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The investment sector has not recovered from the 2008 global financial crisis and investors have found themselves in difficulties to refinance the debt they borrowed on short term bases during the boom years because of the rise in borrowing cost. Read more
The United Arab Emirates has handed a 90-day notice to Barclays following its role in a scandal in England. Barclays is obliged to leave the rate-setting panel for interbank lending because the notice is mandatory. Barclays has of late manifested Read more
IFC, a global development institution, member of the World Bank Group, has helped arrange a $125 million financing package for Wataniya Mobile Palestine to aid in making mobile services more accessible and affordable in the West Bank and Gaza. IFC Read more
The National Commission of the Casablanca Finance City (CFC), a regional financial hub for investors looking to gain a foothold in the fast-growing markets of Africa, is expected to grant next week seven CFC status to major financial institutions , Read more
The ratings agency Standard & Poor’s predicted that the Gulf Cooperation Council banks will be shielded from the Euro zone turmoil and will continue recovering steadily from the 2008 credit crisis, despite the persistence of some pockets of risk. Since Read more
The National Shipping Company of Saudi Arabia (Bahri) is set to become the fourth largest owner of very large crude carrier (VLCC) if a proposed merger of fleets and operations between them and Saudi Aramco’s own subsidiary called Vela International Read more
With reference to a rating statement from Moody’s, Tamweel is on the verge of beginning a project based on the sale of a mortgage-backed sukuk (Islamic bond) secured in the emirate and related receivables to gather an amount of $235 Read more
One of OMZEST (Omar Zawawi Establishment) Group’s subsidiary known as Riyam Computer Services (RCS) has concluded a partnership deal with QGroup, a German based company. Both of the two companies are actors in the Information Technology sector. As far as Read more
Bankers in Syria have said that the government has released new banknotes into the system which are believed to be printed in Russia. The new move is in line with Damascus’s aims at curbing inflation and easing its fiscal deficit Read more
Sadara is a petrochemical joint venture between oil giant Saudi Aramco and Dow Chemical. Sadara will soon announce a Sukuk project according to close sources. There are claims that the move is in line with Sadara’s bid to raise billions Read more