Latest news with #NadimKawach
Zawya
11 hours ago
- Business
- Zawya
Egypt sets $56mln for power expansion
Egypt has boosted investment in power expansion projects by nearly 20 percent to around 2.8 billion Egyptian pounds ($55 million) during the 2025-2026 fiscal year. The Electricity and Renewable Energy Ministry has allocated the funds for the state-owned South Cairo Electricity Distribution Company (SCEDC). The investments are nearly 20 percent higher than those approved during the 2024-2025 fiscal year and are intended to develop and upgrade networks managed by SCEDC in the capital and other parts of Egypt, the Arabic language daily Addustour said, quoting a Ministry source. 'The projects will be funded through the Company's own resources and they are part of expansion plans to be executed by the Ministry during the coming fiscal year,' it said. The paper noted that SCEDC is one of Egypt's largest public power distribution companies, covering nearly 15 percent of the country's area. Its subscribers increased by nearly 295,000 to reach 6.7 million at the end of 2024. (1 US Dollar = 50.67 Egyptian Pounds) (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
2 days ago
- Business
- Zawya
Jordan reports surge in project spending
Jordan sharply boosted spending on projects in the first four months of 2025 after an increase in revenues, according to the Finance Ministry. The increase boosted overall spending by nearly eight percent to widen the country's fiscal deficit to around 469 million Jordan dinars ($656 million) in the first four months of this year against JOD345 million ($483 million) in the same period of 2024. Revenues grew by about six percent to JOD3,307 million ($4.6 billion) from nearly JOD3,114 million ($$4.3 billion) in the same period, the Ministry said in a report. Actual expenditure rose by around eight percent to JOD3,798 million ($5.3 billion) from about JOD3,520 million ($$4.9 billion) during that period, the report said. The rise followed a surge in capital expenditure of around 34 percent or by around JOD83 million ($116 million) and six percent growth in current spending. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
4 days ago
- Business
- Zawya
Saudi awards tourism city project in Dhahran
Saudi Arabia has awarded a project to build a fun and tourism city in Dhahran as part of a drive to attract investment to the Eastern region. Local press reports said on Sunday that the project, spanning an area of 190,000 square metres, comprises entertainment, tourism, education and sport facilities. Dhahran secretariat has awarded the contract, the latest in a series of projects offered to local and foreign investors to attract capital to the Eastern region with the Gulf Kingdom's Vision 2030 economic transformation scheme. The Arabic language daily Al-Madina, citing a secretariat statement, said there has been a surge in investments in the Eastern province over the past two years. Projects under way in Dhahran and other parts of the province have exceeded 30 billion Saudi riyals ($8 billion), the report said without specifying the contractor for the city project. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
12-06-2025
- Business
- Zawya
Saudi offers fun city, shopping mall projects
Saudi Arabia is offering 17 projects to investors in the Southern Jazan province, including the construction of a fun city and a shopping mall. The projects are located in the south-western Abu Arish city and are part of a drive to attract investment to the province, Jazan's secretariat said. The two projects include construction, operation and maintenance of a fun city and a shopping mall in Abu Arish, it said in a statement. The other projects comprise a hospital, warehouses, a public park, a car park, a pedestrian bridge and the maintenance of shopping malls, it added. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
04-06-2025
- Business
- Zawya
Qatar awarded projects worth $1.7bln in Q1
Qatar awarded projects with a combined value of around 6.4 billion Qatari riyals ($1.7 billion) in the first quarter of 2025, the Finance Ministry has reported. Contracts awarded to foreign companies were valued at nearly QAR1.5 billion ($411 million), the Ministry said on 'X' platform this week. The report showed there was a 50 percent increase in the value of contracts awarded to foreign firms and a 36.8 percent decline in those awarded to local companies. The value of total contracts awarded in the first quarter of this year slumped by nearly 25.5 percent year-on year, the Ministry said. A total 900 contracts were awarded in the first quarter of 2025, covering energy, construction, power, health and other sectors, it said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
