First Independent Mena Newspaper
For the first time in 27 years, the New York stock exchange market closed due to extreme weather conditions. During these last few days the proximity of Hurricane Sandy to this economical center of the US has been known. Many roads were blocked and thousands of residents were told to evacuate. But the decision to […]
The Egyptian government is reportedly seeking financial assistance from Algeria in the form of a $2 billion deposit. Egyptian government sources were quoted by the media as saying that the matter would be discussed at the talks Egyptian Prime Minister Hisham Kandil is holding this week in Algeria with Algerian officials, including with Premier AbdelMalek […]
Tunisia will get EUR 4 million in the framework of the Micromed Program, an initiative launched by the European Investment Bank (EIB) to help promote the microfinance sector in Mediterranean partner countries. The MicroMED Tunisia program was established in response to a call for assistance from the Tunisian Administration in its endeavor to develop the […]
Morocco, which is already a regional leader in microcredit, is poised to develop its strategy in the sector, the aim being to increase the number of beneficiaries to 3.2 million people and to create some 2 million part time jobs by 2020. The announcement was made last week on the sidelines of the international conference […]
A deal has been reached for the acquisition of Al Rashad Finance and Management Advisory JSC (Rashad) together with its business, operations and financial services license by Arqaam Capital. Rashad which was established in the beginning of the year will now be operating under Arqaam Capital Libya and help clients of Arqaam’s regional network participate […]
The Casablanca Finance City, an emerging regional financial hub in Africa, has partnered with the CityUK to develop of the securities and derivative markets, boost education and training in the financial services sector and build an insurance and reinsurance sector that will benefit the wider African market. Chris Cummings, chief executive officer of TheCityUK, said: […]
Tunisia Amen bank, the 2nd largest private bank in the North African country, has received backing from the International Finance Corporation, a member of the World Bank, to boost the company’s efforts to improve governance and modernize management practices. The IFC backing comes at a time when Tunisian banks are implementing new central bank regulations […]
The World Bank has warned that the fiscal crisis in the Palestinian territories is deepening, urged donors to take urgent action to face up the situation and called for lifting the barriers preventing the private sector development. In a report on Palestinian economy monitoring released Wednesday, the international financial institution underscores the key role a […]
Morocco, Jordan and Tunisia will soon benefit from investments coming from Europe’s Bank for Reconstruction and Development (EBRD) as their economies continue to struggle. The bank is looking forward to an investment that could swell up to 200 million Euros. The investment in these three countries will be followed by several similar projects in the […]
One of the banks in Qatar has announced its intentions to raise its capital value in a released statement. The bank, Ahli bank, is ranked as the seventh-largest listed by market value. It is hoping to lift up its actual capital by 20 percent. It has therefore stated that it will be issuing rights during […]