S&P Global Ratings has assigned Emirates Development Bank (EDB), fully owned by the UAE federal government, 'AA-' long-term issuer credit rating, with a stable outlook, the Emirates News Agency (WAM) reported.
Banks across the Gulf area slashed cash dividends for 2020 by 45.4% or $6.6 billion to $8 billion compared to $14.6 billion in 2019, as a result of the effect of the COVID-19 pandemic, according to a recent report by Kamco Invest.
Africa’s vaccine manufacturing potential has always been overlooked, but COVID-19 warranted a closer look at internal capability development. Is this the beginning of something bigger?
The Saudi Fund for Development (SFD) has signed an export financing agreement with the National Bank of Iraq, a subsidiary of the Capital Bank Group, to provide credit facilities worth $10 million to Iraqi importers who seek to import Saudi products and services. The step will help strengthen trade relations between the two nations.
Milan-based Aigis Banca, a specialist lender to small and medium-sized businesses, was ordered into liquidation by the Bank of Italy at the weekend, with larger peer Banca Ifis buying its assets and liabilities for the symbolic price of €1 ($1.60). “The intervention of Banca Ifis makes it possible to avoid the severe social and economic consequences of the situation that has arisen in Aigis Banca as a result of the latter’s exposure towards Greensill Bank,” Banca Ifis chief executive Frederik Geertman said.
UL, the global safety science leader, has announced the completion of a pilot project with WIZZIT Digital to launch Tap2Pay SoftPOS solution with personal identification number (PIN) entry support. This solution transforms commercial off-the-shelf (COTS) devices into point-of-sale (POS) payment terminals.
In its effort to provide the latest and most advanced digital payment solutions to meet the needs of its customers in a quick and easy manner, National Bank of Kuwait (NBK) has introduced Smart Payment Solution.
South Africa’s number three operator is claiming an African first. Telkom says it has launched Africa’s first virtual card for transacting on WhatsApp, enabling Telkom Pay customers to make e-commerce payments.
This move, says Telkom, is expected to empower millions of South Africans – even those without a bank account – to access the digital economy and transact online.
President Uhuru Kenyatta on Tuesday evening urged the Ethiopian government to consider opening up opportunities for mobile money services as part of its ongoing telecommunications liberalization process.
Integrated Diagnostics Holdings (“IDH,” “the Company” or “the Group”), a leading consumer healthcare company with operations in Egypt, Jordan, Sudan, and Nigeria, announces that it has secured a USD 45 million debt financing package from the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets.
The Egyptian Exchange (EGX) announced a deal worth EGP 1.938 million was executed on the shares of Orascom Development Egypt (ODE). The transaction involved 1.93 million shares as part of the employee stock ownership plan (ESOP), the EGX said in a statement on Thursday.
Emirates NBD, Dubai's largest lender, sold $750 million in Additional Tier 1 bonds on Thursday after receiving more than $1.75 billion in orders for them, a document showed. It launched the bonds at a yield of 4.25% after giving initial price guidance of around 4.5%, the document from one of the banks on the deal showed.
Egypt’s Senate is set to discuss a new government-drafted law on Sovereign Bonds (Sukuk) on Monday, May 17th, Ahram Online reported on May 16th. A report prepared by the Senate's economic and financial affairs committee said the 24-article bill aims to contribute to improving the state's financial performance.
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