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Financials and Investment News

Yalla Group Reports Record Revenues of AED 265.7 Million in Q1 2022
United Arab Emirates >> 5/17/2022 -  Yalla Group Limited, the UAE-based leading voice-centric social networking and entertainment platform in the Middle East and North Africa (MENA), announced its financial results for the first quarter...
UAE’s Economy Advances to Achieve Sustainable Growth
United Arab Emirates >> 5/17/2022 - The UAE has entered a new era of development and economic diversification, under the theme, "Growth Sustainability," based on the empowerment phase. The country has created a developed infrastructure ...
Dnata Boosts Erbil Operations With Over US$17 Million Invested In Advanced Facilities
United Arab Emirates >> 5/17/2022 - dnata, a leading global air and travel services provider, has announced a significant expansion of its operations in Erbil, Iraq.

The company opened a new, advanced cool chain facility and...
IHC Completes AED7.3 Billion Adani Group Transaction
United Arab Emirates >> 5/17/2022 -  International Holding Company (IHC) announced the completion of an AED7.3 billion (US$2 billion) investment transaction in the Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Tra...
PM Chairs Meeting of Coordinating Council for Monetary, Financial Policies
Egypt >> 5/17/2022 - Prime Minister Mostafa Madbouli chaired a meeting of the Coordinating Council for Monetary and Financial Policies in the presence of Governor of the Central Bank of Egypt (CBE) Tareq Amer and Plannin...
Egypt’s Sovereign Fund Becomes A Full IFSWF Member
Egypt >> 5/17/2022 - The International Forum of Sovereign Wealth Funds (IFSWF) — a global network of sovereign wealth funds from over 40 countries — admitted the Sovereign Fund of Egypt (TSFE) as a full member along with ...
Egyptian Expats’ Remittances Rise By 12.8% in March, Reach $3.3bln: CBE
Egypt >> 5/17/2022 - Remittances of Egyptian expats rose by 12.8 percent in March to reach $3.3 billion, up from then $2.9 billion recorded in the corresponding month of 2021, according to the Central Bank of Egypt (CBE)....
32,564 Instant Licences Issued by DET Since Launch of The Initiative in August 2017
United Arab Emirates >> 5/18/2022 - The Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET) in Dubai reported that 32,564 Instant Licences were issued since the launch of the initiative in Aug...
US Dollar Exchange Rate Declines Against EGP
Egypt >> 5/18/2022 - The exchange rate of the US dollar against the Egyptian pound slightly declined , after the Central Bank of Egypt raised the interest rate by 1% in March.

At the National Bank of Egypt (NB...
CBE to Decide on Key Interest Rates on Thursday Amid Rising Inflation
Egypt >> 5/18/2022 - The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is set to convene to review the key interest rates for the third time in 2022 and for the second time since the breakout of the R...
Fewer Burdens on Importers
Egypt >> 5/18/2022 - Not all importers will be obliged to sign letters of credit as a result of a new presidential decree.

Egypt’s business and importers community welcomed President Abdel-Fattah Al-Sisi’s de...
Fewer Burdens on Importers
Egypt >> 5/18/2022 - Not all importers will be obliged to sign letters of credit as a result of a new presidential decree.

Egypt’s business and importers community welcomed President Abdel-Fattah Al-Sisi’s de...
Egypt And EU Strengthen Cooperation
Egypt >> 5/18/2022 - The European Union is strengthening its cooperation with Egypt in fighting terrorism and building bilateral relations.

The Egyptian port city of Alexandria witnessed the celebration of Eu...
A Revamp of Economic Policy
Egypt >> 5/18/2022 - The market awaits the implementation of some very bold government promises.

This week Prime Minister Mustafa Madbouli told a press conference that the government was seeking to re-engage ...
ADX Facilitates Access to Growing Market Opportunities
United Arab Emirates >> 5/18/2022 - Abu Dhabi Securities Exchange (ADX) has announced that it is facilitating access to the exchange for investors registered on other UAE financial markets.

The ADX initiative applies to inv...
ECI Named Best Export Credit Agency At 2022 GTR Leaders In Trade Awards
United Arab Emirates >> 5/18/2022 - Etihad Credit Insurance (ECI), the UAE Federal export credit company, received the ‘Best Export Credit Agency’ award at the Global Trade Review (GTR) Leaders in Trade 2022 Awards.

The Lea...
ADDED, SAP Sign Mou to Accelerate Digital Transformation in Abu Dhabi
United Arab Emirates >> 5/18/2022 - The Abu Dhabi Department of Economic Development (ADDED) has signed a memorandum of understanding (MoU) with the leading provider of enterprise business software, SAP.

As part of the agre...
Alpha Dhabi to Invest AED9.2 Billion in 'Alpha Wave Ventures II' Fund
United Arab Emirates >> 5/19/2022 - Alpha Dhabi Holding has announced its commitment to invest AED9.2 billion in Chimera Capital and Alpha Wave's landmark "Alpha Wave Ventures II" venture fund, which was announced and launched at the be...
UAE Enhances Its Stature As Capital of Business Tourism Under Sheikh Mohamed Bin Zayed' Leadership
United Arab Emirates >> 5/20/2022 - Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE enhances its stature as a capital of business tourism, to achieve sustainable development by supporting econo...
UAE Participates in 7th Annual Meeting of Board of Governors of New Development Bank
Egypt >> 5/20/2022 - Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, yesterday participated in the 7th annual meeting of the Board of Governors of the New Development Bank (NDB) of the BRICS countries, ...

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