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The seven month old batter-like system agreement between Iran and India has been a dealt a big blow when Parsian, an Iranian Bank, announced that it doesn’t have enough Indian Rupees to pay guarantees for Iranian importers who do business Read more
The World Bank has deemed it necessary to help the MENA region rebuild from the aftermath of the Arab Spring with an investment of half a billion dollars. The bank is trying to raise the fund through one of its Read more
Three Islamic Banks in the Kingdom of Bahrain will be deciding on whether to give a green light in what will become the first merger in shareholder meetings to be held by the end of the month. A positive response Read more
A newly launched fund known as the Gulf Credit Partners which is the credit and mezzanine fund of Gulf Capital has just accomplished its second investment project in Turkey in its short existence. In its released statement, a $20 million Read more
The king of Jordan met up with investors in the Kingdom at the Aqaba Special Economic Zone (ASEZ) to discuss issues concerning investments and especially the hurdles when he was on a visit to Aqaba to evaluate the state of Read more
The summit which focuses on finding means to expand and strengthen the economic bonds and encourage investments between Asia and the Middle East has begun with 150 senior decision-makers present to brainstorm the way forward. The summit is called the Read more
In its quest to stabilize its local currency and satisfy the high demand of dollars by the traders, the Central Bank of Iraq has been channeling through the country’s biggest state banks, Rafidain and Rasheed, an amount of $6 billion Read more
Qatar telecommunication known as Qtel has taken control of Iraq’s N° 2 telecommunication operator, Asiacell, after concluding agreements with the latter. It has now increased its stake by almost 50% after its decision to inject $1,47 billion into the company Read more
Dubai’s investor image has been brightly polished because a unit of the firm taking care of its financial free zone, DIFC Investments, will be able to repay its Islamic bond known as Sukuk. The bond will be maturing on the Read more
Saudi Arabia economy is expected grow by 6 pc in 2012 from 7.1 pc increase posted last year, says the International Monetary Fund in its latest annual review of the world major oil exporter and producer. The private sector will Read more