Qatari government injects $43 billion to help banks amid Arab boycott

Wednesday, 21 February 2018

Senior Director for financial services at S&P Global Ratings, Mohamed Damak, said on Tuesday that the Qatari government and state-controlled companies have injected nearly $43 billion to help banks after the country’s boycott in June last year. According to Damak, about $22 billion worth of deposits flowed out of the country since the boycott. A Bloomberg article quoted Damak as to saying that this injection will allow blanks to increase their lending and financing of government ...

Paving the way to sustainable SMEs through governance

Tuesday, 20 February 2018

There is a general perception that Governance is for large businesses, in fact more often than not the term used is “Corporate” Governance, and thus SME’s (Small and medium size businesses) in general believe that this practice can be delayed to a later stage of their growth cycle. Whilst there is a growing interest and awareness towards the best practices of corporate governance, especially amongst large family businesses in the region that are transitioning to second or even ...

Amr Banaja

Tunisia central bank governor tells state TV he has officially resigned

Thursday, 15 February 2018

Tunisia's central bank governor, Chedli Ayari, said on state television on Wednesday that he has officially resigned. Prime Minister Youssef Chahed had earlier asked him to step down.

Japan economy grows for 8th straight quarter, longest since 1980s

Wednesday, 14 February 2018

Japan's economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, the longest period of expansion since the boom days of the late 1980s.Gross domestic product in the fourth quarter of last year rose 0.1 percent from the previous three months, the Cabinet Office said.But the growth fell short of market expectations for a rise of 0.2 percent and represented a slowdown from the 0.6 percent in the preceding July-September quarter.At an annualized rate, the ...

Saudi orders inventory of delayed payments to private sector

Tuesday, 13 February 2018

Saudi Arabia has ordered an inventory of all delayed payments to the private sector, state news agency SPA said on Monday, citing a royal decree.The decree urged a quick resolution of outstanding payments.It will also establish a committee headed by the trade and investment minister in charge of gathering data on payment delays to private sector contractors.The committee will look into reasons for the delays and come up with solutions for speedy repayment.

418 companies shut down in Qatar in one month

Monday, 12 February 2018

Qatar’s Ministry of Economy and Commerce published its periodic report on internal trade, which revealed that a total of 418 companies shutdown their operations in Qatar in January, 14 percent of which were new companies that were registered in the same month. Construction companies topped the list with 36 percent of that sector closing down, followed by the electronic appliances at 18 percent, common goods and grocery stores. The report, which Al Arabiya received a copy of, showed that 41 ...

Touting ‘transformation’, French PM seeks investment in Dubai

Sunday, 11 February 2018

France’s Prime Minister Edouard Philippe promised lower taxes and a business-friendly France at a global summit in Dubai on Sunday, seeking investment from the oil-rich Gulf region. “France is undergoing great transformation”, Philippe said, addressing a thousand-strong audience at Dubai’s World Government Summit. The prime minister pledged a “favorable framework for business and investment” and a drop in corporate taxes in France. The annual summit, often ...

VIDEO: World’s tallest building in Jeddah, here’s how it looks now

Thursday, 8 February 2018

Construction of the world's tallest skyscraper in Jeddah is going ahead and I the $1.5 billion project is being built by the Jeddah Economic Company. The firm's chief executive Mounib Hammoud said he hopes the tower will be opened by 2020. The Jeddah Tower features residential and hotel space as well as shopping facilities. It is projected to be over 1,000 metres (3,281 feet) tall, eclipsing Dubai's Burj Khalifa, which is currently the world's tallest building at over 828 metres. Construction ...

Bitcoin slides below $6,000 with half its value lost in 2018

Tuesday, 6 February 2018

Bitcoin slid another 13 percent to below $6,000 on Tuesday, bringing the world’s best-known cryptocurrency’s losses to more than half since the start of 2018.Bitcoin has fallen heavily in recent sessions as worries about a regulatory clampdown on the nascent market and panicked investors push prices lower. The virtual currency hit a peak of almost $20,000 in December.On the Luxembourg-based bitstamp exchange, bitcoin fell to as low as $5,920, its lowest level since mid-November, ...

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