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Energy

Saudi Arabia discovers new natural gas fields

by WAYA Staff - Feb 28, 2022
Saudi Arabia discovers new natural gas fields

Aramco discovered new natural gas fields in four major areas in Saudi Arabia including the Empty Quarter according to the Saudi Ministry of Energy’s statement.

The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.

Saudi Arabia aims to increase its production of natural gas, to replace crude oil and fuel oil, in order to meet the increasing consumption of electricity and make more crude oil available for export.

Also read: Aramco’s market value closes on $2.24 trillion

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OPay opens its first store in Egypt

by WAYA Staff - Feb 28, 2022
OPay opens its first store in Egypt

OPay Egypt, FinTech and e-payments company, has announced the opening of its first OPay store in Egypt to offer all the company’s services and products for individuals and corporates. The move comes as part of OPay’s expansion plan in the...

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Ukraine receives donations over $10m in crypto

by WAYA Staff - Feb 28, 2022
Ukraine receives donations over $10m in crypto

On Saturday, the official Twitter account of the Ukraine government posted a tweet asking people to donate to two cryptocurrency wallets. Ukraine’s government has raised more than $10m in cryptocurrency donations, according to blockchain analytics firm Elliptic. Total crypto donations...

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Europe uses the Swift as an economic weapon against Russian banks

How will this ban affect Russia?
by Nouran Allam - Feb 28, 2022
Europe uses the Swift as an economic weapon against Russian banks

With the escalation of the current events between Ukraine and Russia, the United States, Canada and a number of European countries announced their support for banning some Russian banks from the Swift.  What is the Swift system and how will...

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Milezmore raises $5m pre-seed round from Brimore

by WAYA Staff - Feb 28, 2022
Milezmore raises $5m pre-seed round from Brimore

Milezmore, a startup that provides cloud fulfillment, last-mile delivery, and customizable operations solutions raised $5m from Brimore, a social commerce platform. In the span of one year, Milezmore experienced tremendous growth and built an infrastructure reaching a warehousing area of...

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Grand Egyptian Museum to be Egypt’s first eco-friendly museum

by WAYA Staff - Feb 28, 2022
Grand Egyptian Museum to be Egypt’s first eco-friendly museum

The Ministry of Tourism and Antiquities and the National Center for Housing and Building Research announced that the Grand Egyptian Museum (GEM) and all its buildings will be green buildings. This will provide environmental, economic and cultural sustainability, and make...

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Milango acquires its local rival Circle

by WAYA Staff - Feb 28, 2022
Milango acquires its local rival Circle

Milango, community management software provider, backed by A15, has acquired local rival Circle, a 500 Startups-backed company. The acquisition will help Milango increase its market share and further solidify its position as the premium community management solution in the region....

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Funding Souq raises $2.5m in a seed round

by WAYA Staff - Feb 27, 2022
Funding Souq raises $2.5m in a seed round

Saudi Arabia-based crowdfunding platform Funding Souq has closed a $2.5m seed round with contributions from various angel investors. Founded in 2020, Funding Souq is a platform that connects investors with established SMEs who are looking to borrow between $20k-150k. Investors...

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Aramco’s market value closes on $2.24 trillion

by WAYA Staff - Feb 24, 2022
Aramco’s market value closes on $2.24 trillion

Saudi Aramco’s became the second-largest valued company in the world after Apple. Aramco currently values at $2.24 trillion while Apple is valued at $2.6 trillion. This came as Aramco’s shares rose to the highest level since listing, the share is...

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