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Financials and Investment News

Aramco's Q2 Net Income Rises 90% Yoy To $48.4 Billion
United Arab Emirates >> 8/14/2022 - The Saudi Arabian Oil Company (Aramco or the Company) today announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income and declaring a divi...
World Green Economy Summit in Dubai Supports UAE’s Preparations for Hosting COP28 Next Year
United Arab Emirates >> 8/14/2022 - Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai Electricity and Water Authority (DEWA), and the World Green Economy ...
SCTDA Launches ‘Holiday Homes Project’ To Diversify Economic Growth
United Arab Emirates >> 8/14/2022 - Sharjah Commerce and Tourism Development Authority (SCTDA), in cooperation with several government and private agencies and institutions in the emirate, has launched a regulatory framework, the Sharja...
Madbouli Probes Maritime Cooperation With Tunisia, Algeria
Egypt >> 8/15/2022 - Prime Minister Mostafa Madbouli highlighted the significant role played by the maritime transport sector in boosting Egypt’s trade and increasing its exports, affirming the importance of strengthening...
PM Follows Up on Status of Utility Projects Nationwide
Egypt >> 8/15/2022 - Prime Minister Mostafa Madbouli chaired a meeting with Minister of Housing, Utilities and Urban Communities Assem el Gazzar to follow up on the status of utility projects being carried out nationwide,...
Unemployment Rate in Egypt Stable at 7.2 Percent in Q2/2022
Egypt >> 8/15/2022 - Egypt’s Central Agency for Public Mobilisation and Statistics (CAMPAS) announced that the unemployment rate in Egypt in Q2/2022 remains unchanged at 7.2 percent, a slight increase from the previous qu...
Fitch Expects Real GDP Growth of 0.16% for Egypt in 2022; Keeps Inflation at 13.2%
Egypt >> 8/15/2022 - Fitch Solution has upgraded its projection for Egypt’s real GDP growth in 2022 by 0.16 percent to reach 6.17 percent, up from 6.1 percent predicted in July, according to its monthly economic outlook o...
Manpower Minister: Sisi Ordered Constant Contact With Citizens to Offer Them Best Services
Egypt >> 8/16/2022 - Minister of Manpower Hassan Shehata said that President Abdel Fattah El Sisi issued directives officials to constantly contact citizens and offer them the best services along with working on spreading...
Finance Min:Utmost Efforts to Be Exerted to Serve Citizens
Egypt >> 8/16/2022 - Finance Minister Mohamed Maait stressed that he will do his best to contribute to building the "new republic" as President Abdel Fattah El Sisi renewed confidence in him in view of the recent cabinet ...
ICT Min Inspects 1st Phase of City of Knowledge Project in New Capital
Egypt >> 8/16/2022 - Minister of Communication and Information Technology (MCIT) Amr Talaat on Monday 15/8/2022 paid an inspection tour of the City of Knowledge under construction in the New Administrative Capital.
PM Checks on Egypt's Strategic Reserves of Essential Commodities, Status of Crop Cultivation
Egypt >> 8/16/2022 - Prime Minister Mostafa Madbouli chaired a meeting to check on the country’s strategic reserves of essential commodities, as well as the status of crop cultivation within the framework of the State’s p...
Irrigation Min., Gharbia Governor Review Ongoing Projects, Water Policy
Egypt >> 8/16/2022 - Irrigation Minister Hany Suwilam held a meeting with Gharbia Governor Tareq Rahmy.

The meeting probed the ministry's under-construction projects in the governorate.

The two off...
3.91% Increase in Extractives & Transition Industries in May 2022
Egypt >> 8/16/2022 - Central Agency for Public Mobilization and Statistics (CAPMAS) showed a 3.91% increase in the record of the extractives and transition industries (without crude oil and oil products to 113.27 in May 2...
22% Growth in Commercial Licencing Business in First Half of 2022
United Arab Emirates >> 8/16/2022 - The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, completed about 16,000 transactions through its Licencing Department during t...
Madouli Inspects Alexandria Port, Follows Ups ACI Implementation
Egypt >> 8/17/2022 - Prime Minister Mostafa Madbouli inspected Alexandria Port to follow up on the projects underway at the port.

The premier was accompanied by Minister of Finance Mohamed Maait, Minister of ...
Touchless Technology, Crowd-Tracking Sensors And Real-Time Data
United Arab Emirates >> 8/17/2022 - The Fourth Industrial Revolution (4IR) technologies, including such innovations as crowd-tracking sensors to collect real-time data, mixed reality and metaverse, will define the future of megaevents i...
G42 Launches US$10 Billion Technology Growth Fund
United Arab Emirates >> 8/17/2022 - G42, the leading UAE-based AI and cloud computing technology company, today launched the US$10 billion G42 Expansion Fund, a global technology growth fund formed in strategic partnership with Abu Dhab...
CBUAE Launches 'Advanced Certificate for Risk-Based Supervision Professionals'
United Arab Emirates >> 8/17/2022 - The Central Bank of the UAE (CBUAE) has launched the Advanced Executive Certificate for Risk-Based Supervision Professionals, the second level of its internal supervisory certification programme.
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Hamdan Bin Mohammed Amends Resolution on Payment of Outstanding Public Funds by Instalments
United Arab Emirates >> 8/17/2022 - H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, issued Executive Council Resolution No. (53) of 2022 amending Article No. (25) of ...
Mulla, Denmark's Haldor Topsoe Delegation Probe Joint Cooperation
Egypt >> 8/17/2022 - Minister of Petroleum and Mineral Resources Tareq el-Mulla discussed with President and CEO of Denmark's Haldor Topsoe Roeland Baan and his accompany delegation cooperation in energy transition projec...

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