Kenya in talks for a $1.5bn commercial loan with UAE

The East African nation is seeking to diversify its sources of financing

Flags of all 6 GCC member states, Doha, Qatar.

EU holds first summit with Gulf states

An EU partnership with Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates would cover trade and investment

Interview: Billionaire Prateek Suri on his next African adventure

Through MDR Investments, Prateek Suri is driving a fresh wave of large-scale funding into Africa’s infrastructure and mining sectors

Oil prices jump as Iran-Israel missile strikes fuel market jitters

Brent futures and US West Texas Intermediate (WTI) crude spiked more than 1 per cent amid Iran’s attack on Israel

BEIRUT, LEBANON - AUGUST 06: Supporters listen to Hezbollah leader Sayyed Hassan Nasrallah via a video link during a ceremony to mark the first week since the killing of Hezbollah's top commander Fuad Shukr on August 06, 2024 in Beirut, Lebanon. (Photo by Chris McGrath/Getty Images)

Israeli army says it has killed Hezbollah chief Hassan Nasrallah

Hezbollah leader Sayyed Hassan Nasrallah has died in an airstrike, says Israel’s military

Orascom - El Gouna

Orascom’s success story: A model for Egypt’s economic resurgence

From Egypt’s serene beaches to Switzerland’s snow-capped peaks, Orascom’s success lies in its ability to create spaces where people can truly live well

CAIRO, EGYPT - AUGUST 20: (----EDITORIAL USE ONLY - MANDATORY CREDIT 'EGYPTIAN PRESIDENCY / HANDOUT' - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS----) Egyptian President Abdel Fattah el-Sisi meets US Secretary of State Antony Blinken in Cairo, Egypt on August 20, 2024. (Photo by Egyptian Presidency/Anadolu via Getty Images)

US to release $1.3bn in military aid to Egypt

The ongoing conflict in Gaza has increased Washington’s dependence on Egypt for diplomatic mediation

OZEMPIC

Fake Ozempic: How batch numbers help criminal groups spread counterfeit drugs

Fake Ozempic with a batch number destined for Egypt were found in at least 10 countries

Ad Ports signs crane contracts with ZPMC image AD Ports Group

AD Ports awards crane contracts worth Dhs420m for Africa operations

The equipment will be deployed at its terminal projects in Pointe Noire, Republic of the Congo, and Luanda, Angola

PHILADELPHIA, PENNSYLVANIA - SEPTEMBER 10: Republican presidential nominee, former U.S. President Donald Trump and Democratic presidential nominee, U.S. Vice President Kamala Harris debate for the first time during the presidential election campaign at The National Constitution Center on September 10, 2024 in Philadelphia, Pennsylvania. After earning the Democratic Party nomination following President Joe Biden's decision to leave the race, Harris faced off with Trump in what may be the only debate of the 2024 race for the White House. (Photo by Win McNamee/Getty Images)

Kamala Harris and Donald Trump spar in combative debate

In a boost to the Democratic Party’s campaign, Taylor Swift backed Kamala Harris for the US President

Are you a 'citizenship by descent' candidate?

Are you a ‘citizenship by descent’ candidate?

Citizenship by descent offers a pathway to global mobility, enabling individuals to reclaim their heritage while gaining access to benefits like living, working, and studying in foreign countries

Global trade continues recovery in q3 2024 image for illustrative purposes Photo-courtesy-WAM

Global goods trade continues recovery in Q3 2024: WTO

Quarter-on-quarter trade growth averaged 0.7 per cent over the last two quarters, which translates to an annualised rate of 2.7 per cent

private equity trends half year report bain & co GettyImages-910730068

Private equity finds stability but momentum remains elusive, shows report

The report highlights that the sharp decrease in deal-making and exits over the past two years has largely plateaued in the early part of 2024

European airports reinstate 100ml liquid limit in cabin luggage

European airports reinstate 100ml liquid limit in cabin luggage

Passengers travelling through European airports are advised to prepare for the renewed restrictions and plan accordingly for any liquids, gels, or aerosols in their hand luggage

City Center Al Zahia

Majid Al Futtaim reports H1 net profit of Dhs1.6bn

Majid Al Futtaim Properties delivered a record performance, driven by the success of UAE-based shopping malls and strong consumer confidence

Telegram-Pavel-Durov opens up on IVF

Dubai-based Telegram founder Pavel Durov detained in Paris

Pavel Durov was apprehended while travelling aboard his private jet

A Royal Jordanian airplane takes off from Adolfo Suarez - Beirut

Royal Jordanian airline suspends flights to Beirut, state news agency says

The Israeli military said its jets hit targets in Lebanon shortly before the military assessed Hezbollah was preparing to launch attacks

Jerome Powell, chairman of the US Fed arrives to a dinner at the Jackson Lake Lodge during the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium in Moran, Wyoming, US, on Thursday, Aug. 22, 2024. With the central bank on the cusp of lowering interest rates from a more than two-decade high, the Federal Reserve chair's comments on Friday will be closely parsed for any hints on how the Fed chief is viewing the economy in the wake of a weaker-than-expected jobs report and further easing in inflation. Photographer: Natalie Behring/Bloomberg Jerome Powell, chairman of the US Federal Reserve, arrives to a dinner at the Jackson Lake Lodge during the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium in Moran, Wyoming, US, on Thursday, Aug. 22, 2024. With the central bank on the cusp of lowering interest rates from a more than two-decade high, the Federal Reserve chair's comments on Friday will be closely parsed for any hints on how the Fed chief is viewing the economy in the wake of a weaker-than-expected jobs report and further easing in inflation. Photographer: Natalie Behring/Bloomberg

US Fed’s Jerome Powell says ‘time has come’ to cut rates

Fed chief says timing, pace of rate cuts depends on data

top indians

Most influential Indians in the region 2024

We profile some of the most iconic Indian business titans based in the Gulf, highlighting their journeys and achievements

A rescue boat of the Vigili del Fuoco, the Italian Corps. of Firefighters operates off Porticello near Palermo, on August 20, 2024 a day after the British-flagged luxury yacht Bayesian sank. Specialist divers launched a fresh search for six people, including UK tech tycoon Mike Lynch and the chairman of Morgan Stanley International, missing since their yacht capsized off the Italian island of Sicily. The Bayesian, which had 22 people aboard including 10 crew, was anchored some 700 metres from port before dawn when it was struck by a waterspout, a sort of mini tornado. Fifteen people aboard, including a mother with a one-year-old baby, were plucked to safety; one man has been found dead; and six people remain missing. (Photo by Alberto PIZZOLI / AFP) (Photo by ALBERTO PIZZOLI/AFP via Getty Images)

Five bodies recovered from Mike Lynch’s sunken superyacht in Sicily

The Bayesian, a 56-metre yacht flying the British flag, was carrying 10 crew members and 12 passengers when it sank off the coast of Sicily

Gold - Renewed strength in the greenback has now seen bullion tumble more than 20 per cent since a March peak.

Gold tracks down after hitting record high

Gold has gained nearly 22 per cent so far this year with geopolitical tensions and uncertainty created by the upcoming US elections

Egypt’s foreign debt drops $7.4bn in Q1 2024

Egypt’s foreign debt drops $7.4bn in first quarter

The country’s finances were boosted in February when it sold the development rights to Ras El-Hekma to the UAE for $35bn

Sicily yacht sinking

Morgan Stanley boss Jonathan Bloomer, tech tycoon Mike Lynch missing in Sicily yacht sinking

Italian authorities rescued 15 of those on board the British yacht, but a day later six passengers remain missing, and one body has been recovered

BII to invest $35m in DRC port

UK’s BII invests $35m in Congo port project, boosts DP World tie-up

With a draft of 17.5 metres, the port will be capable of receiving large container vessels, ultimately reducing trade costs in the DRC by 12 per cent

Kuwait - jet fuel

List of airlines suspending flights to the Middle East continues to grow

A number of airlines have adjusted or suspended flights to cities in the Middle East due to ongoing regional tensions

TotalEnergies, Iraq deal

Iraq shifts to profit sharing with new oil and gas deals

Oil majors have complained that the terms of Iraq’s traditional oil service contracts meant they could not benefit from rising oil prices and lost out when production costs rose

Egypt

Egypt’s sovereign wealth fund CEO resigns: Reports

Soliman’s resignation had been anticipated, with one government source saying Egypt’s political leadership wanted to introduce fresh faces into key positions, as part of a broader reshuffle

AD Ports' Noatum makes entry into Egypt; acquires Safina Shipping Services

AD Ports’ Noatum enters Egypt market; acquires Safina Shipping Services

Safina, a key player in the Egyptian maritime industry, offers comprehensive agency services and maritime logistics to shippers, serving the metals, minerals, and fertilisers sectors

World Health Organization (WHO) - MPOX

WHO declares mpox outbreak a global health emergency

Experts hoped the announcement would galvanise action worldwide, many obstacles remain, including limited mpox vaccine supply, funding and competing disease outbreaks

MENA IPOs in Q2 2024 GettyImages-1317703626

MENA region sees 14 IPOs valued at $2.64bn in Q2 2024

Eight out of the 14 MENA IPOs in Q2 2024 delivered positive returns by the end of June, with Miahona Company achieving the highest gain of 90.4 per cent