Economy Egypt cuts interest rates as economy grows Egypt’s central bank said on Thursday that it was cutting overnight interest rates, as it expects economic recovery and lower inflation. The monetary policy committee (MPC) lowered the overnight deposit and lending rates by 100 basis points to 24 percent and 25 percent, respectively, its second rate cut this year, the bank said in a […] May 23, 2025
Economy Owner of Emirates Airline reports climb in profit The Investment Corporation of Dubai (ICD) said profit and the value of its assets rose last year, buoyed by performance in its aviation, real estate and banking portfolio. Net income climbed 6 percent to AED53.2 billion ($14.5 billion) and the value of its assets more than 10 percent to AED774 billion, the sovereign wealth fund […] May 21, 2025
Economy Qatar offers $1bn of incentives to boost business investment Qatar is offering $1 billion of incentives to encourage local and international business investment in the gas-rich Gulf state. Under the programme, Qatar will cover up to 40 percent of local expenses for five years, according to a statement on Wednesday. Business setup costs, construction, office leases, equipment and employee-related expenses can be claimed, Invest […] May 21, 2025
Economy Kuwait to generate $1.6bn from government fees increase Kuwait’s strategy to diversify its non-oil revenue by hiking government services fees is reportedly forecast to generate nearly KD500 million ($1.6 billion) a year for the Gulf state. Government offices have a tendency to “re-price” services they offer to the public, following an Emiri decree in early 2025 allowing them to revise such fees, local […] May 21, 2025
Economy EU clears €4bn loan for Egypt’s economic growth The European Union (EU) has got clearance to disburse €4 billion ($4.2 billion) in financial aid to Egypt to support its economic growth. “The representatives from parliament and the Polish presidency of the council have secured a provisional agreement on providing Egypt with macro-financial assistance,” the EU said in a statement. Egypt will have 35 […] May 21, 2025
Economy Kuwait to borrow up to $20bn over next year Kuwait is on the verge of returning to the debt market after an eight-year absence with plans to borrow up to $20 billion during the 2025-2026 fiscal year, according to local media. The loans will be used mainly to fund infrastructure projects worth KD2.3 billion ($7.6 billion) included in the current fiscal year, which started […] May 20, 2025
