The Egyptian Minister of Finance, Mohamed Maait on Saturday denied plans to increase taxes, saying the government is keen on stabilizing its tax policies in a way that contributes to attracting new investments and providing job opportunities.
Egypt has signed its first $2 billion conventional and Islamic financing loan to support the local economy, the Egyptian Ministry of Finance announced yesterday.
The Arab Monetary Fund (AMF) has provided financial resources worth $1.3 billion to Arab countries during the first half of 2020 to deal with the repercussions of the coronavirus pandemic, Anadolu news agency reported the organisation’s director general saying.
Kuwait’s government will study an idea to lower by half the ceiling on public debt as part of proposed amendments to a law it’s struggled to push through parliament, Finance Minister Barak Al-Sheetan said.
The oil-rich Gulf state of Kuwait will not have sufficient funds to cover public servants’ salaries after November, Finance Minister Barak Al-Sheetan warned parliament on Wednesday. According to Bloomberg, Al-Sheetan confirmed that his country’s government is withdrawing from its General Reserve Fund at a rate of 1.7 billion dinars a month.
Nomura Holdings Inc. eliminated about a half dozen investment banking jobs in Dubai, as Japan’s biggest brokerage shrinks its Middle East footprint and moves coverage of the region to staff in other offices.
Areej Al-Mokbel has been appointed chief operating officer for the Middle East and Africa, responsible for overseeing business operations for Northern Trust’s offices in Riyadh, Saudi Arabia and Abu Dhabi, United Arab Emirates.
Goldman Sachs has promoted two long-serving dealmakers to head up its investment banking unit in Europe, the latest changes at the top of a Wall Street bank in London as they compete for top spot in the region.
Hired as Partner and head of the group’s Dubai office, Khuram Maqsood will lead Triago’s ongoing expansion in the Middle East across all activities - private equity fundraising, secondary sales of private equity fund stakes, and strategic advisory of all types for private equity managers and investors.
Deutsche Bank today announced the appointment of Loïc Voide and Kees Hoving as Co-Chief Executive Officers (Co-CEOs) in the Middle East and Africa (MEA) based in Dubai, United Arab Emirates (UAE).
Israel and the United Arab Emirates agreed to advance cooperation in banking and finance in the first protocol of understanding signed since the two countries began peace moves.
Citigroup Inc., one of the biggest lenders to energy companies, said it will measure and disclose emissions tied to its massive lending portfolio and is working to finance $250 billion of sustainable activities by 2025 after reaching an earlier goal four years ahead of schedule.
Bank of Bahrain and Kuwait BSC (BBK), a Manama-based commercial bank, is in preliminary talks with Ithmaar Holding BSC (Ithmaar), for the potential acquisition of the Bahrain operations of Ithmaar Bank BSC (Ithmaar Bank) and certain assets of IB Capital BSC (IB Capital).
Jordan's Capital Bank has begun due diligence on buying Lebanese Bank Audi's> Iraq and Jordan units in an acquisition that will help the Jordanian bank to diversify and expand domestically and regionally, its chairman said.
Borsa Italiana S.p.A. (“Borsa Italiana”) and London Stock Exchange Group plc (“LSEG”) have today completed their merger thereby creating the leading diversified exchange group in Europe and the platform for additional strong growth on a European and global scale.
With the occurrence of the COVID-19 pandemic, society and the economy went through an extremely rapid transformation, reacting to the new public health situation while balancing safety risks and business needs. An immediate solution, adopted by those employers and employees who could, has been shifting the workplace from the office to home.
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