Egypt’s Net Foreign Assets Jump to a Record $18.5 Billion in July
Egypt’s net foreign assets rose by $3.54 billion in July to a record $18.5 billion, central bank data showed, as Gulf investments, a currency devaluation…
Category: BUSINESS
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Developing Countries Swapping Out of Dollar Debt
Developing countries are moving out of dollar debts and turning to currencies with rock bottom interest rates such as the Chinese renminbi and Swiss franc,…
Lebanon’s Central Bank Shifts Responsibility for ‘al-Qard al-Hassan’ to the State
Lebanon’s central bank has placed responsibility for handling “al-Qard al-Hassan,” the financial arm of Hezbollah, squarely on the state. In a statement clarifying Circular No.…
Trump and sons’ stake in crypto firm worth $5bn
The crypto token backed by the Trump family has started publicly trading, giving the holdings owned by the US president and his sons a value…
Saudi Arabia Private Sector Drives Housing Projects Worth Over $106 Billion
Saudi Arabia’s Minister of Municipalities and Rural Affairs and Housing, Majid Al-Hogail, announced that the value of housing projects executed in partnership with the private…
UK borrowing costs hit 27-year high adding to pressure on Reeves
Long-term government borrowing costs in the UK reached their highest level since 1998 on Tuesday, adding to the pressure on the chancellor ahead of the…
Will drones deliver your next hot food order?
Meal delivery is a luxury city dwellers take for granted – but more options are opening up for non-urban residents. Boasting nearly 700,000 islands collectively,…
Gold price hits record high as investors seek safety
The price of gold has hit a record high as demand for the precious metal remains strong amid global economic uncertainty. The spot gold price…
How Gulf companies can succeed if boardrooms overcome fear of AI adoption
For many Gulf companies, artificial intelligence solutions are failing to catch on not because of some weakness in the technology, but because corporate leaders are…
BYD shares slide as China’s EV price war hits profits
Shares in Chinese electric vehicle maker BYD slid by as much as 8% on Monday after it reported a drop in profit because of a…