Browsing: finance

RIYADH: Since its establishment over 30 years ago, the Islamic Development Bank has supported its member states with $151 million in the form of investments and trade deals, said the top executive of the bank.

A “weak-by-historic-standards” global growth rate and “significant divergence across the world” are two “very serious problems” that need to be tackled imminently, IMF Managing Director Kristalina Georgieva highlighted at a Riyadh summit on Sunday.

Dubai is proceeding with building a new passenger terminal at Al Maktoum International Airport in anticipation of a spike in visitors, after halting the project for years.

The Central Bank of Egypt (CBE) has disclosed a significant increase in the total financial position of banks operating in the local market. In 2023, this position reached approximately EGP 14.2trn, compared to EGP 11.399trn in December 2022—an impressive surge of about EGP 2.8trn.

Data issued by the Central Bank of Oman (CBO) indicate that the credit granted to the private sector recorded a growth of 3.9 percent

Outstanding credit facilities for GCC banks witnessed a healthy q-o-q growth of 2.1% during Q4-2023 with aggregate gross loans reaching $2 trillion, according to Kamco Invest, a regional non-banking financial powerhouse based in Kuwait.

Three-month copper on the London Metal Exchange was up 1.3% at $9,990 a ton in official open-outcry trading after peaking at $10,033.50 for its highest since April 2022

On the sidelines of the meeting, the two sides signed a memorandum of understanding to finance the infrastructure of a number of industrial zones in the Sultanate of Oman

The “weaponization” of the US dollar through the seizure of frozen Russian assets could prompt a global shift away from the greenback, Bloomberg reported on Wednesday, citing a former International Monetary Fund (IMF) official.  

Slow economic growth will push France out of the list of the world’s ten largest economies within five years, according to an updated global outlook from the International Monetary Fund.