Morocco invests in desalination plants as drought worsens

Located in an arid zone characterized by rain disruption, Morocco seeks solutions to solve water scarcity and ensure supply for domestic, industrial, and agricultural purposes

North Africa

Suez, Panama canals sign cooperation agreement to boost investments

The Suez and Panama canals’ economic zones seek to attract more investments through a cooperation agreement to exchange experiences and information.

Egypt

Western creditors suspend debt relief to Sudan over coup as country’s economy sinks

The Paris Club of major creditors announced the suspension of a 2021 agreement with the now-deposed transitional government to restructure the large foreign debt of Sudan.

North Africa

Egypt plans to use ruble in trade with Russia

Egypt and Russia seek to switch to local currencies in their trade transactions to overcome obstacles created by Western sanctions on Moscow over the Ukraine war.

Egypt

Egypt, Turkey hold firm on interest rates

Turkish President Recep Tayyip Erdogan is adamantly opposed to raising interest rates, but some observers expected Egypt to raise rates in line with Gulf banks and the US Federal Reserve.

Egypt

Egypt, Saudi Arabia sign economic agreements worth $7.7 billion

Saudi Arabia intends to invest about $8 billion in various economic sectors in Egypt, which will ease the Egyptian economy's wheels amid the global crisis.

Egypt

Turkey says no evidence Ukrainian grains stolen by Russia reached its shores

Turkey is being lobbied by the UK to discuss the safe shipping of Ukrainian grain due to looming global shortages but denies any has reached its ports.

Turkey

Tourism to Dubai up nearly 200% this year

The Expo 2020 Dubai provided a big boost as the Emirati city continues to bounce back from the coronavirus pandemic.

Legacy: Gulf

Egypt participates in Russian economic forum

Egyptian President Abdel Fattah al-Sisi delivered a virtual speech at the opening session, stressing the need to find "effective solutions" to the global economic crisis.

Egypt

Palestinians call out PayPal for discrimination

PayPal's refusal to offer services in Palestine is impeding the region's economic growth and preventing many freelance knowledge workers from receiving digital payments.

Palestine

Egypt looks for upsurge in tourists from sanctions-hit Russia

Cairo and Moscow are holding talks to allow the Russian payment system MIR in Red Sea resorts.

Egypt

Egypt’s car industry suffers under dollar crisis

Car prices experienced a steep spike in Egypt over the past months as the dollar rose against the Egyptian pound and import restrictions were imposed amidst a decline in supply and a redirection of Egypt’s market shares to other countries.

Egypt