Egypt has a population of over 100 million people. The country has a high mobile and internet penetration necessary for a young and tech-savvy population with 61% below 30. But despite its youthful population, two out of every three individuals are currently unbanked in Egypt. It’s the same situation in MENA, where only 40% of…
Most major stock markets in the Gulf rose in early trade on Monday, driven by gains in the financial sector, although Qatar bucked the trend to trade lower.Saudi Arabia’s benchmark index (.TASI) gained 0.4%, with Al Rajhi Bank (1120.SE) rising 0.9% and Saudi Telecom Company (7010.SE) up 0.8%.The kingdom announced on Sunday that foreign visitors…
Iran has signed a $1.78 billion contract with Petropars Group to develop the country’s Farzad B gas field, Oil Ministry website SHANA said on Monday, after the failure of talks with Indian companies to develop the offshore site.Under the deal, the subsidiary of state-run National Iranian Oil Co (NIOC) will produce 1 billion cubic feet…
The dollar edged higher on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies. The euro fell marginally while other major currencies remained in tight ranges in a quiet start to the week. Bitcoin skidded to a three-month low after Tesla Inc (TSLA.O) boss…
© Reuters. FILE PHOTO: A man counts notes after receiving the new Sudanese currency at a central bank branch in Khartoum July 24, 2011. REUTERS/ Mohamed Nureldin Abdallah/File Photo PARIS (Reuters) – Sudan hopes to entice investors and secure pledges to pay off its arrears to the International Monetary Fund at a conference in Paris…
© Reuters. FILE PHOTO: U.S. President Joe Biden leaves after speaking about the coronavirus disease (COVID-19) response and the vaccination program from the Rose Garden of the White House in Washington, U.S., May 13, 2021. REUTERS/Kevin Lamarque By Howard Schneider and Jarrett Renshaw WASHINGTON (Reuters) – High unemployment. Rising prices. Gas lines. They’re a bad…
After operating in the red for 14 years, JD.com’s logistics subsidiary is getting ready for an initial public offering in Hong Kong. JD Logistics will price its share between HK$39.36 and HK$43.36 apiece, which could see the firm raise up to about HK$26.4 billion or $3.4 billion, according to its new filing. JD.com, Alibaba’s e-commerce…
5/5 © Reuters. FILE PHOTO: Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File Photo 2/5 By Stella Qiu and Kevin Yao BEIJING (Reuters) -A metal coatings plant in China’s manufacturing hub has been hit by price increases of up to 30% for raw materials including steel, aluminium,…
Sudan hopes to entice investors and secure pledges to pay off its arrears to the International Monetary Fund at a conference in Paris on Monday, paving the way for wider relief on external debt of at least $50 billion. Sudan built up huge arrears on its debt, but recently made rapid progress towards having much…
U.S. Secretary of State Antony Blinken discussed the violence in Israel, the West Bank and Gaza in phone calls with the Qatari, Egyptian and Saudi foreign ministers, the State Department said on Sunday.Blinken and Qatar’s Sheikh Mohammed bin Abdulrahman Al-Thani discussed “efforts to restore calm in Israel and the West Bank and Gaza in light…
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