G7 Pledges to Help Ukraine Address Economic Challenges
The Finance ministers of G7 have pledged to help Ukrainian government to usher in market-oriented reforms that will restore financial stability, unleash the country’s economic […]
Finance
Egypt: IFC striving to revive economy
Political instability in Egypt since the ouster of Islamist President Mohamed Mursi and banks’ increasing exposure to the indebted government, has given the country a […]
Libya runs out of money to finance ministries
Oil protests in Libyahavegreatly affected the country’s budget as oil and gas exports are the main source of the government’s budget,which has made it impossible […]
Egypt’s Central Bank Slowly Running out of Cash
After Egypt’s foreign currency reserves had fallen to 17 billion USD in December last year compared to 17.8 billion USD a month earlier, Cairo had […]
EIB Lends Egypt € 205 Mln for Energy Project
The European Investment Bank (EIB) has lent Egypt € 205 million to enable the North African country carry out a new energy project which consists […]
Omantel privatization continues, government steps back
Omantel, former telecommunications monopoly of the Omani government, is undergoing a privatization phase as announced in September. The government plans to reduce its 70 percent […]
Banks in Saudi Arabia to increase capital
With an enormous growth in deposits which arrived at $344 billion last year according to data released by Saudi Arabian Monetary Agency (SAMA), Saudi banks […]
Tunisia : IMF approval gives hope to Central Bank
A much delayed $506 million loan, part of a two-year $1.76 billion package agreed upon last year, approved by the International Monetary Fund (IMF) was […]
Mauritania : Islamic finance to be introduced
In its efforts to modernize the banking system and make long-term loans available to companies, Mauritania’s central bank aims at developing the Islamic finance, Central […]
Egypt : Saudi Arabia’s aid package to save dwindling economy
Saudi Arabia will be offering $5billion to Egypt to save its declining economy. The Egyptian Stock Exchange has been on the decline forcing the Board […]