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Morocco’s King, Congo’s President Launch Construction Works of Fishing Facility in Yoro Port

King Mohammed VI, who is on a friendly and working visit to the Republic of Congo, held tête-à-tête talks with President Sassou N’guesso in Brazzaville on Monday (April 30). The two Heads of State later on proceeded to the launch of the construction works of a fishing unloading site at the port of Yoro in […]

April 30th, 2018 | Posted in Finance,Headlines,World News | Read More »

Gulf Crisis: Al Khalij Bank envisaging sale of businesses in France, UAE

Qatar’s Al Khalij Bank is mulling plans to sell its branches in France and the United Arab Emirates (UAE) as the institution faces tough legal environment in the region amid diplomatic crisis that has engulfed the tiny Gulf country and its neighbors led by Saudi Arabia. Bloomberg, citing sources who did not want to be […]

April 27th, 2018 | Posted in Finance | Read More »

Morocco confident in sealing mutually beneficial fisheries deal with EU

Morocco and the EU started on Thursday negotiations to reach a new mutually beneficial fisheries agreement, said minister of Agriculture, Fisheries, Rural Development, Waters and Forests, Aziz Akhannouch. “Morocco and the EU will start a new phase and I hope that the negotiations will culminate in a mutually beneficial agreement that respects the commitments of […]

April 20th, 2018 | Posted in Finance,Headlines,World News | Read More »

IMF Urges Cash-strapped Tunisia to Weaken Dinar

Reviving the Tunisian economy and boosting exports requires weakening the dinar, IMF officials in Tunis told Bloomberg. The call comes as Tunisia struggles with falling foreign exchange reserves, which plummeted to $4.6 billion, enough to cover just 78 days of imports The Tunisian economy relies on tourism, a sector that was hard hit by the […]

April 6th, 2018 | Posted in Finance,Headlines | Read More »

Egypt: Al-Futtaim group to increase investment in Festival City Mall

The Dubai-based group Al-Futtaim has decided to multiply nearly two-fold its investment in Cairo Festival Mall from an original investment ranging between $850.8 and $964.2 million. The revaluation has been announced by the group managing director Ashraf Ezzeldin at a news conference Tuesday. Al-Futtaim has embarked on the development of Cairo Festival Mall; a mixed-use […]

March 21st, 2018 | Posted in Finance,Headlines,World News | Read More »

Saudi billionaires excluded in Forbes’s World Richest Arabs

For its 2018 ranking of the World Richest Arabs, the US-based Forbes Magazine has not included Saudi billionaires in the wake of the November anti-graft purge, which saw dozens of Saudi business tycoons locked up for several months The 2018 ranking, which the magazine says is based on stock prices and exchange rates from February […]

March 8th, 2018 | Posted in Finance,Headlines | Read More »

Saudi Crown Prince shows generosity during first visit to Egypt

Saudi Arabia’s Crown Prince Mohammed Bin Salman showed generosity during his first visit to Egypt Sunday as the two nations have signed agreements to activate a 60 billion Saudi riyal ($16 billion) investment fund, agreed upon in 2016. The Crown Prince and President Al-Sisi have also set up a joint fund to develop the planned […]

March 5th, 2018 | Posted in Finance,Headlines | Read More »

UAE Offers $2 mln to Avert Shutdown of Gaza Hospitals

Gaza hospitals will be able to offer health services after the United Arab Emirates donated $2 million in support of a UN program, supplying electricity to hospitals across the strip, the Abu Dhabi-based official news agency said. The UAE announced the donation after a WHO official warned that fuel for backup generators in Gazan hospitals […]

February 8th, 2018 | Posted in Finance,Headlines | Read More »

KSA: PIF to invest $500m to acquire ‘10 per cent’ of Hollywood agency

Saudi Arabia’s gigantic Public Investment Fund (PIF) is eyeing 5 to 10 per cent of stakes in Endeavor, the holding managing Hollywood talent agency WME, for an investment to exceed $500 million in the end, reports say. According to Bloomberg, which cited anonymous sources aware of the matter, the PIF is in talks with the […]

January 17th, 2018 | Posted in Finance,Gulf News,Headlines | Read More »

UAE Government taken aback for appearing in EU tax blacklist

The UAE government Thursday expressed surprise at its presence on the European Union’s black list of countries considered tax-havens, although it aligns with the block’s transparency standards. EU countries Tuesday published a list of 17 countries, including the United Arab Emirates (UAE), Bahrain and Tunisia, which promote tax avoidance. Countries on the black list could […]

December 8th, 2017 | Posted in Finance | Read More »