Monday , 18 February 2019

Financial Services

Release of the IMF Departmental Paper on Scaling up Access to Finance for Small and Medium Enterprise in the Middle East and North Africa

Discussions will focus on how small and medium-sized enterprise financial inclusion is at the core of the economic diversification, growth, and job creation challenges many countries are facing The International Monetary Fund (IMF) will launch its departmental paper entitled Scaling up Access to Finance for SMEs in MENA in a seminar which will take placeat the American University in Cairo, …

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Statement by International Monetary Fund (IMF) Managing Director Christine Lagarde on Egypt

The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an International Monetary Fund (IMF) financial arrangement Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today: I would like to take this opportunity to commend the patience and commitment of the Egyptian people to the reform …

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Ghalya AlAli wins 2019 EY UAE corporate finance Woman of the Year Award

The EY initiative encourages female Emirati business students to consider careers in transaction advisory services (TAS) and corporate finance Ghalya AlAli, an Emirati female student from Zayed University, was announced as the EY UAE Corporate Finance Woman of the Year (CFWY) at an award ceremony held at the Youth Hub in Emirates Towers. Ghalya won from among a group of …

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Ministers assert UAE is establishing new model of sustainability, investing in advanced science and national talent

Sustainability is the way for the UAE to achieve its Centennial goals The UAE is establishing a new model of sustainability, investing heavily in advanced science and technology, and equipping national talents with the necessary skills to ensure optimal use of available resources, asserted Ministers from the UAE Government at a special ministerial session during Abu Dhabi Sustainability Week 2019. …

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Bahrain’s Investcorp, Coller form $1bln European private equity fund

The deal also includes fresh capital for any follow-on investments and future investments Bahrain-based alternative investment manager Investcorp said on Monday it was forming a $1 billion European private equity portfolio with Coller Capital. Investcorp, founded in 1982, is one of the oldest Middle Eastern private equity houses and is targeting $50 billion of assets under management over the medium …

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New 100% investment law redefines UAE’s business landscape

Among a spate of path-breaking reforms aimed at fuelling economic growth. The new UAE investment law, which allows up to 100 per cent ownership to foreign investors in some specific onshore business sectors, is expected to give a major fillip to private and foreign direct investments (FDIs). In the first quarter of 2019, the government is expected to announce a …

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Market Soundbites: What is the global outlook for 2019?

ZAWYA’s editor Michael Fahy sat down with Jean-Paul Pigat, head of research at Dubai-based Lighthouse Research, to discuss the big issues impacting global capital markets and the outlook for the year ahead. “When I look at 2019, for the short-term outlook, there are two main economies I am concerned about the first is the United States and the other one …

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Kuwait’s central bank sets up test ground for fintech

Bahrain has created a fintech regulatory unit and Abu Dhabi and Dubai is cultivating a financial startup scene. Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services, it said on Monday. Kuwait’s regulatory testing framework, known as a ‘sandbox’, will include four phases, with representatives from local banks joining a …

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UAE eyes 15-20% FDI increase by 2020- Ministry of Economy official

The UAE last month approved a new law aimed at attracting more investments into the country The United Arab Emirates is expecting a 15-20 percent increase in the flow of Foreign Direct Investment (FDI) into the country between the end of this year and 2020, boosted by a new Foreign Direct Investment law that was passed last month, a Ministry …

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Google Pay launched in the UAE

Google Pay will allow users to make purchases using Android devices at stores Internet giant Google announced the launch of its contactless payment service in the UAE, furhter ramping up the competition sector that is gaining wider acceptance. Google Pay will allow users to make purchases using Android devices at stores that accept contactless payments, as well as across all …

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