Author: GAR STAFF
Wheat shortages due to the Ukrainian conflict have led to rising costs and concerns over food security.
The CEO of the Egyptian General Authority for Investment and Free Zones met with representatives of the Qatari Businessmen Association to discuss investment opportunities.
Masdar, Abu Dhabi’s sovereign investment company’s green energy producer, and Egypt’s Infinity Energy are set to buy a majority stake in South Africa’s Lekela Power. The deal would involve buying private equity firm Actis’ stake, in a deal valued near USD 1 billion.
Egypt has awarded eight gold and metal mining exploration licenses in the country’s eastern desert region.
Saudi Arabia has been invited to invest in the Djibouti International Free Trade Zone, which is strategically located along coastal trade routes valued at USD 2 trillion USD.
The UAE, Egypt and Jordan have signed the Industrial Partnership for Sustainable Economic Growth to bolster cooperation across the food and agriculture, fertilizer, pharmaceutical, textile, mineral, and petrochemical industries.
The Saudi Arabia-based International Islamic Trade Finance Corporation (IFTC) has raised Egypt’s credit rating to USD 6 billion to address rising costs of wheat.
Timbuktoo, the headquarters of the United Nations Development Programme’s (UNDP) new innovation financing hub will be based in Kigali, Rwanda.
The UAE’s non-oil foreign trade reached record levels of USD 136 billion in the first quarter of 2022, according to WAM, the UAE’s official news agency. The news comes as the UAE increasingly attempts to move away from its dependency on hydrocarbons.
Real estate service provider Jones Lang LaSalle’s (JLL) latest reports have indicated that construction in the Middle East and Africa (MEA) region continues to grow despite increasing price pressure.