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World - Region
1/25/2022 7:33:28 PM
A US-based casino operator on Tuesday announced plans to develop a multi-billion-dollar resort off the coast of the United Arab Emirates, a Muslim state in the Gulf where gambling is prohibited.

Business - Economy
1/23/2022 5:18:19 PM
Global foreign direct investment (FDI) flows jumped by 77 percent in 2021 to an estimated $1.6 trillion, up from the $929 billion recorded in 2020, exceeding their pre-COVID-19 level, according to the United Nation Conference on Trade and Development’s (UNCTAD) Investment Trends Monitor report.

Egypt - Society
1/19/2022 8:51:54 PM
A fraudulent moneymaking app called White Sands, which operated in Egypt for months and attracted millions of subscribers, disappeared this month after receiving “billions of pounds” from victims of an elaborate fraud, according to news reports and social media users.

Business - Economy
1/19/2022 5:39:02 PM
Egypt’s non-oil exports reached an all-time high of $32.1 billion in 2021, up from the $25.4 billion recorded in 2020 — an increase of 26 percent — according to an announcement made by Minister of Trade and Industry Nevine Gamea on Wednesday.

World - Region
1/18/2022 6:03:31 PM
The UN agency for Palestinian refugees, UNRWA, announced a $1.6 billion funding appeal Tuesday to help counter "chronic" budget shortfalls.

Business - Economy
1/18/2022 6:03:07 PM
Foreign investors have pumped $970 million since early January in investments in Egypt’s long-term treasury bills (T-bills), an official source at the Central Bank of Egypt (CBE) said on Tuesday.

World - International
1/17/2022 4:28:44 PM
Chinese President Xi Jinping called Monday for greater world cooperation against COVID-19 and pledged to send an additional 1 billion doses of vaccine to other countries, while urging other powers to discard a ``Cold-War mentality'' at a time of rising geopolitical tensions, a not-so-veiled swipe at the United States.

Business - Economy
1/17/2022 2:04:34 PM
Egypt’s Ministry of International Cooperation secured a total of $10.2 billion in development financing in 2021, including over $8.75 billion for financing sovereign projects and $1.57 billion in support of the private sector, according to a report the issued by the ministry on Monday.

World - International
1/17/2022 9:39:08 AM
The world's 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday.

Business - Markets & Companies
1/16/2022 5:48:20 PM
The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral development financial institution, and the Islamic Development Bank (IsDB) have established the Infra Initiative, a $1 billion private sector-focused infrastructure financing initiative, according to IsDB.

World - Region
1/16/2022 9:32:27 AM
Tunisia's crisis-stricken economy needs "deep reforms" such as slashing its vast public wage bill, the International Monetary Fund's outgoing country chief has said as the government seeks a new bailout.

World - International
1/14/2022 5:51:54 PM
Google on Friday agreed to buy a central London building complex for $1 billion but stressed it remained committed to new hybrid working patterns in the wake of Covid.

World - International
1/13/2022 10:48:12 PM
As President Joe Biden rode to the Capitol to prod Democrats on stalled voting and elections legislation, Democratic Sen. Kyrsten Sinema dashed their hopes of muscling the party's major priority past a Republican blockade.

World - International
1/13/2022 6:55:14 PM
Europe's natural gas crisis isn't letting up. Reserves are low. Prices are high. Utility customers are facing expensive bills. Major Russian supplier Gazprom isn't selling gas like it used to.

Business - Economy
1/13/2022 3:45:39 PM
The European Bank of Reconstruction and Development's (EBRD) green financing hit a record €5.4 billion, accounting for 51 percent of the bank’s total business volume of €10.4 billion in 2021 directed to its country members, the bank announced on Thursday.

World - Region
1/12/2022 8:57:15 PM
The United Nations will need around $3.9 billion this year to help millions of people in war-torn Yemen, a top UN humanitarian official said Wednesday.

Business - Economy
1/12/2022 5:45:28 PM
The International Monetary Fund (IMF) estimated the financing gap of the Access to COVID-19 Tools (ACT) at $23 billion, urging the international community to close the gap for the sake of boosting recovery from the pandemic, especially in Africa.

World - International
1/12/2022 2:42:38 PM
Sweden announced Wednesday it had earmarked some 6 billion kronor ($661 million) for a temporary scheme to help the most affected households across the Scandinavian country to cope with high electricity bills this winter.

Egypt - Society
1/12/2022 1:30:12 PM
Egyptian President Abdel Fattah El-Sisi told a World Youth Forum panel on Tuesday that poverty steers states to “mazes” that could lead to terrorism and extremism, adding that the state spent around $400 billion “to get out of the poverty maze.”

Business - Economy
1/11/2022 2:45:49 PM
The total Islamic bonds (sukuk) issued in 2021 worldwide grew significantly by 36.1 percent Y-o-Y to reach $252.3 billion, with central banks, governments, and multilateral institutions dominating sukuk issuances, Fitch Ratings said on Tuesday.

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