Abu Dhabi Fund for Development (ADFD) has announced its support for Ethiopian government as it signed with the national bank of the African country an agreement for the allocation of a $3 billion aid to support economic policies and facilitate investment for Emirati companies in Ethiopia. The announcement came following the signing on Friday of […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]