Rotana, the hotel management company, is set to open the new resort in 2023. The company operates hotels in a number of North African states.
MENA unicorns set to emerge due to favorable regional conditions, according to a recent report by Saudi firm STV.
Saudi Arabia’s sovereign wealth fund, The Public Investment Fund (PIF) has launched the Saudi-Egyptian Investment Company (SEIC) in order to place investments across a wide range of sectors of the Egyptian economy, from infrastructure and real estate to pharmaceuticals.
MENA startups raised USD 105 million in July, the lowest monthly amount recorded so far this year, according to regional startup investor and development platform Wamda.
Dubai Chambers welcomed 10 decision makers from Ethiopia’s private and public sectors to discuss closer cooperation between the two countries. The delegates aimed to explore Dubai’s advances in digital services, to discuss the creation of business partnerships and to sign agreements in support of the Digital Ethiopia 2025 Strategy.
Saudi Arabia has announced the launch of The Saudi Investment Promotion Authority (Sipa). The Saudi Ministry of Investment said that Sipa was created as part of a directive issued by King Salman and Crown Prince Mohammed bin Salman.
Imperial, a transportation, logistics and supply firm owned by DP World, Dubai’s multinational logistics company, has increased its stake in Botswana’s PST Sales & Distribution (PST) from 38% to 72%.