News Bites

In This Issue

Today’s issue will take around 5 minutes to read 🤓

Economy

• Following the decline in inflation rates, Egypt is set to decrease interest rates by 2% in the upcoming month. This should encourage more investment in the country, so things could finally be looking up!! 📈

• Just when you thought foreign involvement in the Kingdom couldn’t get any stronger (spoiler: it does!) The IMF just announced a new regional office in Riyadh, cementing its relationship with not just Saudi institutions but also neighboring ones in the region 💪🏾

• The UAE and Ecuador are turning up the heat! Their bilateral relations are taking another economic step ahead by signing the Comprehensive Economic Partnership Agreement. To put it in perspective, non-oil bilateral trade between the countries reached $675 million, 76% more than 2022! 😱

Real Estate

• Qatar’s real estate market is buzzing! In February alone, there was a total of $265 million worth of transactions that occurred. Imagine if we got a condo in Qatar a year ago (p.s. if you did, go0d j0b we ain’t jealous) 👀 🏠

• Excluding independent investors, Spain has invested $3 billion in Saudi Arabian real estate over the last decade. Spanish investments will be helping with the creation of many new homes within the kingdom 💃🏾

• A number of firms are looking to expand their practices within the Middle East, including WSP, a world-renowned leader. The goal is to make investing in real estate in the region super smooth with no hiccups from being off-plan to handover

Arts and Culture

• A statue of the 3rd Pharaoh of Egypt, King Ramses II, which was STOLEN from the ancient city of Abydos 30 years ago…just found its way back home! Egypt worked with Swiss officials where the artifact was tracked down, and it’s now at the Egyptian Museum in Cairo (being restored and not on display yet— man’s been auctioned all around Europe, maybe he needs a touch up) 🫅🏿

• Inspired by her paralyzed father, a Turkish woman has created a doggo train to give pups that can’t walk a fun way to explore the outdoors 🥹 🐶 p.s. The Association of Paws Holding onto Life in Ankara made the train out of recycled containers so 560 pups AND the environment get to be happy 🤩🤩

• The 14th Malmö Arab Film Festival (MAFF) is happening in Sweden until April 28th this week (where our expats at??) You can catch 26 films from Saudi, Egypt, Tunisia and more! Check out the schedule HERE 📽️

Technology

• UAE organizations are diving deep into AI for their cybersecurity game, with 91% using it to tackle threats (like a boss 😎) This is actually a space where AI taking your job is actually filling a talent gap. 85% are still bracing for cyber INSECURITY in the next 12-24 months since dealing with multiple-point solutions is like trying to juggle too many balls, making response time sluggish 😬 What do you think about leveling up cybersecurity?? 🚀🔒

• Get hyped for the first-ever ASPIRE Abu Dhabi Autonomous Racing League (A2RL) happening at Yas Marina Circuit on April 27th! 🚗💨 8 global teams are battling it in a coding-driven, autonomous racing showdown sponsored by ADNOC. With identical Dallara Super Formula SF23 cars hitting speeds up to 300 km/h, it's gonna be lit! Plus, there's a sick Fan Zone for immersive experiences, and you can catch all the action via a live stream during Abu Dhabi Mobility Week 🏁🔥

✨ akhbaar Spotlight ✨

Omar has been moderating a hearing on Columbia University’s suspension of students over pro-Palestine protests, hitting all the right questions to figure out…why is student support so selective? Right after, though, her own daughter was suspended from Columbia. Coincidence…? Shoutout to all the walkouts and peaceful demonstrations for a ceasefire WITHOUT any Jewish or Palestinian hate!

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