Business

Hermes, GEMS Invest $300 Million in Egypt Education

Hermes, GEMS Invest $300 Million in Egypt Education

Egypt’s biggest investment bank EFG Hermes announced Sunday that it is willing to investment $300 million in basic education in Egypt in cooperation with UAE GEMS Education in the upcoming five years. Upon the partnership, EFG Hermes will establish an investment fund to be directly managed by its

Sudan Targets Increasing Oil Production to 31 Million  Barrels

Sudan Targets Increasing Oil Production to 31 Million Barrels

 The Sudanese cabinet approved several measures aimed at raising the country’s oil production to 31 million barrels this year, with revenues reaching one billion dollars. The government’s production of crude oil is expected to reach about 11 million barrels in 2018 and increase to 17.1 million ba

EU Could Compensate Firms Targeted by US Sanctions over Iran

France is looking to see if the European Union could compensate European companies that might be facing sanctions by the United States for doing business with Iran, said French Finance Minister Bruno Le Maire on Sunday. Le Maire referred to the 1996 EU rules, which he said could allow the EU to i

Oil Surges Above $80 Amidst Iran Concerns

Oil Surges Above $80 Amidst Iran Concerns

Benchmark oil contract Brent North Sea surged above $80 a barrel Thursday, hitting the highest level since November 2014 on concerns that Iranian exports could fall due to renewed US sanctions and reduce supply in an already tightening market. Brent crude futures LCOc1 reached an intraday high of

EU Allocates EUR300 Million Support to Tunisia

EU Allocates EUR300 Million Support to Tunisia

The 14th session of the Tunisia-EU Association Council was concluded by announcing the allocation of additional support in the forms of donations to the Tunisian economy during the current year, worth EUR300 million.

SABB, Al-Awwal Possible Merger in Saudi Arabia

SABB, Al-Awwal Possible Merger in Saudi Arabia

SABB and al-Awwal Banks have reached an advanced stage of merger negotiations, which is a unique step that proves the strength of the financial sector in Saudi Arabia. Through two separate announcements on Tadawul, SABB and al-Awwal confirmed that discussions in relation to the possible merger ar

Aramco, Petronas Launch Corporate Identity of Joint Ventures

Aramco, Petronas Launch Corporate Identity of Joint Ventures

Saudi Aramco and Petroliam Nasional Berhad (PETRONAS) launched on Tuesday the corporate identity for their joint ventures in the Pengerang Integrated Complex (PIC) located in Pengerang, Johor, Malaysia, namely Pengerang Refining Company Sdn Bhd (PRefChem Refining) and Pengerang Petrochemical Company

Pages