Tuesday , 25 September 2018

Tag Archives: Finance

The International Islamic Trade Finance Corporation (ITFC) Supports Gambia’s Agriculture With US $ 17.5 Million Syndicated Murabaha Financing

The Facility will be used to support the agriculture sector in Gambia through the import of inputs (fertilizers) and the purchase of Agricultural Produce The International Islamic Trade Finance Corporation (ITFC) (ITFC-IDB.org), member of the Islamic Development Bank (IDB) Group (IsDB.org), signed on November 29, 2017 with the Government of The Gambia a syndicated Murabaha financing Agreement in an amount …

Read More »

E-commerce site Noon to go live in Saudi Arabia tomorrow – CEO

Faraz Khalid says site will begin trading in the kingdom on December 12 Regional e-commerce platform Noon will launch in Saudi Arabia on Tuesday, its chief executive has said. The site, which is backed by Dubai billionaire Mohamed Alabbar and the kingdom’s sovereign wealth fund, the Public Investment Fund, launched in the United Arab Emirates at the end of September, …

Read More »

World Bank agrees $1.15bn loan to Egypt

World Bank has approved $1.15bln in a development policy financing loan to support Egypt’s economic reform programme. The World Bank has approved $1.15 billion in a development policy financing loan to support Egypt’s economic reform programme. This loan is the last in the series of three annual loans—called the Fiscal Consolidation, Sustainable Energy, and Competitiveness Development Policy Financing loans – …

Read More »

Sale of the century? $300bln Saudi state sell-off moves slowly

Privatisation critical to economy in era of cheap crude. DUBAI/RIYADH: Saudi Arabia’s $300-billion privatisation programme was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail’s pace, bankers, investors and analysts familiar with the process say. The main problems they cite are …

Read More »

Challenges may come, but UAE’s ready for it

UAE’s resilience puts it on track to double economic growth in 2018 The UAE economy, resilient to global and regional headwinds, has been on a steady rebound in 2017, despite predictions of a slowdown in economic growth elsewhere in the region. Economists and analysts predict that the UAE – marking its 46th year as one of the fastest-growing economies in …

Read More »

New taxes need not affect UAE’s ease of doing business – expert

MENA countries achieve better scores in Paying Taxes report due to lighter tax regimes in many Gulf states The United Arab Emirates’ position in the annual Paying Taxes rankings compiled by the World Bank and PwC will not be impacted by the introduction of new forms of taxation if they are implemented smoothly, according to an expert . Speaking at …

Read More »

WGES 2017: Dubai’s National Bonds signs $653 mln deal to finance clean energy projects

Dubai Electricity and Water Authority (DEWA) on Tuesday signed an agreement with National Bonds to set up a 2.4 billion UAE dirham ($653.4 million) green fund at the World Green Economy Summit (WGES) that opened in Dubai today. “The fund will also be the first major green fund that will have a dedicated arm for Sharia-compliant investments,” Saeed Mohammed Al …

Read More »

UAE economic growth to stay resilient

Non-oil growth in the UAE will remain resilient in 2017 while in the medium term, while economic activity will strengthen on the back of firmer oil prices and a rebound in global trade, the World Bank said on Thursday. While an Opec-mandated oil production cut restricts oil growth, firmer oil prices, a rebound in global trade and easing of fiscal …

Read More »

Egypt: The Economy Is Gathering Strength

Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves. “The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they …

Read More »

Exponential growth seen in GCC assets under management

Dubai is set to reinforce its status as the region’s leading financial hub with new legislation and regulation expected to attract inward investment as the GCC is forecast to see an exponential growth in assets under management to nearly $111 billion by 2020, a new study reveals. While fund managers in the UAE are expected to see their asset under …

Read More »