Bahrain will receive before the end of this year, $2 billion from Saudi Arabia, UAE and Kuwait as part of the $10 billion pledged by the three regional allies to help the tiny kingdom avoid a debt crisis. Two unnamed officials told Reuters that the $2 billion; a portion of last week-pledged $10 billion, will […]
Saudi-based Islamic Development Bank (IsDB) has announced plans to establish next year two funds for a combined value of $1 billion to help upgrade infrastructure in Africa and Asia; two regions where most of the bank’s members are located. The new funds would help close a deficit in investments for projects such as transportation, energy […]
Jordan Thursday received $1 billion in form of aid package from Saudi Arabia, United Arab Emirates (UAE) and Kuwait to support its lame-duck economy. Finance ministers of the three regional donors signed the agreements with Jordan on Thursday in capital Amman. The agreements totaling $1 billion will support Jordan’s budget, finance projects and inject funds […]
The May-announced tie-up between Saudi British Bank (SABB) and Alawwal will take shape after boards of the two banks green-lighted the $5-billion deal. “The combination of SABB and Alawwal bank will create a powerful banking franchise ready to fuel growth in the Kingdom,” said SABB chairman Khaled Suleiman Olayan. “As Vision 2030 transforms Saudi Arabia, […]
Total investment of Swiss companies in Saudi Arabia hit $2.91bln, Saudi authorities announced Thursday. Saudi Arabian General Investment Authority (SAGIA) in a statement noted that most of investments came from 94 firms. These Swiss entities according the SAGIA have pumped $2.91bln in the Saudi economy. The leading Swiss firm, Dhurom company for electricity, has invested […]
Emaar Properties PJSC has debunked Tuesday reports that it will offer future buyers of projects 10-year visa as part of incentives to attract foreign investments. “The issuance of visas falls under the purview of the concerned authorities and Emaar does not have any role regarding the issue,” the company said in a statement seen by […]
Morocco will see returns from a fisheries deal with the EU rise to €52.2 as the two parties concluded negotiations for a new agreement Tuesday in Rabat. The new deal kept unchanged at 128 the number of vessels allowed to fish in Moroccan waters. The amount of the catch was also kept un-changed, the agriculture […]
Bank Alkhair has pulled out of Alkhair capital 10 years after getting 75 per cent of the Turkish investment firm. The Bahraini entity, according to Reuters, received approval to transfer its 95.79 per cent shareholding of Alkhair Capital to Ankara-based A1 Capital. Bank Alkhair acquired Alkhair Capital in 2007 after it bought 75 per cent […]
Morocco and the European Union agreed on the content of the future sustainable fisheries agreement and its implementation protocol, they said in a joint statement, and according to media reports, the deal will be signed in Rabat on Monday (July 23). “The two parties agreed on the provisions and improvements made on the texts to […]
The internationally recognized National Oil Corporation (NOC) Wednesday announced resumption of operation at the country’s four oil terminals after east-based army relinquished control of the ports it seized last month. Khalifa Haftar, head of the so-called Libyan National Army (LNA) Wednesday restored Zueitina, Hariga, Ras Lanuf and Es Sider to Tripoli-based NOC following intense international […]