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The Egyptian government has branded rubbish reports it is in talks with the International Monetary Fund (IMF) for an assistance package. Planning minister Hala El-Said told Reuters the Arab country is not seeking a loan from the Washington-based institution, Arab Read more
UAE’s First Abu Dhabi Bank (FAB) will open a representative office in Iraq as the largest lender of the Gulf country rolls out its expansion plan. “FAB will be expanding its regional footprint with the opening of a representative office Read more
A Lebanese prosecutor Thursday issued travel bans against the heads of the boards of five Lebanese banks as a precautionary measure as she investigates transactions made by their banks, reports say. Judge Ghada told Reuters, she issued the bans against Read more
UAE’s biggest lender First Abu Dhabi Bank (FAB) has sold a 60 percent stake in its payments firm, Magnati, to Canada’s Brookfield Business Partners, Zawya reports. The transaction will bring to the Abu Dhabi-based bank around $690 million. FAB will Read more
The Saudi British Bank (SABB) has signed a project financing agreement with Nesma & Partners Contracting Company Ltd. worth $693 million (2.6 billion riyals) for the construction of a mall in the Saudi capital Riyadh, Zawya reports. The deal will Read more
The Agriculture Innovation Mission for Climate (AIM for Climate), a global initiative led by the UAE and the US with the support of over 140 government and non-government partners has unveiled plans to double its investment commitment to $8 billion Read more
Israeli Minister of Economy and Industry, Orna Barbivai, who arrived in Morocco Sunday for a three-day visit held, this Monday, February 21 in Rabat, a meeting with Minister of Industry and Trade Ryad Mezzour that highlighted by the signing of Read more
Cairo-based investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank’s (FAB) offer to acquire a majority stake, the bank has said in a statement. The board of Egypt’s largest investment bank also said it Read more
Saudi Arabia’s Al Jouf Agricultural Development Company (JADCO) has obtained a loan worth 186 million riyals ($49.6 million) to set up a French fries factory in the Gulf country, Zawya reports. JADCO got the loan from the Agricultural Development Fund Read more
The new Moroccan investment charter which is in the pipeline and which seeks to enshrine the Kingdom as a privileged land for regional and international investment was debated Wednesday at a working session chaired by King Mohammed VI, the Royal Read more