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Tripoli clashes intensifying, amid rising safety fears - IOM

The “dramatically deteriorating humanitarian situation” in Tripoli has highlighted that much more needs to be done to protect all non-combatants caught up in the battle for the Libyan capital, as the number of victims rises and thousands flee their homes, the UN said on Tuesday. In an update to journalists in Geneva, the UN migration agency, IOM, reported that […]

AfDB launches transaction guarantee to support SMEs, trade in Africa

The African Development Bank, through its Financial Sector Development’s Trade Finance operations, has launched a Transaction Guarantee instrument designed to provide up to 100% cover for non-payment risk to regional and international banks, for trade transactions initiated by local banks in Africa. The guarantee will cover an array of trade finance instruments, including confirmed letters […]

Turkish Firm to Invest $700m in Iraqi Steel Plant

A Turkish company will invest $700 million in an Iraqi steel plant to upgrade its production capacity to 1 million tons per year. Under the 18-year deal with the Iraqi ministry of Industry and Minerals, the Turkish company will rehabilitate and develop the iron and steel plant located in the Khor Al-Zubair, in Basra, that […]