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Kuwait will execute 18 projects worth $65 billion in fiscal year 2021-2022 following government approval. According to Alanba daily in Arabic, 5 per cent of the projects are based on partnership with the private sector. The projects include 14 major Read more
The UAE’s holdings of the US treasury bonds rose by over 31% or $13.6 billion in May to stand at $57.3 billion compared to $43.7 billion in April 2021, Zawya reports citing official data. With the 31 per cent increase, Read more
The Islamic Development Bank (IsDB) Sunday announced the appointment of the Saudi former Economy and Planning minister, Sulaiman Al-Jasser, as the new president of the financial institution. Al Jasser, according to a statement of the bank, has been approved by Read more
Qatar Investment Authority (QIA), the country’s sovereign wealth Fund, has launched a wholly-owned advisory subsidiary in Singapore to source investment opportunities in Asia, Zawya reports citing a source from the Fund. The subsidiary, Qatar Investment Authority Advisory (Singapore) Pte Ltd, Read more
Commercial Bank of Qatar has given up on plans to raise stakes in National Bank of Oman (NBO) to controlling shares after investors pushed back against what would have been a rare cross-border tie-up in the Gulf, Bloomberg reports. Commercial Read more
The Egyptian parliament has approved the World Bank’s $400-million credit line to support the Arab Republic’s comprehensive social health insurance system expected to provide a higher quality of medical services, reports say. The Health Affairs Committee of the House of Read more
Qatar’s private lender, Commercial Bank (COMB.QA), Thursday said it offered to buy an additional 15.2% stake in National Bank of Oman (NBOB.OM) for $128 million, Reuters reports. If the offer comes into fruition, the bank will become the largest shareholder Read more
Firms in the UAE have until next month to reveal the identity of their real owners as part of the Gulf country clampdown on money laundering, the director of the Anti-Money Laundering Department at the ministry of Economy has told Read more
Abu Dhabi’s Mubadala Investment Company, one of the investment fund of the UAE, announced Sunday it has invested $497 million into UK-headquartered IVC Evidensia, Europe’s largest veterinary care provider. The sovereign fund in a statement indicated that the investment aligns Read more
The kingdom of Morocco has emerged as one of the leading international investors in Africa with foreign direct investment (FDI) valued at about $4 billion according a report by the Moroccan Agency for Development of Investment and export (AMDIE) and Read more