Japan-Egypt Investment Forum highlights business opportunities in Egypt

Japan-Egypt Investment Forum highlights business opportunities in Egypt
Egypt presented itself as a resilient, climate-smart gateway for Japanese corporations to expand their presence in. (ANJ)
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Updated 19 August 2025

Japan-Egypt Investment Forum highlights business opportunities in Egypt

Japan-Egypt Investment Forum highlights business opportunities in Egypt

TOKYO: The 12th Joint Conference/Japan-Egypt Investment Forum took place in Tokyo on Tuesday with the event highlighting Egypt’s clean energy and agribusiness initiatives.

The meeting was attended by State Minister of Economy, Trade, and Industry Yuichiro Koga, with a keynote speech by Egyptian Prime Minister Dr. Mostafa Madbouly.

Opening and closing remarks were made by Ibrahim El-Araby, Chairman of the Egypt-Japan Business Council, and his counterpart on the Japan-Egypt Business Council Jun Karube.

Egypt presented itself as a resilient, climate-smart gateway for Japanese corporations to expand their presence in the agribusiness sector, with fertile land, year-round production, and growing agro-industrial zones.

It was noted that Egypt is a regional leader in citrus, vegetables, and livestock, and offers direct logistics routes to Gulf, African and European markets.

In terms of clean energy, Egypt has world-class solar and wind zones, and one of the most ambitious green hydrogen agendas in the Global South. Future cooperation with Japanese companies is envisaged in areas such as green hydrogen, ammonia, and advanced energy storage infrastructure.

The Forum highlighted Egypt’s favorable business environment and strategic location at the convergence of Europe, Africa, and the Middle East, as well as Egypt’s industrial zones and manufacturing hubs.


Pakistani business body urges traders to boost security as extortion threats rise in Karachi

Pakistani business body urges traders to boost security as extortion threats rise in Karachi
Updated 5 min 31 sec ago

Pakistani business body urges traders to boost security as extortion threats rise in Karachi

Pakistani business body urges traders to boost security as extortion threats rise in Karachi
  • Traders report receiving extortion notes accompanied by bullets and threats to family members
  • Security experts say organized criminal gangs, not militants, are behind the latest extortion wave

ISLAMABAD: A top business body in Pakistan’s commercial capital, Karachi, has issued an urgent security advisory to its members following a sharp uptick in extortion threats, warning traders to install CCTV systems as cases of intimidation and violence rise across the city.

In a circular dated October 4 and seen by Arab News, the Karachi Chamber of Commerce and Industry (KCCI) said business owners have reported receiving “extortion chits accompanied by bullets, with demands for heavy extortion money,” describing the situation as “extremely alarming.”

“The recordings of such CCTV footage may be shared with KCCI, enabling the Chamber to escalate the matter to the concerned authorities with concrete evidence to ensure swift action and the arrest of those involved in such heinous crimes,” the letter read.

The advisory comes amid growing concerns from Karachi’s trader and industrialist community, many of whom say extortion attempts once quelled by years of security operations have made a troubling comeback in recent weeks.

“There has been a surge in the incidents of extortion in recent weeks, which prompted us to bring the issue to the attention of the authorities as well as alert our members and ask them to install CCTV cameras,” Javed Bilwani, President of

KCCI, told Arab News. “But we believe that the menace of extortion cannot be eliminated until the Safe City project is completed.”

Bilwani said complaints had been received from a broad cross-section of Karachi’s business community, including traders, builders and industrialists, with extortion threats targeting both commercial and residential premises.

“They advised us to issue a circular and raise awareness among our members,” Bilwani said, referring to security officials without naming anyone. “That they should install cameras in their houses, in their businesses, in their industries. Builders should install cameras in their buildings.”

In a video statement shared with the media, Atiq Mir, President of the Karachi Tajir Ittehad (Traders Alliance), warned that Karachi’s merchants were again “at the mercy of extortionists.”

“Most of the shops and shopkeepers are getting calls. Bullets are being wrapped in sheets and sent,” Mir said, adding that the callers even threaten children of members of the business community.

Mir called on senior officials, including the Sindh chief minister and the Inspector General of Police, to take urgent action.

 “In the past, thousands of people left Karachi and went away,” he added. “Even now, it should not be the case that relocation resumes and this city becomes a complete jungle.”

Former senior counterterrorism officer Raja Umar Khattab said authorities must investigate such calls systematically.

“The police should not simply label these incidents as hoax calls. They need to classify and investigate them,” Khattab told Arab News. “Questions the police should ask include how genuine the threat is, how the money was demanded, what was delivered, and what message was received.”

Khattab noted that while modern-day extortionists often operate on a smaller scale than in the past, they still pose a serious challenge.

“Nowadays, they sometimes simulate violence,” he said. “They may show a picture of a bullet to intimidate people.”

According to Khattab, many threats are now issued through WhatsApp using foreign SIMs, especially from Iran and Afghanistan, making them harder to trace.

“Calls from Iranian or Afghan SIMs are hard to stop at the source, but local operatives, the ‘foot soldiers’ who collect money here can be caught.”

He dismissed any current involvement of militant groups, saying the extortion racket is being driven by organized criminal gangs, some led by known ringleaders who have rebuilt networks after being released from jail.

 “These are criminal gangs,” he emphasized. “This is an extortion and organized crime issue, not terrorism.”

A Karachi police spokesperson did not respond to repeated requests for comment.


World Bank raises ’s 2025 growth forecast to 3.2%

World Bank raises ’s 2025 growth forecast to 3.2%
Updated 19 min 49 sec ago

World Bank raises ’s 2025 growth forecast to 3.2%

World Bank raises ’s 2025 growth forecast to 3.2%

RIYADH: The World Bank has raised ’s 2025 economic growth forecast to 3.2 percent, citing stronger oil output and robust non-oil activity, marking a notable upgrade from the 2.8 percent projected in April. 

The Washington-based lender said in its latest Middle East, North Africa, Afghanistan, and Pakistan Economic Update that the Kingdom’s economy expanded 3.9 percent in the first half of 2025, buoyed by increased oil production and sustained growth in services.

The pace is set to quicken further, with growth expected to reach 4.3 percent in 2026 and 4.4 percent in 2027. 

The World Bank’s latest outlook aligns with projections from other institutions. The International Monetary Fund in July forecast ’s economy to grow 3.6 percent this year and 3.9 percent in 2026, while the Organization for Economic Cooperation and Development in September raised its 2026 estimate for the Kingdom to 3.9 percent, from 2.5 percent previously. 

“In , real GDP grew by 3.9 percent during the first half of 2025 and is forecast to grow by 3.2 percent for all of 2025. This is a major increase from the 2 percent growth rate of 2024 — driven by oil production expansion and strong non-oil sector growth, particularly for services,” said the World Bank in the latest report. 

Regional outlook 

Economic growth in the Middle East region is projected to expand by 2.8 percent this year, 0.2 percentage points higher than the forecast made in April. 

Across the Gulf Cooperation Council region, overall growth is expected to reach 3.5 percent in 2025, 0.3 percentage points higher than the previous estimate. The bloc’s economy is projected to expand by 4.4 percent in 2026 and 4.7 percent in 2027. 

The World Bank noted that GCC countries will benefit from the gradual phasing out of voluntary oil production cuts and continued growth in non-oil industries. 

“Oil-importing countries are also expected to see economic improvements, thanks to private spending and investments as well as a rebound in agriculture and tourism,” the report added. 

In September, ’s Ministry of Tourism announced that the Saudi Summer program welcomed more than 32 million domestic and international tourists, up 26 percent from the 2024 season. Tourist spending reached SR53.2 billion ($14.2 billion), marking a 15 percent year-on-year increase. 
 
The report also projected the UAE’s GDP to grow by 4.8 percent this year, accelerating to 5 percent in 2026 and 5.1 percent in 2027.

Qatar’s economy is forecast to expand by 2.8 percent in 2025, while Bahrain and Kuwait are expected to grow 3.5 percent and 2.3 percent, respectively. Oman’s GDP is set to rise 3.1 percent in 2025 and 3.6 percent in 2026. 

is also expected to maintain a healthy inflation rate of 2.3 percent in 2025 and 2.2 percent in 2026. Inflation in the wider Middle East and North Africa region is projected to remain contained at 2.3 percent in both years. 

Labor market and reforms 

The World Bank emphasized that countries in the MENAAP region could enhance living standards by tapping into the full potential of their workforce, particularly through greater female labor force participation. 

has made notable strides in this area, steadily diversifying its workforce. In October 2024, Finance Minister Mohammed Al-Jadaan said the Kingdom aims to achieve 40 percent female workforce participation by the end of the decade, having already surpassed its Vision 2030 target of 30 percent. 

The report noted that has recorded one of the world’s fastest gains in women’s workforce participation, rising nearly 14 percentage points between 2017 and 2023. 

“The surge was evident across all age groups, and gains were especially pronounced among groups of women who historically had low participation and represented a small share of the labor force,” the World Bank noted. 


Pope Leo to visit Turkiye, Lebanon in November in first trip abroad

Pope Leo to visit Turkiye, Lebanon in November in first trip abroad
Updated 7 min 20 sec ago

Pope Leo to visit Turkiye, Lebanon in November in first trip abroad

Pope Leo to visit Turkiye, Lebanon in November in first trip abroad
  • Traveling abroad has become a major part of the modern papacy, with popes seeking to meet local Catholics, spread the faith, and conduct international diplomacy

VATICAN CITY: Pope Leo will travel to Turkiye and Lebanon in late November, the Vatican announced on Tuesday, in the first visit outside Italy by the new leader of the 1.4-billion-member global Catholic Church.
Leo, the first US pope, will visit Turkiye from November 27-30 before heading to Lebanon from November 30 to December 2, where he is expected to speak about the plight of Christians in the Middle East and to make appeals for peace across the region.
Leo was elected by the world’s Catholic cardinals on May 8 to replace the late Pope Francis, who had planned to visit both countries but was unable to go because of health issues.
The pope is expected to meet in Turkiye with Patriarch Bartholomew, spiritual leader of the world’s 260 million Orthodox Christians, for celebrations of the 1,700th anniversary of a major early Church council, which took place in Nicaea, now called Iznik.
“It is profoundly symbolical that Pope Leo ... will visit (the patriarch) on his first official journey,” Rev. John Chryssavgis, an adviser to Bartholomew, told Reuters.
“Pope Leo is doubtless seeking to express and affirm his identity as a Christian in a world of many different creeds, where all people, regardless of religion and race, are called to live together in mutual understanding,” said the priest.
Traveling abroad has become a major part of the modern papacy, with popes seeking to meet local Catholics, spread the faith, and conduct international diplomacy.
A new pope’s first travels are usually seen as an indication of the issues the pontiff wants to highlight during his reign.
Leo had been expected for months to travel to Turkiye for his first trip abroad, but the additional visit to Lebanon only emerged in discussions in recent weeks.
Vatican officials say the pontiff wants to make appeals for peace and commemorate the 2020 chemical explosion at the Beirut port that killed 200 people and caused billions of dollars worth of damage.


Bahrain’s economy grows 2.5% in Q2 as non-oil sectors lead expansion

Bahrain’s economy grows 2.5% in Q2 as non-oil sectors lead expansion
Updated 07 October 2025

Bahrain’s economy grows 2.5% in Q2 as non-oil sectors lead expansion

Bahrain’s economy grows 2.5% in Q2 as non-oil sectors lead expansion

RIYADH: Bahrain’s economy expanded 2.5 percent year on year in the second quarter of 2025, fueled by robust non-oil activity that continued to anchor growth, official data showed. 

The Information and eGovernment Authority and the Ministry of Finance and National Economy reported that non-oil sectors grew 3.5 percent, accounting for over 85 percent of real gross domestic product, the Bahrain News Agency reported. 

Bahrain’s performance builds on reforms under the Economic Recovery Plan, launched in October 2021 to accelerate post-pandemic growth and fiscal sustainability as part of the Economic Vision 2030 strategy. 

It also aligns with broader regional trends, as Gulf economies sustain steady non-oil expansion. 

“The Kingdom continues to achieve notable progress in international economic and development indicators, reflecting the success of its economic diversification strategies and efforts to enhance the business environment,” BNA reported. 

The latest figures showed that professional, scientific, and technical services led the upturn with a 12 percent increase, followed by wholesale and retail trade up 6.7 percent, and real estate rising 4.7 percent. 

Accommodation and food services advanced 4.6 percent, while gains were also recorded in information and communications, construction, finance, and manufacturing, underscoring broad-based momentum outside hydrocarbons. 

Foreign investment indicators strengthened alongside output. Inward foreign direct investment stock increased 5.4 percent year on year in the second quarter of 2025 to 17.5 billion Bahraini dinars ($46.4 billion), reflecting continued capital inflows into the non-oil economy. 

The second quarter’s growth builds on a solid first-quarter outturn, when Bahrain’s real GDP rose 2.7 percent year on year, underpinned by a 2.2 percent expansion in non-oil activity and a 5.3 percent rise in oil output, according to official data. 

In nominal terms, GDP increased 3 percent, with the non-oil and oil sectors up 2.8 percent and 4.6 percent, respectively. Non-oil industries remained the economy’s anchor, contributing 84.8 percent to real GDP. 

Bahrain ranked first among Arab countries in Gallup’s Global Safety Report 2025 Law and Order Index, with 90 percent of respondents reporting feeling safe at night. 

The country recorded the largest improvement in the North Africa and Western Asia region in the Global Innovation Index 2025, climbing 10 places. 

It also ranked fifth in the 2025 Greenfield FDI Performance Index and fifth in the Finance Skills Indicator in the IMD World Talent Ranking. 

Across the Gulf in the second quarter of the year, ’s GDP rose 3.9 percent year on year, Abu Dhabi’s economy grew 3.8 percent, driven by a 6.6 percent rise in non-oil sectors, and Oman recorded 2.1 percent growth, supported by diversified activity — highlighting continued regional momentum in economic diversification efforts. 


Pakistan confirms release of ex-senator captured by Israel in Gaza aid flotilla raid

Pakistan confirms release of ex-senator captured by Israel in Gaza aid flotilla raid
Updated 07 October 2025

Pakistan confirms release of ex-senator captured by Israel in Gaza aid flotilla raid

Pakistan confirms release of ex-senator captured by Israel in Gaza aid flotilla raid
  • Deputy PM Ishaq Dar says Mushtaq Ahmed Khan is safe at the Pakistan embassy in Jordan
  • Islamabad thanks all friendly nations who assisted Pakistan in securing ex-senator’s release

ISLAMABAD: Deputy Prime Minister Ishaq Dar said on Tuesday former senator Mushtaq Ahmed Khan had been released and moved safely to the Pakistan embassy in Jordan after being detained by Israeli forces during the interception of an aid flotilla bound for Gaza.

The Global Sumud Flotilla, which carried activists from several countries, was stopped by Israeli naval forces last week as it sailed toward Gaza to deliver humanitarian assistance. The operation led to the detention of hundreds of participants, sparking protests in several countries, including Pakistan, and prompting diplomatic appeals for their release.

Khan was among those on board the convoy, which departed from European ports carrying medical supplies and food for civilians in Gaza, where the humanitarian crisis has deepened amid months of Israeli bombardment and aid restrictions.

“I am pleased to confirm that former Senator Mushtaq has been released and is now safely with Pakistan Embassy in Amman,” Dar said in a post on X.

“He is in good health and high spirits,” he added. “The embassy stands ready to facilitate his return to Pakistan in accordance with his wishes and convenience.”

Dar extended his gratitude to friendly nations that actively engaged and assisted the government in its efforts to secure the ex-senator’s release.

In a video posted on X after his release, Khan said he had arrived in Jordan with about 150 companions after being held in Israeli detention for five to six days.

“During this time, our hands were cuffed behind our backs, chains were fastened around our legs, our eyes were blindfolded, dogs were set upon us, guns were aimed at us and we were subjected to brutal torture,” he said.

“We went on a three-day hunger strike to press our demands, with no access to fresh air, drinking water or medicine,” he continued, vowing not to give up his struggle for Palestinian independence.

Khan said the group would keep trying to break Israel’s aid blockade and continue efforts to help Gaza, adding that he would share details of the flotilla raid and his detention in Israel after returning to Pakistan.

The flotilla incident has drawn international condemnation, with rights groups calling for the immediate release of detainees and renewed humanitarian access to Gaza.

On Sunday, thousands of pro-Palestinian demonstrators rallied in Pakistan’s eastern city of Lahore to protest Israel’s interception of the aid convoy, condemning what they described as threats to Palestinian land and rights.

The flotilla comprised 40 civilian boats carrying about 500 parliamentarians, lawyers and activists, including Swedish climate campaigner Greta Thunberg, who was also released on Monday.