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Dubai-based, global infrastructure-led supply chain solutions provider, DP World and its Canadian partner Caisse de dépôt et placement du Québec (CDPQ) Wednesday confirmed their plan to increase their investment platform with $4.5 billion. The commitment will bring the total size Read more
The World Bank has approved a $500 million loan to Turkey to support small- and medium-sized enterprises (SMEs) affected by the covid-19 pandemic to keep afloat. The loan to be released under the Turkey Emergency Firm Support Project will be Read more
Public listed investment company headquartered in Abu Dhabi, Waha Capital, has launched its third fund with capacity in excess valued at $500 million, Trade Arabia reports. The fund, Waha Islamic Income Fund SP, will invest in sharia-compliant assets across the Read more
Saudi Arabia’s energy giant Aramco has named a new CEO for its $500 venture capital and investments arm, Gulf Business reports citing sources with knowledge of the matter. The new appointee, Mahdi Aladel, former head of the company’s base oils Read more
Kuwait Wednesday warned it will not be able to pay salaries of civil servants from November for lack of funds amid increase in budget deficit caused in part by slump in oil revenues. Finance Minister Barak Al-Sheetan rung the alarm Read more
Qatar’s national carrier, Qatar Airways has signed an $8-million sponsorship deal with Tunisia’s top tier football league team Club Africain – first such deal by the Gulf airline. The four-year deal will enable the trade brand of the Gulf airline Read more
Dubai’s largest bank, Emirates NBD is in early talks with Lebanon’s BLOM Bank which is looking to sell its Egypt-based subsidiary BLOM Bank Egypt. The deal is not certain, the Dubai-based bank said though both sides are still continuing the Read more
Lebanon’s Central Bank has ordered the freeze of accounts of heads of Beirut port and several individuals including those of Lebanese customs along with five others, in the wake of the Beirut port warehouse blast, Reuters reports. The bank through Read more
Lebanon’s banking association said Thursday it might withdraw from talks with IMF owing to rows over the scale of the country’s vast financial losses, Zawya reports. “The atmosphere that prevailed at a meeting today at the finance ministry brought matters Read more
The European Bank for Reconstruction and Development (EBRD) has validated Algeria’s membership request, a first stage in the full acceptance of the North African country as member of the financial institution founded in 1991. The shareholders of the London-based institution Read more