Dubai investment firm FIM Partners considers raising SPAC

EFG Hermes agreed to buy a stake in FIM Partners in 2017

EFG Amazon.eg

Egypt’s sovereign fund, EFG Hermes partner to acquire control of Arab Investment Bank

The transaction will be structured as a capital increase that will raise the paid-in capital of the bank to EGP5bn

Oil steady near $65 as investors weigh near-term demand outlook

Oil has managed to break out from a tight range near $60 a barrel and resume its upward momentum

Egypt’s ‘lost city’ may be new boon for tourism

The discovery of a 3,000-year-old city may just be the impetus required for Egypt’s tourism

In pictures: Eid Al Fitr celebrations across the world

Eid Al Fitr, which marks the end of the holy month of Ramadan, was celebrated across the world in a subdued manner due to the Covid-19 pandemic

Israel-Gaza conflict intensifies as global diplomatic efforts continue

The US dispatched an envoy to the region and Egypt and Qatar sought to help broker a truce

UAE to host emergency meeting with Arab leaders over Jerusalem

The latest bout of fighting appeared to be the most serious escalation since a 2014 war in Gaza

Google startup accelerator

Google opens registrations to MENA tech startups for accelerator programme

The three-month long programme will commence in mid-July 2021 and is for ‘Seed to Series’ startups in the region

Covid-19: UAE extends ban on travellers from India

Cargo flights will continue to operate between the two countries

Seychelles pays $1 to acquire Etihad’s stake in its flag carrier

Etihad accepted a 79 per cent haircut on $72.3m of debt owed by Air Seychelles Ltd

How the loss of biodiversity requires relevance and attention

Biodiversity and climate change are deeply connected by the simple fact that our economy relies on natural capital

Oil swings near $63 as OPEC+ bets market can absorb more supply

The global oil market recovery is being driven by China and the US, with positive signs emerging from parts of Europe

Publicis Groupe appoints Bassel Kakish as CEO for Middle East and Turkey

Kakish will continue to be based in Dubai and report to the executive chairman

Mubadala eyes $1bn gas deal as UAE-Israel ties deepen

The Abu Dhabi fund would make the acquisition through its energy arm

Egypt passenger train crash kills 11, injures 98

The incident was the third railway incident in Egypt in a month

UAE’s ADNOC keen to explore hydrogen market with India’s public, private sectors

Dr. Al Jaber said the UAE is well placed to capitalise on the potential of Hydrogen as a zero-carbon fuel

UAE partners with Japan for mission to send ‘Rashid’ rover to the moon

The Emirates Lunar Mission is one of the initiatives under the Mars 2117 Programme, which aims to build a human colony on Mars

Saudi intercepts Houthi attack on Jazan University, debris leads to fire on campus

Coalition forces in the kingdom destroyed five ballistic missiles and four armed drones launched from Yemen in the latest attacks

Johnson & Johnson Vaccine Administered At Colorado Fire Department

US recommends pausing J&J vaccinations on clotting concern

As of April 12, more than 6.8 million doses of the vaccine have been administered

Wizz Air Abu Dhabi initiates flights to three new destinations

They include two cities in Egypt and one in Europe

Oil steady near $59 as Fed’s Powell points to economic growth

Futures in New York traded near $59 a barrel after dropping 3.5 per cent last week

Saudi forces destroy armed drones, missiles launched from Yemen

The Houthis have stepped up missile and drone strikes against Saudi Arabia in recent months

Head of UAE’s Lulu Group safe after chopper crash lands in India

No major injuries were reported

Mubadala discusses GlobalFoundries IPO at $20bn value

Technology companies have already raised $20bn in US IPOs this year

In one year a billion tons of food got wasted — mostly at home

Food waste and loss are responsible for as much as 10 per cent of global emissions

Benjamin Netanyahu

Netanyahu chosen to try to form Israel’s next government

Netanyahu will have up to six weeks to try to cobble together a coalition

One-time pioneer LG Electronics to close smartphone business

Phones constituted 8.2 per cent of LG sales last year

Philippines extends Manila’s lockdown on surging infections

The government will decide in a week if the capital and nearby areas can shift to a looser lockdown so more businesses can reopen

Jordan arrests senior officials for ‘security reasons’

A royal family member and a former minister are among those who have been arrested

Oil climbs above $60 as OPEC+ faces critical decision on supply

Data from the US and Asia do bolster the case for OPEC+ to loosen the taps