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Middle East

Hussain Sajwani

Dubai Billionaire Hussain Sajwani Believes Foreign interference in Middle East Is Destabilising Region

Foreign interference is destabilising countries across the Middle East, and it is one of the biggest challenges for the region as political parties become “puppets” to foreign countries, said Hussain Sajwani, chairman of Damac Properties. “The problem in the Middle East is that when there is a democracy, there are 10 different political parties; and …

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King Mohammed VI

Morocco’s King Congratulates Spanish PM For Winning Parliament Vote Congratulates Spanish PM For Winning Parliament Vote

Morocco’s King Mohammed VI sent a message of congratulations to Spain’s caretaker socialist PM Pedro Sanchez for winning a confidence vote in parliament, enabling him to govern in coalition with far-left Podemos. According to the North Africa Post, the Sovereign wished success to Mr. Sanchez in his mission to meet the Spanish people’s aspirations for …

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Issad Rebrab

Algerian Billionaire Issad Rebrab Freed After Conviction Over Crimes

Algerian billionaire Issad Rebrab, head of Cevital, walked free on time served early on Wednesday after a court sentenced him to six months for tax, banking and customs offenses. According to The National, prosecutors had sought a one-year prison sentence for the 74-year-old head of Algeria’s biggest privately owned conglomerate Cevital, who was one of …

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Mohammed Al-Amoudi

Saudi Billionaire Mohammed Al-Amoudi To Construct $126 Million Edible Oil Factory

Saudi billionaire Mohammed Al-Amoudi is constructing a multi-million dollar edible oil-processing factory in Addis Ababa, Ethiopia in partnership with the Ethiopian government. According to a news report by the Ethiopian News Agency, Mohammed Al-Amoudi, who is the owner of Midroc Ethiopia, the country’s leading conglomerate, is investing $126.2 million in the construction of the new …

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Issad Rebrab

Algerian Billionaire Issad Rebrab Stands Trial In Graft Probe

Algerian billionaire Issad Rebrab, the founder and chairman of Cevital, went on trial on Tuesday in Algiers on allegations of tax evasion, banking and custom crimes. Rebrab, 75, was among some prominent Algerian tycoons who were arrested in April as part of a corruption probe following the resignation of former Algerian president Abdelaziz Bouteflika after …

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Sheikh Hamad bin Jassim Al Thani

Billionaire Sheikh Hamad bin Jassim Al Thani Sells British Hotels To Amir Dayan For $333 Million

Qatari Billionaire Sheikh Hamad bin Jassim Al Thani, the former Prime Minister, is selling off two London hotels for $333 million. According to a report by Bloomberg, Sheik Hamad’s family office will be selling the Sanderson and St. Matins Lane hotels to Vivion Investments, a Luxembourg-based real estate investment firm owned by Israeli magnate Amir …

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Noor Al Fardan

Arab Billionaire Couple Haytham Al Tajir And Noor Al Fardan Spend $5 Million In Divorce Legal Fees

An Arab billionaire couple Haytham al Tajir, 45, and Noor Al Fardan, 32, who have spent close to three years secretly battling it out in Britain’s divorce courts have seen their legal costs jump to close to $5 million. The Daily Mail reports that Haytham al Tajir, who is the youngest son of a Dubai …

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Aziz Akhannouch

Moroccan Billionaire Aziz Akhannouch Under Attack For Disparaging Comments

Moroccan billionaire Aziz Akhannouch has been criticized for a disparaging statement he recently made about Moroccans by the Kingdom’s former Head of Government, Abdelilah Benkirane. Earlier this month, Akhannouch criticized Moroccans for not respecting the Moroccan state and its institutions enough, saying that some Moroccans should be “disciplined.” The statement drew the ire of Moroccan …

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Samih Sawiris

Billionaire Samih Sawiris Acquires German Thomas Cook Franchise

Egyptian billionaire Samih Sawiris has acquired the Thomas Cook franchise in Germany. According to a news report by Egypt Independent, Sawiris acquired the franchise through his Raiffeisen Touristik Group, after the British company declared bankruptcy in September following a sharp drop in revenues. The deal reportedly includes the transfer of hundreds of travel agencies to …

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