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Saudi wealth fund PIF reportedly plans to acquire Egypt’s United Bank for $600 million

Saudi Arabia’s Public Investment Fund (PIF) is reportedly in advanced talks to acquire Egypt’s United Bank in a deal that could value the state-owned...

UAE’s Mashreq inks regional sponsorship deal with Argentina football team

UAE’s Mashreq Bank said Friday that it has signed a regional sponsorship agreement with Argentina’s national football team until 2023. The deal makes Mashreq...

Egypt’s headline inflation jumps to five-year high in November

Egypt’s annual urban consumer inflation soared to a five-year high of 18.7% in November, data from state-run statistics agency CAPMAS showed Thursday, as the...

UAE’s Majid Al Futtaim raises $1.25 billion sustainability-linked loan

Majid Al Futtaim, the Middle East region’s biggest mall operator, said Monday that it had raised a $1.25 billion revolving credit facility linked to...

NBK—Egypt’s 9M2022 net profits surges by 22.55% to EGP 1.29 billion on corporate credit growth

National Bank of Kuwait—Egypt (NBK)  has reported a net profit of EGP 1.29 billion for the first nine months of 2020, a 22.55% year-on-year...

Saudi Arabia fintech firm Tweeq secures license to offer e-wallet services

The Saudi Central Bank (SAMA) said Tuesday that it has issued an electronic money institution (EMI) license to Tweeq International Financial Company to provide...

Egyptian startup Grinta raises $8 million in seed funding to strengthen technology platform

Egyptian startup Grinta said Monday that it raised $8 million in seed funding led by Raed Ventures and Nclude as the company seeks to...

HSBC Oman agrees to Sohar International Bank merger

HSBC Bank Oman and local rival Sohar International Bank said Wednesday that they have agreed on terms of a merger that will create one...

Saudi wealth fund PIF, BlackRock to jointly explore MENA infrastructure investments

Saudi Arabia’s Public Investment Fund (PIF) signed a non-binding MoU with BlackRock on Monday to jointly explore infrastructure projects in the Middle East, with...

Egypt’s inflation accelerates to 16.2% in October on soaring food costs

The latest data from Egypt’s CAPMAS showed that annual urban inflation accelerated to a four-year high of 16.2% in October and economists expect it...

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