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Tag Archives: loans

IMF warns of dangers of crypto-currencies

The advent of digital currencies in emerging markets could spark “cryptoization” of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday. Bitcoin and its kin have in the last year soared in price and popularity, with emerging and developing market economies …

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IMF gets new Saudi executive officer

Saudi Minister of Finance Mohammed Al-Jadaan has appointed Abdullah bin Zaraa as head of the Saudi executive office at the International Monetary Fund, Argaam reported. Bin Zaraa was chief operating officer and chief executive officer of the National Debt Management Center. Saudi Arabia’s executive office is a permanent member of the …

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EU bemouns political devision in Lebanon

The European Union’s foreign policy chief said on Sunday a fight among Lebanese leaders to secure power is at the heart of its government crisis and he urged them to set their feud aside and form a cabinet or risk a total financial crash and sanctions. Speaking after talks with …

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Hariri, Macron talk new government, financial crisis

Lebanese Prime Minister-designate Saad al-Hariri on Wednesday dined with French President Emmanuel Macron to discuss the crisis in Lebanon and the difficulties in forming a new government, according to Hariri’s Twitter account. “Presidents Hariri and Macron discussed the internal Lebanese difficulties that hinder the formation of the government and the …

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IMF preparing next billion dollar loan to Egypt

The International Monetary Fund on Friday said it had reached a staff-level agreement with Egypt for a one-year, $5.2 billion standby loan to help the North African country grapple with the novel coronavirus pandemic and its economic fallout. The agreement, which must be finalized by the Fund’s executive board, would …

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ENOC wins mega-loan from China

ENOC Group has secured a five-year US$690 million term loan from a Chinese consortium of banks as China’s biggest financial institutions endorse the Group’s operational and financial health. The term loan will finance general corporate purposes as ENOC continues to fuel the local economy through its business divisions in exploration …

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Dubai’s new Mortgage Law can be the right stimulus

Dubai’s proposed “Mortgage Law” intends to create greater depth in the property marketplace, in particular by making it easier for specialised funds to come in and take up exposures. Another target of the law would be create “alternative financing methods” over and above what is offered via direct bank finance. …

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Financing initiative launched to support Emirati-owned SMEs

Emirates Development Bank, the lender set up to help finance local developmental, residential and industrial projects, said on Monday it would begin funding small and medium-sized enterprises (SMEs). Focusing on SMEs owned and operated by UAE nationals, the initiative is intended to support the economic and social development of the …

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U.S. pending home sales rise modestly in November

Reuters – Contracts to buy previously owned U.S. homes rose only modestly in November, pointing to a still-sluggish housing market despite several months of stronger economic growth and hiring. The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed last month, gained 0.8 …

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