Egypt is seeking $5bn in bilateral financing to complement the $12bn that the IMF plans to lend Cairo to support the fund’s three-year economic stabilisation programme, the IMF’s Middle East & Central Asia department director Masood Ahmed said at a press…
Month: October 2016
Saudi shale gas to start in 2017
Saudi Aramco chief executive Amin Nasser said yesterday that the company plans to start producing gas from the Waad al-Shamal project in the north-west of the kingdom in late 2017 as part of a programme to double gas output…
Fitch upgrades Jebel Ali Free Zone
Fitch Ratings has upgraded Jebel Ali Free Zone FZEs (JAFZ) long-term issuer default rating (IDR) to BBB from BBB- with a stable outlook. Fitch has also upgraded JAFZ Sukuk (2019) Limited’s senior unsecured rating to BBB from BBB-. The rating…
Saudi officials in New York for bond talks
Senior representatives of Saudi Arabia’s finance industry are due to meet investors in New York today and tomorrow to brief them about plans for Saudi Arabia to issue the Middle East’s largest sovereign bond and sell shares in Saudi Aramco…
IMF says Iran GDP growth to be 4.5 per cent this year
The IMF said in a statement released today at the end of annual Article IV talks with Iran that the Islamic republic’s economy will expand robustly this year, inflation is moderating and the government is implementing major reforms to accelerate growth.…
Saudi government borrowing slowed in August
Saudi Arabian government bonds held local banks rose by 1.4 per cent to SR 169,677m ($45.2bn) in August, figures contained in the Saudi Arabian Monetary Agency (Sama) monthly statistical bulletin published on 29 September show. This is the smallest increase…