Analysis Food & Drink Pro-Palestinian cola brands to launch in Middle East Two pro-Palestine soft drinks brands launched this year as Coca-Cola and Pepsi alternatives are planning to debut in the Middle East in the coming months. They are the latest to take advantage of a market that appears to be moving away from US brands that are perceived to support Israel in the Gaza conflict. In large […] December 8, 2024
Opinion Entrepreneurs How to fund and launch your business in Mena and beyond Funding is a marathon, not a sprint December 5, 2024
Finance Egypt to list military-linked companies says PM The Egyptian government will reveal plans next week to list military-affiliated companies on the local stock exchange, prime minister Mostafa Madbouly has said. Local media reports said three to four companies will be listed on the Egyptian stock exchange. No company names were given. The listings will attract investment and promote economic development, he said […] December 5, 2024
Opinion Tech Time to give some of that fintech funding to R&D Governments must help the private sector to fund more complex tech research December 4, 2024
Economy Tunisia seeks $2.2bn from central bank to repay debts Tunisia’s central bank will provide $2.2 billion to the government to help repay debts next year, according to news reports. The funding follows the parliamentary approval of a budget law amendment that allows the government to borrow directly from the central bank. This marks the second instance within a year of the government tapping the central […] December 3, 2024
Opinion Energy Trump team will make waves in GCC energy and capital markets New US treasury and energy secretaries will keep interest rates high November 29, 2024
Economy Morocco gets $200m loan from EU for quake recovery The European Union (EU) will provide a €190 million ($200 million) loan for reconstructing and rehabilitating earthquake-hit areas in Morocco. The funding will prioritise rebuilding homes, restoring essential public services such as healthcare and education, and reviving local economies, Morocco World News reported. The earthquake, which struck in September 2023, was the strongest in Morocco’s […] November 26, 2024
Analysis Artificial Intelligence Oil and gas companies place trust in AI Race to combat falling oil prices Tech offers huge savings Industry hits recruitment wall Lower oil prices and the race for higher returns are pushing regional and national oil and gas companies to spend billions of dollars on artificia... Register now: It’s easy and free This content is available for registered members only. Register for […] November 18, 2024
Analysis Tourism Algeria must forge its own identity to hit tourism targets If Algeria’s tourism industry is to become the vital engine of the country’s economy its tourism minister hopes, it must find a way to differentiate itself from its neighbours, experts have told AGBI. The Algerian government aims to welcome more than 12 million foreign visitors by the end of the decade, as part of its national tourism […] November 15, 2024
Trade Arab world welcomes Trump back to the White House The Arab world has hailed Donald Trump’s successful bid to return to the White House, with his long-standing personal, business and political ties to the region bringing hopes of closer bilateral relationships with the United States for the next four years. The Emir of Qatar, Tamim bin Hamad Al Thani, was the first GCC leader […] November 6, 2024
Analysis Aviation Gulf air traffic rebounds but fares still high Air traffic in the Middle East and North Africa region has rebounded beyond pre-pandemic levels, with Saudi Arabia and the UAE marking the highest gains in volume. Traffic up to the second quarter of 2024 has also surpassed levels seen before 2020, according to a study by Airports Council International (ACI). Bahrain (+24 percent), Qatar […] November 5, 2024
Economy Egypt awaits $1.3bn loan from IMF as review begins The International Monetary Fund (IMF) will conduct its fourth review of Egypt’s loan programme on Tuesday, after which $1.3 billion is expected to be released, Egyptian prime minister Mostafa Madbouly has said. The IMF team will collaborate with officials from the Central Bank of Egypt (CBE) and various ministries, local media reported, citing Madbouly’s speech […] November 4, 2024
Food & Drink Americana opens more stores despite profit slump Quarterly profits at Americana Restaurants have shrunk again, but the Middle East franchise owner for KFC, Pizza Hut and Hardee’s continues to open new stores as its promotional drive spurs a recovery in daily sales. The fast-food brand operator reported a 54 percent drop in profit in the third quarter to $37.4 million, as the […] October 31, 2024
Economy Mena economic data The latest indicators for the largest Middle East and North Africa economies outside the GCC, including Egypt, Iran and Turkey October 29, 2024
Development Saudi Arabia to invest $41bn in Africa over next decade Saudi Arabia is providing at least $41 billion in funding for low-income sub-Saharan countries in Africa, the government announced on Monday. Finance minister Mohammed bin Abdullah Al-Jadaan revealed a $1 billion development initiative for Africa, $5 billion for startups from the Saudi Development Fund over the next ten years, $10 billion in financing from the […] October 28, 2024
Opinion Trade Europe needs to revisit Gulf relations or lose out to Asia The recent EU-GCC summit could not have come at a more critical moment October 28, 2024
Banking & Finance Investment banks enjoy fee windfall from debt issuance Investment banking fees on bond and sukuk issuance in the Middle East and North Africa (Mena) have surged this year as governments, corporations and commercial banks raise increasing amounts of debt to meet their funding needs. Mena debt capital market underwriting fees in the first nine months of 2024 rose 74 percent year on year […] October 23, 2024
Industry Morocco plans to increase its military spending in budget Morocco is planning to increase its military spending by 6 percent next year, as it looks to improve national security and modernise its local capabilities. The defence budget in Morocco’s 2025 Finance Law will be MAD133 billion ($13.4 billion), an increase on the MAD124 billion in the current year’s budget. The Minister of Economy and […] October 23, 2024
Energy Egypt slashes renewables target to focus on natural gas Egypt has cut its renewable energy goal for 2040 from 58 percent down to 40 percent and will focus on natural gas in order to meet increasing energy demand, according to Karim Badawi, the minister for petroleum. Before hosting the Cop27 climate conference in 2022, the North African state announced a target of achieving a […] October 22, 2024
Analysis Tech Data centre projects struggle for funds despite soaring demand Data centre projects in the UAE are struggling to secure financing in their early stages despite an urgent need for more facilities to meet soaring demand, observers say. There are fears this financing gap threatens to slow development and exacerbate the region’s growing shortage of critical data infrastructure needed to fuel digital ambitions. Johan Nilerud […] October 22, 2024
Opinion Economy Reconstructing battered Libya is a work in progress Physical rebuilding is ongoing but restoring the country's reputation will take longer October 16, 2024
Opinion Agriculture Food is the hidden frontier in the Middle East conflict The impact of conflict on food production and trade will be felt around the world October 11, 2024