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REVEALED: The 30 best places to work in the Middle East

The annual Middle East list, published by “The Best Places to Work”, has just been released and it has based its results on the assessment of over 500 companies

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How deep are Egypt’s economic troubles?

An over-valued currency, weak property rights and institutions, and an overbearing state and military have deterred investment and competition

Total passenger traffic rises 64.4% in 2022

Global airlines poised for 2.7% jump in profit in 2024, says IATA

Industry profits will reach $25.7bn in 2024, which is a slight improvement over this year’s $23.3bn

Fitch Ratings cuts Egypt’s credit score one step to B-

Fitch downgrades Egypt one notch deeper into junk territory

The country’s debt problems have come amid a bruising economic crisis that has triggered a string of currency devaluations and record inflation

Turkish central bank raises inflation forecasts

Turkish central bank raises inflation forecasts, sees 70%-75% peak

Inflation hit a 24-year peak of 85 per cent last year and surged again in recent months as the lira weakened for a third year in a row

Türkiye may exclude banks from inflation-adjusted accounting

Türkiye may exclude banks from inflation-adjusted accounting, says minister

Türkish companies’ end-2023 balance sheets will be inflation-adjusted, with the practice expected to continue until 2026

UAE ISRAEL BAHRAIN ABRAHAM ACCORDS Image courtesy: Getty Images

Abraham Accords: Marking the third anniversary of the historic agreement

Experts believe the third anniversary of the Abraham Accords is the most significant one yet

aiBANK partners with Visa to advance digital payments

EFG Holding’s aiBANK, Visa partner to advance digital payments

The partnership seeks to provide customers with a comprehensive range of innovative products and services tailored to modern digital payment preferences

King Salman and Prince Mohammad bin Salman invite members to the 32nd Arab League Summit. Image Credit: Saudi Arabia's MOFA

Arab League Summit begins in Jeddah

The 32nd Arab League summit brings together 22 member countries and five observer nations in Saudi Arabia’s coastal town

EFG Hermes exit Oman

EFG Hermes shuts Oman operations

The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric

Egypt

Egypt inflation surges to highest since July 2017 on food prices

On a monthly basis, prices grew 2.7 per cent, compared with 6.5 per cent in February

TotalEnergies, Iraq deal

Iraq, TotalEnergies to proceed with $27bn energy project

The energy project aims to recover flared gas on three oil fields in order to supply power plants and build a seawater treatment plant to increase oil production

World Bank Egypt

World Bank approves five-year plan to support Egypt development

The framework’s projects will be supported with $7bn in lending, comprising of $1bn a year from the International Bank for Reconstruction and Development

quakes hit Turkey

Fresh quakes hit Turkey, two weeks after disaster

A 6.4 and 5.8 magnitude earthquakes hit the country’s southeastern Hatay province on Monday

Ministry of Defence

UAE’s Ministry of Defence ends rescue and search activities in Turkey

During the operation, the team managed to rescue 10 people and recover 26 bodies

Turkey

Rescue efforts continue a week after Turkey, Syria earthquakes

The death toll in Turkey and Syria from the earthquakes and major aftershocks rose above 35,000

ESG investing in the MENA region

Insights: Maximising the potential of ESG investing in the MENA region

Investors in the region could be missing a big opportunity, as investment firms globally are facing increasing demand for ESG investment products that integrate thematic ESG strategies and comply with regulatory requirements

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Middle East CEOs confident about economic growth in 2023, finds PwC survey

According to the survey, 61 per cent of Middle East CEOs expect regional economic growth to improve in 2023 and are ‘very confident’ about prospects for business revenue growth over the next three years

Home Retail takes centerstage in the Middle East

How home retail is growing in the Middle East?

Home Retailers are always on the look out to evaluate opportunities to expand their footprint and increase their assortment to ensure that they become a one-stop solution for all home retail needs

UAE, WHO sign $25m agreement

UAE, WHO sign $25m agreement for Al Makassed Hospital in East Jerusalem

The agreement comes as part of the UAE’s efforts to support the medical and healthcare sectors in Palestine

Renjan George and Sabu Thomas of DVCOM on the last day of GITEX

Gitex Africa: Dubai tech firm DVCOM is ready to launch global collaboration solutions

Gitex Africa will take place in Marrakech, one of the Morocco’s largest cities from May 31 to June 2, 2023

Amman’s Queen Alia International Airport welcomes over 5.8m passengers during Jan-Sep 2022

The passenger numbers registered a 89.6 per cent increase against 2021 figures

Mashreq, Anghami sign strategic partnership

Mashreq, Anghami announce regional strategic partnership

The partnership will see Anghami produce an exclusive podcast for Mashreq’s Brand Campaign “Rise Everyday” and offer the bank’s customers access to its content catalogue

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Sheikh Abdullah bin Zayed arrives in Tel Aviv on Abraham Accords’ second anniversary

Besides the UAE foreign minister’s latest visit, we take stock of the key developments and events since the signing of the historic accords

Tourist project

In pics: UAE President, regional leaders inspect tourism project in Egypt

The leaders were briefed about the five-star hotel which features several tourist facilities

Explainer: How companies in Middle East approach diversity, equality and inclusion?

Current efforts are not limited to just hiring, but also include investing in developing female talent to build up diverse pipelines, opines Maliha Jilani, member of the global social impact practice and partner at Heidrick & Struggles (Dubai)

Egypt carbon dioxide

Egypt to store carbon dioxide in cooperation with Italian Eni

The project will capture and store between 25,000 and 30,000 tonnes of carbon dioxide per year

The Food Lab, Egypt’s cloud kitchen operator, raises pre-seed round of $4.5m

Nuwa Capital, Shorooq Partners, and 4DX Ventures co-led the round, which comprised investors from all across the world

How DIFX is bridging the gap between traditional and digital assets

With a growing startup ecosystem and tech-driven individuals, the Middle East region is on the verge of becoming a global fintech leader, says Jeetu Kataria, co-founder and CEO at DIFX

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Lebanon strikes $3bn IMF deal in step to addressing crisis

The IMF loan will be disbursed over four years in return for the phased implementation of an economic recovery plan