Azerbaijan is joining Saudi Arabia, the UAE, Egypt, Morocco, Kenya, Rwanda, and Tanzania in significantly boosting the Middle East and Africa tourism sector in 2025. These eight countries are all experiencing surging visitor arrivals, increased travel spending, and strong government-led tourism investments. Their combined growth is driving a regional tourism boom characterized by cultural appeal,...
The President of the United Arab Emirates (UAE), Mohamed bin Zayed Al Nahyan, held talks with his Egyptian counterpart, Abdel Fattah Al-Sisi, during an official visit to the UAE. This meeting was reported by the Emirates News Agency (WAM), a partner of TV BRICS. Credit: TV Brics The discussions took place at the Qasr Al...
Egypt has successfully attracted investments exceeding $47 billion from more than 1,800 American companies over the past two decades. This information was disclosed by Prime Minister Mostafa Madbouly during the US-Egypt Policy Leaders Forum. The Prime Minister highlighted that these American firms operate in a variety of sectors, including energy, industry, information technology, financial services,...
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has announced a reduction in key interest rates by 100 basis points (bp). This decision was communicated through a press release issued on May 22nd. As a result of this cut, the overnight deposit rate now stands at 24%, while the overnight lending rate has...
On May 4, 2025, the UAE’s Abu Dhabi Ports Group (AD Ports Group) entered into a controversial agreement with Egypt’s General Authority of the Suez Canal Economic Zone (SCZONE) to develop and manage the KEZAD industrial and logistics zone, located near Port Said. This zone covers approximately 20 square kilometers and is strategically positioned at...
China-based Xinxing Ductile Iron Pipe Company has signed four contracts valued at a total of $47 million for significant projects in Kuwait, Iraq, Tunisia, and Jordan. This announcement was made through a company statement, highlighting the firm’s growing presence in the Middle East and North Africa (MENA) region. Waleid Gamal El-Dein, the Chairman of the...
Egypt is set to introduce four new free trade zones in 2026 as part of its strategy to enhance exports and stimulate investments. This announcement was made by an official who highlighted the government’s commitment to expanding economic opportunities. Currently, Egypt boasts nearly 230 private free zones that benefit from significant customs and tax incentives....
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, conducted a meeting with representatives from the British company Shard Capital to discuss the advancement of the $7 billion Mediterranean Petrochemicals Complex in New Alamein. This meeting follows the signing of a joint framework agreement with the Saudi Al-Qahtani Group last February during the EGYPES event....
The United Arab Emirates (UAE) and Egypt are expected to reap significant benefits from the recent reordering of the global trade framework led by the United States, according to Ebru Pakcan, the CEO of Citigroup Mena. This insight indicates a favorable outlook for these two countries compared to others in the Mena region. Credit: Reuters...
The Minister of Energy of the Kingdom of Saudi Arabia, Prince Abdulaziz bin Salman bin Abdulaziz, met with Egyptian Foreign Minister Dr. Badr Abdelatty to discuss enhancing cooperation in the energy sector. This meeting took place in Riyadh on Monday, as reported by the Saudi News Agency (SPA). During their discussions, the two officials explored...