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The hotels, among Egypt’s grandest, include the Cataract in Aswan, the Winter Palace in Luxor, the Mena House in Cairo and the Cecil in Alexandria
An over-valued currency, weak property rights and institutions, and an overbearing state and military have deterred investment and competition
The IMF was working with seven countries on debt restructurings, while a couple more would need help to reduce their debt burden
Economic expansion in Qatar is starting to normalise after the 2022 World Cup, according to a team from the International Monetary Fund.
The IMF and the World Bank, which are holding their annual annual meet in Morocco said the ongoing violence in Israel threatened to darken the already tepid global economic outlook
It has gradually lowered its overall growth forecasts for Saudi Arabia, the world’s biggest oil exporter, over the course of this year
According to the IMF, the Saudi economy was the fastest growing among the Group of Twenty (G20) member states in 2022
The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt
The impact of a slowdown in Saudi Arabia will be felt across the Middle East and Central Asia
The IMF sees the global GDP slipping to the 2.8 per cent range for this year, below the 2022 advance estimates of 3.4 per cent
The World Bank has forecasted a 2.8 per cent growth in the UAE’s real GDP for this year
The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue
The latest IMF World Economic Outlook update found that recession concerns have gained prominence, while worries about stubbornly high inflation persist
Emirates NBD said that the sukuk received strong appetite from regional and global emerging market investors
The kingdom’s real GDP grew by 5.4 per cent during the fourth quarter of 2022
According to the latest IMF report, UAE GDP growth is projected to reach above 6 per cent in 2022, up from 3.8 per cent last year
Saudi Arabia, Bahrain and the UAE moved in lockstep with the US central bank, raising their benchmarks by 75 basis points
Global economic expansion will likely slow to 3.2 per cent this year, less than the 3.6 per cent forecast by the fund in April
The IMF signalled just days ago that higher authorities needed to be in place in Sri Lanka in order for restructuring talks to resume
The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total
The IMF loan will be disbursed over four years in return for the phased implementation of an economic recovery plan
Gulf Capital has already invested over $300m in Egypt in sectors such as technology, infrastructure, manufacturing, petrochemicals and healthcare
The fund raised its economic growth projection for MENA to 4.1 per cent this year from an earlier estimate of 4 per cent
The fund projects Bahrain’s economy will grow 3.3 per cent this year
Offers for help flow from all over the world, GCC countries lead response
Egypt has reported 4,319 cases of the coronavirus, including 307 deaths
The nine-member external advisory group includes industry bodies such as the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions.
The Eurozone debt crisis poses the biggest threat to the global economy, says IMF chief.
The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.
A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.