The MENA banking sector has experienced a significant boost in net profits, with a 30% annual increase in the first half of 2023. This growth can be attributed to the rising demand for loans and the region's efforts towards economic diversification [e21d4aae]. In line with this, BeiGene, a global biotechnology company, has expanded its presence in the MENA region by opening an office in Dubai, United Arab Emirates [a5f5e7c4]. The office, located in Dubai Science Park, will house BeiGene's administrative, commercial, and medical colleagues. Dubai Science Park is committed to making a meaningful impact in cancer treatment and fostering partnerships in the healthcare and biotechnology sectors [a5f5e7c4]. Crown Prince Mohammed bin Salman has also launched a company for the development of the Abha Valley project in the Asir region, aiming to attract local and international visitors and create opportunities in various sectors [e21d4aae].
In other news, Capgemini Egypt, led by CEO Hossam Saif Al-Din, is exclusively exporting its services to countries in Europe and the Middle East. The company plans to establish a similar presence in Egypt as its parent company in India, which employs over 100,000 individuals. Capgemini Egypt is exploring partnerships with universities to provide education and training opportunities for students. The company aims to increase its current employee count of 350 to 3,000 within the next three years. Capgemini Egypt leverages artificial intelligence to serve clients in sectors such as payments, electronic collections, and automotive, and plans to expand its services to include human resources operations. The company has acquired a 10,000-square-meter office space in Cairo Festival City's Fifth Settlement. Capgemini Egypt emphasizes its multilingual operational focus, with a particular emphasis on Arabic for the Gulf region, as well as English, French, and German [748027ab].