Iran has agreed to accept Ceylon tea in payment for a Sri Lankan oil debt valued at $251 million, Iranian media reported Thursday. "In recent negotiations, we reached a written deal to reimburse Iran's debt and interest on it in the form of a monthly shipment of tea produced in...

Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said Tuesday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst...

It also formed a risk committee before upcoming payment deadlines.

Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion dinars, in September 2020, down 23 percent, local media reports said, citing Finance Ministry's budget data. The decrease in the budget deficit is due to the increase in budgetary resources...

Debts of 4,511 Emirati citizens, amounting to AED1.15 billion ($313 million), have been waived by 20 banks and financial institutions, the Non-performing Debt Relief Fund announced on Wednesday. The banks that waived the debts are First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Abu Dhabi Islamic Bank, Standard...

Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC) has announced. The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031, while the second tranche of $1.25 billion is for a 30-year...

A Dubai court has ordered the managers and directors of Marka Holdings to repay the company’s AED448 million (around $128 million) debt as part of bankruptcy proceedings.

The Chinese firm has restarted work on 10 projects.

Global debt levels could reach about 260 percent of gross domestic product (GDP) by the end of 2021, though low interest rates mean the ability to service it will be manageable, according to S&P Global Ratings.

Tata had founded the airline as Tata Air in 1932, with the first flight piloted by Tata's eponymous chairman himself. The airline was nationalized by the Indian government in the 1950s but it began to struggle in the 90s with the competition from Gulf carriers and no-frills airlines.

The Saudi Stock Exchange will be added to its widely followed Emerging Markets Government Bond Index (EMGBI), the global index provider FTSE Russell has announced.

The team -- Deputy Prime Minister Saade Chami, Finance Minister Youssef Khalil, Economy Minister Amin Salam and central bank governor Riad Salameh -- would be backed by experts. Lebanon hopes the talks with the IMF will help unlock billions of dollars in financial aid.

Heavily in debt, with spiraling inflation and widespread unemployment worsened by the coronavirus pandemic, Tunisia is hoping for a bailout package from the IMF. But talks have been suspended since President Kais Saied on July 25 sacked the government.

The battle in Washington to raise the US debt limit was also fuelling concern that the government could miss payments on its debt obligations, sparking a disastrous default.

For the second month in a row, Saudi Arabia’s holding of US Treasury securities rose in July, touching $128.1 billion.

The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by 4.3 percent this year. The Kingdom's GDP, which rose from US$ 701.5 billion in 2020, is likely to hit to US$ 804.9 billion by the end of 2021.

Managing Director IMF Kristalina Georgieva said the largest allocation in history, about $650 billion in Special Drawing Rights, was a “significant shot in the arm for the world” to combat the economic distress caused by the Covid-19 pandemic. She said the IMF was encouraging rich countries that receive SDRs to...

Kuwait International Bank said it has completed the sale of its exposure in troubled UAE healthcare group, NMC.

The term loan facility reduces by $1 billion the size of EGA’s existing seven-year $6.5 billion loan facility signed in 2019, as strong aluminum prices and EGA’s operational performance drive liquidity, the company said.

The country's economy is witnessing deterioration as sources of income decline, unemployment rises to 18 percent and rising debt necessitates a loan from the IMF.

The country has seen its economy contract by more than 8 percent last year, and its pile of debt has made it more worse

The last time the Bahraini Kingdom tapped the international debt market was in January, when it raised $2 billion

The remaining of the total $23.5 billion debt will be rescheduled and will likely be canceled in the future, says the head of Paris Club Emmanuel Moulin

Deal expected to close in the second half of 2021  World says it continues to make progress on its capital recycling programs  Dubai Ports World has announced the acquisition of 100 percent of syncreon, a US-based supply chains provider, for an enterprise value of $1.2 billion. The deal is expected...

The IMF has completed the second review of Egypt’s economic reform program allowing the authorities to draw about $1.7 billion The IMF also commended Egypt’s strong performance under the Stand-by Arrangement Egypt’s economic growth is expected to rebound strongly to 5.2 percent in 2021-22, the International Monetary Fund (IMF) said...

Proceeds will be used by Trella to invest in tech capacity and product development to fuel growth Trella connects shippers directly to carriers, with significant positives for both Trella, a digital freight marketplace in MENAP, has announced the successful completion of a $42 million funding round, comprising $30 million new...

This is the emirate’s 20th group of payments approved to the Sharjah Debt Settlement Committee The total amount processed since the first payments is AED 786,786,153 for 1,576 beneficiaries Sharjah’s ruler Sheikh Sultan bin Muhammad Al Qasimi has approved AED 51,907,000 to settle 99 cases of debt for citizens of...

Out from nearly 30-year-long international isolation, Sudan finds the crushing burden of debt being eased with help from Saudi Arabia, France and other donor countries More aid to Sudan is contingent upon it fulfilling pledges like free and fair elections and implementation of the peace agreement Saudi Arabia has pledged...