ADQ’s $35 billion investment in Ras El Hekma development singled out as the turning point in the fiscal fortunes of the country
Africa
Abu Dhabi
UAE President Sheikh Mohamed in Egypt for $110bn Ras El Hekma launch; development to house 2m people and create 750,000 jobs
UAE President Sheikh Mohamed witnesses launch of $35bn Ras El Hekma development in Egypt
Egypt
Nobu to open in Egypt as part of SODIC’s launch of Eastown District New Cairo
With an aim to redefine New Cairo’s retail and leisure landscape, EDNC introduces new experiences, with Nobu’s upcoming opening marking a major milestone for Egypt’s upscale dining and hospitality sector
Egypt
Egypt real estate: El Gouna launches massive Tuban luxury district on Red Sea coast
The first phase of Tuban’s Waterfalls residences is scheduled for completion by early 2027 as part of El Gouna’s rapid expansion
airline business
Dubai’s Emirates announces fourth daily flight to Johannesburg from March 2025
The new service, operated on a three-class Boeing 777-300ER, will increase Emirates’ capacity by 708 seats daily
South Africa
South Africa to introduce points-based work visa and nomad permit scheme in 30 days
People who are paid and work abroad will be able to live in South Africa and use their foreign income there thanks to the new system
DP World
DP World and Nedbank collaborate to secure supply chain finance
Partnership with South African bank will help businesses across sub-Saharan Africa access working capital and enhance trade flow
Egypt
Inside Gulf investors’ multibillion-dollar bet on Egypt’s North Coast as FDI target sparks buying spree
Investors from the UAE, Saudi Arabia, and Qatar are fueling Egypt’s coastal real estate investment boom
Dubai
‘Dubai 7s for Good’ CSR programme raises AED 580,000 for sports, educational facilities in disadvantaged areas
The latest fundraising brought the total capital raised to AED 1.68 million during its four years of operation
Abu Dhabi
AD Ports Group awards crane contracts for Africa terminal project to Chinese company
ZPMC is to supply six ship-to-shore cranes, and 17 hybrid rubber tyred gantry cranes
Adani Group
Kenyan Court halts Adani Group’s $1.85bn airport deal amid local backlash: Report
The deal would have granted Adani the right to operate Nairobi’s Jomo Kenyatta International Airport for 30 years
Chinese travellers
South Africa to introduce 90-day visa waiver for Indian travellers starting January 2025
The move is expected to increase the number of Indian tourists visiting South Africa, which currently stands at 16,000
Egypt
Significant oil discovery announced in Egypt’s western desert
The Egyptian Ministry of Petroleum unveils new incentives to boost oil and gas production and exploration
agricultural exports
Zimbabwe eyes key role in UAE food security drive as agriculture exports grow
This comes at a crucial time for the UAE as it seeks to diversify its food sources
Pirate stock exchange
What Somali pirates can teach us about free market economics
In the absence of formal governance structures, Somali pirates have created a sophisticated shadow economy that almost mirrors legitimate markets in surprising ways
Aviation
Qatar Airways acquires 25% stake in South Africa’s Airlink
Qatar Airways expands network in Africa after buying share of Airlink
Algeria
Algeria to Tunisia train resumes after 30 years
Train service between Algeria and Tunisia is back on track after 30-year gap