Author: cairosun.com

Sahar Nasr has been named independent director of Helios Fairfax Partners Corporation. She is the first Egyptian and African woman to be appointed to the High-Level Advisory Board of the United Nations Social Impact Fund. Sahar Nasr is an Associate Professor at the School of Business, Department of Economics at the American University of Cairo in Egypt, as well as the Al-Yamamah University in Riyadh, Saudi Arabia. In 2015, Ms. Nasr was sworn in as Egypt’s Minister of International Cooperation; in 2017, she was sworn in as Egypt’s Minister of Investment and International Cooperation; and in 2018, she was appointed…

Chairman of the Capital Market Authority (CMA), Shaikh Abdullah Salem al Salmi, approved on Thursday the licensing of the first crowdfunding platform operator in the Sultanate of Oman, Ethis Investment Platform LLC. It is the first Islamic global crowdfunding platform to operate in Oman. A nod from the Authority is the first since the new Crowdfunding Platform Rules were issued on November 21, 2021. CMA has attracted overwhelming interest from international as well as local crowdfunding fintech players since it has been made very facilitative and allows cross-border investing. As part of the new regulation, the CMA will be regulating…

The Prime Minister, Najib Mikati, held a series of ministerial meetings at the Grand Serail. In this context, the PM met with Economy and Trade Minister, Amin Salam, to discuss the country’s food crisis. This was in light of the citizens’ mounting fear of a possible shortage of wheat for bread, in Lebanon, a staple necessity. Salam told Mikati that Lebanon only has enough wheat to last for a month or a month and a half at most. Moreover, he confirmed that the Council of Ministers also authorized the Directorate of Grains and Sugar Beets to purchase 50,000 tons of…

The Prime Minister, Najib Mikati, held a series of ministerial meetings at the Grand Serail. In this context, the PM met with Economy and Trade Minister, Amin Salam, to discuss the country’s food crisis, especially in light of the citizens’ mounting fear of a possible shortage of bread wheat in Lebanon. Salam told Mikati that Lebanon only has enough wheat to last for a month or a month and a half at most. Moreover, he confirmed that the Council of Ministers also authorized the Directorate of Grains and Sugar Beets to purchase 50,000 tons of wheat from abroad in order…

A number of national projects in the housing and road sectors were inaugurated by video in Greater Cairo by Egypt’s President Abdel Fattah El-Sisi. The president used his video address from the Sixth of October City to inaugurate housing projects in newly-built cities in Giza to provide thousands of homes for Egyptians. Additionally, the city of Sixth of October is building a health club, as well as several roads and bridges. Egypt has invested more than 400 million Egyptian pounds in new cities around Cairo, including 220 million pounds to upgrade fourth-generation cities. Housing Minister Assem El-Gazzar made the announcement…

In a UN Security Council resolution on Yemen, Egypt condemned the cross-border attacks of the Iran-backed Houthis against civilians and civil infrastructure in Saudi Arabia and the United Arab Emirates (UAE) and called for an immediate ceasefire. The Egyptian Foreign Ministry Spokesperson, Ahmed Hafez, expressed Egypt’s appreciation for the extension of the measures and sanctions imposed by the Security Council resolutions on the Yemeni crisis in an official statement. Egyptian authorities have also welcomed the expansion of the arms embargo on Yemen, as well as condemning attacks on civilian and commercial vessels off Yemen’s coast. Moreover, Hafez said the country…

FIFA and UEFA have announced that, following the initial decisions adopted by the FIFA Council and the UEFA Executive Committee, all Russian teams, whether national representative teams or club teams, will be suspended from participating in both FIFA and UEFA competitions until further notice including the forthcoming FIFA World Cup in Qatar. These decisions were made by the Bureau of the FIFA Council and the Executive Committee of UEFA, respectively the highest decision-making bodies in both institutions. Football is fully united here and in full solidarity with all those affected by the conflict in Ukraine. Both Presidents hope that the…

The Kingdom of Saudi Arabia’s overall merchandise exports increased 62.6% in December 2021 compared to December 2020, when many countries imposed travel bans and lockdowns as a result of COVID-19 issues. According to the General Authority for Statistics (GASTAT), exports amounted to SAR 106.3 billion in December 2021, up from SAR 65.3 billion in December 2020. It was mainly due to higher oil exports, which rose by SAR 30.6 billion, or 65.9%, during the same period. The proportion of oil exports in total exports increased from 71.0% in December 2020 to 72.4% in December 2021. There was a decrease of…

Over 30 senior Saudi manufacturers and exporters in the constructions and foodtuff sectors took part in a commercial mission organized by Saudi Exports Development Authority (SAUDI EXPORTS) today in Oman. This mission targets 70 Omani companies and follows the signing of a memorandum of understanding between the two countries worth USD 30 billion with the aim of enhancing cooperation in a variety of economic fields on the sidelines of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz’s official visit to Muscat in December, 2021. Deputy Secretary General for Strategy and Planning at Saudi Exports Abdulrahman Al-Othman said the commercial…

An exhibition of perfumes, the largest of its kind in the Middle East, opened yesterday in the Riyadh Front area. This is one of the season’s entertainment areas, and will run until March 14. Over 200 brands of luxury perfumes, both Arab and international, participated in the perfume pavilions in the presence of perfume experts and enthusiasts. The exhibition’s activities included holding workshops for the manufacture of perfumes, and offering attendees special discounts and offers. Visitors were able to create their own perfumes among other noteworthy events at the fair. One of the most prominent events in the Riyadh exhibition…