Leading News Source For Middle East
Egyptian Prime Minister Sherif Ismail informed the parliament that the country’s debt has soared to around $293 billion (EGP 2.3 trillion) almost a year after the Central Agency for Public Mobilization and Statistics stated in a March 2015 report that Read more
A week after Oman’s credit ratings were downgraded by Standard and Poor’s from BBB+ to BBB-, sources have revealed that the government is preparing to issue a sovereign dollar bond but the Finance Ministry refused to confirm or deny the Read more
A source at the Central Bank of Egypt (CBE) has ruled out plans to devalue the country’s currency as the state continues to struggle with meeting the demands of businessmen through tri-weekly US dollar auctions while balancing foreign reserves. Investment Read more
Tunisia will be receiving a delegation from the International Monetary Fund (IMF) to discuss a loan agreement and Prime Minister Habbib Essid met with Central Bank Governor Chely Avari over the weekend ahead of their arrival. A government official hinted Read more
Bahrain would soon introduce austerity measures as recommended by a delegation from the International Monetary Fund (IMF) which visited the Gulf country January 12 to 25 for annual consultations. Bahrain is struggling with the low oil prices and IMF forecasted Read more
The Bahraini government approved the reduction of subsidies and the increment of energy prices in the country by at least 50%. The government made the decision while reviewing the expenditure policies due to the low global oil prices. Reducing energy Read more
A spokesman of the oil company newly established by the Tobruk-based government to oversee oil dealings in areas under its control stated that an agreement has been reached with Egypt for the supply of 2 million barrels of crude oil. Read more
Italian Foreign Minister Paolo Gentiloni and Minister of Economic Development Federica Guidi together with senior officials of different industries in Italy were in Tehran on Tuesday on an official visit with one of the major highlights being the signing of Read more
Lebanon has begun to raise eyebrows over the state of its economy and financial market. Investment has been on the decline and the U.S financial regulations have also taken a toll on the country. The President Choukeir of the Chamber 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