Local Economy

Mubasher: The business travel spending across the Middle East and Africa (MEA) region is projected to return to pre-pandemic levels by 2024, according to the Business Travel Index Outlook annual forecast and outlook 2022 from the Global Business …

Mubasher: The Central Bank of Kuwait (CBK) decided to lift the discount rate by 0.50% to 4% from 3.50% starting from Thursday, 26 January 2023. The decision is part of recent developments in local and international economic conditions, in addition …

Mubasher: Venture debt investments in the MENA region have exceeded $260 million through 18 financing deals during 2022, according to a report by Shuaa Capital and MAGNiTT. The report indicated that the high value came despite a backdrop of …

UAE – Mubasher: The United Nations Conference on Trade and Development (UNCTAD) will hold its 8th World Investment Forum in Abu Dhabi during 16-20 October 2023, according to a press release. Held under the theme ‘Investing in Sustainable …

Mubasher: The ICT Conference (MEET ICT) and the Bahrain International Technology Exhibition (BITEX) is back in its 11th edition from 7-9 May 2023 at Gulf Hotel’s Gulf Convention Centre. This announcement was made in collaboration with the Bahrain …

Abu Dhabi – Mubasher: The World Future Energy Summit, the 14th leading business event for future energy and sustainability, begins a three-day run at the Abu Dhabi National Exhibition Centre (ADNEC) on 16 January 2023. The summit will host global …

Cairo – Mubasher: Egypt on Sunday will extend an official invitation to American business tycoon Elon Musk to visit Egypt at the time of his choice. The move, which would be a boon for the country’s tourism sector, comes after a viral tweet the …

Cairo – Mubasher: The Nile Property Expo intends to enter new markets for the first time in 2023 such as London and New Jersey in the US.  The announcement was made by Basem Kalila, Chairman of the Board of Directors of Expo Republic, the company …

Cairo – Mubasher: The fourth edition of the Startups Without Borders (SWB) Summit will kick off this February at Cairo Business Park in New Cairo, state-run news agency MENA reported. Under the theme of Go Borderless, this year’s summit is set to …

Cairo – Mubasher: The Suez Canal Authority (SCA) said that a cargo ship that went aground in the Egyptian waterway has been refloated and canal traffic was restored. Earlier today, M/V GLORY grounded while joining Southbound convoy near the city …

Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) launched the region’s first tokenised, contactless payment methods through the options of clasp and ring ‘ADIB PAY’, in partnership with token enablement service provider Tappy Technologies and …

By: Abdallah Beder Cairo – Mubasher: Investments of award-winning payment solutions provider (PSP) PaySky in Egypt have exceeded EGP 100 million, the company’s Founder and CEO, Waleed Sadek, told Mubasher. With a vision of democratising …

Cairo - Mubasher: The Secretary General of the Union of Arab Banks (UAB) Wissam Fattouh said the consolidated assets of the Arab banking sector are expected to reach $4.40 trillion by the end of 2022. This represents a year-on-year (YoY) increase …

Dubai – Mubasher: Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has opened three new international representative offices in Egypt, Israel, and Türkiye, based in Cairo, Tel Aviv, and Istanbul, respectively. …

Cairo – Mubasher: Trade exchange between Egypt and Arab countries hit $21.90 billion during the first nine months (9M) of 2022, a year-on-year (YoY) rise of $3.50 billion, Akhbar El-Yom cited the Central Agency for Public Mobilization and …

Cairo – Mubasher: Trade exchange between Egypt and Arab countries hit $21.90 billion during the first nine months (9M) of 2022, a year-on-year (YoY) rise of $3.50 billion, Akhbar El-Yom cited the Central Agency for Public Mobilization and …

Mubasher: The economic growth rate in the GCC region is expected to more than double to 6.5% in 2022, according to the latest report by the International Monetary Fund (IMF). It also advised the Gulf countries to maintain their reform momentum …

By: Ahmed Eldemerdash Cairo – Mubasher: The Egyptian government has agreed to launch an Egyptian-Qatari Business Forum during the first quarter (Q1) of 2023, sources familiar with the matter told Mubasher. Egypt’s approval came in light of a …

Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …

Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …

Riyadh – Mubasher: Saudi Arabia cut the January 2023 official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over a drop in demand and a potential increase in Russian competition. The Saudi …

Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …