Egypt loans national carrier EgyptAir $191m to finance external debt

Egypt has approved a financing request of EGP 3 billion (about $191 million) by national carrier EgyptAir to be used to pay external debt, reports say. The Central Bank of Egypt will release the funds in form of loan, state-run Read more

Syrian crisis: Washington announces $720 million humanitarian aid

The United States announced on Thursday it would provide more than $720 million in humanitarian assistance for the response to the crisis in Syria. Deputy Secretary of State Stephen Biegun made the announcement on Syria at an event on the Read more

UAE’s largest bank signs MoU with Israel’s leading Bank Hapoalim

Emirates NBD, UAE’s largest lender, Monday inked a Memorandum of Understanding (MoU) with Bank Hapoalim, Israel’s biggest bank, as fruit of normalization between the two countries. The agreement announced by Dubai Media Office, Gulf Business reports, will allow Israeli clients Read more

CEO of the International Banking Group of Kuwait’s National Bank steps down

The National Bank of Kuwait (NBK) has announced in a statement the resignation of Georges Richani, the CEO of the bank’s International Banking Group. Richani resigned for personal reasons, according to the bank. NBK boasts local and international network, which Read more

Dubai-based DP World & Caisse de dépôt et placement du Québec (CDPQ) to inject further $4.5bn in investment platform

Dubai-based, global infrastructure-led supply chain solutions provider, DP World and its Canadian partner Caisse de dépôt et placement du Québec (CDPQ) Wednesday confirmed their plan to increase their investment platform with $4.5 billion. The commitment will bring the total size Read more

Turkey lands World Bank $500m-loan to support firms hit by covid-19 pandemic

The World Bank has approved a $500 million loan to Turkey to support small- and medium-sized enterprises (SMEs) affected by the covid-19 pandemic to keep afloat. The loan to be released under the Turkey Emergency Firm Support Project will be Read more