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Business

Focused coverage of the latest developments in Business, in clear language with continuous updates.

Business

Hot money flows in Egypt recorded $702 million during September

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Newsfront X2 دقائقWednesday, 30 September 2026 at 17:09

Business

Fuel, salaries, and services... Details of procedures to rationalize government spending in Syria

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Newsfront X3 دقائقWednesday, 30 September 2026 at 16:08

Business

The launch of the “Ofoq News Economic” platform in the Arabic language

Dubai, United Arab Emirates - The “Ofoq News Economic” platform, “Ofoq News Business Arabic”, was launched on January 15, 2023, managed by the International Media Investments Company (IMI) and in partnership with the commercial division of the Ofoq News International Network (CNNIC), as a digital business platform that provides news, facts and analysis.

Newsfront X1 دقيقةTuesday, 17 January 2023 at 12:37

Business

Apple's CEO agrees to reduce his salary by 40% after the shareholder revolt. How much is he worth?

Dubai, United Arab Emirates - Tim Cook, CEO of Apple, the largest technology company in the world, agreed to reduce his salary by 40%, after a shareholder revolt. Apple said in a statement that it will reduce the targeted salary package for its CEO to $49 million, 40% less than his current salary.

Newsfront X2 دقائقFriday, 13 January 2023 at 23:42

Business

After China... Tesla reduces the prices of its cars in the United States and Europe

Dubai, United Arab Emirates - Tesla reduced the prices of its electric cars in the United States and Europe by up to 20%, expanding its aggressive discounting strategy, after it lagged behind Wall Street's estimates of delivery rates in 2022. This move, which led to a 4% decline in Tesla shares, came...

Newsfront X3 دقائقFriday, 13 January 2023 at 20:49

Business

Egypt.. Significant increases in the prices of goods, cars, and building materials with the decline of the pound against the dollar

Dubai, United Arab Emirates - The prices of basic commodities, building materials, and cars rose in Egypt, as a result of the decline in the price of the pound against the dollar, as the price of a ton of iron rose by 2,500 pounds ($84.61), and cement by 100 pounds ($3.38). The rates of increase in car prices varied between different models

Newsfront X6 دقائقThursday, 12 January 2023 at 23:19

Business

A crisis in food products in Egypt... record prices for poultry, a shortage of oil, and boycott campaigns

Cairo, Egypt - The food products market in Egypt witnessed a significant rise in poultry prices, with the price of a kilo exceeding 60 pounds ($2.02) per consumer, for the first time in history, as a result of the significant increase in feed prices, according to breeders, and the volume of oil supply in commercial chains and stores decreased significantly. In response to

Newsfront X4 دقائقThursday, 12 January 2023 at 08:28

Business

The pound continues its downward journey against the dollar... and records a record level after the IMF agreement

Dubai, United Arab Emirates - The price of the Egyptian pound fell against the dollar by 7.7% during trading on Wednesday, with the green currency recording 29.63 pounds for purchase, and 29.76 pounds for sale at the Central Bank - to record a new record level - and for the pound to continue its decline against the dollar by more than 100% since the decision to reduce...

Newsfront X4 دقائقWednesday, 11 January 2023 at 19:09

Business

M&M Company is making changes to the packaging of its candy products and causing a cultural uproar

NEW YORK, USA - Candy maker M&M'S has made a statement with its latest candy pack, featuring an all-female cast of characters - including Purple, its newest addition, once again putting the company deep into the culture wars controversy. Mars announced the manufacture of...

Newsfront X3 دقائقWednesday, 11 January 2023 at 11:58

Business

Egypt.. The government postpones “dollar projects” to rationalize public spending

Dubai, United Arab Emirates - Egyptian Prime Minister Mostafa Madbouly issued a package of decisions to “rationalize public spending” and postpone “dollar projects,” at a time when the country is facing a tangible shortage of foreign exchange reserves. According to a government statement on Monday, Madbouly’s decisions included postponing the implementation of any new projects that were not completed

نيوز فرونت1 دقيقةMonday, 9 January 2023 at 22:57

Business

These cities are crowded with millionaires. Here are the top 10 cities in terms of the number of millionaires

Dubai, United Arab Emirates - The global citizenship and residency consulting firm, Henley & Partners, revealed a report highlighting high-net-worth population data in the world’s wealthiest cities during the third quarter of 2022. The analysis included more than 150 cities in five regions around the world.

Newsfront X2 دقائقMonday, 9 January 2023 at 14:22

Business

Suez Canal: A sudden technical malfunction in the machinery of the “Glory” ship...and it was towed to the “Al-Balah” area for repair.

Dubai, United Arab Emirates - After news circulated about the grounding of the ship “Glory” in the Egyptian Suez Canal, on Monday, the Suez Canal Authority explained that the ship’s machinery suffered a sudden technical malfunction, while the authority’s tugs rushed to tow it to the “Al-Balah” area to repair the malfunction. Chairman of the Suez Canal Authority, Lieutenant General Osama Rabie, said

Newsfront X1 دقيقةMonday, 9 January 2023 at 12:27

Business

A startup company in Abu Dhabi plans to send quinoa seeds into space.. Why?

Dubai, United Arab Emirates - The climate crisis has greatly affected the cultivation of many food crops, causing some scientists and entrepreneurs to look for solutions outside our planet. Abu Dhabi startup StarLab Oasis, an extension of a Texas company called Nanoracks, wants to grow seeds in space.

Newsfront X4 دقائقSunday, 8 January 2023 at 13:10

Business

Does Saudi Arabia allow the sale of alcohol in duty-free markets at customs ports?

Dubai, United Arab Emirates - On Friday, the Saudi Zakat, Tax and Customs Authority responded to questions about whether the sale of alcoholic beverages would be allowed in duty-free markets at customs ports in the Kingdom, stressing that “their sale is not permitted.” The Zakat, Tax and Customs Authority said on its Twitter account:

Newsfront X2 دقائقFriday, 6 January 2023 at 20:47

Business

It has been called the "Spotify of the Middle East"... What is the next step for Anghami?

Dubai, United Arab Emirates - Anghami describes itself as the largest music streaming app in the Middle East and North Africa region. It was quickly dubbed the “Spotify of the Middle East.”

Newsfront X3 دقائقFriday, 6 January 2023 at 12:56

Business

The head of the Saudi Investment Fund, Yasser Al-Rumayyan, was summoned in the case of Musk’s tweet about “secured financing”

New York, USA - Elon Musk's legal team has summoned the head of the Public Investment Fund of the Kingdom of Saudi Arabia, Yasser Al-Rumayyan, as part of litigation over the Tesla CEO's 2018 tweet and what he said that he was considering taking the car company private and that he had received funding from...

نيوز فرونت2 دقائقFriday, 6 January 2023 at 11:14

Business

The dollar exceeds 27 pounds... and the decline of the Egyptian currency is reflected in the stock market

Cairo, Egypt - The price of the Egyptian pound continued to decline against the US dollar and foreign currencies, on Thursday, as the price of the dollar reached 27.07 pounds for purchase and 27.16 pounds for sale, according to data from the Central Bank of Egypt. Experts attributed the reasons for the pound's decline again to the central bank's adoption of a sustainable flexible exchange rate system, in line with...

Newsfront X4 دقائقThursday, 5 January 2023 at 18:42