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Sports
- Ring in the new year with some exciting matchups.
- Napoli goes for gold.
- Al Ahly vs Al Masry tonight. Plus Boxing Day in English Premier League
- Three Egyptian Premier League games on tonight.
- Get your football fix with two games tonight.
- Only two matches to follow today.
- Sports contributed USD 6.9 bn to Saudi Arabia’s GDP last year.
- It’s a busy Sunday for football lovers.
- This weekend’s football forecast.
- The pitches are back and lit up with finals and quarterfinals.
Entertainment
Tech
- Businesses report improved business performance citing AI adoption.
- Google unveils raft of measures to boost AI in the Middle East.
- Gitex Global 2024 wraps with AI and data analytics agreements.
- AI and digitalization were the main attractions on day 4 of Gitex Global 2024.
- AI and digitization take center stage at Gitex 2024.
- Event report: Day two of Gitex.
- Khazna Data Centers to build the UAE’s largest data center in Ajman.
- Microsoft plans first regional engineering development center in Abu Dhabi.
- Global AI index sees Saudi AI industry leading Arab world.
- MIS is expanding Saudi Fransi’s data center capacity.
Health
My morning routine
- Ibrahim Nofal, founder of Sportanza and Egypt Padel Tour
- Ibrahim Nofal, founder of Sportanza and Egypt Padel Tour. (My Morning Routine)
- My Morning Routine: David Vili, founder and CEO of SolarSpace
- David Vili, founder and CEO of SolarSpace.
- My Morning Routine: Mohamed Sekkina, general manager of Talabat Mart Egypt
- Mohamed Sekkina, general manager of Talabat Mart Egypt. (My Morning Routine)
- My Morning Routine: Hala Abdel Wadood, CEO of Moharram & Partners
- Hala Abdel Wadood, CEO of Moharram & Partners.
- My Morning Routine: Firdosh Sheikh, founder and CEO of Drife
- Firdosh Sheikh, founder and CEO of Drife. (My Morning Routine)
Agriculture
Automotive
- Al Mansour Auto, SAIC’s USD 135 mn MG manufacturing plant to go live in 2026.
- Gov’t imposes new personal car import rules to curb USD outflows + Car dealers to import USD 1.8 bn worth of vehicles next year.
- Gov’t allocates plot for Al Mansour Automotive and SAIC’s MG assembly plant.
- Auto sales inch up in October after two months of decline.
- Nissan Egypt to invest USD 45 mn in new locally assembled model.
- Alkan, NATCO, and Zero Carbon plan major EV launches in 2025.
- Al Mansour Automotive and China’s SAIC to build MG assembly plant.
- El Nasr Auto and Al Safy Group form auto assembly JV with USD 40 mn in initial investments.
- El Nasr Automotive back in gear after 15-year assembly pause.
- Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant.
WHAT WE’RE TRACKING TODAY
- Voda Sidebar Camp
- VodaCampaign
- THIS MORNING: Major roads in Dubai will close starting at 4pm today
- Hatta set for major upgrade.
- Get ahead of road closures.
- Happy new year, folks
- Acwa Power secures a 1 GW renewables portfolio in China.
- TODAY: Egypt getting MG vehicle manufacturing plant + Ibnsina Pharma leasing land in Egypt’s Yanmu
- Turkey’s Karpowership might supply Syria with power.
- Yamna eyes Salalah Port for green ammonia bunkering.
ECONOMY
- UAE dominated intra-GCC trade in 2023
- The UAE dominated intra-GCC trade in 2023.
- Net FDI inflows drop again in 3Q 2024
- Net FDI inflows drop again in 3Q 2024.
- Real GDP growth hits 3.6% in 1H 2024
- Real GDP growth hits 3.6% in 1H 2024.
- Central Bank of Egypt keeps rates unchanged for sixth time in a row
- Central Bank of Egypt keeps rates unchanged for sixth time in a row.
- Madbouly, private sector heavyweights discuss challenges, propose solutions
- Madbouly, private sector heavyweights discuss challenges, proposed solutions.
ENERGY
- UAE’s Alcazar to set up a 3.1 GW hybrid renewable energy station in Zafarana
- EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm
- EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm.
- BP and Shell to add 125 mn cbf of daily gas production in 2026 with USD 370 mn project
- BP and Shell to add 125 mn cbf of daily gas production in 2026 with USD 370 mn project.
- Adnoc Drilling closes Turnwell JV agreement with SLB and Patterson-UTI
- Adnoc Drilling closes Turnwell JV agreement with SLB and Patterson-UTI.
- BP and Adnoc have more appetite for Egypt energy exploration
- Oil Ministry wants to see gas production rise by 400-500 mn cubic feet per day by March
- Gov’t wants to see gas production up by 400-500 mn cubic feet per day by March.
EARNINGS WATCH
- Concrete Fashion Group ends 9M 2024 in the green
- Talabat’s net income jumps 44.5% in 9M 2024
- Talabat reports first financial results since IPO ahead of its DFM debut today.
- Talabat’s net income jumps 44.5% in 9M 2024
- Emirates REIT’s net income jumps 60% y-o-y in 9M 2024. PLUS: REIT refinances sukuk
- Tas’heel drove growth in United International Holding’s results in 3Q
- Tas’heel drove growth in United International Holding’s results in 3Q.
- NBE and Banque du Caire report solid bottomline growth
- CIRA Education’s topline climbs 35% in FY 2023/24
- CIRA Education’s topline climbs 35% in FY 2023/24.
ALSO ON OUR RADAR
- Al Ansari and Halan join forces to launch an early salary access service
- Al Ansari + Halan to launch early salary access service.
- SAR to reroute freight trains away from urban areas in Al Ahsa
- SAR to reroute freight trains away from urban areas in Al Ahsa.
- Saudi Arabia Railways to transfer freight trains to new Al Ahsa track
- Saudi Arabia Railways to transfer freight trains to new Al Ahsa track.
- Solar and waste management updates from Saudi Arabia + Egypt
- PVH expands solar manufacturing in Saudi Arabia.
- Klivvr to launch consumer finance arm
- UAE opens a new trade link to China through Northern Pakistan
PLANET FINANCE
- Corporate debt soars to record highs in 2024 amid investor appetite and favorable spreads
- Corporate debt soars to record highs in 2024 amid investor appetite.
- Corporate debt soars to record highs in 2024 amid investor appetite and favorable spreads
- Corporate debt soars to record highs in 2024 amid investor appetite and favorable spreads.
- Businesses are bracing for Trump tariffs with frontloading and price hikes
- Businesses are bracing for Trump tariffs with frontloading and price hikes.
- Businesses are bracing for Trump tariffs with frontloading and price hikes
- US-led trade war spurs supply chain shifts.
- Businesses are bracing for Trump tariffs with frontloading and price hikes
- Businesses are bracing for Trump tariffs with frontloading and price hikes.
BLACKBOARD
- How Egypt’s education sector fared in 2024
- How Egypt’s education sector fared in 2024.
- Gov’t is looking into new ways to increase private sector involvement in education
- Gov’t is looking into new ways to increase private sector involvement in education.
- Diving into the government’s plan for national universities
- Diving into the government’s plan for national universities.
- The SATs may be returning to Egypt in 2025
- The SATs may be returning to Egypt in 2025, alongside new regulations to prevent exam manipulation.
- Will golden licenses spark a revival in Egypt’s private education sector?
- Will golden licenses spark a revival in Egypt’s private education sector?
WHAT WE’RE TRACKING TONIGHT
- Instapay won’t charge individuals transfer fees through March
- Gov’t announces EGP 30 bn industrial initiative
- Fresh details on our car import scheme
- Alcazar to build USD 2.5 bn hybrid renewables project in Zafarana
- Your mobile and internet bills could be going up as much as 30%
- Honda and Nissan begin talks on merger as auto sector competition heats up
- Our latest round of industrial land allocations is set to be announced today
- Shalateen’s gold deliveries to the central bank to hit 1.25 tons next year
- Fitch’s BMI pushes up next fiscal year’s year growth forecast, pushes down current fiscal year projections
- BP and Shell are working to turn the tap on at their Harmattan field
FOR YOUR COMMUTE
- Why do AI companies want Reddit’s data?
- Why do AI companies want Reddit’s data?
- The hegemony of English
- The hegemony of English.
- Millennials are sick of being work machines
- Millennials are sick of being work machines.
- Battle of the search engines
- Battle of the search engines.
- Advances in AI could hold the key to decoding animal communication
- Advances in AI could hold the key to decoding animal communication.
ON THE TUBE TONIGHT
- A reenactment of the most famous ghost story ever told
- A reenactment of the most famous ghost story ever told.
- Squid Game 2.0
- Squid Game 2.0.
- Psychiatry turns into manipulation
- Psychiatry turns into manipulation.
- The weirdest true crime story you’ll ever see
- The weirdest true crime story you’ll ever see.
- An atmospheric thriller with a dark premise
- An atmospheric thriller with a dark premise.
EAT THIS TONIGHT
- Simple sandwiches satisfy the biggest cravings
- Simple sandwiches satisfy the biggest cravings.
- Ready to taste true Turkish delights
- Ready to taste true Turkish delights.
- The essence of Italy for pizza enthusiasts
- The essence of Italy for pizza enthusiasts.
- Fino for breakfast, lunch, or dinner
- Fino for breakfast, lunch, or dinner.
- When is a burger not a burger?
- When is a burger not a burger?
OUT AND ABOUT
- New Year’s eve plans
- New Year’s eve plans.
- Black Coffee live in El Gouna
- Black Coffee live in El Gouna.
- One last laugh in 2024
- One last laugh in 2024.
- Release your inner negativity with this drum circle
- Release your inner negativity with this drum circle.
- Insider access into the world of football
- Insider access into the world of football.
GO WITH THE FLOW
- What the markets are doing on 30 December
- What the markets are doing on 29 December 2024
- What the markets are doing on 26 December 2024
- What the markets are doing on 25 December 2024
- What the markets are doing on 24 December 2024
- What the markets are doing on 23 December 2024
- What the markets are doing on 22 December 2024
- What the markets are doing on 19 December 2024
- What the markets are doing on 18 December 2024
LIFESTYLE
IPO WATCH
- Almoosa Health’s Tadawul IPO retail tranche was 5.1x oversubscribed
- Almoosa Health’s Tadawul IPO retail tranche was 5.1x oversubscribed.
- Al Battal Factory prices Nomu IPO at SAR 63 apiece
- Al Battal Factory prices Nomu IPO at SAR 63 apiece.
- Itmam Consulting issues prospectus for Nomu IPO
- Itmam Consulting is taking a 15% stake to Tadawul's parallel market Nomu.
- Korra Energi to offer up to 20% of company in upcoming IPO
- Korra Energi to offer up to 20% of company in upcoming IPO.
- Almoosa Health prices IPO top of the guidance range
- Almoosa Health prices IPO top of the guidance range at SAR 127 apiece.
CUSTOMS
EDUCATION
- AUC receives largest gift in its history from the Sawiris family
- AUC receives USD 30 mn donation from the Sawiris family, marking the university’s largest ever gift.
- EFG Hermes launches USD 300 mn Saudi Education Fund, acquires schools across the GCC
- EFG Hermes launches USD 300 mn Saudi Education Fund, acquires schools across the GCC.
- EFG Hermes acquires two schools in the UAE through new USD 300 mn KSA-based education fund
- EFG Hermes acquires two UAE schools through USD 300 mn KSA-based education fund.
- EFG Hermes launches USD 300 mn, Saudi-focused education fund
- EFG Hermes launches a new USD 300 mn education fund in Saudi Arabia.
- Taaleem to develop new campus following land acquisition agreement
- Taaleem to develop new campus following land acquisition agreement.
KUDOS
- 10 UAE venture capitalists make Forbes’ Middle East’s top VCs list + Mashreq Al Islami’s retail brand receives accolade
- 10 UAE companies make Forbes’ Middle East’s top VCs list.
- Beltone Holding CEO Dalia Khorshid honored at Forbes Middle East Women's Summit 2024
- Crown Prince named personality of the Year 2024
- Crown Prince named personality of the Year 2024.
- Turkish Airlines wins Guinness World Record Title for Most Countries Flown to by an Airline
- Dnata takes Ground Support Services Provider of the Year title
- Mashreq Al Islami’s CEO recognized as best Islamic Banking CEO by Global Business Outlook Awards + FAB classified as one of four leading GCC banks by Fitch. PLUS: Al Tamimi and Company’s training program hits 80% success rate
- Awards all around
- Awards for telecom companies + record achievements at King Fahd Int’l Airport.
MOVES
- Leejam Sports taps Abdulelah Al-Nemr as new CEO
- Leejam Sports taps Abdulelah Al-Nemr as new CEO.
- Prime Minister taps a new director for the Federal Youth Authority
- Tarek El Hadidi to helm Metallurgical Industries Holding as non-executive chairman
- UAE royal joins Color Star’s board
- Bank of Sharjah names Sridhar Karlapudi as its new COO + Intel taps Taha Khalifa as general manager for the Middle East and Africa
- MBC Media Solutions appoints president for its local advertising outfit
- Phoenix appoints Munaf Ali as GCEO, eyes international listing in 2025
- Phoenix appoints Munaf Ali as GCEO, eyes Nasdaq dual listing in 2025.
- Mashreq names Jyothi Bathula as new global head of MGN + Managing Director of MGN India
LAST NIGHT’S TALK SHOWS
- FinMin deputy shares fresh details on the customs on imported mobile phones
- FinMin deputy shares fresh details on the customs on imported mobile phones.
- El Sisi discusses boosting ties with Indonesia’s president
- El Sisi, Indonesian president discuss boosting ties.
- El SIsi, Jordan’s King Abdallah discuss (you guessed it) “regional developments”
- El Sisi meets with armed forces, police, media officials
- Arab diplomacy takes center stage on the airwaves as Syria’s future hangs in the balance.
- Egypt condemns Israel's seizure of Syrian buffer zone, urges international action
- The fall of the Assad regime in Syria dominated the airwaves
- The rebel advance in Syria continued to spark debate on the airwaves
EGYPT IN THE NEWS
- Egypt arrests two men for attempted theft of over 400 ancient artifacts
- US approves USD 5 bn arms sale to Egypt
- US approves USD 5 bn arms sale to Egypt.
- Egypt: A go-to destination for vacationing on a budget
- Egypt: A go-to destination for vacationing on a budget.
- Syrians in Egypt celebrating the fall of Assad’s regime catches the attention of the int’l press
- Military firm to replace GASC as nation’s sole strategic commodities importer, says Reuters
- Military firm to replace GASC as nation’s sole strategic commodities importer, says Reuters
- Four bodies recovered, five survivors found following tourist boat capsizing
- At least 16 missing after tourist boat capsizes in the Red Sea
HARDHAT
- How did Egypt’s infrastructure sector fare in 2024?
- How did Egypt’s infrastructure sector fare in 2024?
- The government is pushing for maritime amendments that could have a big effect on the sector
- Gov’t is pushing for maritime amendments that could have a big effect on the sector.
- Could the National Smart Cities Strategy change how we go about urban development?
- Could the National Smart Cities Strategy change how we go about urban development?
- The cyber threats facing Egypt and how to address them
- The cyber threats facing Egypt and how to address them.
- Visa’s new payment threats report breaks down the latest in fraudulent activities
- Visa’s new payment threats report breaks down the latest in fraudulent activities.
SOCIETY
ENTERPRISE RECOMMENDS
- A cooking competition with a twist.
- The Champions League is back on tonight
- 1001 nights at the opera
- Espionage isn’t like 007
- Mat’am El Habayeb is definitely a tasty watch
- Fried chicken spot Heros has something for every palate
- A few matches to go until the Champions League resumes tomorrow
- El Hadaba in an exclusive VIP concert
- Interconnected characters in a tale of resilience.
- Time travel meets murder mystery
MACRO PICTURE
- Global GDP at risk due to modest investments in climate mitigation
- Global GDP could shrink by 14% by 2030 due to insufficient adaptation + mitigation investments.
- Reforestation is more than just planting trees.
- Sustainable Development Goals are lagging behind 2030 goals
- Sustainable Development Goals are lagging behind 2030 goals.
- Regional liner shipping connectivity falls amid Red Sea disruptions
- Regional liner shipping connectivity falls amid Red Sea disruptions.
- Green hydrogen prices are expected to see a big drop in the region by 2030
- Climate change induced water crisis worsens global conflicts, UN says
- Climate change induced water crisis worsens global conflicts, UN says.
Under the Lamplight
- A fresh take on AI’s predictive abilities
- A fresh take on AI’s predictive abilities.
- A guidebook to leadership
- A guidebook to leadership.
- Coexisting with AI
- Coexisting with AI.
- The solution to global chaos all in one book
- The solution to global chaos all in one book.
- Self discovery at age 72
- Self discovery at age 72.
The Big Stories Today
- Egypt’s economy grew 2.4% in FY 2023-24 + Non-oil private sector activity shrinks in September.
- Power cuts extend to three hours a day until further notice.
- Annual inflation drops to lowest level since January 2023.
- El Sisi, Jinping discuss regional conflict and water security in Beijing summit + subsidized bread gets pricier.
- T-bill trading via brokerage firms on EGX in 4 months + OneOrder raises USD 16 mn in a series A round.
- USD 14 bn from Ras El Hekma agreement is officially here, Madbouly confirms.
- FinMin publishes initial budget report for fiscal year 2024-2025. PLUS: PHD, Cleopatra Group to develop a new North Coast project.
- Egypt signs three industrial investment agreements + NUCA is taking its first sukuk issuance to market.
- Vodafone Egypt’s network snag resolved. PLUS: Egypt’s non-oil private sector activity contracts at its sharpest rate so far.
- NUCA, NHMC sign agreement for urban, medical project in Shorouk + New mix-use project in Andalusia Garden gets the greenlight.
MANUFACTURING
- Gov’t unveils EGP 30 bn industrial initiative
- Gov’t unveils EGP 30 bn industrial initiative.
- AOI to set up solar panel manufacturing project with Swedish Sunshine Pro
- Turkish denim manufacturer to invest USD 8.8 mn in SCZone
- Turkish denim manufacturer to invest USD 8.8 mn in SCZone.
- Neom + Samsung JV for construction robotics
- Neom + Samsung to set up a construction robotics JV with SAR 1.3 bn in initial investments.
- Edge Group and Indra Sistemas formalize UAE-based radar systems manufacturing JV
- Edge Group and Indra Sistemas formalize UAE-based radar systems manufacturing JV.
- China’s Wu’an Xin Feng eyes USD 1.7 bn industrial complex
A MESSAGE FROM AUC’S ONSI SAWIRIS SCHOOL OF BUSINESS EXECUTIVE EDUCATION
STARTUP WATCH
- Edtech startup Ynmo closes USD 5 mn round led by Wa’ed Ventures.
- VMS to launch a new USD 10 mn startup fund focused on Al Madinah
- VMS to launch a new USD 10 mn startup fund focused on Al Madinah.
- AI startup OmniOps raises SAR 30 mn to fuel growth
- AI startup OmniOps raises SAR 30 mn to fuel growth.
- Embedded SME lending startup CredibleX secured USD 55 mn in debt and equity seed funding
- Refurb tech startup Revibe closed a USD 7 mn series A funding round
- Refurb tech startup Revibe closed a USD 7 mn series A funding round.
- Embedded SME lending startup CredibleX secured USD 55 mn in debt and equity seed funding.
- Klickl International raises USD 25 mn in its Series A round
The Big Story Abroad
- EU gas prices are on the rise as Ukraine refuses to pipe more Russian gas.
- Japan’s Nikkei index is the comeback kid.
- Denmark has become the first country to impose a CO2 tax on agriculture.
- A EU-China trade war is brewing as concerns over cheap imports intensify.
- Can global climate goals withstand another Trump presidency?
- Baltimore continues to dominate the news cycle state-side.
- What to watch for in the Iowa caucuses.
TRANSPORT
- RTA awards AED 20.5 bn contract for Blue Metro line development
- RTA awards AED 20.5 bn contract for Blue Metro line development.
- Railway authority to launch tender for Tanta-Damietta line development next year
- Railway authority to launch tender for Tanta-Damietta line development next year.
- Dubai to get new trackless tram, more road upgrades as part of AED 16 bn urban mobility and infrastructure plan
- Dubai to get new trackless tram, more road upgrades as part of AED 16 bn urban mobility and infrastructure plan.
- Airline expansions, tourism forecasts, and eVTOL updates from day two of ATM
- Airline expansions, tourism forecasts, and eVTOL updates from day two of ATM.
- Emirati-Omani consortium snags USD 1.35 bn contract for UAE-Oman rail link
- Emirati-Omani consortium snag USD 1.35 bn contract for UAE-Oman rail link.
DIPLOMACY
- UAE mediates tenth Russia-Ukraine prisoner swap
- UAE mediates tenth Russia-Ukraine prisoner swap.
- Egypt + Thailand establish Joint Trade Committee, Bahrain + South Korea expand trade opportunities.
- Saudi Arabia supports Yemen with a USD 500 mn aid package
- Saudi Arabia supports Yemen with a USD 500 mn aid package.
- UAE, Turkey eye more cooperation + talk regional security.
- UAE, Turkey eye more cooperation + talk regional security
- Egypt + Uzbekistan ink protocol to boost trade exchange
- Egypt + Uzbekistan ink protocol to boost trade exchange.
- UAE, Syria FMs exchange words for the first time since Assad’s departure
WAR WATCH
- Airlines suspend + reroute flights following Iran attack against Israel
- Domestic airlines suspend + reroute flights following Iran attack against Israel.
- UN Security Council votes for immediate Gaza ceasefire
- UN Security Council votes for immediate Gaza ceasefire.
- Ceasefire negotiations reportedly make progress, despite Netanyahu’s pledge to carry out Rafah operation
- Israel claims ceasefire before Ramadan in the cards
- Egypt presents arguments against Israel at ICJ. Plus: Hamas Chief Haniyeh is in town, WFP pauses food deliveries to Gaza.
- Israel “deliberately” destroying life in Gaza, Egypt says at the IJC.
- Egypt slams “shameful” US Gaza ceasefire veto
- Egypt slams “shameful” US Gaza ceasefire veto.
Going Green
- The green economy in 2024: A rundown of investments, initiatives, and challenges that defined the year
- The green economy in 2024: A rundown of investments, initiatives, and challenges that defined the year.
- Egypt is looking towards upping energy efficiency to help meet its climate goals
- Egypt is looking towards upping energy efficiency to help meet its climate goals.
- SEKEM wants to make organic and biodynamic agricultural Egypt’s industry standard
- SEKEM wants to make organic and biodynamic agricultural Egypt’s industry standard.
- Creating an international market for green hydrogen will be key to executing the green transition
- Creating an international market for green hydrogen will be key to executing the green transition.
- How Big Scrappers is transforming Egypt’s recycling landscape
- How Big Scrappers is transforming Egypt’s recycling landscape.
INVESTMENT WATCH
- Egypt’s Al Mansour Group to build a new USD 135 mn car manufacturing factory
- Egypt’s Al Mansour Group to build a new USD 135 mn car manufacturing factory.
- Suez Steel invests USD 120 mn in SCZone’s Al Adabiya Port
- Suez Steel invests USD 120 mn in SCZone’s Al Adabiya Port.
- Adnoc Drilling JV to invest USD 750 in oilfield tech firm next year.
- Adnoc Drilling JV to invest USD 750 mn in oilfield tech firm acquisitions next year
- Iran inks USD 1.86 bn worth of contracts for port and maritime development
- Egypt’s TMT invests EGP 150 mn into customs station at Alexandria Port
- Egypt’s TMT invests EGP 150 mn into customs station at Alexandria Port.
- Iran inks USD 1.86 bn worth of contracts for port and maritime development.
DEBT WATCH
- EFG Finance’s Bedaya issues EGP 1.8 bn in securitized bonds + Contact, Al Ahly Leasing close securitization rounds
- Shuaa approves AED 425.5 mn convertible bond issuance
- Shuaa approves AED 425.5 mn convertible bond issuance.
- EGA secures a green loan for Spectro acquisition
- EGA secures a green loan for Spectro acquisition.
- Bank AlJazira kicks off tier 1 sukuk issuance
- Bank AlJazira kicks off tier 1 sukuk issuance.
- Madinet Masr secures EGP 9 bn syndicated loan
- FinMin closes SAR 11.6 bn in December sukuk issuance
- FinMin closes SAR 11.6 bn in December sukuk issuance.
INFRASTRUCTURE
- WTCO issues RFQs for water transmission system project
- WTCO issues RFQs for water transmission system project.
- KSA turns to digital stadiums for sports transformation
- KSA turns to digital stadiums for sports transformation.
- DP World’s Drydocks to engineer 2 GW Ostwind grid connection project
- DP World’s Drydocks to engineer 2 GW Ostwind grid connection project.
- NWC launches SAR 11.6 bn worth of water projects in the provinces
- NWC launches SAR 11.6 bn worth of water projects in the provinces.
- Alfanar, SEC ink SAR 20 bn contracts for power infrastructure projects
- Alfanar, SEC ink SAR 20 bn contracts for power infrastructure projects.
SPOTLIGHT
- The UAE and the US have grown their ties in AI, defense, and green energy — now, it’s space
- The UAE and the US have grown their ties in AI, defense, and green energy — now, it’s space.
- On the digital trade finance revolution, open banking, and what AI can do for corporate banking
- On the digital trade finance revolution, open banking, and what AI can do for corporate banking.
- What’s in the pipeline for Mashreq Neo + more on the successes and challenges of digital banking in the region
- What’s in the pipeline for Mashreq Neo + more on the successes and challenges of digital banking in the region.
- Mashreq’s Radu Topliceanu on the successes and challenges of developing digital banking propositions in emerging markets
- Mashreq’s Radu Topliceanu on the successes and challenges of developing digital banking propositions in emerging markets.
- FRA’s Farid highlights how the regulator brought new instruments + depth to the market
- FRA’s Farid highlights how the regulator brought new instruments + depth to the market.
UAE IN THE NEWS
- The rise and fall of UAE stocks + the rush of law firms to the region
- ADFW puts finance at center stage in the foreign press
- Dubai is becoming a super magnet for big IPOs
- Al Mubarak talks tourism plans and housing challenges
- Surge in property buyers + UHNWIs continues to dominate the conversation around the UAE in the foreign press
- Dubai’s emerging real estate investment options + murder of Israeli-Moldovan rabbi are getting attention
- UAE arrests three suspects for killing of Israeli-Moldovan rabbi.
- Abu Dhabi woos UK’s ultra-rich as tax reforms spark exodus concerns
- More attention turns to the UAE’s USD 1 tn stock market + Dubai’s tourism appeal + Denizbank’s CEO’s indictment
- A look at Dubai’s lush Earth Course + DP World’s lifeline to P&O Ferries
THE WEEK IN REVIEW
- A new EGP 30 bn financing initiative for industry
- Gov’t unveils new EGP 30 bn industrial initiative.
- Happened this week: CBE keeps interest rates unchanged, extends inflation targets
- CBE keeps interest rates unchanged, extends inflation targets.
- Details on the 23 industries the government wants to localize + Post-Assad Syria
- The aftermath of Bashar Al Assad’s fall
- Egypt’s non-oil private sector activity contracts for the third consecutive month in November
- A fragile Israel-Hezbollah ceasefire takes effect
- Climate talks in disarray as tepid G20 statement fails to impress
- Trump picks his team for term two
THE ENTERPRISE GUIDE
WHAT ARE YOU UP TO THIS WEEKEND?
- Grief triggers the chaos of the Shanab family
- Kindness, human connection, and the weight of unspoken words
- Eddie and his alien sidekick are back one last time
- Unraveling a technofuturist mystery
- The early bird gets the brekkie taco
- The Apprentice: Trump’s (villain?) origin story
- If you’re a perfectionist, this book is for you
- The king of chaos loses his crown
- Your future self should be your guiding compass
- Is evil real if you can’t see it?
WHAT TO LISTEN TO
- Tuning into 2024’s best podcasts
- Tuning into 2024’s best podcasts.
- A hopeful look at diverse global issues.
- A hopeful look at diverse global issues
- Sit down and have a cup of coffee with S. E. Cupp
- Sit down and have a cup of coffee with S. E. Cupp.
- Muhammad Ali knows there’s more to resilience than fighting
- Muhammad Ali knows there’s more to resilience than fighting.
- A safe space for Arab women to share their experiences
- A podcast on the struggles and concerns of women in the Arab world.
From the Bookstore
- 2024’s best reads
- 2024’s best reads.
- Some tough love about our future.
- Some tough love about our future
- The longest elevator ride
- The longest elevator ride.
- Ta-Nehisi Coates offers a firsthand look at racism in America
- Ta-Nehisi Coates offers a firsthand look at racism in America.
- When to do anything
- When to do anything.
Hot and Fresh Out of the Kitchen
- What we ate in 2024
- What we ate this year.
- Savor the heart of Vietnam at Pho Viet.
- Savor the heart of Vietnam at Pho Viet
- Enjoy unlimited sushi at Sokyo’s conveyor belt
- Enjoy unlimited sushi at Sokyo’s conveyor belt.
- Relive your childhood at Brass Monkey
- Relive your childhood at Brass Monkey.
- Warm your soul with a bowl of Lanzhou beef noodles this winter
- Warm your soul with a bowl of Lanzhou beef noodles this winter.
CAPITAL MARKETS
- Twareat Medical Center pegged its Nomu direct listing at SAR 12 apiece
- Twareat Medical Center pegged its Nomu direct listing at SAR 12 apiece.
- Beltone Holding announces EGP 10.75 bn capital increase
- Beltone Holding announces EGP 10.75 bn capital increase.
- ADX and Shanghai bourse to link up via ETFs + Franklin Templeton launches eighth feeder fund in DIFC
- ADX and Shanghai bourse to link up via ETFs + Franklin Templetown launches eighth feeder fund in DIFC.
- Emirates NBD dual-lists USD 500 mn sustainability-linked bond
- Emirates NBD dual-lists USD 500 mn sustainability-linked bond.
- The Sawiris family is looking to delist ODH from the Swiss Exchange
- IHC’s digital trading platform is now open for business
PHARMA
- Eva Pharma brings locally produced insulin glargine to market for the first time
- Eva Pharma brings locally produced insulin glargine to market for the first time in Egypt.
- Government dues owed to pharma firms hit EGP 50 bn
- Government dues owed to pharma firms hit EGP 50 bn.
- City Lab rebrands as Premium Healthcare Group, announces four new acquisition targets
- City Lab rebrands as Premium Healthcare Group, announces four new acquisition targets.
- Gov’t to end meds shortage with subsidized loans for pharma players
- Gov’t to end meds shortage with subsidized loans for pharma players.
- Pharma products will see hikes of up to 50%
- Pharma firms start receiving new pricing guidelines.
COMMODITIES
- New price controls on basic goods as of 2025
- New price controls on basic goods as of 2025.
- Egypt mulls adding corn flour to subsidized bread to reduce import bill
- Egypt mulls adding corn flour to subsidized bread to reduce import bill.
- GASC purchases 3.1 mn tons of wheat to be supplied monthly through April
- SCZone, Egyptian Holding Company for Silos and Storage to build USD 153 mn grain complex
- We’re in line for a USD 153 mn grain complex.
- Gov’t still on track to secure 3.8 mn tons of wheat by year’s end, says supply minister
- Gov’t still on track to secure 3.8 mn tons of wheat by year’s end, says supply minister.
- Our biggest wheat tender to date
CABINET WATCH
- Cabinet greenlights amendments to CST regulations
- Cabinet greenlights amendments to the CST regulations.
- AMEA Power’s 1 GW solar plant in Benban gets golden license
- AMEA Power’s 1 GW solar plant in Benban gets golden license.
- Cabinet greenlights industrial incentives + a handful of agreements
- Cabinet greenlights industrial incentives + a handful of agreements.
- Cabinet approves stricter drug test laws, oil explorations contracts, green financing front the EU, and Sinai land use rule extensions
- The UAE now has a Family Ministry
- The UAE now has a Family Ministry.
- Cabinet approves public transport protection law, food factory golden license, and desert land development chamber
ENTERPRISE FINANCE FORUM
- Industry leaders tell us what to look out for in 2025
- Industry leaders tell us what to look out for in 2025.
- A look into Egypt’s real estate market
- A look into Egypt’s real estate market.
- A look into Egypt’s non-banking financial sector
- A look into Egypt’s non-banking financial sector.
- What will it take to reignite investor confidence?
- What will it take to reignite investor confidence?
- SME finance: Who’s doing it and what’s missing in that sphere?
- SME finance: Who’s doing it and what’s missing in that sphere?
PRIVATIZATION WATCH
- Government to offer up stakes in ten companies to strategic investors and on the EGX in 2025
- It looks like ramping up privatization efforts is going to be one of the state’s New Year’s resolutions.
- Gov’t eyes listing up to four military companies on the EGX.
- Hassan Allam and ADP France submit joint proposal to manage Egyptian airports.
- United Bank eyes raising up to EGP 5.1 bn in upcoming IPO
- United Bank IPO could raise up to EGP 5.1 bn.
- United Bank announces intention to float
- United Bank to sell 30% stake on EGX this year.
- Private investors to manage five major Egyptian airports in the first phase of privatization plans
- Private investors to manage five major Egyptian airports in the first phase of privatization plans.
FINTECH
- Oliv receives Egypt’s first digital factoring license
- Oliv receives Egypt’s first digital factoring license.
- Saudi fintech in 2023 wrapped
- Saudi fintech in 2023 wrapped.
- MNT-Halan wants to go global
- MNT-Halan wants to go global.
- MNT-Halan raises USD 157.7 mn from international investors
- MNT-Halan raises USD 157.7 mn from international investors.
- Introducing du Pay
- Du launches fintech arm: du pay.
AROUND THE WORLD
- Airlines cancel flights to Russia after Azerbaijan Airlines plane crash
- Airlines cancel flights to Russia after Azerbaijan Airlines plane crash.
- Mongolia and Orano ink USD 1.47 bn uranium agreement
- Mongolia + France’s Orano ink USD 1.47 bn uranium mining agreement.
- Russia ramps up the use of crypto in foreign trade + Somalia launches the New Mogadishu Development Corporation
- Russia ramps up the use of crypto in foreign trade.
- India reconsiders USD 30 bn plan to cut coal pollution
- India mulls scrapping costly sulfur emission plan.
- Trump threatens to “take over” the Panama Canal if transit fees aren’t lowered
- Trump threatens to “take over” the Panama Canal if transit fees aren’t lowered.
INSIDE INDUSTRY
- How Egypt’s industrial sector fared in 2024: Part II
- How Egypt’s industrial sector fared in 2024: Part II.
- How Egypt’s industrial sector fared in 2024: Part 1
- How Egypt’s industrial sector fared in 2024: Part 1.
- What the feeder industries need to strengthen local manufacturing
- What the feeder industries need to strengthen local manufacturing.
- A look at the future of Egypt's food industry
- A look at the future of Egypt's food industry.
- Egypt ramps up industrial land offerings to spur local manufacturing
- Egypt ramps up industrial land offerings to spur local manufacturing.
The Big Story Today
- CBE extends Instapay transfer fee exemptions.
- A new EGP 30 bn initiative for local manufacturers.
- New restrictions on individual car imports.
- Alcazar to build USD 2.5 bn hybrid renewables project in Zafarana.
- Your mobile and internet bills could be going up as much as 30%.
- El Zahy Group secures EGP 4.2 bn from local banking consortium.
- Unionaire to invest USD 500 mn in 2025.
- Shalateen’s gold deliveries to the central bank to hit 1.25 tons next year.
- Fitch’s BMI pushes up next fiscal year’s year growth forecast, pushes down current fiscal year projections.
- BP and Shell invest USD 370 mn in local gas production project.
SPORTS
- Ring in the new year with some exciting matchups
- Napoli goes for gold
- Al Ahly vs Al Masry tonight Plus Boxing Day in English Premier League
- Three Egyptian Premier League games on tonight
- Get your football fix with two games tonight
- Only two matches to follow today
- Sports contributed USD 6.9 bn to Saudi Arabia’s GDP last year
- Busy Sunday for football lovers
- This weekend’s football forecast
- There’s plenty to watch today for football fans
TECHNOLOGY
- KHC invests SAR 1.5 bn in Elon Musk's xAI in series C round
- Kingdom Holding invests an additional SAR 1.5 bn in Elon Musk's xAI.
- Are we relying too much on AI?
- Are we relying too much on AI?
- Saudi accounted for 16% of MENA’s DDoS cyberattacks in 3Q -StormWall
- Saudi Arabia accounted for 16% of MENA’s cyberattacks in 3Q.
- Will technology actually destroy humanity?
- AI might destroy us, but it's not personal.
- Saudi is catching up in the global race for AI supremacy
- Saudi is catching up in the global race for AI supremacy.
AUTOMOTIVE
- Al Mansour Auto, SAIC’s USD 135 mn MG manufacturing plant to go live in 2026
- Gov’t imposes new personal car import rules to curb USD outflows + Car dealers to import USD 1.8 bn worth of cars next year
- Gov’t allocates plot for Al Mansour Automotive and SAIC’s MG assembly plant
- Gov’t to release 30k vehicles stuck at ports for those with disabilities
- Auto sales inch up in October after two months of decline
- Nissan Egypt to invest USD 45 mn in new locally assembled model
- Alkan, NATCO, and Zero Carbon plan major EV launches in 2025
- Al Mansour Automotive and China’s SAIC to build MG assembly plant
- El Nasr Auto and Al Safy Group form auto assembly JV with USD 40 mn in initial investments
- El Nasr Automotive back in gear after 15-year assembly pause
LEGISLATION WATCH
- UAE issues a law to regulate medical products and pharma operations
- UAE issues a law to regulate medical products and pharma operations.
- Sharjah proposes new law to tax natural resource companies
- Sharjah proposes new law to tax natural resource companies.
- New media permits office + gaming included under Dubai Media Council’s purview under new law
- New media permits office + gaming included under Dubai Media Council’s purview under new law.
- House pushes Criminal Procedures Law vote, approves host of energy exploration bills, and more in packed session
- House pushes Criminal Procedures Law vote, approves host of energy exploration bills, and more in packed session.
- Tunisia approves 2025 finance bill, includes support for green sector
- Tunisia approves 2025 finance bill, includes support for green sector.
HEALTH
Ears to the Ground
- For the football fanatics
- For the football fanatics.
- Your guide to global health status
- Your guide to global health.
- Audiobook or podcast?
- Audiobook or podcast?
- Simple ideas can solve complicated problems
- Simple ideas can solve complicated problems.
- How tech giants have shaped our lives
- How tech giants have shaped our lives.
BANKING
- UAE banks positioned for 7-8% growth in 2024-2025
- UAE banks positioned for 7-8% growth in 2024-2025.
- The Kingdom’s top ten listed banks turned in solid 3Q results
- The Kingdom’s top ten listed banks turned in solid 3Q results.
- Moody’s upgrades ratings for Saudi banks
- Moody’s upgrades ratings for Saudi banks, outlook stable.
- The UAE’s largest 10 banks raked in AED 20.3 bn worth of net income during 3Q
- UAE banks’ performance in 3Q 2024 indicate ample liquidity and continued growth -Kamco
- UAE banks’ performance in 3Q 2024 indicate ample liquidity and continued growth -Kamco.
- The UAE’s largest 10 banks raked in AED 20.3 bn worth of net income during 3Q.
A MESSAGE FROM HSBC
FOUNDER OF THE WEEK
- Meet our founder of the week: Dyne’s Amr Farid
- Meet our founder of the week: Dyne’s Amr Farid.
- Meet our founder of the week: Brown Nose’s Omar Abdalla
- Meet our Founder of the Week, Omar Abdalla.
- Meet our founder of the week: Tradeline’s Mohamed Medhat
- Meet our Founder of the Week, Mohamed Medhat.
- Meet our founder of the week: VOO’s Omar Abouzeid
- Meet our Founder of the Week, Omar Abouzeid.
- Meet our founders of the week: 2oolameme’s Sarah Abouelkhair and Abdelrahman Selim
- Meet our founders of the week: Sarah Abouelkhair and Abdelrahman Selim.
POLL
- CBE to keep rates unchanged on Thursday, analysts say
- CBE to keep rates unchanged on Thursday, analysts say.
- Analysts unanimously forecast that the Central Bank of Egypt will keep interest rates unchanged when it meets on Thursday
- Analysts unanimously forecast that the Central Bank of Egypt will keep interest rates unchanged when it meets on Thursday.
- CBE expected to keep rates unchanged when it meets on Thursday
- CBE expected to keep rates unchanged when it meets on Thursday.
- CBE expected to keep interest rates unchanged when it meets on Thursday
- CBE expected to keep interest rates unchanged when it meets on Thursday.
- CBE to hold rates steady on Thursday -Poll
- CBE seen holding rates steady on Thursday.
M&A WATCH
- Al Ahly Capital ups stake in Easy Lease to 97.6%
- Al Ahly Capital ups stake in Easy Lease to 97.6%.
- Budget Saudi subsidiary finalises acquisition of Overseas Development’s UAE arm
- Budget Saudi subsidiary acquires Overseas Development’s UAE arm.
- Ma’aden now owns 85% of the Wa’ad Al Shamal JV with Sabic
- Ma’aden now owns 85% of the Wa’ad AL Shamal JV with Sabic.
- Mubadala bags more healthcare firms + Mubadala-backed firm snaps up German real estate assets
- London ins. firm Nexus to acquire Dubai-based Arma Fusion
- London ins. firm Nexus to acquire Dubai-based Arma Fusion.
- Mubadala Investment Company acquires 80% stake in Global Medical Supply Chain and Al Ittihad Drug Store.
PASS THE CONTROLLER
At the Movies
- A dreamy love story considers the struggles of life and loss
- A dreamy love story considers the struggles of life and loss.
- The heart can love twice.
- The heart can love twice
- El Hareefa 2: The pitfall of a quick remontada
- El Hareefa 2: The pitfall of a quick remontada.
- Something Wicked this way comes
- Something Wicked this way comes.
- We need to talk about Hugh
- We need to talk about Hugh.
REAL ESTATE
- Dubai property sales to hit AED 520 bn in 2024 -W Capital
- Dubai property sales hit AED 520 bn in 2024 -W Capital.
- Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn
- Baan Holding inks two agreements to acquire real estate assets worth SAR 833 mn.
- Egypt targets USD 2 bn in proceeds from real estate export platform
- Egypt targets USD 2 bn in proceeds from real estate export platform.
- Commercial property market expected to outperform Hong Kong’s as demand for office space rises in 2025
- Commercial property market expected to outperform Hong Kong’s as demand for office space rises in 2025.
- KEC launches SAR 1 bn fund + inks agreement for two projects
- KEC launches SAR 1 bn fund + inks agreement for two projects.
A MESSAGE FROM VISA
- Access Tomorrow with Mounir Nakhla
- The power of data and generative AI and the importance of responsible data usage for financial institutions
- The next bn: Gen Z and the middle class driving CEMEA's growth
- Monetizing creativity in the creator economy
- Managing the booming subscription economy: how banks can adapt
- Unraveling the future of SME financing
- Visa Security Summit 2024
- Leading with purpose: Jeni Mundy’s blueprint for high-performing teams
- Empowering women-owned small businesses
- The future of digital payments, with Visa’s Andrew Torre
TOURISM
- Saudis are flying more this winter season
- Saudis are flying more this winter season.
- Saudi Arabia ranks third in global tourist growth for 9M 2024 compared to pre-covid figures
- Saudi Arabia ranks third in global tourist growth for 9M 2024.
- Saudi tourist arrivals in 7M 2024 beat pre-covid numbers
- Saudi tourist arrivals in 7M 2024 beat pre-covid numbers.
- Flight bookings from Saudi are on the rise this summer -Wego
- Flight bookings from Saudi are on the rise this summer -Wego.
- Saudi reels in SAR 255.6 bn from tourists in 2023
- Saudi reels in SAR 255.6 bn from tourists in 2023.
STARTUP WATCH-
TAX
- A look into the government’s new tax system
- A look into the government’s new tax system.
- Finance Ministry slaps multinationals with 15% top-up tax + proposes tax incentives for senior execs, R&D initiatives
- Finance Ministry slaps multinationals with 15% top-up tax + proposes tax incentives to CEOs, R&D initiatives.
- IMF’s METAC to provide Egypt statistical, technical support to state institutions under freshly inked agreement
- IMF’s METAC to provide Egypt statistical, technical support to state institutions under freshly inked agreement.
- Gov’t considers permanent property tax exemption for factories, residential tax reforms, and customs overhaul
- Gov’t considers permanent property tax exemption for factories, residential tax reforms, and customs overhaul.
- Finance ministry eases corporate tax compliance requirements
- Finance Ministry eases corporate tax compliance requirements.
Taxation
- New tax incentives seek to ease burdens for taxpayers, resolve disputes, and incorporate more taxpayers into the system.
- SMEs could pay the same amount of taxes for larger revenues following proposed SME act amendments.
- A temporary capital gains tax waiver is on the table following the deval
- A temporary capital gains tax waiver is on the table following the deval.
- E-invoicing registration deadline kicked back
TELECOMS
- Telecom operators hike mobile and internet prices
- Telecom operators hike mobile and internet prices.
- Mobily snags 15-year license for new spectrums
- Mobily snags 15-year license for new spectrums.
- Zain KSA secures license for 600 MHz spectrum to support 5G network
- Zain KSA secures license for 600 MHz spectrum to support 5G network.
- Three more telecom firms secure 5G service licenses
- UAE ranks 11th globally for e-government development, according to UN report
- UAE ranks fourth in Asia and 11th globally for e-government development.
- Saudi Arabia sixth globally in e-government ranking, UN report says
FX WATCH
- Banque Misr and NBE follow CIB in halving FX commissions and raising credit card limits
- Banque Misr and NBE follow CIB in halving FX commissions and raising credit card limits.
- FX to be made available to all importers starting May following planned central bank liquidity injection
- FX to be made available to all importers starting May following planned central bank liquidity injection.
- Foreign investors are loving Egypt post float
- Foreign investors have poured USD 3 bn into Egypt following the float.
- FX inflows, outflows inch closer to normalcy
- FX inflows, outflows inch closer to normalcy.
HOSPITALITY
- Hotel occupancy at 55.4% in 2Q with longer stays -Gastat
- Hotel occupancy at 55.4% in 2Q with longer stays -Gastat.
- Hilton to triple its presence in Egypt with 25 new hotels in the pipeline
- Hilton to triple its presence in Egypt with 25 new hotels in the pipeline.
- Naguib Sawiris to invest USD 150 mn in new hotel project near the Gixa Pyramids
- Naguib Sawiris to invest USD 150 mn in new hotel project near the Giza Pyramids.
- Alesayi Holding unveils SAR 2 bn Abraj Omar Hotel
- Alesayi Holding unveils SAR 2 bn Abraj Omar Hotel.
- Jaz Hotel Group to invest USD 215 mn to open six new hotels in 2025. PLUS: Pickalbatros expands hotel portfolio across Morocco
- Pickalbatros acquires four hotels in Morocco expansion.
HEALTHCARE
- Seven in 10 Saudis report excellent health -NHS survey
- Seven in 10 Saudis report excellent health -NHS survey.
- Three pharma projects worth SAR 926 mn announced at CPHI day two
- Three pharma projects worth SAR 926 mn announced at CPHI day two.
- Agreements worth SAR 10 bn signed during the first day of CPHI
- Agreements worth SAR 10 bn signed during the first day of CPHI.
- Vezeeta announces new innovation hub, Visa and Nymcard partnership, regional expansion plans
- Vezeeta announces new innovation hub, Visa and Nymcard partnership, regional expansion plans.
- Healthcare spending set to grow until 2028 amid rising demand
- Healthcare spending set to grow until 2028 amid rising demand.
BUDGET WATCH
- Ajman approves AED 3.7 bn budget for 2025
- Ajman approves AED 3.7 bn budget for 2025.
- Sharjah approves historic AED 42 bn budget for 2025
- Sharjah approves historic AED 42 bn budget for 2025.
- FNC approves bumper federal budget for 2025
- FNC approves bumper federal budget for 2025.
- Fuel subsidies up 232% in first quarter of FY 2024-25 despite price hikes
- Fuel subsidies up 232% in first quarter of FY 2024-25 despite price hikes.
- Dubai ruler approves record AED 272 bn budget for 2025-2027
- Dubai ruler approves record AED 272 bn budget for 2025-2027.
A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION
- AUC School of Business and Afreximbank join forces to boost African trade
- Igniting leadership potential: UN Women scholarships at AUC School of Business
- Empowering digital marketers: AUC School of Business Executive Education and Digital Marketing Institute's established certificate program
- Empowering future leaders: AUC School of Business joins forces with Beltone Holding
- Navigating new horizons: a modern career path beyond the degree
- AUC School of Business Executive Education advances leadership training with Telecom Egypt – WE collaboration
- Strategic partnership between ExecEd and Ezz Steel celebrates two decades of success
- From global financial crisis to Ras El Hekma: Egypt’s real estate sector remains resilient
- Stay relevant, stay ahead: the evolution of executive education
A MESSAGE FROM VODAFONE
- Vodafone Egypt unveils ongoing commitment to disability inclusion on International Day of People with Disabilities (PWDs)
- Strengthening Egypt’s telecommunications landscape: How our partnership with El Sewedy will boost local manufacturing
- Vodafone Egypt Foundation partners with Al Manfaz for the next phase of its Madraset Al Saada back-to-school initiative
- Fueling Egypt’s digital transformation: Vodafone’s strategic role in the BEBA mission
- Vodafone powers a digital healthcare revolution with cutting-edge solutions
- Vodafone Egypt awarded best mobile and fixed broadband network by umlaut
- Vodafone Egypt delivers stellar financial performance
- 25 years of growth, impact, and sharing special moments
TECH
- UK EV charging firm Gridserve’s founders launch ADGM-based decarbonization platform
- Businesses report improved business performance citing AI adoption
- Google unveils raft of initiatives to boost AI in the Middle East
- Event report: Final day of Gitex
- Event report: Day four of Gitex
- Event report: Day three of Gitex
- Khazna to build the UAE’s largest data center
- Event report: Day two of Gitex
- Microsoft plans first regional engineering development center in Abu Dhabi
- Global AI index sees Saudi AI industry leading Arab world
Climate
- COP16 drought talks end without agreement
- COP16 Climate pledges hit USD 12 bn in total
- COP16 climate pledges totalled USD 12 bn.
- COP29 negotiators want to grow climate financing 10x to USD 1 tn annually
- COP29 talks push for more climate financing from Saudi + other Gulf nations.
- Brookfield raises USD 2.4 bn for the UAE-backed Catalytic Transition Fund + TPG raises USD 1.25 bn, with backing from Alterra
- Brookfield raises USD 2.4 bn for the UAE-backed Catalytic Transition Fund.
- Aramco earmarks USD 100 mn for environmental R&D at KAUST
- Aramco earmarks USD 100 mn for environmental R&D at KAUST.
- Invasive species are multiplying thanks to climate change.
Construction
- The UAE's Construction Sentiment Index is up in 3Q
- The UAE's Construction Sentiment Index is up in 3Q.
- Mace to manage first phase of Dubai Exhibition Center’s AED 10 bn expansion
- Mace tapped to oversee AED 10 bn expansion of Dubai Exhibition Center.
- ADQ taps Modon Holding as Ras El Hekma master developer.
- Dubai Exhibition Center to get major upgrade
- Dubai launches AED 10 bn expansion plan for Dubai Exhibition Centre.
- Talaat Moustafa Group readies for Iraq expansion.
- Initial civil work and villa construction for Palm Jebel Ali to kick off in 1Q 2025
- Initial civil work and villa construction for Palm Jebel Ali to kick off in 1Q 2025.
Development finance
- ADFD ups Maldives airport development funding.
- ADFD expands its funding of Velana airport’s development by AED 147 mn
- EBRD mulling USD 200 mn loan for Acwa + Hassan Allam Utilities’ Egypt wind farm
- EBRD mulling USD 200 mn loan for Acwa + Hassan Allam Utilities’ Egypt wind farm.
- Abu Dhabi development fund has spent a cumulative AED 216 bn in development funds as of 2023.
- ATRC launches USD 200 mn fund for global tech advancement in developing nations
- Abu Dhabi’s ATRC launches USD 200 mn fund for global tech advancement in developing nations.
E-commerce
- The Kingdom’s e-commerce industry logs gains in 2023
- The Kingdom’s e-commerce industry logs gains in 2023.
- A USD 15 bn food delivery market by 2028?
- The Kingdom’s food delivery market is forecast to be worth nearly USD 15 bn by 2028.
- Online shopping in Saudi has seen “staggering” growth since pandemic
- Online shopping in Saudi has seen “staggering” growth since covid-19.
- No-cost shipping, fast websites optimum way to lure young Saudi, UAE shoppers
- No-cost shipping, fast websites optimum way to lure young Saudi, UAE shoppers.
- Egypt’s Bosta and Valu team up on buy-now, pay-later solutions
- Egypt’s Bosta and Valu team up on buy-now, pay-later solutions.
Finance
- SVC backs Jadwa Investment’s SAR 2 bn PE fund
- SVC backs Jadwa Investment’s SAR 2 bn PE fund.
- FAB raises USD 200 mn from fixed maturity portfolio
- FAB raises USD 200 mn from fixed maturity portfolio.
- Magellan Capital to launch USD 700 mn hedge fund
- Magellan Capital to launch USD 700 mn hedge fund next month.
- BNPL use continues to pick up in Saudi, UAE
- One in five consumers in Saudi, UAE used a BNPL service last year, study shows.
- Dubai asset manager KHK & Partners spins off new capital raising arm, eyeing global asset managers
- Dubai asset manager KHK & Partners spins off new capital raising arm, eyeing global asset managers.
Food
Hospitality + tourism
Mining
- Manara’s stake acquisition in Reko Diq mining project gets Pakistani cabinet approval
- Manara’s stake acquisition in Reko Diq mining project gets Pakistani cabinet approval.
- Manara’s stake acquisition in Reko Diq mining project gets Pakistani cabinet approval
- Manara’s stake acquisition in Reko Diq project gets Pakistani cabinet approval.
- Six mining licenses awarded
- Industry Ministry awards six mining licenses.
- Saudi awards mining licenses
- Saudi awards 11 exploration licenses for six sites.
- WMZ contracts Sinosteel for Algerian zinc project
- WMZ contracts Sinosteel for Algerian zinc project.
Private equity
- Jadwa Investment reaches SAR 1 bn first close for new GCC PE fund
- Jadwa Investment raises SAR 1 bn for new GCC PE fund.
- BlackRock expands into Abu Dhabi with a new commercial license
- BlackRock expands into Abu Dhabi with a new commercial license.
- PIF’s Jada backs TVM’s USD 250 mn Saudi healthcare fund
- PIF’s Jada backs TVM’s USD 250 mn Saudi healthcare fund.
- Hassana writes USD 1.5 bn ticket to a TPG climate fund
- Saudi Great Futures wraps with “landmark commitment” for more Saudi-UK trade.
- Saudi’s private equity hits the jackpot with record growth
- Private equity activity in the Kingdom hit a record USD 4 bn in 2023.
Sustainability
Trade & Logistics
- AD Ports + CMA CGM launch new container terminal at Abu Dhabi’s Khalifa Port
- AD Ports + CMA CGM launch new container terminal at Abu Dhabi’s Khalifa Port.
- UAE + Jordan to build USD 2.3 bn railway.
- DP World’s port development in Congo gets a boost from BII.
- UAE ranks among top emerging markets globally -Agility
- UAE remains among top three attractive EM, Agility says.
- Shippers may turn to new trade corridor running through the heart of the Middle East.
- Shippers may turn to new trade corridor running through the heart of the Middle East
- Kezad to deliver AED 621 mn worth of new warehouse space by 2025
- Kezad to deliver AED 621 mn worth of new warehouse space by 2025.
Coffee With
- HSBC’s Ali Taqi on how Egyptian companies are faring in the battle for regional business — and what foreign investors here are thinking now.
- Abdallah Al Dardari, UN assistant secretary-general and UNDP regional director for Arab states.
- Martin Horgan, CEO of Centamin.
- Matteo Patrone, VP of banking at the EBRD.
- Algebra Ventures’ Karim Hussein on how local startups have handled economic headwinds.
- EFG Hermes’ Shams El Din on the role of the private sector in turning Egypt’s economy around.
- Sherif El Zayat leaves EK Holding.
- A sit down with CEO of Standard Chartered Egypt.
M&A
Investment ministry
LOGISTICS
- A snapshot of the domestic logistics sector in 2023
- The domestic logistics sector surges in 2023.
- AD Ports taps Hassan Allam Construction for Safaga terminal infrastructure
- AD Ports taps Hassan Allam Construction for Safaga terminal infrastructure.
- Alsulaiman’s Flow + Bahrain’s Arcapita to develop logistics complex in Riyadh
- Bahrain’s Arcapita + Flow to develop a new logistics complex in Riyadh.
- El Wehda and state entity form JV to build region’s first large-scale shipbreaking yard.
- Ardco + Agility Logistics partner on new SAR 227 mn Riyadh logistics complex
- Ardco + Agility partner on new SAR 227 mn logistics complex.
- Italy-bound shipment times cut by more than half thanks to newly launched ro-ro line
PRIVITISATION WATCH
DRINK THIS TODAY
RED SEA WATCH
- Houthi strike on tanker carrying Russian fuel puts further pressure on the Egyptian economy
- Houthis strike fuel tanker.
- Shipping giants divert more Red Sea routes and seek overland alternatives
- Shipping giants divert more Red Sea routes and seek overland alternatives.
- US, UK mull intensifying attacks on Houthis
- US, UK look for ways to step up campaign against Houthis.
- Global manufacturers look to air freight amid attacks in the Red Sea in another blow to shipping
- Global manufacturers look to air freight amid attacks in the Red Sea in another blow to shipping.
- More companies pause Red Sea traffic after another Houthi attack
- More companies pause Red Sea traffic after another Houthi attack.
Office life
- New work trends: Friend or foe?
- Gen Z is pushing traditional work ideals to the side
- Gen Z is pushing traditional work ideals to the side.
- Do you love your job, or are you losing yourself to it?
- Do you love your job or are you just a workaholic?
- Why employees are turning to AI for help (without telling their bosses)
- Why no one wants to admit to using AI at work.
- What art says about our workplace realities
- Art’s depiction of how we work.
The Big Stories Since Yesterday
At the Bookstore
This Week in 3 Minutes
- United Bank suitors QIB + KFH complete due diligence.
- The Ras El Hekma investment by ADQ has the newswire on fire.
- Curtain closes on bidding for Wataniya.
- We’re still waiting for signs that we’re getting an IMF agreement + The Ras El Hekma saga clears up.
- US, Uk launch strikes Houthis targets in Yemen.
- New credit card limits.
SIGN OF THE TIMES
- Saudi model Rumy Alqahtani will be competing on the Miss Universe pageant stage.
- EY bosses really want to know who’s coming to the office and who’s not.
- The Madbouly government is getting behind local industry in bid to drum up FX
- The Madbouly government is getting behind local industry in bid to drum up FX.
RETAIL
- Carrefour partners with Apparel group for India reentry
- Carrefour partners with Apparel group for India reentry.
- Consumers in the UAE want quality, convenience, and big household names
- Saudi consumers want quality, convenience, and big household names
- Saudi consumers want quality, convenience, and big household names.
- Retailers feel the pinch as Riyadh rents rise
- Retailers feel the pinch as Riyadh rents rise.
- Spinneys is coming to Saudi this year, aims to open at least four new stores every year
- Spinneys is coming to Saudi this year, aims to open at least four new stores every year.
- Cenomi Retail to divest up to 18 more brands this year
FINANCIAL SERVICES
- Flend secures Egypt’s first digital NBFI license for SME finance
- Flend secures Egypt’s first digital NBFI license for SME finance.
- Beltone Leasing and Factoring inks EGP 350 mn agreement with SEKEM
- Saudi’s ins. sector set for 10%-15% revenue growth in 2025 - S&P Global
- Saudi’s ins. sector set for 10%-15% revenue growth in 2025 - S&P Global.
- Beltone Capital and Italy’s CRIF Ratings form JV to launch the country’s second credit rating agency
- Beltone Capital and Italy’s CRIF Ratings form JV to launch the country’s second credit rating agency.
- Investment funds' AUM surge 30% y-o-y in 3Q.
- GlobalCorp to increase issued and paid-in capital to fuel service portfolio expansion
- GlobalCorp to increase issued and paid-in capital to fuel service portfolio expansion.
SOCIAL MEDIA
Listen to This
- Are great ideas often practical?
- Sometimes it can be a curse to go viral.
- Get your dose of gabagool with Imperioli + Schirripa.
- Imagine the lives your favorite movie characters had after the credits rolled.
- Find the better version of yourself with the Tony Robbins podcast.
- Die-hard The Office fans will relish this podcast.
- A local female-focused Egyptian podcast.
- Science and Nutrition will give you the lowdown on how to eat and live better.
This Week in Review
Coffee with…
- Coffee with: Maan Said, CEO of Crysp Farms
- Coffee With: Medea Nocentini, GV Senior Partner and C3 Founder
- GV Senior Partner + C3 Founder Medea Nocentini delves into the sustainable VC landscape.
- HSBC’s Ali Taqi on how Egyptian companies are faring in the battle for regional business — and what foreign investors here are thinking now
- What's in store for debt markets in the region heading into the new year
- On debt issuances in the region in the final quarter of 2024 + heading into 2025.
- GCC markets had a great year – what will come next?
- How markets fared amid geopolitical headwinds this year, according to Mashreq’s Hassan Orooj.
- Mashreq’s Norman Tambach on how he locked in the lowest coupon rate by a bank on an AT1 issuance in three years
- Mashreq’s Norman Tambach on how he locked in the lowest coupon rate by a bank on an AT1 issuance in three years.
LEGAL
Last Night’s Talk Show
PSYCHOLOGY
Hot and Fresh Out the Kitchen
MARKETING
STARTUPS
The Week in 3 Minutes
MARKET WATCH
DEVELOPMENT FINANCE
- Egypt to see EUR 77 mn from Germany
- IFC commits USD 300 mn to sustainability bond issuance, USD 155 mn in green financing to Orascom Development, USD 150 mn to the CIB for SME on-lending
- EBRD mulling USD 200 mn loan for Hassan Allam Utilities and ACWA Power’s 1.1 GW Gulf of Suez wind farm
- Egypt is in line for funds from the Green Climate Fund
- Egypt set to receive USD 129 mn from USAID
- Fresh funds from the EU, EIB, Germany, EBRD
- Gov’t inks eight USAID grants totalling USD 130 mn
- EBRD provided NBE with USD 119.5 mn in financing for MSMEs
- IFC pledges USD 50 mn to support mid-cap companies in Africa
- A recap of day two of IFC regional VP’s visit: Fresh financing, advisory service agreements and privatization chatter
The Big Story at Home and Abroad
Portfolio Investors Are Coming Back
Importers Can Start Breathing
Of Rates, CDs, and Credit Cards
Where do Things Stand With the IMF?
The New “New Normal”
Last Week in 3 Minutes
- Fitch sees Egypt’s economy growing 5.1% next fiscal year.
- Inflation drops to lowest point in nearly two years.
- Non-oil private sector activity contracts for the third consecutive month in November.
- United Bank’s IPO is in full swing.
- Climate talks in disarray.
- United Bank IPO could raise up to EGP 5.1 bn.
- A shot at tax system simplification.
- Egypt, UAE will lay foundation stone for Ras El Hekma project today.
- More than 550 leaders of our community joined us for the 2024 EnterpriseAM Finance Forum.
- Gov’t in talks for new USD 10-15 bn of Saudi investments.
What’s Happening Next Week
FINANCE
- New Visa report highlights crucial financial trends for Egypt’s SMEs
- Jordanian SME lender liwwa is looking to set up shop in Egypt
- Gov’t greenlights EGP 120 bn subsidized loan program to support industry and agriculture
- EFG Holding plans to expand its KSA team by one-third this year
- EFG Finance is launching a new subsidiary to finance SMEs
Development Finance
- Egypt to see EUR 77 mn from Germany.
- IFC to provide Orascom Development with USD 155 mn in green financing for El Gouna hotels.
- IFC commits the lion’s share to AAIB's USD 500 mn sustainability bond issuance.
- EBRD mulling USD 200 mn loan for Hassan Allam Utilities and ACWA Power’s 1.1 GW Gulf of Suez wind farm.
- Egypt is in line for funds from the Green Climate Fund.
- Egypt set to receive USD 129 mn from USAID.
- Egypt is in line for fresh funds from the EU, EIB, Germany, EBRD.
- Gov’t inks eight USAID grants totalling USD 130 mn.
- EBRD provided NBE with USD 119.5 mn in financing for MSMEs.
- IFC pledges USD 50 mn to support mid-cap companies in Africa.
Regulation
- New rules aim to make it easier for gov’t officials to put overseas contracts to tender.
- More details on the witnesses and whistleblowers protection law
- New rules on ride hailing and other fare-based transport services went into effect yesterday.
- Saudi Tourism Authority gets clear mandate to lead on promotion, working with private sector, developing investment policy
- Tax incentives for companies relocating HQs here come into force
- New rules on how individuals can jointly develop real estate
- New rules on how individuals can jointly develop real estate.
- Tax incentives for companies relocating HQs here come into force.
- Mawani launches consultations on rules for how it works with tenants and investors
- Sharper teeth for building code violations
POLICY
- Finance, investment ministries working on incentive package in the next budget to boost manufacturing and exports
- The lowdown on the government’s new Entrepreneurship Ministerial Committee
- The lowdown on the government’s new Entrepreneurship Ministerial Committee.
- Government to unveil revamped privatization program before December
- Government to unveil revamped privatization program before December.
- Madbouly assures readiness in case of regional escalation during weekly presser
- Madbouly assures readiness in case of regional escalation during weekly presser.
- Gov't unveils the first part of a wider package of tax facilities
- Our first look at the new export subsidy program.
- 0.25% healthcare tax to be calculated on net income instead of revenues.
TRADE
- QatarEnergy + India’s Gail ink LNG supply agreement
- QatarEnergy + India’s Gail ink LNG supply agreement.
- The Gulf playbook for tackling global supply chain challenges
- Egypt to lease second LNG floating regasification unit starting 2H 2025
- Adnoc + Petronas finalize 15-year SPA for 1 mn tonnes of LNG
- Adnoc + Petronas finalize 15-year SPA for 1 mn tonnes of LNG.
- Egypt to lease second LNG floating regasification unit in 2H 2025.
- Abu Dhabi’s non-oil trade surplus widens to AED 7.8 bn in 3Q 2024
- Abu Dhabi’s non-oil trade surplus widens to AED 7.8 bn in 3Q 2024.
- QatarEnergy inks long term LNG supply purchase agreement with Shell
Public policy
- New pension system comes into effect, pushing up retirement age for most
- New pension system comes into effect, pushing up retirement age for most.
- New rules regulating gov’t communication at home and abroad
- New rules will regulate how gov’t communicates at home and abroad.
- Al Jadaan on reform, taxation, and the outlook for oil
- Al Jadaan on reform, taxation, and the outlook for oil.
On the Tube
- Netflix has a new real estate tenant in Manhattan.
- Dina El Sherbiny and Eyad Nassar’s take on a Japanese series should be your next binge-watch.
- Bridgerton’s much-awaited new season is a mixed bag.
- A true-crime podcaster seeks to solve a mystery of his own.
- Let this documentary help you hack your health.
MONETARY POLICY
most of the time
REGULATION WATCH
- Abu Dhabi to require carbon reporting for big emitters as of 2026
- Abu Dhabi puts a domestic carbon pricing scheme in motion.
- Abu Dhabi to require carbon reporting for big emitters as of 2026
- Abu Dhabi to require carbon reporting for big emitters as of 2026.
- DIFC’s regulator tightens guidelines for risk management
- DIFC’s regulator tightens guidelines for risk management.
- Want to import a car yourself? Zatca’s got a system for you.
- Want to import your own vehicle? Zatca’s new system will let you bring one in every three years.
- FSRA issues stablecoin framework
- FSRA issues stablecoin framework.
SCIENCE
BUSINESS
- Saudi businesses reel in SAR 5.3 tn in 2023 operating revenue
- Saudi businesses reel in SAR 5.3 tn in 2023 operating revenue.
- ADFW sees more digital asset players expand into ADGM
- ADFW sees more digital asset players expand into ADGM.
- A dive into the IR scene in the Kingdom
- Saudi entrepreneurs are all about digitization
- ADGM attracts swathes of investors and asset managers during ADFW
- ADGM attracts swathes of investors and asset managers during ADFW.
- Abu Dhabi to get centralized business registry + family business council
- Abu Dhabi to get centralized business registry + family business council.
A MESSAGE FROM BCG
INDUSTRY
- Challenges mount on Egyptian industries amid power cuts and gas shortages
- Power cuts and gas shortages compound Egypt’s industry woes.
- New manufacturing licenses up 24.5% m-o-m in January 2024
- Some 152 industrial licenses were issued in January 2024.
- Industrial licenses up 54.4% in December
- Expect a big week for defense industry news
- Expect a big week for defense industry news.
DISPUTE WATCH
- Bildco settles debt with Ajman Bank
- Bildco settles debt with Ajman Bank.
- Dubai Aerospace Enterprise receives USD 201 mn in settlements from ins. companies
- Dubai Aerospace Enterprise receives USD 201 mn in settlements from ins. Companies.
- Dubai Aerospace Enterprise receives USD 201 mn in settlements from ins. companies
- Dubai Aerospace Enterprise receives USD 201 mn in settlements from ins. Companies.
- Taqa Bratani, Spirit Energy lose UK court case against Viaro CEO over asset dispute
- Taqa Bratani, Spirit Energy lose UK court case against Viaro CEO over asset dispute.
- Manchester City sits trial for 115 charges of financial misconduct
- Manchester City sits trial for 115 charges of financial misconduct.
MANUFACTURING-
SOCIAL WELFARE
CONSTRUCTION
Last Night’s Talkshows
COMPETITION WATCH
Enterprise explains
- How do US tariffs on China affect the global green transition?
- How do US tariffs on China affect the global green transition?
- Everything you need to know about the new Champions League format
- Everything you need to know about the new Champions League format.
- Where prices are heading in Dubai’s red-hot property market, the future of demand in Dubai South, and more
- Where prices are heading in Dubai’s red-hot property market, the future of demand in Dubai South, and more.
- Enterprise Explains: BRICS members are pursuing de-dollarization mechanisms — is it possible?
- BRICS members are pursuing de-dollarization mechanisms — is it possible?
- Enterprise Explains: How will autonomous technology impact the global shipping industry?
- How will autonomous technology impact the global shipping industry?
A MESSAGE FROM AIMS INTERNATIONAL EGYPT
again
PAYMENTS
KEY ACCOUNTS
INTERNATIONAL COOPERATION
PARENTING
EXPANSION
A MESSAGE FROM AUC SCHOOL OF BUSINESS
CLIMATE FINANCE
- What is the Sustainable Debt Coalition doing to bridge the climate finance gap?
- What is the Sustainable Debt Coalition doing to bridge the climate finance gap?
- Acwa Power inks USD 1.8 bn of financing + renewables agreements at FII
- Acwa Power inks USD 1.8 bn of financing + renewables agreements.
- Brookfield raises USD 2.4 bn for the UAE-backed Catalytic Transition Fund
- Brookfield raises USD 2.4 bn for the UAE-backed Catalytic Transition Fund.
- Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund
- Canada’s Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund.
Earning Watch
SPENDING IT
AGRICULTURE
A MESSAGE FROM SIXT EGYPT
LIFE & ARTS
DIGITALIZATION
Digitization
PRIVITIZATION WATCH
Financial Markets
YEAR IN REVIEW — MACRO
YEAR IN REVIEW — TOURISM
YEAR IN REVIEW — EXPANSION
Year In Review: Expansion
Year In Review: Tourism
Year In Review: Macro
YEAR IN REVIEW - INVESTMENTS
YEAR IN REVIEW - CAPITAL MARKETS
YEAR IN REVIEW - M&A
Suez Canal
What’s Next
- Faced with FX spending limits, startups are struggling to keep up with expense requirements.
- How can Egypt’s StartupLand pitch itself to global investors amidst the VC slowdown?
- How B2B e-commerce players are handling working capital pressures + the VC funding squeeze: Part II.
- VC funding for Egyptian startups is drying up.
- What’s next for F&B in Egypt?
- Has the down round era arrived on our shores?
- What’s in store for Nigeria’s startup ecosystem — and how can Egyptian startups expand there?
What We’re Tracking Today
- It’s PMI day.
- Former prime minister Sherif Ismail passes away, age 67.
- It’s PMI day.
- Madbouly to announce privatization plans this week.
- The House has a full slate lined up this week.
- IMF + World Bank fall meetings are this week — and is Maait readying investment incentives?
- Egypt to bid for 2036 Olympics.
- Lots of climate events are happening this week.
- Next fiscal year’s budget and development plan are up for debate in the House starting today.
- KSA Crown Prince Mohammed bin Salman is paying us a visit as the region gears up for Biden’s Saudi visit.
What’s Next
- Why — and how — do Egyptian startups incorporate offshore?
- StartupLand is bracing for another wild ride in 2023 — but the bulls aren’t spooked.
- A year of reckoning for Planet Startup.
- The case for search funds in Egypt.
- Enterprise Explains: What are search funds?
- Modus Capital explains the strategy behind its latest Egyptian venture builder and Africa-wide VC fund.
- Enterprise talks to Biola Alabi, Cairo Angels Syndicate Fund’s African Venture Partner.
- Our deep dive into the local deep tech sector.
- Sara Enan writes: What we can learn from the Capiter saga.
- “Femtech” is picking up in Egypt.
NON-BANKING FINANCIAL SERVICES
CEO POLL
- Apex’s Tom Maher on why industries with a competitive advantage and added value should be our priority
- Apex’s Tom Maher on why industries with a competitive advantage and added value should be our priority.
- Actis’ Sherif El Kholy on the export industries we should focus on right now, and down the line
- Actis’ Sherif El Kholy on the export industries we should focus on right now, and further down the line.
- Why GSK’s Mohamed El Dababy thinks exports and FDI are the way forward
- GSK’s Mohamed El Dababy kicks off our poll of top execs on why exports and FDI are the way forward.
GREEN ENERGY
- Germany’s 2G Energy in talks to invest in Egypt’s green energy sector
- Germany’s 2G Energy in talks to invest in Egypt’s green energy sector.
- UAE commits to cut carbon emissions by 47% by 2035
- NDCs updated ahead of COP29.
- Abu Dhabi is getting a renewable energy industrial complex
- Abu Dhabi is getting a renewable energy industrial complex.
- TAQA Arabia launches 20 MW solar plant in Sharm El Sheikh
- TAQA Arabia launches Sharm’s biggest solar plant ahead of COP.
Last Night’s Talk Shows
FOREIGN EXCHANGE
INFRASTRUCTURE WATCH
What We’re Tracking
- Egypt’s Enara is planning an EGX and a GCC listing in 2025, CEO says.
- Egypt’s Enara is planning an EGX and a GCC listing in 2025, CEO says.
- Is it officially time to worry about monkeypox? The WHO thinks so.
- Russian FM Sergey Lavrov is visiting Cairo today.
- Egypt, the UAE and Jordan are discussing their new industrial partnership in Cairo today.
- Madbouly in Abu Dhabi to woo FDI, sign industrial partnership with Emirates and Jordan.
- Emerging market bonds have had their worst start to a year in 3 decades.
DIVESTMENT WATCH
Earnings
PARLIAMENT WATCH
ENTERPRISE ON THE ROAD
GREEN ECONOMY
Green Economy
TRENDING
- A good day to be an Al Ain fan
- All fun and games
- Sheikh Hamdan, WTO, gov’t games and IHC
- All about Sharjah
- Fifa boss Gianni Infantino is in town
- Sports and airports
- On the ball
- The FIFA beach soccer World Cup kicks off in Dubai
- World government summit updates on X
- Hailstones and heavy rain populate UAE X
CRYPTO
- Realize rolls out tokenized US Treasuries fund
- Realize rolls out tokenized US Treasuries fund.
- AED-pegged stablecoin is one step closer to becoming real
- CBUAE grants in-principle approval for AE Coin, UAE's first regulated stablecoin.
- Bybit launches world’s first Islamic crypto trading platform
- Bybit launches world’s first Islamic crypto trading services.
- Crypto investors can soon withdraw and deposit AED, USD, and EUR on Crypto.com
- Crypto investors can soon withdraw and deposit AED, USD, and EUR on Crypto.com.
- Phoenix Group and Tether to launch AED-pegged stablecoin
- Crypto options desk QCP receives in-principle approval to operate in Abu Dhabi
ON YOUR WAY OUT
- Researchers use freshwater algae to create sustainable plastic
- Researchers use freshwater algae to create sustainable plastic.
- Top spots to celebrate New Year’s eve in Saudi Arabia
- Top spots to celebrate New Year’s eve in Saudi Arabia.
- Your go-to guide for a festive dinner in Riyadh
- Your go-to guide for a festive dinner in Riyadh.
- Researchers develop a new way to cool hydrogen
- Researchers develop a new way to cool hydrogen.
- From chimpanzees to mobile heart clinics, here are DHL’s most unusual 2024 deliveries
- From chimpanzees to mobile heart clinics, here are DHL’s most unusual 2024 deliveries.
Happening Today
INSURANCE
Whispers
Plant Finance
INS.
- Profitability in the UAE ins. sector was up 28% y-o-y in 2023
- Are UAE ins. providers under pressure due to storm-inflicted damages? The jury’s out
- Ratings agencies weigh in on the impact of the storm on UAE insurers.
- CBUAE launches region’s first ombudsman unit.
- CBUAE launches region’s first ombudsman unit
DEVELOPMENT FINANCING
DISPUTE WATCH-
Privatization Watch
AVIATION
- Morocco to invest USD 2.5 bn in Casablanca Airport
- Morocco to invest USD 2.5 bn in Casablanca Airport.
- Riyadh’s King Khalid Int’l Airport leads GACA rankings in November
- King Khalid Int’l Airport leads GACA rankings in November.
- Matarat issues RFP for the New Abha Int’l Airport
- Nordic Electrofuel to develop an e-SAF plant in the Kingdom
- Nordic Electrofuel to develop an e-SAF plant in the Kingdom.
- Matarat issues RFP for the New Abha Int’l Airport.
- Trelleborg breaks ground on new aerospace components plant in Morocco
- Trelleborg breaks ground on new aerospace components plant in Morocco.
TRADE + LOGISTICS
A MESSAGE FROM MASHREQ
- Beyond Banking: How Mashreq’s BaaS Is Shaping the Digital Financial Future
- Revolutionizing transaction banking: Mashreq’s digital journey
- Redefining the role of people in business success
- Navigating the complex terrain of Islamic banking: challenges, growth, and digital disruption
- Reimagining bank branches: catalysts for the UAE's entrepreneurial revolution
- Establishing new avenues of fundraising through innovative structures
- Revolutionizing private banking: how tech-savvy clients are driving the future
- A new era in SME lending: embracing alternative data
RENEWABLES
- Alcazar could set up a 3.1 GW hybrid renewable energy station in Egypt
- UAE’s Alcazar to set up a 3.1 GW hybrid renewable energy station in Zafarana
- Ewec bags approval for 4.5 GW solar projects + 140 MW wind project
- Ewec bags approval for 4.5 GW solar projects + 140 MW wind project.
- Infinity Power awarded 1.28 GW worth of renewable projects in South Africa
- Infinity Power awarded 1.28 GW worth of renewable projects in South Africa.
- Acwa Power breaks ground on five Uzbek ventures
- Acwa Power breaks ground on five Uzbek ventures.
- Acwa Power moves forward with Uzbekistan renewable projects
- Acwa Power moves forward with Uzbekistan renewable projects.
SPACE
- Space42 extends new AED 18.7 bn contract with gov’t for satellite communication services
- Space42 extends new AED 18.7 bn contract with gov’t for satellite communication services.
- Cabinet greenlights national council to regulate the space sector
- IHC-backed Marlan sets up Middle East’s first mass satellite manufacturer with Loft Orbital
- IHC-backed Marlan sets up Middle East’s first mass satellite manufacturer with Loft Orbital.
INVESTMENT WATCH-
gains
Petrochemicals
- Sipchem awards EPC contracts worth USD 169 mn for expansion of a chemical plant
- Sipchem awards EPC contracts worth USD 169 mn for expansion of a chemical plant.
- Sabic to boost its footprint in China with new advanced plastics facility
- Sabic to boost its footprint in China with new advanced plastics facility.
- Sabic, Fujian Energy Petrochemical JV break ground on world-scale petrochem complex in China
- Sabic, Fujian Energy Petrochemical JV break ground on world-scale petrochem complex in China.
- Units of Sinopec, Tecnicas Reunidas land USD 3.3 bn Aramco contract
- Units of Sinopec, Tecnicas Reunidas land USD 3.3 bn Aramco contract.
- Sabic reaches FID for China petrochem complex
- Sabic reaches final investment decision for USD 6.4 bn China petrochem complex.
OIL WATCH
- Brent prices staying steady despite supply deficit + geopolitical risks, Goldman says
- Goldman Sachs forecasts steady Brent prices despite supply deficit + geopolitical risks.
- Opec+ revises down outlook for oil consumption growth this year + the next
- Opec+ revises down outlook for oil consumption growth this year + the next.
- Saudi could hike crude prices for Asian buyers in June.
- Saipem forecasts low impact from suspension of Aramco oil drilling contracts.
- Will Opec start phasing out production cuts in the second half of this year?
- Pundits on the outlook for oil amid Israel-Iran tensions.
- OPEC forecasts robust oil demand this summer.
- Aramco hikes the OSP of its flagship Arab Light crude oil to Asian buyers in May.
SAUDI IN THE NEWS
- Saudi-born suspect in Magdeburg incident charged with murder
- Saudi-born suspect in the Magdeburg incident has been charged with murder.
- It’s a mixed bag for the Kingdom in the int’l press
- Jeddah’s Red Sea Film Festival is making the rounds in the int’l press
- The Crown Prince met with Trump’s Middle East envoy?
- Saudi defends its role in climate negotiations
- Saudi’s ties with China + 2034 World Cup get ink
- Of plastic and politics
- It’s a mixed bag for Saudi in the int’l press
- Saudi + Russia block amendment to phase out fossil fuels in UN Climate Change Resolution
PIF WATCH
- PIF to invest USD 500 mn in financial services outfit Hong Kong Chaoshang Group.
- PIF swings to profitability in 2023 as revenues more than double -report
- PIF swings to profitability in 2023 as revenues more than double -report.
- PIF closes in on Holon acquisition after getting nod from regulator.
- PIF’s mobility investment arm buys into Croatia-based Project 3 Mobility + eyes Recogni, Holon
- PIF’s mobility investment arm buys into Croatia-based Project 3 Mobility + eyes Recogni, Holon.
- PIF eyeing Starbucks Mideast, Roma + USD 1 bn Chinese VC fund
- PIF eyeing Starbucks Mideast, Roma + USD 1 bn Chinese VC fund.
- PIF sits atop the SWF league table for 2023, with fresh investments of USD 31.6 bn
- PIF sits atop the SWF league table for 2023, with fresh investments of USD 31.6 bn.
Watch This Space
- Medgulf hires HSBC Saudi Arabia to advise on potential merger with Buruj Ins.
- Qatar is making an AI play with Nvidia.
- Folks in five Riyadh neighborhoods can now register their real estate.
- Closing in on an electricity grid connection with Egypt.
- Second national flag carrier Riyadh Air could take to the skies in mid-2025.
- Ajlan & Bros Holding Group eyes investments of >USD 1 bn in Chinese petchems, renewables, and tech.
- Global advisory firm Rothschild will be setting up shop in Riyadh.
- Still mulling Brics membership, Alibrahim says.
- Is Aramco about to award USD 4-5 bn worh of EPC contracts for Safaniyah?
MINERALS
- Royal Road Minerals receives Morocco mining project permits
- Saudi-backed Royal Road Minerals secures another copper-gold site in Morocco.
- Aussie battery player EVM lines up US private equity investment for Yanbu lithium chemicals plant
- Energy transition minerals in spotlight as Riwaq inks JV with UK’s Power Metals to explore Arabian Shield
- Energy transition minerals in spotlight as Riwaq inks JV with UK’s Power Metals to explore Arabian Shield.
- Metso and EV Metals to build lithium plant in Yanbu
- EV Metals partners with Finland’s Metso on a lithium plant in KSA
- EV Metals partners with Finland’s Metso on a lithium plant in KSA.
- KSA signs spate of mining agreements worth USD 20 bn + launches USD 182 mn mineral exploration incentive program.
- KSA signs spate of mining agreements worth USD 20 bn + launches USD 182 mn mineral exploration incentive program
Labor Relations
DAVOS WATCH
ISLAMIC FINANCE
JUDICIARY
THURSDAY KUDOS
- AlUla, Kafd, and Saudi mathletes are in the spotlight
- A round of applause for Saudia Group and Flynas
- PIF takes lead as most valuable sovereign wealth fund brand
- Cenomi’s Rehill makes Forbes real estate list + Saudi asset managers dominate ranking
- Cenomi’s Rehill makes Forbes real estate list + Saudi asset managers dominate ranking.
- A round of applause for Mawani and PIF’s Roshn
- Awards for Mawani + Bahri + Accumed
DESALINATION
- Taqa Arabia + Somabay launch their solar-powered desalination plant
- Spain’s GS Inima starts operations of at Barka V desalination plant
- Spain’s GS Inima starts operations of its Barka V desalination plant in Oman
- Ewec receives four bids for Saadiyat Island SWRO desalination project
- Ewec receives four bids for Saadiyat Island SWRO desalination project.
- Morocco begins constructing Africa’s largest desalination plant
- Morocco begins constructing Africa’s largest desalination plant.
- Veolia subsidiary secures water tech contract for Hassyan desalination plant
- Oman’s Nama signs PPA agreement for the sultanate’s largest desal plant
- Oman’s Nama signs PPA agreement for the sultanate’s largest desal plant.
DEFENSE
- Modon lines up investors for projects worth up to SAR 130 mn
- Modon lines up investors for projects worth up to SAR 130 mn.
- It’s a wrap at the World Defense Show
- Sami and friends ink still more agreements at World Defense Show
- Sami and friends ink still more agreements at World Defense Show.
- More from the World Defense Show
- All the best toys from Lockheed, Airbus, and even Boeing
- All the best toys from Lockheed, Airbus, and even Boeing.
SOLAR
- Tunisia awards solar plants with a total capacity of 500 MW
- Sembcorp’s Manah 2 solar project is set to launch early
- Sembcorp’s Manah 2 solar project is set to launch early.
- Tunisia awards solar developments with a total capacity of 500 MW.
- Egypt and Sweden’s Sunshine Pro to build a solar panel production line
- Egypt and Sweden’s Sunshine Pro to build a solar panel production line.
- Trinasolar to supply BESS solutions for Amea’s Adydos solar plant
- Trinasolar to supply BESS solutions for Amea’s Adydos solar plant.
- Korra Energi + SolarizEgypt ink 100 MW solar projects agreement
- Elite Solar breaks ground on USD 150 mn solar panel factory in TEDA
ENTERTAINMENT
What Oil Watch
LOCALIZATION
Retail Watch
Technology Watch
SAUDIZATION
On Our Radar
- Ta’ziz advances low-carbon methanol and ammonia ambitions.
- Egypt’s Madkour Group awarded grid project in Oman.
- Italy’s Cannon Artes breaks ground on advanced water treatment plant in Qatar.
- Egypt launches financing program to boost small solar sector players.
- Saudi government amasses several renewables localization agreements.
- Mawani + Medlog to establish a SAR 175 mn logistics center at Jeddah Islamic Port.
Mining Watch
Data points
Morning Must Read
GAMING
Morning Must-Read
CYBERSECURITY
GIGAPROJECTS
- Diriyah signs USD 1 bn contracts with Italian + French firms
- Diriyah signs USD 1 bn contracts with Italian + French firms.
- A new milestone
- Gigaprojects in Saudi hit USD 1.3 tn mark with more on the way.
- PIF to “reorganize management,” review McKinsey and BCG contracts, Reuters says
- PIF to “reorganize management,” review McKinsey and BCG contracts, Reuters says.
- Neom is hiring everything from builders to marketers
- Neom is hiring everything from builders to marketers.
- Is Neom planning its first-ever sukuk sale?
- Everything is on track at Neom, officials tell global contractors after report of a slower build-out
We We’re Tracking Today
DECARBONIZATION
- Aramco signs three MoUs to advance lower carbon energy solutions
- Aramco signs three MoUs to advance lower carbon energy solutions.
- Sabic opens world’s first demo plant for electrically-heated steam cracking furnace
- Sabic takes step to build renewables into the petchem industry with demo plant.
- Sabic opens world’s first pilot plant for renewables-powered steam cracker furnaces
- Sabic cuts the ribbon on the first pilot plant for renewables-powered steam cracker furnaces.
- KSA’s Sabic Agri-Nutrients reveals plans to decarbonize its chemical manufacturing
- KSA’s Sabic Agri-Nutrients reveals plans to decarbonize its chemical manufacturing.
- DP World partners with Masdar to decarbonize their global supply chain.
- DP World partners with Masdar to decarbonize their global supply chain
Big Story Abroad
- 174 dead in South Korea’s worst ever plane crash.
- Doubts over the commercial viability of AI just gave the Nasdaq its worst day since 2022.
- Biden taps out — and backs Kamal Harris as his successor.
- War and politics dominate front pages around the world as pundits worry that Iran-Israel tensions will be harder to manage going forward.
CAPITAL MARKET
- More investors, more AUM, and more VC funds: CMA’s highlights of 2023 in capital markets
- Aramco to launch blockbuster SAR 43 bn share sale today
- Aramco to launch blockbuster SAR 43 bn share sale today.
- Foreign investment in Tadawul equities hit new record in 4Q 2023
- Foreign investment in Tadawul equities hit new record in 4Q 2023.
- Saudi Azm inches closer to a main market transition
- Saudi Azm is one step closer to a main market transition.
CARBON MARKETS
- Saudi Arabia’s voluntary carbon market platform is online
- Saudi Arabia’s voluntary carbon market platform is online.
- Egypt’s carbon market heats up with 12 new projects coming on board
- Egypt’s carbon market heats up with 12 new projects coming on board.
- Adnoc partners with Petronas + Storegga for a CCS project in Malaysia.
- Egypt officially launches Africa’s first carbon market
- Egypt officially launches Africa’s first carbon market.
- Saudi Top signs up for KSA’s Regional Voluntary Carbon Market
- Saudi Top signs up for KSA’s Regional Voluntary Carbon Market.
- Saudi’s planned carbon credit exchange is getting another push
IPO WATCH-
Happening this Week
VENTURE CAPITAL
FOREIGN POLICY
FINANCE WATCH
ARTIFICIAL INTELLIGENCE
- Businesses report improved business performance citing AI adoption
- Businesses report improved business performance citing AI adoption- Survey
- Our AI talent pool has doubled in size since 2016 –LinkedIn
- Our AI talent pool has doubled in size since 2016 –LinkedIn.
- Aramco unit invests in Chinese rival to OpenAI
- Aramco unit invests in Chinese rival to OpenAI — Washington is watching.
WASTE MANAGEMENT
- Tadweer talks waste management in Egypt
- Tadweer talks waste management in Egypt.
- Miahona to build sewage and water treatment plants in Uzbekistan
- Miahona to build sewage and water treatment plants in Uzbekistan.
- ADQ + Ne’ma partner to reduce waste.
- Egypt’s waste-to-energy projects are moving forward
- Egypt’s waste-to-energy projects are moving forward
- Abu Dhabi's SWS will develop a USD 1 bn wastewater treatment plant in Uzbekistan
- Be’ah inks agreement to kick off second phase of waste treatment facility
- Be’ah inks agreement to kick off second phase waste treatment facility.
Plane Finance
What We’re Tacking Today
What We’re Tracking This Morning
Corporate Actions
Also on Our Radar(
PLANET FINANCE.
MOVE
Saud in the News
FUTURE INVESTMENT INITIATIVE
- PIF announces new USD 1 bn fund + multiple partnerships
- PIF announces new USD 1 bn fund + multiple partnerships.
- An avalanche from day two of the Future Investment Initiative
- Saudi’s IPO market is “on fire,” says Moelis and Co.
- Saudi looks to draw in AI investments by offering low energy costs for data centers.
- PIF agrees to back USD 2 bn Brookfield’s Middle East-focused private equity fund.
- Everything you need to know from day two of FII.
- Everything you need to know from day one of FII 2024
- Carbon transparency, energy, AI, and geopolitical tensions at FII.
WELFARE
ZONES
- Egypt + China’s Great Wall Motors continue talks to set up a factory in the SCZone
- Egypt + China’s Great Wall Motors continue talks to set up a factory in the SCZone.
- Modon launches the world’s largest food cluster in Jeddah
- Modon launches the world’s largest food cluster in Jeddah.
- Egypt’s SCZone signs land agreement with Orascom Industrial Parks for EGP 13 bn complex
- Egypt’s SCZone signs land agreement with Orascom Industrial Parks for EGP 13 bn complex.
- Two new zones are in the works for Egypt
- Two new zones are in the works for Egypt.
- Ta’ziz awards USD 2 bn EPC contracts for projects at Al Ruwais Industrial City.
- Indu Kishore breaks ground on spare-parts facility in Dubai South.
SHIPPING LINES
- CMA CGM has added the first direct service connecting Bangladesh to Gulf markets.
- CMA CGM Group to launch new service connecting Bangladesh to Gulf markets
- King Abdulaziz Port now has a trade route linking it to the Indian subcontinent
- CMA CGM has added the first direct service connecting Bangladesh to Gulf markets.
PORTS
- AD Ports taps Hassan Allam Construction for Safaga terminal infrastructure
- DP World begins maritime work on Ndayane Port project in Senegal
- DP World begins maritime work on Ndayane Port project in Senegal.
- AD Ports taps Hassan Allam Construction for Safaga terminal infrastructure.
- AD Ports + CMA CGM launch new container terminal at Abu Dhabi’s Khalifa Port
- AD Ports launches new container terminal at Abu Dhabi’s Khalifa Port.
- CMA CGM eyes up port and logistics projects in Saudi Arabia
- CMA CGM eyes up port and logistics projects in Saudi Arabia.
- Oman’s Asyad inks concession agreement to develop Al Suwaiq Port
- Oman’s Asyad inks concession agreement to develop Al Suwaiq Port.
LOGISTICS IN THE NEWS
- Global LNG prices are set to keep rising into 2025 + rising building costs are threatening US competitiveness
- Global LNG prices are set to keep rising into 2025.
- Airbus races against time… and Boeing
- Trump’s pledged tariffs could shift commodity and energy trade patterns
- China enacts countermeasures in the wake of a looming US-led trade war
- Trump’s victory to send ripples across global supply chains
- Trump’s victory to send ripples across global supply chains.
- Ammonia fuel struggles amid safety concerns, high costs
- Ammonia fuel struggles amid safety concerns, high costs.
- Global ports set to plug EUR 2 tn into modernization as importance as geopolitical assets grow
DISRUPTION WATCH
- Skirmishes continue as Iran releases seven MSC Aries crew members
- Skirmishes continue as Iran releases seven MSC Aries crew members.
- Israel hits back at Iran causing temporary flight disruptions + global shipping leaders call on UN to do for Red Sea security
- More regional aviation disruptions as Israel-Iran tensions settle.
- Global aviation begins to stabilize as Israel weighs its response
- Global aviation begins to stabilize as Israel weighs its response.
- Global aviation severely disrupted following Iranian counter attack on Israel
- Global aviation severely disrupted following Iranian counter attack on Israel.
- Maersk will continue to reroute shipments as continued disruptions and skirmishes batter the market
- Maersk will continue to reroute shipments as continued disruptions and skirmishes batter the market.
LOGISTICS HANDLING
- BLS opens USD 29.8 mn logistics center in Casablanca’s Tit Mellil
- BLS opens logistics center in Casablanca.
- Star Shine to build its first green logistics center in Alexandria.
- Almajdouie Logistics to set up JV with CEVA Logistics in Saudi Arabia
- Almajdouie Logistics to set up JV with CEVA Logistics in Saudi Arabia.
- DHL Express inaugurates MENA hub expansion at Bahrain International Airport
- DHL Express inaugurates MENA hub expansion at Bahrain International Airport.
- Arabian Automobiles Company breaks ground on new distribution center in Dubai
- Kuehne + Nagel breaks ground on Dubai South e-commerce hub
- Kuehne + Nagel breaks ground on Dubai South e-commerce hub.
PROJECTS
- Elite Group Holding to launch AED 100 mn automotive facility in Dubai Industrial City
- Turkey’s ErkPort + China’s Yantai Port Group ink strategic agreement on logistics
- Turkey’s ErkPort + China’s Yantai Port Group ink strategic agreement on logistics.
- Tamer Group + Saja Pharmaceuticals launching logistics park in KSA
- Tamer Group + Saja Pharmaceuticals launching logistics park in KSA.
- Ardco + Agility Logistics Parks to build a new Riyadh logistics complex
- Ardco + Agility Logistics Parks to build a new Riyadh logistics complex.
- KSA’s Kaden expands its logistics portfolio in Saudi
- KSA’s Kaden expands its logistics portfolio in Saudi.
- Aldar, Mubadala team up to manage, develop AED 30 bn real estate assets in Abu Dhabi
PURCHASING
- Non-oil private sector activity continues its boom in UAE
- Lebanon’s PMI rises to a four-month high, yet its private sector continues to be weighed down by escalating security concerns
- Kuwait and Qatar report record growth for non-oil business in November
- Kuwait + Qatar report record growth for non-oil business in November.
- KSA’s non-oil sector continues to see growth, while Egypt remains in contraction
- KSA’s non-oil sector continues to see growth, while Egypt remains in contraction.
- GCC countries continue to see non-oil sector growth, while Egypt’s and Lebanon’s contract
- PMIs are in for Egypt, KSA, UAE, Kuwait, Qatar and Lebanon.
- Kuwait and Qatar non-oil activity sustain growth in September, while Lebanon’s outlook remains somber amid security challenges
- Kuwait and Qatar non-oil activity sustain growth, while Lebanon’s outlook remains somber.
CARGO
- Abu Dhabi Airports breaks ground on cargo terminal at AUH
- Abu Dhabi Airports breaks ground on cargo terminal at AUH.
- Qatar Airways Cargo + Japan Airlines ink MoU for cargo expansion
- Qatar Airways Cargo + Japan Airlines ink MoU for cargo expansion.
- Menzies Aviation to open cargo facility at Western Sydney International Airport
- Menzies Aviation to open cargo facility at Western Sydney International Airport.
- Etihad Cargo expands belly hold capacity as it launches summer schedule
- Etihad Cargo expands belly hold capacity as it launches summer schedule.
- SAL inks air cargo lease + development agreement for King Khaled Int’l Airport Cargo Village
- SAL inks air cargo lease + development agreement for King Khaled Int’l Airport Cargo Village.
DATA CENTERS
- Edgnex + Damac + PPC Group launch data center in Greece
- Kemet Data Center secures land under usufruct agreement
- Khazna to build the UAE’s largest data center
- Khazna to build the UAE’s largest data center.
- Intro Tech + Oman Data Park to set up USD 450 mn data center.
- Merak Capital invests SAR 310.8 mn in Saudi smart mobility provider Shift.
- UAE’s MGX, Blackrock, GIP, Microsoft plan major data center investment
- UAE’s MGX, Blackrock, GIP, Microsoft planning major data center investment.
- UAE’s G42 starts receiving Nvidia chips after the US approves sale
- UAE’s G42 starts receiving Nvidia chips after the US approves sale.
SHIPPING + MARITIME
- DP World’s Drydocks World inaugurates its new South Yard expansion
- Al Seer Marine expands its fleet with two new vessels
- Al Seer Marine expands its fleet with two new vessels.
- DP World’s Drydocks World inaugurates its new South Yard expansion.
- KSA’s Folk Maritime to acquire 5.6k recyclable containers from China
- Milaha + ASSC ink long-term agreement for eco-friendly container vessels
- Egypt and Italy launch the long-awaited ro-ro line
- Egypt and Italy launch the long-awaited ro-ro line.
- Adnoc L&S + Wanhua JV places USD 250 mn order for ammonia carriers
- Adnoc L&S + Wanhua JV places USD 250 mn order for ammonia carriers.
EQUIPMENT
- AD Ports secures AED 420 mn worth of equipment for Angola and Congo terminals
- AD Ports secures AED 420 mn worth of equipment for Angola and Congo terminals.
- Sany + SGP sign a contract to supply King Abdulaziz Port with 80 e-trucks
- Sany Global to supply KSA’s Dammam port with 80 e-trucks.
- Dnata plugs USD 210 mn into new GSE equipment
- Dnata plugs USD 210 mn into new GSE equipment.
- Oman's Salalah Port receives new equipment as part of USD 300 mn upgrades.
- Oman's Salalah Port receives new equipment as part of USD 300 mn upgrades
- Bahrain’s BAS invests BHD 4.5 mn to upgrade its GSE fleet
- Bahrain’s BAS invests BHD 4.5 mn to upgrade its ground services fleet.
STORAGE + WAREHOUSES
- Ibnsina Pharma to set up a warehouse in Yanmu East Logistics Park
- Omada & Jaecoo open largest distribution center for Chinese automotive brands in UAE’s Jafza
- Omada & Jaecoo open distribution center in UAE’s Jafza.
- Bahri + Salic JV kick off operations at Yanbu Grain Handling Terminal
- Bahri + Salic JV kick off operations at Yanbu Grain Handling Terminal.
- Alsulaiman’s Flow + Bahrain’s Arcapita to develop logistics complex in Riyadh
- A new logistics complex is coming to Riyadh.
- Dnata breaks ground on 57k sqm warehouse in Dubai South
- Dnata breaks ground on new 57k sqm warehouse in Dubai South.
- Jordan + Egypt ink LNG supply and storage agreement
TRUCKING
- Iraq’s Baraq Al Qima truck assembly plant kickstarts operations
- Iraq’s Baraq Al Qima truck assembly plant kickstarts operations.
- Oman’s Synergy signs cooperation agreement to work on hydrogen fuel cell-powered commercial vehicles
- Oman’s Synergy signs agreement to work on hydrogen fuel cell-powered commercial vehicles.
- UAE’s Volt inks USD 210 mn contract for 3k e-trucks
- UAE’s Volt inks USD 210 mn contract for 3k e-trucks.
- PH2’s hydrogen fuel cell trucks are coming to the UAE
- PH2’s hydrogen fuel cell trucks are coming to the UAE.
- Abu Dhabi teams up with Sweden’s Einride to establish a new electrified transit network
- Abu Dhabi teams up with Sweden’s Einride to establish a new electrified transit network.
STORAGE + WAREHOUSING
SUPPLY CHAINS
- Morocco eyes LNG terminal and other LNG trade infrastructure
- Morocco eyes LNG terminal and trade infrastructure.
- Adnoc secures another 15-year LNG agreement for Ruwais project
- Adnoc secures another 15-year LNG agreement for Ruwais project.
- Esab + Petromasafi shore up supply chains with lease agreements at Spark’s dry port
- Esab + Petromasafi shore up supply chains with lease agreements at Spark’s dry port.
- KSA’s Aramco inks 40 local procurement contracts worth USD 6 bn.
- KSA’s Aramco inks 40 local procurement contracts worth USD 6 bn
- Saudi Arabia’s Aramco and DHL form a supply chain company.
- Saudi Arabia’s Aramco and DHL form supply chain JV
THE MACRO PICTURE
- MENA still leads the charge despite green tech investments dipping this year
- MENA still leads the charge despite green tech investments dipping this year.
- Developing countries will be the driver behind global cooling-related emissions as temperatures rise
- Energy efficiency progress jumps only 1% globally in 2024
- Energy efficiency global progress will jump only 1% in 2024.
- MENA special economic zones were a critical driver of global trade in 2023
- MENA special economic zones were a critical driver of global trade in 2023.
- The entertainment industry’s attempts at decarbonization
- The entertainment industry’s attempts at decarbonization.
- Reforestation is more than just planting lots of trees
ROADS
- Saudi Arabia inaugurates new road development project for Tabuk province
- Saudi Arabia inaugurates new road development project for Tabuk province.
- Dubai awards AED 696 mn road development project
- Dubai plugs AED 696 mn into road infrastructure.
- Oman invests OMR 119 mn in road development projects
- Oman invests OMR 119 mn in road development projects.
- Dubai inaugurates two bridges as part of road upgrade project
- Dubai inaugurates two bridges as part of road upgrade project.
- UAE’s Ajman inks agreements for two road development projects
- UAE’s Ajman inks agreements for two road development projects.
A MESSAGE FROM TRANSMAR
- Charting a greener future in maritime
- How the European ETS tax can transform Egyptian ports into global transit hubs
- Fresh Produce: The Lifeline of Global Trade and Food Security
- The exporter’s guide to freetrade agreements
- Egypt’s Trade Imbalance: Time to Act
- Egypt's Cement Industry is Poised for Export Expansion
- Navigating the seas: Your essential supply chain guidebook
- Navigating choppy waters: building resilience in global supply chains
FREIGHT FORWARDING
Danger Zone
RAIL
- Morocco’s ONCF taps SGTM for a USD 200 mn railway contract
- Morocco’s ONCF taps SGTM for a USD 200 mn railway contract.
- Alstom + SAR ink agreement to cooperate on KSA’s freight corridor
- Morocco taps Ineco-CID consortium to plan new railway project
- Morocco taps Ineco-CID consortium to plan new railway project.
- Alstom + SAR ink agreement to cooperate on KSA’s freight corridor.
- Morocco rolls out a MAD 9.78 bn rail expansion strategy
- Morocco unveils MAD 9.78 bn rail expansion strategy.
- Hafeet Rail and Etihad Rail ink a slew of agreements at Global Rail Summit
- Hafeet Rail and Etihad Rail ink a slew of agreements at Global Rail Summit.
THE BIG READ
- How will shipping alliances shape global trade in 2025?
- How will shipping alliances shape global trade in 2025?
- Can SAF fill demand for jet fuel?
- Container shipping firms are future-proofing their orderbooks with a green push
- Container shipping firms are future-proofing their orderbooks.
- Pulling the curtain back on the murky ownership of Russia’s Shadow fleet
- Pulling the curtain back on the murky ownership of Russia’s Shadow fleet.
- Can deploying smart port operations be a game-changer for the industry?
- Can deploying smart port operations be a game-changer for the industry?
- The regional data center market is primed for substantial growth
LAST MILE
Storage+ Warehouses
A MESSAGE FROM AK-SHIPS
Shipping & Maritime
Shipping and Maritime
A MESSAGE FROM AK SHIPS
Shipping +Maritime
Storage and Warehouses
WIND
- Drydocks World secures contract for German offshore grid connection project
- UAE’s Drydocks to engineer 2 GW Baltic sea grid connection project.
- Amea Power is setting up a 5 GW wind project in Gulf of Suez
- Uzbekistan inaugurates Masdar’s 500 MW Zarafshan wind farm
- Masdar’s 500 MW Zarafshan wind farm in Uzbekistan is online.
- Amea Power is setting up a 5 GW wind project in Egypt.
- Masdar progresses on 1 GW Kazakh wind farm
- Masdar progresses on 1 GW Kazakh wind farm.
- Morocco launches long-delayed 270 MW wind farm
- Morocco launches long-delayed 270 MW wind farm.
CLIMATE DIPLOMACY
- Jordan and Germany agree on Joint Action Program Plan for 2025
- The UK and Saudi Arabia strengthen cooperation on green manufacturing
- The UK + KSA strengthen cooperation on green manufacturing.
- UAE inks agreement with the Philippines on energy transition
- UAE inks agreement with the Philippines on energy transition.
- UN-backed ITA cooperates with UAE and Bahrain to boost decarbonization
- UN-backed ITA cooperates with UAE and Bahrain to boost decarbonization.
- Morocco + France sign yet more agreements
- France’s Suez lines up more projects in Morocco.
- Morocco inks EUR multi-bn clean energy agreements during Macron visit
ELECTRIC VEHICLES
- Al Mansour Auto, SAIC’s USD 135 mn MG manufacturing plant to go live in 2026
- Al Mansour Auto, SAIC’s USD 135 mn MG manufacturing plant to go live in 2026.
- Qatar's new electric bus factory is underway
- Qatar breaks ground on electric bus factory.
- Infinity + MEH launch Jordanian EV company Infinity Jordan
- Egypt’s Infinity launches a new EV charging JV in Jordan.
- A basket of updates from Egypt’s EV sector, courtesy of Mansour Auto + Chinese players
- A basket of updates from Egypt’s EV sector, courtesy of Mansour Auto + Chinese players.
- India’s Wardwizard to build two EV facilities in Saudi Arabia
- India’s Wardwizard to build two EV facilities in Saudi Arabia.
CLIMATE IN THE NEWS
- Climate disasters leave big human + financial toll behind in 2024
- Climate disasters caused USD 229 bn in damage in 2024.
- Hedge funds scale back on nuclear stocks after 2024 surge
- Hedge funds scale back on nuclear stocks after 2024 surge.
- Big Tech places bets on geothermal energy to feed AI data centers
- Big Tech places bets on geothermal energy to feed AI data centers.
- Drought ins. fails to support vulnerable nations
- The cruise industry needs to reign in emissions
- Can the highly polluting cruise industry find a way to decarbonize?
- Norway might show the world what an all-EV car market looks like
Coffee With…
- Crysp Farms CEO Maan Said tells us how they’re approaching agritech differently.
- VNV Advisory’s Omar El Nemr talks carbon projects and the potential for regional carbon markets.
- We talk climate resilience in farming with FarmERP CEO Sanjay Borkar.
- H2 Enterprises CEO Michael Stusch talks hydrogen production tech and what the hydrogen industry needs ahead of COP29.
- Founder and CEO of Zeroe Farouk Jivani discusses how AI-powered carbon accounting can drive sustainable finance.
- We chat with Peec Mobility’s founder Zach Faizal about EV repurposing technology.
GREEN TECH
- Electric soil could be a gamechanger for agriculture
- Electric soil could be a gamechanger for agriculture.
- UAE to tap into AI’s potential in energy transition + Masdar, Adnoc and Microsoft partner on AI and low-carbon solutions
- The UAE is going long on AI’s potential in its energy transition + Masdar, Adnoc and Microsoft partner on AI and low-carbon solutions.
- Researchers explore the use of nanotech in solar and water treatment
- Researchers explore the use of nanotech in solar and water treatment.
- MIT develops a solar desalination system without the need for batteries
- MIT develops a solar desalination system without the need for batteries.
- Saipem + Nel launch new scalable electrolyzer tech
- Saipem + Nel launch new scalable electrolyzer tech.
DISTRICT COOLING
- Cenomi Centers lines up district cooling plant for Jawharat Riyadh
- Cenomi Centers lines up district cooling plant for Jawharat Riyadh.
- Empower inks an agreement with MHI Thermal Systems for advanced chillers
- Empower inks an agreement with MHI Thermal Systems for advanced chillers.
- Empower awards contract for second Jumeirah cooling plant
- Empower awards contract for second Jumeirah cooling plant.
- Empower breaks ground on Deira’s cooling plant
- Empower breaks ground on Deira’s cooling plant
- KSA’s City Cool will establish a district cooling plant for Diriyah
- KSA’s City Cool will establish a district cooling plant for Diriyah.
BATTERY STORAGE
GREEN FINANCE
- World Bank extends USD 250 mn in financing to support Morocco’s climate-resilient agriculture
- WB extends financing to support climate-resilient agriculture in Morocco.
- Morocco secures USD 250 mn from World Bank to manage waste
- Morocco secures USD 250 mn from the World Bank to manage waste.
- EBRD mulling financing for Scatec + Hassan Allam, Acwa projects
- EBRD mulling financing totaling USD 320 mn financing for two renewables projects in Egypt.
- CIF pledges USD 1 bn in climate finance for Turkey
- Climate Investment Fund supports Turkey’s renewables plan with USD 70 mn for grid expansion.
- Green climate fund greenlights 3 programs for countries including Egypt
- Green climate fund greenlights 3 programs for countries including Egypt.
GREEN HYDROGEN
- Abu Qir Fertilizers to use green hydrogen to produce ammonia
- Abu Qir Fertilizers starts using green hydrogen to produce ammonia.
- Hynfra will build a green hydrogen plant in Egypt
- Jordan + HD Solar explore green hydrogen and ammonia production
- Jordan + HD Solar explore green hydrogen + ammonia production.
- Egypt secures a new USD 1.6 bn green hydrogen + ammonia plant.
- Sonatrach signs MoU to conduct feasibility studies to join SoutH2 Corridor project
- Sonatrach signs MoU to conduct feasibility studies to join the SoutH2 Corridor project.
- John Cockerill will support for Egypt’s green hydrogen sector.
- CMM ZE to produce green hydrogen in UAE, Tunisia, and Morocco for export
GREEN MOBILITY
- France’s XSun to produce solar-powered drones in Saudi
- France’s XSun to produce solar-powered drones in Saudi.
- Oman’s Synergy signs strategic cooperation agreement to work on hydrogen fuel cell-powered commercial vehicles
- Oman’s Synergy will work on establishing a market for hydrogen fuel cell-powered vehicles.
- Dubai is one step closer to offering the world’s first air taxi service.
- Dubai is one step closer to offering the world’s first air taxi service
- Abu Dhabi teams up with Sweden’s Einride to establish a new electrified transit network.
- Abu Dhabi teams up with Sweden’s Einride to establish a new electrified transit network
- KSA’s Red Sea Global shifts to low-carbon biofuel for land vehicles fleet
- KSA’s Red Sea Global shifts to low-carbon biofuel for land vehicles fleet.
GREEN SHIPPING
FROM THE CLIMATE STORE
- A new EV sports car is hitting the streets in Saudi
- Aggreko introduces new battery storage systems to MENA
- Aggreko introduces new battery storage systems to MENA.
- Kia’s EV5 is available in Morocco
- GB Auto Group to launch Cherry’s EQ7 electric SUV in Egypt
- VinFast partners with Al Mana Holding for exclusive EV dealership in Qatar
- SERES + Green Motos launch two new EVs
- The Volvo EX30 EV hits Oman’s streets
- The Volvo EX30 EV hits Oman’s streets.
- Hummer EVs are now available in UAE and Kuwait
BLUE HYDROGEN
RECYCLING
- Saudi Arabia inks contracts to import recycling equipment from the UK
- Saudi Arabia inks contracts to import recycling equipment from the UK.
- Egypt will debut its first ship breaking yard at Damietta Port
- Damietta Port is set to receive Egypt’s first ship breaking yard.
- Ma’aden greenlights aluminum recycling plant in Ras Al-Khair
- Ma’aden greenlights aluminum recycling plant in Ras Al-Khair.
- UAE’s Green Metal to build a steel recycling plant in Kezad
- UAE’s Green Metal to build a steel recycling plant in Kezad.
- Oman’s Sohar Freezone inks lease agreement for USD 3 mn lead acid battery recycling plant
- Oman’s Sohar Freezone inks lease agreement for USD 3 mn lead acid battery recycling plant.
GREEN INDUSTRY
- Emirates Biotech to build a USD 800 mn PLA facility
- Emirates Biotech to build a USD 800 mn PLA facility.
- Gulf Biopolymer Industries will build MENA’s first biodegradable PLA plant in Kezad.
- Gulf Biopolymer Industries will build MENA’s first biodegradable PLA plant in Kezad
- KSA’s Makeen and Rolls Royce to manufacture sustainable fuel engines
- KSA’s Makeen and Rolls Royce to manufacture sustainable fuel engines.
WATER TREATMENT
BIOFUELS
- Saudi and Oman to build SAF plants
- Saudi + Nordic Electrofuel partner on SAF plant.
- Spain’s Cepsa + PreZero to partner on biomethane plant development
- Spain’s Cepsa + PreZero to partner on biomethane plant development.
- Emirates incorporates SAF in London Heathrow flights
- Emirates incorporates SAF in London Heathrow flights.
- Mubadala-backed Atvos will build a biomethane plant in Brazil
- Mubadala-backed Atvos will build a biomethane plant in Brazil.
- Oman’s X2E will invest USD 1.6 bn into biofuels over two years.
- Omani-British X2E will invest USD 1.6 bn into biofuels over two years
ENERGY STORAGE
GREEN AMMONIA
- We have details on Dahamco’s Morocco green ammonia project
- We have details on Dahamco’s Morocco green ammonia project.
- John Cockerill will support for Egypt’s green hydrogen sector
- Jordan Green Ammonia signs land use agreements for green ammonia plant
- Jordan Green Ammonia signs land use agreements for green ammonia plant.
- Hyport Duqm advances certification pilot for green hydrogen and ammonia production
- Hyport Duqm advances certification pilot for green ammonia production.
- PROJECT UPDATE- OCP’s USD 7 bn green ammonia plant to enter FEED phase next month
- OCP’s USD 7 bn green ammonia plant to enter FEED phase next month.
- We have new details on Oman’s Hyport Duqm green hydrogen project
CLIMATE POLICY
- Turkey aims high in its 2035 Renewable Energy Roadmap, revamps tender process
- Turkey aims high in its 2035 renewable energy roadmap.
- UN’s Summit of the Future + Climate Week close in NYC
- UN’s Summit of the Future + Climate Week close in NYC.
- Oman is working on a new energy transition strategy
- Oman is working on a new energy transition strategy.
- Egypt is updating its national water resources strategy
- Egypt is updating its national water resources strategy.
- Kuwait’s KFAS releases a country-wide energy transition roadmap
- Kuwait’s KFAS releases a country-wide energy transition roadmap.
GREEN MANUFACTURING
- Inovartic Investment to establish a graphene facility in Abu Dhabi
- Inovartic Investment to establish a graphene facility in Abu Dhabi.
- Oman breaks ground on USD 68 mn silicon metal factory
- Oman breaks ground on USD 68 mn silicon metal factory.
- Oman breaks ground on a USD 1.3 bn polysilicon factory
- Oman breaks ground on a USD 1.3 bn polysilicon factory.
WASTE TO ENERGY
- KSA’s Warsan WtE plant begins full commercial operations
- KSA’s Warsan WtE plant begins full commercial operations.
- Nahdet Misr is lining up two more waste-to-energy projects in Egypt.
- Oman Cement heats up decarbonizations plans with a WtE plant
- Oman Cement heats up decarbonizations plans with a WtE plant.
- Alec, Butec JV tapped to build Abu Dhabi’s first waste-to-energy plant
- Alec, Butec JV tapped to build Abu Dhabi’s first waste-to-energy plant.
- Ewec + Tadweer partner with Japanese consortium on waste-to-energy facility
- Ewec + Tadweer partner with Japanese consortium on a WtE facility.
The Danger Zone
BATTERIES
- CDG snaps up stake in Gotion
- CDG snaps up stake in Gotion.
- Morocco + Turkey to each get a new lithium battery factory
- Morocco + Turkey are each getting a new lithium battery factory
- Statevolt to launch a USD 3.2 bn battery gigafactory in the UAE
- US-based Statevolt set to launch a USD 3.2 bn battery gigafactory in the UAE.
WASTEWATER TREATMENT
HYDROPOWER
GREEN POLICY
- Jordan announces tax exemptions for green tech
- Jordan announces tax exemptions for green tech + reveals four billing methods for connections to the national grid.
- Egypt publishes its national low carbon hydrogen strategy
- Egypt publishes its national low carbon hydrogen strategy
- Qatar targets 4 GW renewables capacity by 2030 in new renewables strategy
- Qatar targets 4 GW renewables capacity by 2030 in new renewables strategy.
WAVE ENERGY
AMMONIA
- Qatar Energy begins construction on mega blue ammonia plant
- Qatar Energy breaks ground on USD 1.2 bn blue ammonia plant.
- Adnoc JV places a USD 1.9 bn order for alternative fuel carriers
- Adnoc JV places a USD 1.9 bn order for alternative fuel carriers.
- There’s movement on Sabic Agri-Nutrients’s blue ammonia plant in Jubail
- There’s movement on Sabic Agri-Nutrients’s blue ammonia plant in Jubail.
- Construction begins on Ta’ziz Al Ruwais ammonia plant
- Construction begins on Ta’ziz Al Ruwais ammonia plant.
- Adnoc delivers world’s first certified ammonia shipment to Japan
- Adnoc delivers world’s first certified ammonia shipment to Japan.
GREEN METHANOL
NUCLEAR
- Petrojet to lead USD 100 mn coastal protection project at Dabaa plant
- Petrojet to lead USD 100 mn coastal protection project at Dabaa plant.
- UAE’s Barakah nuclear plant begins operations on fourth reactor
- Rosatom is a leading bidder for Turkey’s second nuclear plant
- Rosatom is a leading bidder for Turkey’s second nuclear plant.
- UAE + China expand cooperation on nuclear power project development
- UAE + China expand cooperation on nuclear power project development.
GREEN FUEL
- Egypt gets the ball rolling on USD 530 mn sustainable aviation fuel project
- Egypt launches new company to pursue green aviation fuel ambitions.
- Mercantile & Maritime Group to set up biofuel plant in UAE
- Mercantile & Maritime Group are bringing the region’s first aviation biofuel plant to the UAE in 2026.
- OQ Alternative Energy to explore producing e-fuels in Oman
- OQ Alternative Energy to explore producing e-fuels in Oman.
CARBON STORAGE
FOOD SECURITY
Around the World.
GREEN STEEL
- Masdar and Emsteel commence operations at green steel plant
- Masdar + Emsteel kick off green steel production.
- Sonatrach and Tosyalı explore green hydrogen production in Algeria
- Sonatrach and Tosyalı explore green hydrogen production in Algeria.
- Turkey’s Tosyalı to build world's largest DRI complex in Libya
- Turkey’s Tosyalı to build world's largest DRI complex in Libya.
CLIMATE CHANGE
CARBON MANAGEMENT
COUNTDOWN TO COP
HYDROGEN
CLIMATE RESILIENCE
GREEN CONSTRUCTION
COP Watch
- ACG pledges USD 10 bn at COP16 bringing total pledges up to USD 12 bn
- ACG pledges USD 10 bn at COP16 bringing total pledges up to USD 12 bn.
- COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries
- COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries.
- COP29 delivers final text tripling annual climate finance target after running into overtime
- COP29 delivers final text tripling annual climate finance target.
- Negotiators are hashing out a full draft of new funding targets
- Negotiators are hashing out a full draft of new funding targets.
- The final stage of negotiations starts at COP29
- G20 will set the stage as COP29 heads towards final negotiations.