Cairo – Mubasher: The International Monetary Fund (IMF) has cut its expectations for Egypt’s real GDP growth for 2024 and 2025 by 0.3% for each year. The IMF reduced its expectations for the country’s growth in 2024 and 2025 to 2.70% and 4.10%, …
Mubasher: Global real estate firm CBRE Middle East has appointed Michael Young as its new Managing Director for the MENA region as of 1 July 2024. With over two decades of experience across Asia Pacific, the UK, and MENA, Young brings proven …
UAE – Mubasher: I Squared Capital, a leading independent global infrastructure investment manager, has raised more than $600 million from Mubadala Investment Company, Qatar Investment Authority (QIA), and other investors for Transportation …
Cairo – Mubasher: Liquid C2, a subsidiary of African technology group Liquid Intelligent Technologies, has announced the expansion of its Cloudmania business into Egypt's channel partner ecosystem. The launch in Egypt demonstrates Cloudmania's …
Mubasher: The GCC raised $3.60 billion through 23 initial public offerings (IPOs) in the first half (H1) of 2024, a 32% year-on-year (YoY) drop from $5.30 billion raised through 21 offerings in the comparative period of 2023, according to a report …
Riyadh – Mubasher: Oil and gas drilling services provider ADES Holding Company has amended its existing syndicated facility, obtaining an additional $3 billion multi-tranche dual-currency financing on 14 July 2024. The majority of existing lenders …
Mubasher: Intelligent power management company Eaton Middle East has introduced the innovative Eaton Asset Manager application to assist the commercial and construction industries in ensuring the use of genuine electrical products. This …
Cairo – Mubasher: Elsewedy Cables Qatar, the sister company of Egypt’s Elsewedy Electric Company has signed a contract valued at QAR 1 billion with Qatar General Electricity & Water Corporation (Kahramaa), according to a bourse filing. The …
Mubasher: The Gulf Cooperation Council (GCC) is negotiating a free trade agreement (FTA) with the UK that could be signed by the end of 2024. The bloc’s Secretary-General Jasem Albudaiwi held a meeting with UK Trade Minister Jonathan Reynolds in …
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
UAE - Mubasher: The UAE-based NOW Money partnered with global tech firm Mastercard to boost the payments industry across the GCC region, according to a press release. Through Mastercard payment cards, NOW Money customers will have secure and …
Mubasher: Saudi Arabia and the UAE accounted for 82% of the GCC countries' total oil exports to Japan in May 2024, with their exports totalling about 53.69 million barrels. The GCC countries exported about 61.85 million barrels of crude oil to …
UAE - Mubasher: EMX, a 7X logistics provider, launched EMX International to streamline e-commerce parcel delivery across the GCC region. The new service consolidates shipments to GCC, allowing companies to utilise Dubai as a gateway and optimise …
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
Riyadh – Mubasher: Saudi Arabia held the third position in 5G Download Speed among key markets in the EMEA region, according to a report released by Opensignal. The report highlighted that the Kingdom witnessed a significant improvement in 5G …
Riyadh – Mubasher: The Saudi Arabian capital, Riyadh, has ranked among the world’s top 15 fastest-growing cities by 2033 based on economy, population, and wealth in the Savills Growth Hubs Index. Riyadh’s population is anticipated to grow by 26% …
Riyadh – Mubasher: BinDawood Holding Company has signed a non-binding memorandum of understanding (MoU) with Regional Group Company in Qatar for commercial franchise rights to open eight branches under BinDawood brand in Qatar. The deal comes in …
UAE – Mubasher: Radius Group teamed up with Knight Frank MENA to launch the Radius City Logistics project in Dubai Investments Park 2 (DIP II), according to a press release. Knight Frank MENA’s Industrial and Logistics team will facilitate the …
UAE - Mubasher: Mastercard has entered into a partnership with the UAE-based LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets. The partnership, extending across Bahrain, Kuwait, Oman, …
Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
Mubasher: CoinDCX, the largest crypto exchange in India, has acquired Dubai-based virtual assets trading platform BitOasis, for an undisclosed value, according to a press release. CoinDCX previously invested in BitOasis during August 2023 and the …
UAE - Mubasher: The revenue in the UAE’s crypto sector is expected to grow by 7.89% year-on-year (YoY) to $395.80 million by 2028, up from $292.10 million in 2024. Bitpanda, Europe’s largest crypto platform and infrastructure provider, recently …