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Gulf ports trump US in global efficiency rankings

Heavy investment has seen the Middle East dominate the top of the rankings of a list of the most efficient container ports in the world, with some Saudi ports up to four times more efficient than their North American rivals. The latest edition of the Container Port Performance Index (CPPI), which was developed by the […]

Tie, Accessories, Accessory
  • Analysis

Rising inflation and falling tourism deals Egypt a ‘double whammy’

With inflation surging and the government forced to fix the price of bread to head off civil unrest, Egypt has felt the heat from the Ukraine crisis more acutely than most countries in the Middle East and North Africa (MENA) region. Higher commodity prices and the loss of tourism revenues from both Russian and Ukrainian […]

Wio appoints execs to drive digital banking push

Wio Bank, a new digital banking platform established in the UAE, today announced senior leadership appointments following its licence approval by the UAE Central Bank. Salem Al Nuaimi has been named chairman of the board and Jayesh Patel has been appointed as CEO. Wio is jointly owned by Abu Dhabi Holding Company (ADQ), Alpha Dhabi, […]

ADQ buys stakes worth $1.85bn in Egyptian firms

Abu Dhabi’s state holding company ADQ bought shares worth $1.85 billion in five publicly traded Egyptian companies in April, helping Egypt after the Ukraine crisis prompted foreign investors to flee.  Egypt has been on the hunt for foreign exchange since Russia’s invasion of Ukraine prompted investors to pull billions of dollars out of its treasury […]