PM

Saudi Arabia sees recent trends in foreign direct investment moving in the right direction, while conceding the kingdom has a long way to go to meet its 2030 goal of attracting $100 billion a year.

German Economy Avoids Recession But Not Broader Crisis

Wednesday, 30 October 2024 04:58 PM

Germany’s economy, Europe’s largest, has once again avoided a technical recession but businesses and consumers keep sending warning signals that the challenges engulfing the country are becoming harde

Mountain View Honored with Dual Accolades at the 2024-2025 African Property Awards Qualifying to Compete in The International Property Awards

Wednesday, 30 October 2024 04:41 PM

Mountain View announced securing two awards at the 2024-2025 African Property Awards, qualifying the company to compete in the International Property Awards

Schneider Electric First in Industry to Obtain Higher Level Cybersecurity Certification for EcoStruxure™ IT DCIM Solutions

Wednesday, 30 October 2024 04:32 PM

Simplifying the process of installing firmware Companies are challenged to keep up with firmware updates

Looming Debt Spiral in Emerging Markets Tests IMF and World Bank Safety Net

Tuesday, 29 October 2024 06:57 PM

A liquidity crunch is brewing across the developing world, raising pressure on US-backed international financial institutions to help poor nations meet mounting debt repayments and drive much-needed i

Biden Finalizes Curbs on US Investing in China Chip, AI Tech

Tuesday, 29 October 2024 05:52 PM

The Biden administration finalized restrictions on investments by US individuals and companies into advanced technology in China, including semiconductors, quantum computing and artificial intelligenc

La Vita Developmet starts constructions in La Vita 2 North Coast project reaching the second floor

Tuesday, 29 October 2024 04:53 PM

La Vita Development Company announced a strong start of the construction works in its leading project "La Vita 2" in the North Coast, among an ambitious plan through which the company aims to enhance

HSBC to Buy Back $3 Billion Shares as Profit Beats Estimates

Tuesday, 29 October 2024 04:45 PM

HSBC Holdings Plc announced a fresh multibillion-dollar stock buyback as it reported better-than-estimated earnings, days after unveiling a major overhaul of its businesses.

SODIC reports highest ever sales in a single quarter recording EGP 31 Bn in gross contracted sales in Q3 2024.

Tuesday, 29 October 2024 03:19 PM

Sixth of October Development & Investment Company “SODIC” has released its consolidated financial results for the nine months ended 30th of September 2024.

VW Seeks Unprecedented Plant Closings as Auto Crisis Deepens

Monday, 28 October 2024 07:42 PM

Volkswagen AG plans to close at least three factories, eliminate thousands of jobs and slash wages for tens of thousands of German workers as Europe’s biggest automaker tries to halt its tailspin.

Boeing Launches $19 Billion Share Sale to Thwart Downgrade

Monday, 28 October 2024 06:14 PM

Boeing Co. launched a nearly $19 billion share sale, one of the largest ever by a public company, to address the troubled planemaker’s liquidity needs and stave off a potential credit rating downgrade