UAE to increase exports to countries in West Africa

The Emirates is one of the biggest investors in Africa. Turkey, Qatar and Israel have significant interests on the African continent as well.

Legacy: Gulf

Israel to build first solar plant on Bedouin land

A unique agreement with the State offers a Bedouin tribe in the south of Israel real ownership of its land, enabling it to rent out space for the construction of a giant solar plant.

Israel

Imports up pressure on Morocco’s foreign reserves

Energy and food imports alongside a growing trade deficit put pressure on Morocco’s foreign currency reserves.

North Africa

Gaza YouTuber scams million dollars, vanishes

Dozens of citizens in Gaza fell victim to the fraud of Palestinian YouTuber Jalal al-Najjar who collected one million US dollars and vanished.

Palestine

Islamic finance grows despite global economic turmoil

Legacy: Gulf

Ankara forces companies to sell hard currency as circle tightens

The Turkish government’s latest loan restriction may help the embattled lira recover to some extent, but not without the risk of damaging side effects.

Turkey

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