Fuel and energy prices in Egypt have increased significantly on Thursday as the country deals with its economic and financial crisis triggered by the mass protests that brought an end to the government of Hosni Mubarak and a coup d’état to Mohamed Morsi. An increase in prices was expected following the $12 billion loan from […]
Governor of Qatar’s Central Bank Sheikh Abdullah bin Saud Al-Thani has released a statement underlining that the ongoing diplomatic rift between Doha and its neighboring Gulf States has not affected its usual operations. “The banking transactions and procedures in the State of Qatar continue to be normal, both at the level of local financial transactions […]
Bahrain Central Bank has ordained all banks operating in the tiny kingdom to freeze assets of the 12 organizations and 59 people put on the Qatar-linked terror blacklist. “The central bank issued a directive to all the financial institutions licensed in the kingdom of Bahrain to freeze accounts, cash, deposits, investments, insurance policies and all […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]