Business

GCC Family Business are Confident about Prospects for 2018

GCC Family Business are Confident about Prospects for 2018

The Gulf Cooperation Council's family businesses have shown confidence in their prospects for 2018, as they begin to adapt to the “new norm” of lower oil prices and the impact of geopolitical developments, according to KPMG’s recently published “GCC Family Business Survey 2017”. The report analys

Britain Charges Barclays with Giving Qatar Investors Illegal Loan

Britain Charges Barclays with Giving Qatar Investors Illegal Loan

Britain charged on Monday Barclays’ operating subsidiary with granting Qatari investors with an illegal loan. The loan was used to prop up its shares during the banking crisis, announced Britain’s Serious Fraud Office. “The charges relate to financial assistance Barclays Bank Plc gave to Qatar

Saudi Financial Market Warns of Investing in Digital Currencies

While a number of digital currencies have witnessed sharp fluctuations over the past few weeks resulting in financial losses for many investors, it is certain that digital currencies have no legislative or legal cover to help investors increase their credibility in the future. Given the risk of i

Tunisia: World Bank Expert Tipped for Central Bank Governor Post

Tunisia: World Bank Expert Tipped for Central Bank Governor Post

Tunisian Prime Minister Youssef Chahed wants to sack central bank governor Chedli Ayari and replace him with Marouane El Abassi, who is the World Bank representative for Tunisia's neighbor Libya. Replacing the central bank governor would come after the European Union slammed Tunisia for being mos

Interest Rate Reduction in Egypt Is Subject to Energy Pricing Policy- Arqaam Capital

Interest Rate Reduction in Egypt Is Subject to Energy Pricing Policy- Arqaam Capital

As the business community in Egypt expects the Central Bank of Egypt (CBE) to reduce the interest rate, Arqaam Capital noted the possibility that this step might take some time amid pursuits to contain inflation and limit the reduction to 500 basis points during the current year. The bank gradual

UAE’s ADNOC Plans to Invest in $3.1 Billion Upgrade to Ruwais Refinery

UAE’s ADNOC Plans to Invest in $3.1 Billion Upgrade to Ruwais Refinery

Abu Dhabi National Oil Company (ADNOC) announced investing $3.1 billion in a project to upgrade the crude oil Ruwais Refinery, aiming to increase profitability margins in oil refining operations. The announcement of the project is another important step as ADNOC moves ahead with its Gas, Refinin

Iraqi Customs Collect Fees on Jordanian Products

Iraqi Customs Collect Fees on Jordanian Products

Director General Amman’s Chamber of Industry Nael al-Husami said that despite the decision by the Iraqi authorities to exempt Jordanian products from customs fees since the end of 2016, "Iraqi authorities are still collecting fees on Jordanian products.” Jordanian Trade and Finance Minister Ya'ar

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