International and Arab News
Business
First Forum of African Investment Promotion Agencies Kicks off in Egypt
Egypt’s Prime Minister Mustafa Madbouly inaugurated on Friday the first forum of heads of African investment agencies in Sharm El-Sheikh. Held under the slogan of “Integration for Growth”, the forum seeks to develop a strategy to stimulate investment within the Dark Continent. In his speech, M
Iraq Oil Minister Says Gas Sector a Priority
Iraq’s oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq’s oil minister said Friday.
Softbank Vision Fund: The Pandemic Catalyzed Tech Adoption
Last month, Softbank made headlines around the world after it reported a whopping $45.8 billion net profit for the fiscal year that ended in March, largely driven by gains in its Vision Fund. The annual profit was not only the highest of any Japanese company ever and a stark reversal from the 962
Saudi Aramco Raises $6 Billion with Debut Sukuk
Saudi Arabian oil giant Aramco locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first US dollar-denominated sukuk sale, a document showed. The debt issuance, which will help fund a $75 billion dividend commitment tha
Saudi Arabia, Côte d'Ivoire Seek to Cooperate In Rice Production
The Saudi embassy in Abidjan informed the Saudi private sector about a study of a strategic cooperation project between the Kingdom and the Republic of Côte d'Ivoire for the production and manufacture of rice, sources told Asharq Al-Awsat. The project will allow the production of one million tons
IEA: Clean Investment Surge Needed to Meet Climate Goals
The world has no option other than to finance a huge, sevenfold surge in investment into clean energy in emerging and developing economies if climate goals are to be met, an IEA report said Wednesday. "In many emerging and developing economies, emissions are heading upwards while clean energy inv
Sudan’s US Dollar Auctions Ease Exchange Rate Pressure
Sudan’s central bank said on Sunday it had allocated the full $50 million it offered in its third foreign currency auction. Traders said the new policy seemed to be narrowing a gap between official and black market rates that had widened in recent weeks.