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Egypt eyes good economic performance for 2020/2021

Egypt targets a growth rate of 6.4 percent during the fiscal year 2020/2021. The information was given by the Minister of Finance, Mohamed Ma’it, on November 11 and reported by egypttoday.com. According to the media, Ma’it also declared in the preliminary statement for the next fiscal year, that the government aims to reduce the overall […]

November 12th, 2019 | Posted in Finance,Headlines,World News | Read More »

Egypt: World Bank forecasts economy to grow by 5.8%

The World Bank forecasts Egypt’s economy would grow by 5.8% this fiscal year. The projection is lower than the government’s target of 6-7%. In a country note released last weekend, the World Bank inched up its growth estimate for Egypt’s gross domestic product (GDP) in the last fiscal year to 5.6% from 5.5%, matching the […]

October 15th, 2019 | Posted in Finance,Headlines,World News | Read More »

Banks should help youth and SMEs access loans- Moroccan King says

King Mohammed VI stressed the social role that Banks and financial institutions have to play in supporting Morocco’s development efforts through notably facilitating access of young graduates and SMEs to funding. The King insisted, in a speech at the opening of the Parliament’s fall session, that banks and financial institutions should be at the heart […]

October 11th, 2019 | Posted in Finance,Headlines,World News | Read More »

KSA: Russia’s sovereign wealth fund sets up office in Riyadh

Russia’s sovereign wealth fund has opened an office in the kingdom, a move Moscow describes will boost cooperation in a wide range of areas. The opening of the Russian Direct Investment Fund (RDIF) office is coming few days before the expected visit of the Russian leader, Vladimir Putin. The Russian President should visit the Gulf […]

October 9th, 2019 | Posted in Finance,Gulf News,Headlines,World News | Read More »

KSA: Stock exchange Tadawul gets approval to list foreign companies for first time ever

Saudi Arabia’s stock exchange Tadawul has received the approval to list foreign companies operating in the kingdom or in the region, Trade Arabia reports. The Capital Market Authority, the Bahrain-based media reports, has approved the new listing regulations as well as conditions tied to companies listing. According to the amended laws, foreign companies will be […]

October 8th, 2019 | Posted in Finance,Gulf News,Headlines | Read More »

Saudi Fund acquires 49 per cent of Richard Attias & Associates Consulting firm

Sanabil Investments, a subsidiary of the kingdom’s Fund has acquired 49 per cent of New York-based Consulting firm, Richard Attias & Associates (RAA), reports say. The amount of the deal has not been revealed but the acquisition follows Richard Attias & Associates early this year purchase of 49 per cent of advertising firm WPP agreed […]

October 7th, 2019 | Posted in Finance,Gulf News,Headlines,World News | Read More »

KSA to invest $100m in India’s petrochemical, mining, energy sector

Saudi Arabia will inject about $100 million investments in India’s petrochemical, energy, mining and several other sectors, the Saudi ambassador to the country has revealed. Dr Saud bin Mohammed Al Sati told Indian largest news agency PTI that the kingdom is looking to make investments worth $100 million as it seeks to expand its trade […]

September 30th, 2019 | Posted in Finance,Gulf News,Headlines,World News | Read More »

UAE, FAO partner to boost resilience in Liberia

The United Arab Emirates has partnered with FAO to provide $4 million in funding to foster rural development in Liberia. The contribution comes from the UAE’s Ministry of Foreign Affairs and International Cooperation, and aims to support 1,500 rural women in three counties with improved and sustainable poultry and vegetable production, the FAO said in […]

September 12th, 2019 | Posted in Finance,Gulf News,Headlines,World News | Read More »

Kuwait: Kuwait Airways to spend about $2.5 billion on 28 new aircraft

Kuwaiti national carrier will spend around $2.5 billion on the purchase of 28 new aircraft up to  2026.   The operation, according the airline’s Yousef A. M. J. Alsaquer, will be financed with bank loans, the airline’s own capital and through the sale and re-leasing of the carrier’s planes, Zawya news reports.   The Kuwaiti […]

September 2nd, 2019 | Posted in Finance,Gulf News,Headlines,World News | Read More »

Iraq: Government to allocate funds to cement plants rebuilding

The Iraqi finance ministry has approved the release of the $60 million needed for refurbishing a cement plant damaged in the war that ravaged the country following the US intervention in 2003. Reports citing a statement of the ministry said Kufa Cement Plant will undergo shortly “rehabilitation and rebuilding”. The Finance Ministry has approved $60 […]

August 22nd, 2019 | Posted in Finance,Headlines,World News | Read More »