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Saudi Trade Represents Half of Dubai's Trade with GCC
Saudi Arabia >> 1/10/2016 - Saudi Arabia has retained its position as the top trading partner of Dubai among the GCC states, the Arab countries and the Middle East, and has been the fourth top trading partner of Dubai on the glo...
Suez Canal Revenues Down 5.3% in 2015
Egypt >> 1/13/2016 - Egypt’s Suez Canal revenues dropped by 5.3 percent in 2015 to US$5,175 billion, down from US$5,465 billion, Suez Canal Authority chief Mohab Mamish said.

Mamish attributed the fall to a st...
Egypt’s Finance Ministry Auctions T-bills at EGP 7.5bn
Egypt >> 1/18/2016 - The Finance Ministry auctioned treasury bills at a total value of EGP 7.5 billion.

In an online statement, the ministry said it sold EGP 3 billion of 91-day T-bills. The average yield was 11....
56,000 Investors Pumped AED136bn in Dubai's Real Estate Sector
United Arab Emirates >> 1/18/2016 - The value of real estate investment transactions made by overseas buyers in Dubai in 2015 exceeded AED135 billion, up 24 per cent from AED109 billion of transactions reported in 2014, the Dubai Land D...
Egypt's Central Bank not moving Toward Weakening The Pound
Egypt >> 2/16/2016 - Egypt's central bank is not moving toward devaluing the pound or floating its currency, a central bank official said in remarks published by the state news agency on Tuesday, as demand for dollars in ...
CBE: There is no Intention to Reduce Pound Exchange Rate
Egypt >> 2/23/2016 - The Central Bank of Egypt (CBE) will not reduce the exchange rate of the Egyptian pound before the foreign reserves reach US$25 billion or $30 billion, stated CBE Governor Tareq Amer.

Amer ad...
Egypt's Finance Ministry Reveals VAT-free Goods and Services
Egypt >> 5/20/2016 - Egypt's finance ministry has listed 52 commodities and services that will be exempted from a new value-added tax (VAT), which is expected to be applied this year after it is approved by parliament.
Iran Attracts Over $3.4bln in 10 Months
Iran >> 5/21/2016 - Government Spokesman Mohammad Baqer Nobakht announced that Iran has attracted over $3.4 billion of foreign investment in less than one year.

"We have managed to attract $3.481 billion of inve...
Egypt Sets Ceiling for Drug Price Increase at EGP 6 per pack
Egypt >> 5/26/2016 - Egypt imposed a EGP 6 ceiling per pack on the increase in the price of medicines, after a number of pharmacists and drug companies circumvented an earlier decision to raise fixed prices, MENA agency q...
Tarek Qabil: Egypt’s non-Petroleum Exports up
 Tarek Qabil: Egypt’s non-Petroleum Exports up Egypt >> 5/31/2016 - Egypt's non-petroleum exports have increased in April 2016 to $1.7 billion, compared to $1.6 billion in the same month of 2015, an increase of 8.85 percent, said Trade and Industry Minister Tarek Qabi...
UAE: Arabtec to Use $272 mln Reserves to Wipe Out Losses
United Arab Emirates >> 6/1/2016 - A meeting of shareholders in Dubai-listed construction firm Arabtec Holding approved a plan to use 1 billion dirhams ($272 million) of the company's statutory reserves to wipe out some of its accumula...
Sudan Inflation Rate Rises to 13.98 Percent in May
Sudan >> 6/12/2016 - Sudan's annual inflation rate rose to 13.98 percent in May from 12.85 percent in April, on the back of a sharp rise in the prices of food and beverages, Sudan's Central Statistics Office said.

...
Egypt's Beltone Financial Plans to Entice Overseas Investors with GDRs
Egypt >> 6/12/2016 - Egypt's Beltone Financial , a unit of billionaire businessman Naguib Sawiris's OTMT, said it planned to convert up to a third of its share capital into Global Depositary Receipts (GDRs) listed abroad....
Saudi central bank fights to curb money rate rise
Saudi Arabia >> 8/3/2016 - Saudi Arabia's central bank is having only mixed success in using money market tools to fight a surge in market interest rates caused by low oil prices, and may need to resort to more radical steps, c...
Egypt closed 53 forex bureaus since beginning of year
Egypt closed 53 forex bureaus since beginning of year Egypt >> 8/19/2016 - A total of 53 foreign exchange bureaus have been closed since the start of the year, deputy governor at the Central Bank of Egypt (CBE) Gamal Negm said .

The CBE has closed a large number o...
Sisi Issues VAT Law after Parliament Approval
Sisi Issues VAT Law after Parliament Approval Egypt >> 9/18/2016 - President Abdel Fattah El Sisi issued the Value Added Tax (VAT) law after it was approved by the House of Representatives.

The law, to be published in the Gazette, revokes law no. 11/1991 ...
Noor Bank wins ‘Innovator in Islamic Finance’ Award
United Arab Emirates >> 9/3/2017 - Noor Bank has announced that it won the Innovator in Islamic Finance 2017 award in the Process Innovation category from the New York-based Global Finance magazine.

Speaking about the win, Ehs...

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