Infoblaze Egypt (2024)

26/01/2024

Forbes The Middle East's Top CEOs 2023

Many Middle East-based CEOs have more power and responsibilities than CEOs in other regions as they head companies that are monopolies or duopolies in the Arab world and market leaders globally. This phenomenon is partly due to GCC countries investing their sovereign wealth into large domestic businesses. The region’s biggest banks, telecoms, industrial, oil and gas, mining, and even hospitality companies are owned by the government. This makes the role of the CEO even more challenging. As well as managing a profitable business, the CEO also needs to focus on the vision of the government. Many of these leaders also head government bodies, and some are also ministers or cabinet ministers......
https://bit.ly/3NT7N1v

Via www.forbesmiddleeast.com

25/01/2024

players star in new campaign to drive travel with Emirates

Emirates and Real Madrid are capturing the attention of football fans around the world with the launch of an ad, starring some of the stars of the club, to entice customers to travel across the airline's network of more than 130 destinations.

The commercial features Real Madrid players Nacho, Vinicius Jr., Kepa and Rodrygo, who, as if they were real magicians, simply by snapping their fingers manage to fulfill the wishes of the people on screen (trips, gifts, etc.), all under the slogan "Make It Better, Fly Better".

The ad is currently playing on Real Madrid and Emirates social media platforms with targeted media support in , , , , , and ....
https://bit.ly/3S6VPm6

Real Madrid C.F. | Emirates

LetsTalkCity

20/01/2024

Delegation In To Reportedly Discuss $3B Loan Program

An International Monetary Fund (IMF) delegation is in Cairo to discuss Egypt's $3 billion loan and reform program, Reuters reported late Friday, citing the fund spokesperson as saying, amid a possibility of further financial assistance.

IMF loan

The spokesperson said that the team, led by IMF Egypt Mission Chief Vladkova Hollar, would "continue discussions on the first and second reviews of Egypt's reform program supported by the IMF's Extended Fund Facility. We will communicate at the end of the visit.".....
https://bit.ly/3Oadmss

Julian Nabil
Via www.forbesmiddleeast.com

07/01/2024

AD Ports Group, Red Sea Port Authority initial 15-year concession agreement to boost tourism in

AD Ports Group today initialled a 15-year concession agreement with the Red Sea Port Authority (RSPA), to operate and manage three cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports.

The agreement also encompasses the renovation of the Sharm El Sheikh terminal, with the ultimate aim of enhancing the cruise tourism experience in Egypt. A definitive concession agreement is expected to be concluded in the first quarter of 2024, subject to regulatory approvals.

The concession agreement was initialled in the presence of Lieutenant-General Eng. Kamel El Wazir, Egypt’s Minister of Transport, by Major General Mohamed Abdel Rahim, Chairman of the Board of Directors of the Red Sea Ports Authority and Ahmed Al Mutawa, Regional CEO, AD Ports Group, at the Egyptian Ministry of Transportation in New Capital City – Cairo....
https://bit.ly/48nMnSl

AD Ports Group

LetsTalkCity

05/01/2024

Middle East's Top CEOs

Many Middle East-based CEOs have more power and responsibilities than CEOs in other regions as they head companies that are monopolies or duopolies in the Arab world and market leaders globally. This phenomenon is partly due to GCC countries investing their sovereign wealth into large domestic businesses. The region’s biggest banks, telecoms, industrial, oil and gas, mining, and even hospitality companies are owned by the government. This makes the role of the CEO even more challenging. As well as managing a profitable business, the CEO also needs to focus on the vision of the government. Many of these leaders also head government bodies, and some are also ministers or cabinet ministers.

In 2023, the region’s top CEOs have focused on sustainability, consolidation, and growth. Saudi Arabia, in particular, invested across sectors. Accelerated corporatization boosted economies, and the consolidation of government companies saw larger corporations emerge. A number of large IPOs in the region also unlocked value for companies. Global events also contributed to burgeoning corporate profits, including the FIFA World Cup Qatar 2022 and COP28 in Dubai.

Our third annual list of the top 100 CEOs in the Middle East features leaders representing 22 nationalities. Emiratis dominate with 23 entries, followed by Egyptians with 19 and Saudis with 18. This is a positive sign for localization, with most large companies now headed by local executives. The banking sector has the most entries, with 17, followed by real estate and construction with 14 and telecommunications with nine....
https://bit.ly/3NT7N1v

Forbes Middle East

Via www.forbesmiddleeast.com

30/12/2023

To Reroute Ships Amid Attacks In Red Sea: Report

German company Hapag-Lloyd will reassess the situation on January 2 and continue to reroute its vessels from the Suez Canal, Reuters reported, citing a company spokesperson, amid attacks by Yemen's Houthi group against international shipping in the Red Sea.

Security concerns
On Thursday, the shipping and container transportation company said it would reroute its ships around the Cape of Good Hope "with immediate effect." According to the company's updated schedule, all vessels originally set for the Suez Canal will be redirected around Africa in the upcoming weeks....
https://bit.ly/47goHxN

Via www.forbesmiddleeast.com

14/12/2023

Vietnamese, Egyptian enterprises strengthen connectivity

A Vietnam-Egypt business matching was held in Giza city in the province of the same name on December 13, as part of the activities to mark the 60th anniversary of the two countries’ diplomatic relations.

The event attracted the participation of representatives from more than 40 Egyptian enterprises and several Vietnamese firms....
https://bit.ly/3RumxF8

Via vietnamplus.vn

08/12/2023

Forbes 30 UNDER 30 2023 | Middle East

Meet the Middle East’s Class of 2023. The region’s 120 most impactful young innovators, determined to change the world around them.

The inspirational young leaders, dreamers, creatives, and athletes on MiddleEast 30 Under 30 list are at the forefront of driving change in the MENA region, expanding their influence into untapped areas. This year, our list features 120 entries across four categories, with 30 entries each, shedding light on the individuals who are leading the way in the social impact and green energy field, disrupting the financial market, shattering barriers in arts and sports, and harnessing the cutting-edge technologies to create groundbreaking inventions and medicines.

The 2023 list features 145 individuals representing 22 nationalities. Egyptians feature the most, with 44 individuals, followed by 15 Saudis, 14 Lebanese, 13 Emiratis, and 10 Jordanians.

They are based across 20 countries. Of the 145 individuals, 43 are based in the , 36 in , 14 in , nine in , and six in . The average age of all individuals on the list is around 26.6 years old, with the youngest being just 15 years old.....
https://bit.ly/485obUf

Forbes Middle East
Forbes Middle East English

Via www.forbesmiddleeast.com

02/12/2023

Shifting The Spotlight: The Middle East’s Ascent In the World Of Luxury

This year has seen Middle Eastern celebrities increasingly find their footing in the worlds of fashion, beauty, and jewelry as brand ambassadors and campaign models. In February 2023, Tiffany & Co. tapped Lebanese singer Nancy Ajram as its newest face, joining other ambassadors that include, Zoë Kravitz and BTS’ Jimin. In May, Egyptian-Montenegrin actress Tara Emad was named CHANEL’s first Middle East brand ambassador for fragrances and beauty.....
https://bit.ly/46HO23w

Samar Khouri
Via www.forbesmiddleeast.com

22/11/2023

How Braille Tech Visionary Abdelrazek Aly's Bonocle Is Empowering The Visually Impaired In

An entrepreneurial journey can begin in a million different ways, but for Abdelrazek Aly, cofounder and CEO of Bonocle, it literally started by accident. In 2014, when he was a computer science student at Qatar University, Aly had a car collision that broke his right hand. Finding himself temporarily impaired, he joined the university’s Inclusion and Special Needs Support Center and began interacting with and learning about people with visual disabilities.... “We started brainstorming and educating ourselves about how things could work better. By collaborating closely with the blind community, we've evolved Bonocle into the product that it is today,” says Aly, an Egyptian who moved to Qatar......
https://bit.ly/3upk32W

Abdelrazek Aly | Ramy Abdulzaher
Bonocle

Hagar Omran
Via www.forbesmiddleeast.com

21/11/2023

- trade ties gain momentum as Saudi minister leads delegation to Egypt

Economic and trade partnerships between Cairo and Riyadh are on track to strengthen amid the Saudi commerce minister’s visit to Egypt on Nov.19.

Egyptian Prime Minister Mostafa Madbouly received Saudi Commerce Minister Majid bin Abdullah Al-Qasabi and the delegation, which included 90 senior businessmen and leaders of prominent national firms....
https://bit.ly/3R4x7Dz

Via www.arabnews.com

19/11/2023

Forbes Middle East Presents The 2023 Class Of

Forbes Middle East has unveiled its highly anticipated sixth annual 30 Under 30 list, showcasing the region’s most exceptional young talent making waves across diverse industries. This year’s list spotlights 120 entries spanning four main categories: Commerce and Finance, Entertainment, Science and Technology, and Social Impact. Each category has 30 entries.

To be eligible for the 30 Under 30 list, applicants had to have been under 30 years old on December 31, 2022, meaning that anybody born in 1993 or later was eligible to be on the list. Candidates could have any nationality but had to have their primary impact in MENA....
https://bit.ly/3G801wm

leads with 43 followed by (36) (14) (9) (6)

Forbes Middle East

Jamila Gandhi
Via www.forbesmiddleeast.com

07/11/2023

Egypt’s signs $15.6bn deal for green hydrogen manufacturing

Egypt’s Suez Canal Economic Zone has signed a $15.6 billion agreement with prominent Chinese companies to boost green fuel manufacturing initiatives.

The agreements are set to produce around 9,000 job opportunities and encompass the establishment of 11 projects, according to the SCZONE Chairman Walid Gamal El-Din.....
https://bit.ly/3FO0jZ7

Via www.arabnews.com

05/11/2023

Advises On $196M Loan For Development Subsidiary To Finance Project

EFG Hermes' investment banking division has announced the completion of its advisory role in securing a syndicated ten-year loan agreement worth $195.8 million (EGP 6 billion) for Orascom for Real Estate (ORE), a subsidiary of Orascom Development Egypt (ODE), a statement showed.

Loan agreement
The loan will be used to finance the O West Project development and support ORE’s plan to rev the pace of the construction and delivery program, which started earlier this year, according to a statement released Sunday....
https://bit.ly/3u3tQvl

Orascom for Real Estate Orascom Development
EFG Holding

Ola Noureldin
Via www.forbesmiddleeast.com

26/10/2023

Egypt Eases Curbs On Credit Card Limits Abroad

Egypt has decided to relax the restrictions on credit card payments outside the country, which were imposed just a few days ago, following complaints from bank customers abroad.

Credit card payments abroad

The North African country's central bank said that it relaxed the limits for making credit card payments abroad, provided that the customer informs the card-issuing bank of his travel and provides proof of his use of the card within 90 days of his return to the country....
https://bit.ly/45GVTxP

CreditCards

Hussein Abdel Fattah
Via www.forbesmiddleeast.com

10/10/2023

Tourists alter plans as - war escalates

With the Israel-Palestine conflict intensifying, tour operators are receiving last-minute rescheduling and cancellation requests from Indian travellers who had plans to visit the area or neighbouring regions during December....
https://bit.ly/3trAHhX

Anu Sharma
Via www.livemint.com

01/10/2023

And Sign $1.4B Currency Swap Agreement

The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) entered Thursday into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP) to boost cooperation and develop financial markets.

Currency swap
The agreement allows for the exchange of local currencies between the two central banks with a nominal size of up to $1.4 billion (AED 5 billion and EGP 42 billion), according to a joint statement released Thursday.
The banks said the aim of the agreement was to promote cooperation.....
https://bit.ly/3rAd4Tz

Ola Noureldin
Via www.forbesmiddleeast.com

01/10/2023

Egypt's Fintech Firm Value To Launch In In 2024

Egypt-based fintech platform Valu has announced plans to launch in Jordan in early 2024 as part of its expansion strategy, a statement showed Sunday.

Valu in Jordan

Valu, the buy now pay later (BNPL) firm, has initiated the process of applying for a license from the Central Bank of Jordan in the near future, the statement noted.

The decision to expand into Jordan "aligns perfectly with Valu's strategy of prioritizing markets with plug-and-play market dynamics," said Walid Hassouna, CEO of Valu, in the statement.
The fintech firm hopes to ensure profitability in its Jordan operations within 12-24 months of launching.

Valu is exploring options to expand its operations to other countries in the North African region.....
https://bit.ly/3PAvxHH

Walid Hassouna Valu
Buy Now Pay Later

Ola Noureldin
Via http://forbesmiddleeast.com

26/09/2023

Egypt Announces New Bid Round For Oil And Gas Exploration
Egypt’s petroleum ministry announced an international bid round for oil and gas exploration in 23 new areas, it said in a statement Monday.

Oil and gas exploration
The bid comprises 10 areas in Egypt’s , two in the , seven in the , and four areas in the , it added....
https://bit.ly/3RAWUnM

Julian Nabil
Via www.forbesmiddleeast.com

24/09/2023

Distribution Opens First Branded Service Stations In

UAE-based fuel and convenience retailer ADNOC Distribution announced Saturday the opening of its first three branded service stations in Cairo, Egypt, as part of its international expansion plans.

Plans in Egypt
ADNOC plans to launch another four to six stations this year in Egypt, said CEO Bader Saeed Al Lamki in a statement....
https://bit.ly/3tbpT78

ADNOC Distribution
ADNOC Group

LetsTalkCity

Via www.forbesmiddleeast.com

21/09/2023

Egypt-Based Offers Renewable Energy Solutions To The Nation's Underserved Areas

NoorNation's flagship product is LifeBox- a solar-powered mobile solution that offers clean electricity and safe water simultaneously for farming businesses.

The following is a profile on one of the six startups that have been chosen to be in the second edition of PepsiCo's Greenhouse Accelerator Program: MENA Sustainability Edition- an annual program to support regional entrepreneurs or startups that are tackling a variety of climate-related challenges.

"Made by Africans to Africans." That is the tagline that defines Egypt-based renewable energy startup NoorNation, which offers decentralized energy and water infrastructure solutions to underserved areas within Egypt, as well as the wider sub-Saharan Africa....
https://bit.ly/48qHAzK

Ragy Ramadan NoorNation

Aalia Mehreen Ahmed
Via http://entrepreneur.com

09/09/2023

Why Investors Are Shifting Focus To Early-Stage In Startup Ecosystem

According to ’s recent report MENA Venture Investment, MENA startups raised approximately $1.1 billion from 193 deals in the first half of 2023, indicating a 42% decrease in funding and a 49% decrease in the number of deals compared to the same period last year. Almost half of this capital came from three mega-deals recorded by Saudi Arabia and Egypt. The second quarter had a more pronounced impact of the slowdown as it marked the lowest funding level since Q3 2020 and the lowest number of deals since Q2 2017.....
https://bit.ly/45Q1Lpq

witnessed an average decrease of 51% in deals in H1 2023

Amr Abdelhamid
Via www.forbesmiddleeast.com

06/09/2023

tops list of new Dubai Chamber of Commerce members during H1 2023 with 6,717 companies, leads Arab world behind with 2,154

A total of 6,717 new Indian-owned companies signed up for membership in H1 2023, compared to 4,845 in H1 2022, representing year-over-year growth of 39%.“The diversity of nationalities represented among the new companies joining the chamber reflects the vibrancy of Dubai’s dynamic business environment, together with the emirate’s strong ability to consistently attract a broad range of foreign direct investment.”
“The chamber’s extensive facilities, services, and activities add tremendous value for businesses and are closely aligned with our drive to achieve the goals of the Dubai Economic Agenda and the chamber’s strategic priorities.” Mohammad Ali Rashed Lootah- Indian companies accounted for 22.3% of new registrations during H1 2023 and brought the total number of Indian member companies to 90,118.- 3,395 new Pakistani companies joined the chamber in H1 2023 to bring the total number of Pakistani-owned businesses to more than 40,000.- The number of new Egyptian companies joining the chamber recorded a year-over-year growth of 102% during H1 2023.- 963 new companies from the United Kingdom joined the chamber during the first half of 2023, with the total number of UK-owned companies now exceeding 10,000....
https://bit.ly/45CiIDF

Dubai Chamber

LetsTalkCity

23/08/2023

GCC revealed as top export and re-export market for Dubai Chamber of Commerce members during H1 2023

Exports and re-exports to Qatar achieved year-over-year growth of 39.3% during H1 2023.

“Dubai Chambers remains committed to achieving the goals of the Dubai Economic Agenda and accelerating sustainable economic development. We are keen to enhance access to new markets for the emirate’s business community to meet our strategic targets, serve the interests of the private sector, and further boost the competitiveness of Dubai’s dynamic business environment.”

“The diversity of our members’ export and re-export markets reflects their flexibility in responding to rapidly evolving global market conditions and is supported by our efforts to provide international investment opportunities.” Mohammad Ali Rashed Lootah

- was the top export destination for members during H1 2023, with the total value of exports achieving year-over-year growth of more than 15% to reach AED 35 billion.

- , , , , and were among the top ten destinations for members’ exports and re-exports during the first half of 2023.

- Exports and re-exports to Qatar achieved year-over-year growth of 39.3% during H1 2023.

- Southern Africa is the fastest-growing region for members’ exports, followed by Central Asia, Eastern Europe, Northern Europe, and East Africa.

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the GCC was the top export and re-export market destination for its members globally during the first half of 2023. Saudi Arabia was named as the top destination for members’ exports, with the total value recording year-over-year growth of more than 15% to reach AED 35 billion.....
https://bit.ly/3OPfm9b

Dubai Chamber

LetsTalkCity

21/08/2023

poised to infuse $120bn into Egypt: KnightFrank

Egyptian capital Cairo is emerging as a promising investment destination, according to a recent report by Knight Frank, which suggests that sovereign wealth funds in the Middle East could infuse up to $120 billion into the North African nation over the next few years.....
https://bit.ly/45vYsCU

Knight Frank Middle East

Via http://arabnews.com

13/08/2023

Rising Stars: Eight Women With Middle Eastern Roots Making Waves In

Only a third of the workforce at the largest tech companies are women. But despite the odds, these remarkable women with roots in the Middle East are making their impact on Silicon Valley.

According to the US Bureau of Labor Statistics, the labor force participation rate for women across the United States sits at 57%. Amazon reports 39% of their workforce being female, while Microsoft reports a lowly 26%. These numbers significantly decline when we talk about women leaders in tech. Apparently an abysmal 11% of leadership positions in top global tech firms are filled by women today,...
https://bit.ly/3YvVdsU

Erika Masako Welch Lucidity Insights

Via www.entrepreneur.com

04/08/2023

With A $5.5B Backlog, 's Third-Gen Co-CEOs Reveal How They're Modernizing An 87-Year Legacy

While being lucky enough to be born into a thriving family business may seem like a guaranteed path to success, the truth is that there are no guarantees. According to Deloitte, more than 70% of family businesses fail before reaching the third generation. That is not the case for Hassan Allam Holding, an Egyptian construction, engineering, and utilities company. Now under the leadership of two of the founder’s grandchildren, it has been growing at a rapid rate for over 87 years. The group’s backlog has grown over tenfold in the last 13 years alone, from $500 million in 2009 to $5.5 billion in 2022....
https://bit.ly/44RZg5l

Hagar Omran
Via www.forbesmiddleeast.com

01/08/2023

Forbes ME Unveils TheTrailblazingTop 100 Arab FamilyBusinesses 2023

Forbes Middle East has revealed its flagship annual list of the Top 100 Arab Family Businesses for 2023, showcasing MENA’s most exceptional legacy businesses that have not only endured through generations but are now making waves on the region’s stock markets.

Determined to honor the profound heritage and triumphs of Arab family businesses, Forbes Middle East meticulously evaluated each conglomerate based on the size and performance of their holdings, business activity, age, and legacy, as well as their remarkable geographical and sector diversification. Notably, over 60% of the esteemed listees are major shareholders in companies listed on regional stock exchanges, many of which were founded by their families.

Demonstrating the kingdom’s profound business prowess, -headquartered family businesses dominate with 33 entries, holding four of the top 10 positions. Trailing close behind, the boasts an impressive 29 entries, followed by with nine and with eight......
https://bit.ly/44PNiZR

Forbes Middle East

Jamila Gandhi
Via http://forbesmiddleeast.com

29/07/2023

The Top 10 Countries For In 2023
led with 339 scaleups, followed by (140) and (132)

The UAE led the MENA region, with it being home to 339 scaleups, while Egypt and Saudi Arabia follow with 140 and 132 scaleups, respectively.

Scaleups are companies that have raised funds above US$1 million since inception. As of December 2022, 749 scaleups across 19 countries in the Middle East and North Africa region attracted a total of $19.5 billion in capital....
https://bit.ly/3Og6l8y

Ashok Raman
Via www.entrepreneur.com

25/07/2023

Now Is The Time To Tap The Entrepreneurial Zeal Of Arab Youth

Young entrepreneurs require a hand up, rather than a handout, to make their way in the world– specifically, less red tape, more vocational training, and more affordable (and accessible) finance.

In 2008, when we launched the first edition of the annual ASDA'A BCW Arab Youth Survey, two themes dominated the discussion from Dubai to Davos: the Middle East's "youth bulge," and its "untapped youth dividend."

15 years later, and despite the Arab world population becoming younger, realizing this so-called "youth dividend" still appears a distant prospect.

Youth unemployment in the Middle East and North Africa has worsened, and at 26%, it is higher than the world average by around 13%....
https://bit.ly/3OakrIM

Arab Youth Survey
Sunil John asda'a bcw

Via www.entrepreneur.com

Infoblaze Egypt

26/01/2024

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