IDH

Egypt’s biggest investment bank takes over state-run Arab Investment Bank

EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]

IMF reviews upwards Morocco’s economic growth in 2021 to 5.7 %, best performance in MENA region

The International Monetary Fund (IMF) has reviewed upwards its economic forecasts for Morocco saying the Kingdom’s growth is expected to reach 5.7 % in 2021, which is the best performance in the Middle East & North Africa Region. The IMF new outlook takes into account several factors including the resilience of Moroccan economy and the […]

Libya: US ambassador to Libya nominated but will wait

Former Assistant Chief of Mission for Assistance Transition and Coordinator for Minority Issues at the US embassy in Iraq and current US ambassador to Nepal, Peter Bodde, has been appointed new US ambassador to Libya in replacement of the outgoing ambassador Deborah K. Jones. The White House confirmed Peter Bodde as the new US ambassador […]