First Independent Mena Newspaper
Saudi Arabia’s Public Investment Fund (PIF) and London-based real estate investment firm Cain International have injected $900 million in luxury hotel group Aman, Zawya reports citing the two partners. “Our investment in Aman Group reflects PIF’s belief in the current potential of the hospitality and tourism industry, both internationally and in Saudi Arabia,” PIF Deputy […]
Group One Holding, a Singapore-based company backed by Qatar’s wealth fund, Qatar Investment Authority (QIA), is considering a US initial public offering (IPO), reports say. The company is reportedly changing its legal domicile to the Cayman Islands from Singapore as a step towards the listing. Group One Holdings is Asia’s largest global sports media platform […]
Egypt is considering taking a loan estimated at around $2.5 billion from regional and international lenders to tackle growing economic pressures, reports say. The government, Bloomberg has revealed citing sources familiar with the matter, is negotiating with regional and international banks over the details of the financing. The talks, the unnamed sources told the US […]
Morocco is among the countries most exposed to geological and climate-related hazards in the Middle East and North Africa (MENA) region, says the World Bank in a recently-published report, noting that although Morocco does not contribute as much to climate change as more industrialized nations, it has still experienced the effects of the global climate […]
In a major development in Africa’s capital markets, Angola has launched its first initial public offering (IPO), which could lead to a slew of privatizations of some of the country’s biggest conglomerates. In June, Banco BAI, Angola’s largest private bank, floated a 10% stake following the country’s first initial public offering (IPO), viewed by observers […]
Many, if not most, African economies have endured a torrid time over recent years, as their finances have been hard hit by two global crises – Covid-19 and the Russia-Ukraine war. As a result, numerous states across Africa have turned to the International Monetary Fund (IMF) for assistance. Ghana is expecting to receive $3 billion […]
The European Union has reached out to the kingdom of Morocco to study possibilities to invest in the Morocco-Nigeria gas pipeline project that will connect up to Spain, in view of replacing Russia which is using its gas as political weapon. The move came after Nigerian President Muhammadu Buhari called on European Union countries and […]
The UK Foreign Affairs Committee has labelled Saddek Elkaber, the Governor of the Central Bank of Libya (CBL) “well-known financier of militias and gangsters” who runs a “troubled organization.” The committee’s bashing of the Libyan official comes after a meeting between Elkaber and Governor of Bank of England Andrew Bailey in July, Libya Update reports. […]
The governors of the central banks of Tunisia and Libya held Sunday talks in capital Tunis to improve cooperation between the two institutions. Marouen Abassi of the Central Bank of Tunisia (BCT) hosted his Libyan counterpart Seddik Omar Kébir. A statement from Libya’s CBL indicated the two governor discussed issues of mutual concern in “the […]
Saudi Arabia has posted a SR77.9 billion ($20.8 billion) budget surplus during the second quarter of 2022, representing 16 percent increase over the same period last year. The finance ministry said the state’s total revenues during the same period amounted to over SR370.4 billion, up 49 percent year-on-year, while expenditures stood at SR292.5 billion. Oil […]