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North Africa

Demand for Gaza Cola has been 'crazy', the maker says, with its first batch of 300,000 cans sold out in less than three weeks

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 […]

Egypt's prime minister Mostafa Madbouly first outlined a plan to list more state-owned companies in 2022

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 […]

Tunisian prime minister Kamel Madouri speaks in parliament during a session to discuss the 2025 budget

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 […]

A mother and daughter leave their destroyed house in Amizmiz, Morocco. The EU is to increase its total earthquake aid to €1bn

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 […]

Adnoc CEO Sultan Al Jaber speaks at the Adipec conference in Abu Dhabi, during which he announced the launch of the EnergyAI project

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 […]

Algeria 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 […]

A stand in Beirut displays Arabic newspapers featuring the inauguration of President Donald Trump in 2017. The Arab world has generally welcomed Trump's return to the White House

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 […]

Passengers in Terminal 3 at Dubai Airport. The UAE and Saudi Arabia reported respective air traffic growth of 39 percent and 30 percent

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 […]

IMF managing director Kristalina Georgieva and Egyptian prime minister Mostafa Madbouly at a press conference

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 […]

A KFC restaurant in Dubai. Brand owner Americana has posted a 54% drop in profit in the third quarter

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 […]

Mena economic data

Mena economic data

The latest indicators for the largest Middle East and North Africa economies outside the GCC, including Egypt, Iran and Turkey

Saudi finance minister Mohammed Al-Jadaan said the kingdom will continue to increase economic bonds with Africa

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 […]

Central Riyadh. Of total Mena investment banking fees, 45 percent were generated in Saudi Arabia

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 […]

RECORD DATE NOT STATED Members of Royal Moroccan Armed Forces stand at attention during the visit of U.S. Army Maj. Gen. Michael Turley, adjutant general, Utah National Guard, and Moroccan officials, Sept. 21, 2022, in Kenitra, Morocco, during joint exercise Maroc Mantlet. The Royal Moroccan Armed Forces soldiers were part of the ceremony in conjunction with the distinguished visitor demonstrations. Maroc Mantlet benefits both the United States and Morocco in building a stronger partnership. Utah and Moroccan service members training and learning together improve security, professional relationships, and also tactics and techniques. Copyright: xpiemagsx dvidspieseptoct2022-22265 ACHTUNG AUFNAHMEDATUM GESCHƒTZTNo Use Switzerland. No Use Germany. No Use Japan. No Use Austria military

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 […]

Body Part, Finger, Hand Karim Badawi, Egypt's minister for petroleum, has been meeting with international companies to restore trust

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 […]

The UAE hosts the largest concentration of data centres in the Middle East and North Africa but is grappling with a capacity crunch

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 […]