العربية
Business

US commits $125m to new economic cooperation agreement with Egypt

The US has pledged $125 million to a new economic cooperation agreement with Egypt, marking the first bilateral Strategic Objective Agreement aimed at enhancing economic ties and supporting initiatives in various sectors such as water management and technology. The agreement seeks to leverage Egypt's strategic advantages to foster private-sector growth and create job opportunities while strengthening mutual prosperity between the two nations.

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Business

Saudi food group Savola’s recurring profit rises 26%

Savola Group reported a 26% increase in recurring net profit, reaching SR500 million ($133.3 million) in the first nine months of 2026, driven by higher food processing volumes and cost management. Despite this growth in recurring profits, net profit attributable to shareholders fell 22.2% to SR530 million, influenced by prior non-recurring gains. Additionally, the company declared an interim cash dividend of SR210 million for the first half of 2026.

Arab News