The area is set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port
Middle East
Real Estate
UAE, Saudi, Egypt to power 2025 real estate boom in MENA: Savills
Savills has projected global real estate investment turnover to grow by 27% to $952 billion in 2025 and surpass $1 trillion by 2026
Gaza ceasefire
‘Bittersweet’ relief for Palestinian diaspora in UAE as expats voice cautious optimism over Israel-Hamas ceasefire deal
Under the first phase of the agreement, 33 Israeli hostages – including all women, children, and men over 50 – will be released in exchange for Palestinian prisoners
Gaza ceasefire
World leaders welcome Israel-Hamas ceasefire deal, call for lasting peace
From Washington to Riyadh, leaders welcome watershed Israel-Hamas ceasefire agreement, as mediators race to halt hostilities before implementing the Gaza deal on Sunday
Beirut
UAE reopens embassy in Lebanon following election of new president
The decision follows the election of Lebanon’s new president Joseph Aoun last week, ending a prolonged 15-month leadership vacuum in the country
Lebanon
Lebanon elects army chief Joseph Aoun as new president
The presidency had remained vacant since Michel Aoun’s term ended in Oct. 2022
Financial Action Task Force
MENA financial crime watchdog launches landmark 5-point anti-money laundering strategy
The announcement comes as regional financial centres face mounting pressure to demonstrate their commitment to combating illicit financial flows
Central Bank of Egypt
Egypt to receive $1.2bn IMF aid in January, says finance minister
Last month, the IMF said it reached a staff-level agreement with Egypt on the fourth review of the 46-month Extended Fund Facility arrangement
Lebanon
Investors eye Lebanon real estate bargains amid price drop as fragile Israel-Hezbollah ceasefire holds
The current ceasefire has emboldened some investors to begin exploring opportunities in areas where prices have dropped significantly
debt management
Egyptian government plans to borrow $39bn from local market in Q1 2025
Forty-eight treasury bill auctions worth EGP 1.780 trillion and 40 bond auctions worth EGP 203 billion are scheduled from January 1 to March 31