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Palestine projects to issue digital currency to circumvent Israel’s control

West Bank-based Palestine’s Monetary Authority (PMA) has indicated that leaders are mulling plans to issue a Palestinian digital currency in five–year time as a move to skirt around Israel’ powerful control over Palestinian economy. Azzam Shawwa, head of the institution noted that the move gives more control to Palestinians over supply and inflation. “That is […]

May 15th, 2017 | Posted in Finance,Headlines | Read More »

UAE: FDI in real estate on upwards trend

Foreign Direct Investment (FDI) in United Arab Emirates’ real estate industry has soared by 25 per cent reaching a record $6.54 billion last year. The increase in the sector has also caused increase of total FDI, which hit the $25.86 billion thresh-hold. The lucrative construction sector has therefore increased its contribution to gross domestic product […]

May 15th, 2017 | Posted in Finance,Gulf News,Headlines | Read More »

Morocco’s Attijariwafa bank group takes full control of Barclays Bank Egypt

Morocco’s leading Attijariwafa bank group has taken full control of British Barclay’s Egypt branch. The transaction was completed Wednesday, Moroccan online media challenge.ma notes citing the bank. The Moroccan bank in October bought Barclay’s Egypt Branch beating several global bank groups, among which Emirati NBD. The deal was estimated at $400 million. With this new […]

May 4th, 2017 | Posted in Finance,Headlines | Read More »

Tunisian PM Sacks Finance Minister

Tunisia’s Prime Minister Youssef Chahed on Sunday replaced his Finance Minister as opponents in the North African nation accuse her for the sharp fall of the local currency and slow progress in economic reforms. The prime minister replaced Finance Minister Lamia Zribi with Minister of Investment Fadhel Abd Kefi, without giving a reason for the […]

May 1st, 2017 | Posted in Finance,Headlines | Read More »

Tunisia: FDIs record 18% increase in Q1 2017

Foreign direct investments (FDIs) in Tunisia rose 18% to $177.68 million during the first quarter of 2017, as compared to the same period the year before, according to Eco Fin agency, which mentioned statistics released by the Tunisian Foreign Investments Promotion Agency. Manufacturing and services topped the sectors that captured most foreign investments, attracting respectively […]

April 27th, 2017 | Posted in Finance,Headlines | Read More »

World Bank Expects 2.6 % Growth in 2017 in MENA region

The economies in the region of North Africa & Middle East will grow by 2.6 percent in 2017, down from 3.5 pc posted in 2016, according to the World Bank’s semi-annual MENA Economic Monitor report. But after 2017, thanks to the reforms engaged, the situation is expected to improve slightly and growth could exceed 3 […]

April 20th, 2017 | Posted in Finance,Headlines | Read More »

PM Chahed: Tunisian Economy growing but fragile

Prime Minister Youssef Chahed has assured dismayed Tunisians that the economy is on its path to revival with growth registered in the tourism, a good agricultural season expected while the production of phosphate has also increased. His statement on state television on late Sunday night was in response to the demonstrations led by youths in […]

April 18th, 2017 | Posted in Finance,Headlines | Read More »

Bahrain: IMF warns about urgent adjustments

At the end of consultations with Bahraini authorities, the International Monetary Fund (IMF) has stated that “a sizeable fiscal adjustment is urgently needed to restore fiscal sustainability, reduce vulnerabilities, and boost investor and consumer confidence.” The warning comes as Manama continues to struggle with the low oil and gas prices. IMF pointed out that tax […]

April 12th, 2017 | Posted in Finance,Headlines | Read More »

Qatar gives UK a hopeful Brexit trade cooperation

Sheikh Abdullah bin Nasser, Qatari Prime Minister and Interior Minister, told participants at the Qatar-UK Business and Investment Forum that the Gulf State has “great confidence” in the United Kingdom and that this will be expressed though “investments over the next decade.” Qatar intends to invest around £5 billion within the next decade and its […]

March 29th, 2017 | Posted in Finance,Headlines | Read More »

Lebanon: Budget draft gets cabinet support, heads to parliament

The Lebanese cabinet approved a budget plan for 2017 and the draft will be forwarded to the parliament for ratification. Details of the draft budget will be revealed by the Finance Minister on Thursday but Foreign Minister Jebran Bassil hinted that “new elements to promote tax justice and abolish protected monopolies were introduced.” Tax reforms […]

March 28th, 2017 | Posted in Finance,Headlines | Read More »

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