Middle East Business News

Oman Mulls VAT Move After January 2022 To Shore Up Finances

A joint committee of the State Council and Shura Council suggests time frame and sends draft law for approval to Sultan ... Read more

$8.8bn Wiped Off Lebanon's Foreign Assets As Crisis Deepens

Banker raises doubts over Central Bank's artificial minimum threshold Read more

US VC Fund Village Capital Looks To Invest In UAE Tech Start-ups

UAE early stage ventures could get investments to the tune of $500,000 to $2 million via MetLife Foundation Impact Fund Read more

UAE Commodities Firm Shuts Trading Desks After Coronavirus Blow

Sources say GP Global Group decided to stop trading commodities from energy to agriculture after banks withdrew credit l... Read more

Saudi Chemical Giant To Tap Bond Market For $1bn

Saudi Basic Industries Corp loses $592m in the second quarter as the coronavirus pandemic hit economies across the globe Read more

Dubai's DP World Confirms $4.5bn Investment Deal For Ports

Port operator says that despite Covid-19 it is well positioned to face the current challenges experienced by the industr... Read more

Abu Dhabi Completes $5bn Bond Issue To Support Non-oil Expansion

Abu Dhabi Department of Finance chief hails success of issuance in midst of coronavirus crisis Read more

UAE's Largest Lender Set To Start Talks On Israeli Banking Tie-ups

First Abu Dhabi Bank says to talk with Bank Hapoalim and Bank Leumi to forge cooperation in the financial sector Read more

Gulf Investor With $540m In Cash Says M&A Spree Not Over

IHC shares have soared more than 500% in 2020, giving the company a market capitalisation of about $19bn Read more

Egypt Completes $2bn Financing Deal To Support Budget

Minister of Finance says Egypt is continuously diversifying its funding sources by tapping regional as well as Islamic s... Read more

UAE Central Bank Boosts Liquidity With $4.3bn Cash Injection

Certificates of deposit dropped to $53bn by the end of May, from $54bn in April Read more

Dubai Gov't Offers $2bn Aid To Emirates Amid Coronavirus Impact

Bond prospectus shows extent of government support to airline over the past five months after coronavirus brought global... Read more

Kuwait Finance Ministry To Mull Halving $66bn Debt Ceiling

Finance and economic committee has also suggested reducing the period for borrowing Read more

Lead Lebanon Negotiator For IMF And Eurobond Restructuring Quits

Talal F. Salman is the third ministry official to quit over Lebanon's response to its financial crises Read more

Half Of Lebanese Could Face Food Shortages: UN

Government priority must be given to rebuilding silos at Beirut port, says UN Economic and Social Commission for Western... Read more