Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...Economy
Kuwait’s annual inflation jumps to 3.79% in November
According to the Kuwait Central Statistical Bureau, the upward trend was mainly attributed to rising prices across all major groups...Economy
School of Government and ADGM Academy launch investment program
The Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGM Academy) have launched the ‘Investment Foundations'...The program aimed at equiping Abu Dhabi government employees with knowledge and skills related to finance, ethics, and investment practices.
Participants will receive a certification jointly accredited by the ADSG and Abu Dhabi Global Market Academy.
Slow progress as Lebanon awaits IMF economic deal
Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of...Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of financial losses
Talks resumed in September this year after the formation of a new government headed by Prime Minister Najib Mikati
Global stocks rise amid optimism Omicron won’t derail recovery
Experts caution against too much optimism around early indications that Omicron causes less severe disease than previous strains, pointing out...The US Centers for Disease Control and Prevention helped sentiment on Monday as it cut the isolation period for asymptomatic Covid cases in half to five days.
Frankfurt's DAX index finished 0.8 percent higher while the Paris CAC 40 closed at a record, rising 0.6 percent to 7,181.11 points. London was closed for a holiday.
Saudi Fund invests in education, road projects in Lanka
The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death...The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
Cash-strapped Tunisia to borrow $7 billion more in 2022
Debt-ridden Tunisia unveiled a 2022 budget on Tuesday that will see it borrow almost $7 billion more, as it seeks...The deficit is expected to hit some 6.2 percent of gross domestic product, said finance minister Sihem Boughdiri.
Tunisia's previous government had been in talks with the IMF over a new bailout package when President Kais Saied in July sacked ministers and seized far-reaching powers.
Iraq saw rise of positive economic indicators in 2021: Planning Ministry
Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken...People regaining their jobs after easing of Covid restrictions helped boost projects in the private sector.
Although the Planning Ministry is yet to prepare a report on economic indicators for 2021, there is an improvement in many fields, says a spokesman.
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Oman central bank’s FX reserves reached $18b in 2021
The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.The bank’s board of governors observed that the total demand for foreign currency in the local market was at satisfactory levels
This, it opined, has brought the FX reserves of CBO in equation with the value of nine months of country’s imports
Iraq records high positive indicators for the economy in 2021
The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an...All economic development movement shows positive results, the Ministry of Planning has said
The government projects that were suspended due to the financial and economic crisis have been resumed
