• World Bank plans $6 billion in financial assistance for Egypt
    The financial assistance includes "$3 billion for financial support to Government’s programs and $3 billion for the private sector (including mobilization) – subject to Board approval," it added. Egypt, the Arab world's most populous nation, is in dire need of financial help as it weathers a severe economic crisis marked by rapid inflation.

    The World Bank Group is comprised of five separate agencies which deal with a range of issues, including investment. Its current portfolio with Egypt is above $8bn.

    Earlier this month, the IMF agreed an expanded $8bn loan package after Cairo implemented reforms that included moving towards a flexible exchange rate and hiking interest rates.

  • Growth has become a top priority for the UAE, given its extensive trade and economic ties with countries worldwide, says Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, on the sidelines of the Genetic International Trade Association Summit in Dubai.
    "This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all to emulate. The Emirati model demonstrates that economic prosperity is essential for a successful society and crucial for enhancing the quality of life of its citizens," he added.
  • Trends Mena
    Economy
  • TRENDS STAFF

  • Oxfam blames Israel for ‘deliberately’ blocking aid to Gaza
    Oxfam said in a report that Israel continued to "systematically and deliberately block and undermine any meaningful international humanitarian response" in the Palestinian territory. It alleged that Israel was defying an order by the ICJ in January to boost aid in Gaza, and was failing its legal responsibility to protect people in land it occupies.

    Oxfam said inspection rules were causing aid trucks to be stuck in queues for 20 days on average

    The group noted that Israeli authorities arbitrarily reject "dual-use" items

  • Israeli army says operation under way in Gaza’s Al-Shifa hospital
    Al-Shifa is the Gaza Strip's largest hospital. The Israeli army had in November last year carried out an operation in the complex, sparking an international outcry. Witnesses in Gaza City told AFP the Al-Rimal neighborhood, where Al-Shifa is located, had been hit by air strikes.
  • Putin hails election victory, says would not be ‘intimidated’
    If he completes another full Kremlin term, Putin will have stayed in power longer than any Russian leader since Catherine the Great in the 18th century. Allies of the late Alexei Navalny - Putin's most prominent rival, who died in an Arctic prison last month - had tried to spoil his inevitable victory, urging voters...

    All of the 71-year-old's major opponents are dead, in prison or exiled

    He has overseen an unrelenting crackdown on anybody who publicly opposes his rule

  • Iran signs deals worth US$13bn to boost oil production
    The oil ministry and Iranian businesses signed deals worth $13 billion to increase daily oil production in six major fields. The deals have been labelled as Iran's "biggest oil contracts in the past decade" that are aimed to add 350,000 barrels per day to the Islamic republic's daily production.
  • Israeli PM says civilians can leave crowded Rafah before invasion
    Israel has repeatedly threatened a ground offensive against Hamas in Rafah, where people shelter in tents crammed up against the Egyptian border. UN World Health Organization chief Tedros Adhanom Ghebreyesus urged against a military operation there, "in the name of humanity".

    Netanyahu had on Friday said he approved the military's plan for an operation in Rafah as well as "the evacuation of the population."

    The US - which provides Israel military assistance - has said it wants a "clear and implementable plan" to ensure civilians are "out of harm's way."

  • Economy
  • "This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all to emulate. The Emirati model demonstrates that...
    By TRENDS STAFF

Latest news

Most Read

Latest News

  • Trends Mena

    Economy
  • "This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all to emulate. The Emirati model demonstrates that...

Latest news

EDITOR'S PICK

Latest News