Construction Modon to build industrial zone near Egypt’s Ras El Hekma A joint venture between Abu Dhabi-listed Modon Holding and Egypt’s Elsewedy Industrial Development is planning to build a new industrial zone near the $35-billion Ras El Hekma megaproject. The two companies have signed a letter of intent for the project, state-run news agency Wam reported. The 10 million sq m new industrial zone, located south […] March 28, 2025
Economy Egypt’s deficit stretched by high imports and regional tension Egypt’s current account deficit more than doubled in the first quarter of the current fiscal year and the gap is expected to widen further, a Kuwaiti bank says. Key factors for the massive deficit include a surge in imports and lower Suez Canal revenues due to regional tensions, National Bank of Kuwait (NBK) said in […] March 26, 2025
Media & Advertising Warner Bros Discovery buys 30% stake in OSN Streaming Warner Bros Discovery (WBD) has bought a stake in a subsidiary of Dubai-based satellite TV company Orbit Showtime Network Group, in an attempt to tap into the rapidly expanding Middle Eastern streaming market. The US-based media and entertainment conglomerate will acquire a 30 percent stake in OSN Streaming for KD17.5 million ($57 million), Kuwait Projects […] March 24, 2025
Infrastructure Morocco’s $1.3bn highway overhaul for 2030 World Cup Morocco plans to invest MAD12.5 billion ($1.3 billion) to develop its highway infrastructure for the 2030 Fifa World Cup. The investments, spanning from 2025 to 2032, will focus on three major projects: the Continental Rabat-Casablanca Highway, Tit Mellil-Berrechid Highway, and Ain Harrouda and Sidi Maarouf junctions, Morocco News World reported citing a statement from the […] March 24, 2025
Agriculture Relief for Moroccan agriculture after heavy rainfall Morocco has reported so much rainfall this year that it is filling dams across the country to levels not seen in at least three years. That augurs well for the agricultural sector which accounts for about one-sixth of the economy and is a component of exports and therefore foreign exchange. The economy declined last year […] March 20, 2025
Economy Egypt’s headline inflation nearly halves in February Egypt’s annual urban consumer price inflation plunged to 12.8 percent in February from 24 percent in January, decelerating even faster than analysts had expected, official data showed on Monday. The drop was amplified by a statistical base effect, as exceptionally fast price increases of the past two years were no longer reflected in the statistics, […] March 11, 2025
Oil & Gas Swathe of new oil and gas sites opened to bids in Egypt Egypt has invited international companies to bid to develop 13 new oil and gas sites in the Mediterranean Sea, the Gulf of Suez and the western desert as the country seeks to reverse a fall in natural gas production. The bids cover concessions that include seven undeveloped discoveries and six exploration areas, according to the […] March 4, 2025
Economy Egypt’s net foreign assets jump in January Egypt’s net foreign assets (NFAs) jumped by $2.74 billion in January, boosted by the sale of $2 billion in dollar-denominated bonds, central bank data showed. NFAs climbed to the equivalent of $8.7 billion from $5.96 billion at the end of December, according to Reuters calculations based on the official central bank currency rates. The increase […] March 3, 2025
Employment $5m US golden visa may be out of reach for some Arabs People born in Egypt and Morocco may find it more difficult than those born in Saudi Arabia or the UAE to secure President Trump’s $5 million “gold card” US permanent residency because of restrictions on capital flows. The Gulf and wider Mena region punch above their weight globally when it comes to the number of […] March 3, 2025
Opinion Aviation Egypt’s aviation sector must strive to reach its potential Improved connectivity and new infrastructure will help the country regain market share February 28, 2025
Transport Morocco to get double-decker trains ahead of World Cup Hyundai Rotem, South Korea’s railway rolling-stock maker, will supply double-decker trains to Morocco’s state-backed National Railway Office (ONCF), as the country prepares to co-host the football World Cup in 2030. The contract, valued at MAD15 billion ($1.5 billion), will support the modernisation of the country’s rail network. The new trains are designed to reach speeds of […] February 27, 2025
Analysis Tourism Moroccan tourism startups build momentum ahead of World Cup Startup innovation and entrepreneurship are helping to fuel growth in Morocco’s tourism industry. The sector’s importance to the economy is increasing as the country prepares to co-host the Fifa World Cup in 2030. Morocco welcomed 17.4 million international tourists in 2024, a 20 percent increase on 2023, the latest data from the UN World Tourism […] February 13, 2025
Logistics DP World nears opening of $80m logistics hub in Egypt Global ports operator and logistics company DP World has completed nearly two-thirds of the work on the first phase of a $80 million logistics hub in Egypt’s Suez Canal Economic Zone. The 300,000 sq m complex is due for completion in June. It aims to reduce logistics costs and strengthen connections between Egypt, the Middle East […] February 12, 2025
Economy Egypt secures $1.6bn loan from Islamic Development Bank Egypt has secured $1.6 billion loan from Jeddah-based Islamic Development Bank (IsDB) Group to support its critical sectors and encourage private sector participation in economic growth. The government has signed a $1.5 billion deal with Islamic Trade Finance Corporation (ITFC), which is part of a five-year framework valued at $6 billion to enhance Egypt’s development […] February 5, 2025
Oil & Gas UK’s Sound Energy helps Morocco enter LNG market Led by the UK company Sound Energy, Morocco is due to enter the liquefied natural gas market by the end of this year, as it finalises the development of its first LNG processing facility. Sound Energy owns a 20 percent stake in the project. The Moroccan mining company Managem owns 55 percent, while the remaining […] February 5, 2025
Logistics Egypt urges return of Suez Canal traffic after Gaza ceasefire Egypt has held talks with 23 maritime companies, encouraging them to resume transits through the Suez Canal following the ceasefire agreement between Israel and Hamas. There are many positive indicators for the Red Sea region as stability returns, said Osama Rabie, chairman of the Suez Canal Authority (SCA). He said the SCA has been flexible […] February 3, 2025
Renewable Energy Morocco to invest $3bn in power projects over five years Morocco is planning to invest more than MAD27 billion ($2.7 billion) into power projects in the next five years to expand its electricity network and increase the share of renewable energy, an official has said. The development plan, starting this year, covers conventional electricity, renewable sources and hydrogen projects, said Tarik Hammane, director general of the […] January 31, 2025
Analysis Construction Mena construction industry braced for rise in disputes Construction professionals working in the Middle East and North Africa are bracing themselves for a surge in disputes, driven by delays, cost overruns and changes in scope, research has found. In a survey of Mena businesses including contractors and developers, more than 80 percent of the 95 respondents said they anticipated a rise in disputes […] January 28, 2025
Oil & Gas Libya needs $4bn to increase oil output says minister Libya needs between $3 billion and $4 billion to reach an oil production rate of 1.6 million barrels per day (bpd), the acting oil and gas minister Khalifa Abdulsadek has said. A new license bidding round is expected to be approved by the cabinet before the end of January, he told Reuters. Abdulsadek said the Libyan economy heavily relies on oil, accounting for more than 95 percent of […] January 20, 2025
Analysis Mining Lithium find exposes Algeria’s neglected mining sector The discovery of lithium in Algeria is a major economic opportunity – but underinvestment in the country’s mining industry means it could take a decade or more to bear fruit, experts say. In May 2024, Algeria discovered significant deposits of lithium and other essential climate technology minerals in the southern regions of Tamanrasset and In […] January 16, 2025
Economy Egypt’s inflation reached two-year low in December Egypt’s annual urban consumer price inflation rate fell to 24.1 percent year on year in December, as expected, from 25.5 percent in November, its lowest in two years, data from statistics agency Capmas showed on Thursday. Inflation began surging in 2022 following the Russian invasion of Ukraine, which prompted foreign investors to withdraw billions of dollars from Egyptian treasury markets. It […] January 9, 2025
Oil & Gas Libya begins oil and gas production at Chadar field Zallaf Oil and Gas Exploration, Production and Refining Company, Libya’s National Oil Corporation (NOC) subsidiary, has commenced production at the Chadar oilfield. The facility is now producing approximately 7.5 million cubic feet of associated gas and 1,500 barrels per day (bpd) of crude. The production rates were reached on the first day, NOC said in […] January 7, 2025
