Sunday , 16 December 2018

Tag Archives: Finance

UAE largest receiver of FDIs in Arab region in 2016: Minister of Economy

Al Mansouri noted that the law will increase allowed percentage of foreign ownership of local investment projects, up to 100% in specified sectors. Panoramic sunset city skyline. UAE law will increase the allowed percentage of foreign ownership of local investment projects, up to 100 percent in certain specified sectors. ABU DHABI- Sultan bin Saeed Al Mansouri, Minister of Economy, has …

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East Africa Islamic Economy Summit 2018 returns to Nairobi, Kenya

Tapping into East Africa’s tech savvy population to drive Innovation and Financial Inclusion ‘East Africa’s fairly developed infrastructure and communication sector, a young educated tech savvy population and their ability to capitalise on technology development provides a great opportunity for the region to lead in the Islamic Finance digital economy’ – Agnes Gitau, GBS Africa (http://GBSafrica.co.uk) elaborating the theme of …

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Oman signs $210mln Saudi financing for key industrial project

Deal could help to ease concern about the health of Oman’s finances. Image used for illustrative purpose. A bank employee counts one hundred dollar notes at a bank in Seoul February 26, 2009. Image used for illustrative purpose. A bank employee counts one hundred dollar notes at a bank in Seoul February 26, 2009. Oman’s government has signed to obtain …

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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 …

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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, …

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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 – …

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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 …

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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 …

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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 …

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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 …

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