Dubai Salik’s plans to open two additional toll gates in the city is ‘a game changer’ for the company, investment and brokerage company, Al Ramz Capital, said in a note on Friday. The analysts said Salik could generate an additional […]
Tukey-based Tosyali Holding AS has signed a memorandum of understanding with Saudi Arabia to invest nearly $5 billion in a steel plant, Bloomberg reported, citing chairman Fuat Tosyali. The investment is part of an expansion drive that includes Algeria, Angola, […]
The UAE has agreed to extend a $2 billion loan to Pakistan by another year, giving the Asian country a reprieve as it engages in discussions with the International Monetary Fund (IMF) for the release of a $1.2 billion loan […]
Dubai’s interior design and specialty contractor Depa PLC has won several projects worth more than 750 million dirhams ($204 million) from Saudi Arabia’s Red Sea Global (RSG). Saudi’s sovereign wealth fund, the Public Investment Fund (PIF), owns RSG and had […]
The UAE’s GDP is expected to expand by over 5 percent in 2024, exceeding the 2.8 percent growth expected for the global economy, according to Standard & Poor’s (S&P) Global Ratings projections. Tatiana Leskova, Associate Director of Corporate Ratings at […]
Russia’s tax revenue from its energy sector dropped 24% in 2023 as oil prices and Moscow’s natural gas exports fell. The Kremlin generated 8.82 trillion rubles ( $99.3 billion) last year, according to Bloomberg, citing new data from the Russian […]
Egypt-based autotech FriendyM has raised $3.2 million to fund its expansion plans. The company, which already has presence in Saudi Arabia, UAE, Cairo and Alexandria, operates an application that specialises in car management and upkeep, said to be the first […]
Keeping in line with its new monetary policy, the Bank of Tanzania has given a two-week notice to announce its new regulatory bank rate. A week ago, the bank announced its plans to initiate a new monetary policy framework, a […]
Cryptocurrencies are experiencing a remarkable surge in popularity across the African continent, reshaping financial landscapes and providing innovative solutions to longstanding challenges. From facilitating cross-border payments to offering a hedge against inflation, digital currencies have become a transformative force. In […]
Tech in Africa has become an integral part of the continent’s economic makeup and by extension tech funding. Companies such as Flutterwave and MNT-Halan have gone on to make significant strides in Africa’s tech ecosystem, paving the way for more […]
