The Sofitel Legend Pyramids Giza project will be financed through a strategic partnership between the private sectors of the UAE and Egypt
Middle East
economic diversification
Middle East trading volumes surge as regional fintech and market access expands
For companies offering trading in multiple types of assets, 2024 brought more opportunities as new companies listed on regional stock exchanges
climate change
IMF approves $2.5bn in funding for Egypt, backs climate finance initiative
Fund cites “mixed progress” on reforms as Egypt faces Red Sea disruptions costing $6bn in Suez Canal revenue while struggling with high debt and fiscal challenges
AD Ports Group
AD Ports Group to get new-gen Panamax-class cranes for its new multipurpose cargo terminal in Egypt
AD Ports Group said it is investing AED 193 million in three ship-to-shore (STS) cranes and six hybrid rubber-tyred gantry (RTG) cranes for the terminal
ACWA Power
ACWA Power signs $2.3bn deal for Egypt’s largest wind farm
The PPA with the Egyptian Electricity Transmission Company includes a 2.0 GW Wind Project, exceeding ACWA Power’s current 1.1 GW Suez Wind Farm
acquisition
Agthia increases its stake in Egyptian healthy snacks company to 80%
Abu Auf has opened more than 100 stores and increased EBITDA by over 70% in AED terms over the past two years
AD Ports Group
AD Ports Group secures landmark deal to operate AI-driven Al Madouneh Customs Centre in Jordan
The facility, equipped with automated inspection ramps, smart warehouses, and predictive analytics, will enable businesses to process cargo faster, ensure robust security, and provide a seamless digital trade experience
Automobiles
‘We are the main act’: Bentley CEO on upcoming electric launch, Dubai car taste, China risk
Frank-Steffen Walliser suggested a lack of customer demand was the reason why Bentley has yet to launch an electric car
business leaders
Syrian business leaders call for innovation, collaboration, growth on sidelines of World Governments Summit
The meeting was headlined by Asaad Hassan Al-Shaibani, the Syrian Minister of Foreign Affairs and Expatriates
Branded residences
Swiss-Belhotel International expands in Egypt with Swiss-Belresidences Manaj in New Cairo
The project features 200 premium apartments in the highly sought-after South Investors
IPO
What companies will IPO next? Up to 25 tech firms prepare for 2025 listing, report finds
A flurry of fintech, retail, and super-app firms are likely to hit the IPO market this year
Dana Gas
Workers safe after another drone attack on Dana Gas’ Khor Mor facility
Production continues as normal; Second such attack in a year after four workers were killed and eight injured in April 2024
AD Ports Group
Dubai’s MAG Group to lead first phase of Jordan’s Marsa Zayed project
The project envisages turning a 320-hectare section of Red Sea beachfront into a tourism and business hub
Abraham Accords
Analysis: Early days of Trump 2.0 signal major Middle East policy shift to transactional diplomacy
Experts weigh prospects for Trump’s deal-making approach as allies grapple with controversial Gaza plans and Iran stance
airport service provider
dnata, Royal Jordanian strengthen long-standing catering partnership
The extension will see dnata continue to oversee the operations of Jordan Flight Catering Company, Jordan’s leading inflight caterer
AI adoption
Middle East heavyweights eye tech firms for gains as DeepSeek model boosts AI investment prospects
Salesforce, ServiceNow, Adobe, AMD and Intel are among the companies the region’s nimble-footed investors are now betting on
Abu Dhabi
AD Ports Group signs MoU with Egypt to develop major logistics hub in Alexandria Port
The area is set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port