Food prices are projected to increase by another 14 percent in 2022, after hitting historic highs in 2021, said the IMF (International Monetary Fund). In its latest World Economic Outlook, the international agency noted that the commodity markets in the Middle East and North Africa are being impacted by the Russia-Ukraine war inflation, with prices … Read more
KARACHI: United Bank Limited (UBL) has partnered with Visa to drive fintech enablement in Pakistan by becoming the first “Visa Ready BIN Sponsor” in the region, a statement said on Tuesday. This development is a first for the MENA (Middle East and North Africa) region, and third in the CEMEA (Central and Eastern Europe, the … Read more
RIYADH: Sanabil Investments, wholly owned by the Public Investment Fund, and 500 Global, a leading global venture capital firm has unveiled 11 startups in the second batch of the Sanabil 500 MENA Seed Accelerator Programme 2021, Arab News reported. Female founders lead a third of the batch, signaling 500 Global’s commitment to continue supporting diversity. The program … Read more
DUBAI: Global food and beverage giant PepsiCo is calling Middle East and North Africa-based entrepreneurs to join its sustainability-focused accelerator programme, Arab News reported. The programme, which was first launched in 2017, will deploy up to 1.1 million dirhams ($300,000) to startups who will meet the criteria, Eugene Willemsen, chief executive officer of PepsiCo Africa, Middle East, … Read more
Inflation is slowing down across MENA countries and should decelerate next year, Arab News quoted a report by Capital Economics. The economic research company reached this conclusion after the PMI surveys for September revealed a fall in the output prices components in the region. The Capital Economics noted the recent increase in inflation in the region … Read more
DUBAI: Harnessing science, technology and innovation will be key to ensuring sustainable, inclusive and resilient food systems by 2030, Arab News quoted experts, as saying, ahead of September’s UN Food Systems Summit in New York. However, much needs to be done to ensure the world is prepared to feed a population that is projected to grow from … Read more
RIYADH: Dubai-based Al Khaleej Sugar Co., owner of the world’s largest sugar refinery has won approval to build a factory in Spain, extending its reach beyond the MENA region, Bloomberg reported as saying. The company plans to start construction of the plant in Merida next year, said managing director Jamal Al Ghurair. The agreement between … Read more
American Professional Wrestling company WWE has made a historic move by announcing the appointment of first Muslim vice president and general manager. Media reports said, Bandar Al-Mashhadi will lead WWE’s strategic business initiatives and day-to-day operations in Middle East and North Africa (MENA) region. Al-Mashhadi will work with partners across all of WWE’s lines of … Read more
