Egypt’s Thndr Eyeing Saudi License
Egyptian investment platform Thndr is in advanced discussions with Saudi regulators and awaiting final approvals to enter the Kingdom, as it seeks to expand beyond its home market.
The company, which launched operations on the Abu Dhabi Securities Exchange last year, is pursuing licensing in Saudi Arabia and aims to become a leading investment platform across the Middle East and North Africa, executives told Arab News.
No timeline has been set for the launch of operations in the Kingdom as the company awaits the completion of regulatory procedures.
The planned expansion comes as assets on Thndr’s platform surpassed 50 billion Egyptian pounds (~US$960 million), reflecting growing retail investor participation and increasing demand for digital investment products across the region.
“This number is a reflection of people’s hard work, people’s dreams, and people’s futures,” Ahmad Hammouda, co-founder and CEO of Thndr, told Arab News.
“When someone chooses to put part of their savings or investments on Thndr, they deserve to know what we’re working on, where we’re headed, and what’s coming. That’s why we are committed to an annual keynote, to show up for the community that helped us build this,” he added.
Founded in 2020 by Hammouda and Seif Amr, Thndr is among the first fully digital investment platforms in the MENA region. The company holds regulatory licenses from Egypt’s Financial Regulatory Authority and Abu Dhabi Global Market and says it was the first brokerage firm to receive a new brokerage license in Egypt since 2008.
Saudi Arabia has become a key target for regional expansion as the Kingdom accelerates efforts to diversify its economy and strengthen its position as a financial and business hub under Vision 2030.
The government has introduced a series of regulatory reforms, investment incentives and visa changes in recent years, helping attract foreign companies seeking regional expansion opportunities.
More than 700 multinational companies had established regional headquarters in Riyadh by early 2026, surpassing the government's original target of 500 by 2030.
At its annual product showcase in Cairo on June 7, Thndr announced plans to broaden its investment offerings through new gold- and real-estate-focused products, both pending approval from Egypt’s Financial Regulatory Authority.
The company also said it would eliminate commissions on mutual fund investments, a move aimed at reducing costs for retail investors and expanding access to professionally managed investment products.
Thndr also announced a partnership agreement with Visa, Suez Canal Bank and Modupay to develop a future Thndr-branded payment card, pending approval from the Central Bank of Egypt.
10/06/2026
Erbil Chamber in Talks with Czech Agri-Food Companies
A delegation from the Erbil Chamber of Commerce and Industry has held a series of meetings with Czech companies specialising in agriculture and food industries during a visit to Prague. The delegation, led by board member Rashid Mustafa Mirkhan and accompanied by a representative of Aro, met with Jiří Šer, Director of External Affairs and EU Affairs at the Czech Food and Beverage Industry Association and former Deputy Minister of Agriculture.
Discussions covered:
Expanding trade between the Czech Republic and the Kurdistan Region
Development of the agriculture and food sectors in the Region
Transfer of Czech expertise and technology to support agricultural and food industries
Encouraging Czech companies and investors to establish joint ventures in Erbil
At the close of the meeting, Mirkhan extended a formal invitation to a Czech trade and economic delegation to visit Erbil to explore business opportunities and hold bilateral meetings.
10/06/2026
Egypt's Sinai Offshore Fields Post Highest Daily Production Since 2017
Crude oil production from the Sinai Offshore Fields has reached its highest daily level since 2017, with output averaging around 27,000 barrels per day (bbl/d), a milestone that underscores the effectiveness of ongoing efforts to boost output from existing assets and optimize the utilization of Egypt’s petroleum resources, according to the Ministry of Petroleum and Mineral Resources (MoPMR)
The Sinai Offshore Fields are being developed by Italy’s Eni in collaboration with the Egyptian General Petroleum Corporation (EGPC).
This, noted a MoPMR statement, is the outcome of the incentive measures implemented in recent months, foremost among them is the extension of exploration and production agreements, a step that encouraged international companies to inject new investments and intensify drilling and exploration activities.
Eni has recently adopted an ambitious investment program in the Gulf of Suez, Sinai, and the Nile Delta aimed at boosting production and maximizing the value of existing assets.
MoPMR said production rates in the area have climbed more than 50 % since the start of 2025, marking one of the strongest growth rates in decades. The surge comes despite some fields having been in operation for over sixty years, underscoring the impact of modern technical and operational programs designed to boost the performance of mature assets.
The Ministry described this increase as an exceptional achievement compared to the natural decline rates typically expected in producing fields. The production surge generated a surplus exceeding 10,000 bbl/d of oil, contributing to cumulative output of more than 2.8 million barrels since January 2025.
It als noted that the achievement was driven by an intensive production‑enhancement program built on advanced technologies, improved operational efficiency, and minimizing downtime to the lowest levels. The resumption of drilling in 2026 also reinforced output, with wells BM‑133 and 113‑M‑131 delivering more than 3,200 bbl/d of oil with almost negligible water content, significantly bolstering the area’s performance.
In February, Eni announced that it had commenced production from the Sinai well, the Belayim Offshore 133 well (BM-133), at an initial rate of 1,500 bbl/d.
10/06/2026
Asia LNG Demand Recovers from Iran Shock as China Returns to Market
Liquefied natural gas demand in Asia is quietly recovering from the shock of losing almost 20% of global supply to the Iran conflict as top buyer China shows signs of returning to the market.
The biggest-importing region is on track for arrivals of 21.83 million metric tons in June, the most for five months and also up from the 21.55 million tons in the same month last year, according to data compiled by commodity analysts Kpler.
Asia's LNG imports had dropped to a six-year low of 18.74 million tons in April after the effective closure of the Strait of Hormuz, following U.S. and Israeli attacks on Iran on February 28, stopped shipments from Qatar, which shipped 80.9 million tons in 2025.
China only just held onto its status as the world's biggest LNG importer in 2025 as imports dropped to 66.48 million tons, slightly ahead of Japan.
For the first five months of 2026 it seemed certain that China would drop to second place because its utilities steered away from buying spot cargoes as prices surged in the wake of the Iran war.
The price of spot LNG for delivery to North Asia jumped to a three-year high of US$25.30 per million British thermal units (mmBtu) in the week to March 20, up 143% from the US$10.40 that prevailed before the Iran conflict.
Prices subsequently eased to US$16.05 per mmBtu by mid-April, but have since climbed to end at US$18.80 in the week to June 5.
Part of the rise in prices stems from China taking more of the super-chilled fuel, with imports forecast by Kpler to rise to reach 4.48 million tons in June, down slightly from the four-month high of 4.74 million in May.
China's imports in May and June are also well ahead of the 3.78 million tons for March and April's eight-year low of 3.63 million tons.
JAPAN GAINS
However, China's increased appetite for LNG has been more than matched by Japan, which is also on track to see imports rise in June, with Kpler estimating arrivals of 5.33 million tons, a three-month high and also above the 4.91 million tons from June 2025.
South Korea, the third-biggest LNG importer, is forecast to have arrivals of 3.26 million tons in June, down slightly from both May's 3.37 million and 3.48 million in June last year.
The loss of cargoes from Qatar was most felt by South Asian buyers, with India's LNG imports dropping to a three-year low of 1.67 million tons in March.
However, they are expected to recover to 2.09 million tons in June, just behind the 2.11 million from June last year, as India sources LNG from alternative suppliers such as Angola, Nigeria and the United States.
Pakistan, which used to buy almost exclusively from Qatar, has struggled to find alternatives, with June imports expected at just 210,000 tons, with one cargo from Oman and one from Qatar, which has seen a handful of vessels manage to exit the Strait of Hormuz in recent weeks.
Pakistan's imports in June are about one-third of the 620,000 tons from the same month in 2025, but have recovered somewhat from the 10-year low of 70,000 tons in April.
On the supply side, the initial surge of U.S. LNG that headed to Asia in the wake of the start of the war against Iran is starting to ease, with exports of 2.73 million tons in June, down from the record high of 4.07 million in May.
However, U.S. shipments to Asia are still running at rates well above the average of 1.15 million tons in the three months leading up to the attack on Iran.
It appears that U.S. LNG is switching back to Europe, with Kpler estimating exports of 4.99 million tons in June, up from 4.53 million in May, which was the lowest since October 2024. - Zawya
10/06/2026