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Jordan: Gulf powers, EU pledge billions in assistance to mute protests

Saudi Arabia, United Arabs Emirates and Kuwait have pledged a $2.5 billion aid package to protests-hit Jordan, while the European Union announced a €20 million support to the Jordanian troubled economy. Saudi Arabia convened Sunday in Mecca an emergency Gulf summit over the social crisis in Jordan. Also in attendance, King Abdallah II received the […]

June 11th, 2018 | Posted in Finance,Gulf News,Headlines,World News | Read More »

EU contributes over €35 million to May salaries and pensions in Palestine

EU contributes over €35 million to May salaries and pensions in Palestine The EU has made a contribution of €35.875 million to the Palestinian Authority’s (PA) payment of 55,000 Palestinian civil servants and pensioners in the West Bank. This contribution is being funded by the European Union (€35.0 million) and the Netherlands (€0.875 million). “The […]

June 7th, 2018 | Posted in Finance,Headlines | Read More »

Qatar successfully adjusting to lower hydrocarbon prices – IMF

Qatar’s economy continues to successfully adjust to lower hydrocarbon prices, despite the “diplomatic rift” weighing on the outlook, the IMF said in a statement Wednesday. “The direct economic and financial impact of the diplomatic rift between Qatar and some countries in the region has been manageable,” said the statement following the Executive Board’s conclusion of […]

May 31st, 2018 | Posted in Finance,Headlines | Read More »

Turkey: Ankara slams US court sentence for banker Mehmet Hakan Atilla

Turkey’s foreign ministry Wednesday rejected the 32-month sentence pressed against state official Hakan Atilla by a US court as an unfair ruling, pointing out that the New York court decision was based on fake evidences provided by supporters of Ankara’s foe, Fethullah Gülen. District Judge Richard Berman of the city of New York ruled 32-month […]

May 17th, 2018 | Posted in Finance,Headlines,World News | Read More »

Kuwait: VAT implementation delayed to 2021

Kuwait is postponing the implementation of Value Added Tax (VAT) to 2021 as authorities prefer for the time being to speed up the selective tax procedures on selected commodities such as tobacco, energy drinks and soft drinks. Unlike its neighbors, Kuwait has decided not to apply the regional 5 per cent taxes on services and […]

May 15th, 2018 | Posted in Finance,Headlines | Read More »

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 »