Egypt’s central bank has opted to keep its benchmark interest rates unchanged, maintaining a cautious stance as inflation shows signs of moderation while policymakers continue to monitor regional developments and their impact on the economy. Following its latest Monetary Policy Committee meeting, the Central Bank of Egypt left the overnight deposit rate at **19%** and …

Egypt Leaves Interest Rates Unchanged as Inflation Eases and Growth Outlook Holds Firm Read More »

Abu Dhabi-listed ADNOC Logistics and Services (ADNOC L&S) is accelerating its fleet expansion after placing a $900 million order for four next-generation liquefied natural gas (LNG) carriers, strengthening its capacity to serve rising global gas demand. The new vessels, each offering a cargo capacity of 175,000 cubic metres, are scheduled to enter service in 2029. …

ADNOC L&S Deepens LNG Shipping Push With $900 Million Order for Four New Carriers Read More »

Abu Dhabi-based telecom and technology giant **e&** has decided to part ways with its investment in **Vodafone Group**, agreeing to sell its entire 16.21% shareholding in a transaction valued at around **AED 21.8 billion ($5.95 billion)**. The buyer is **Vega**, an acquisition vehicle wholly owned by the French **Niel family group**, marking the end of …

e& Cashes Out of Vodafone, Seals $5.95 Billion Share Sale to France’s Niel Family Read More »

Saudi Arabia’s project awards gathered strong momentum in June, with contracts worth more than SAR29.5 billion ($7.9 billion) awarded across 25 projects, making it the busiest month of 2026 by project count. While May remained the strongest month by overall value with awards exceeding SAR30 billion, June closely followed, underscoring sustained investment activity across the …

Saudi Project Awards Surge to Nearly $8 Billion in June as Construction Dominates Activity Read More »

The Abu Dhabi Securities Exchange (ADX) is set to eliminate daily trading price limits for Exchange Traded Funds (ETFs) and futures contracts, marking a significant change aimed at improving market efficiency and deepening liquidity. The new framework will come into force on August 3, 2026. By removing daily trading bands, the exchange intends to allow …

ADX Scraps Daily Price Caps on ETFs and Futures in Push for Faster, More Liquid Trading Read More »

ADNOC Distribution has struck a definitive agreement to acquire the entire shareholding of Shell Downstream South Africa (SDSA), advancing a transaction valued at roughly **$1 billion** that significantly expands the UAE energy retailer’s presence across Africa. The acquisition, which remains subject to customary regulatory approvals, is expected to close in **2027**. Although ADNOC Distribution will …

ADNOC Distribution Targets African Growth With $1 Billion South Africa Fuel Network Buyout Read More »