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 […]
Finance
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 […]
MENA : Islamic banks growth to depend on ethics
After coming into existence in the 1970’s, Islamic banks have experienced impressive growth in the Middle East and North Africa. The banks are now expected […]
GCC: Budget deficits to rock states by 2015, IMF
Members of the Gulf Cooperation Council namely Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain could be facing serious economic woes and budget deficits […]
Egypt: IMF returns to help new government
A delegation from the International Monetary Fund will be visiting Egypt to provide technical aid on the government’s planned Value Added Tax (VAT) system. They […]
Tunisia: Fitch cuts Tunisia’s ratings and promises more
Fitch ratings have published a negative outlook of Tunisia and have promised to implement further cuttings if the situation in the country is not remedied. […]
Egypt: billions to revive the economy
After experiencing what could be the worst crisis since Mubarak stepped down from power, Egypt has revealed its intentions of reviving its handicapped economy. The […]