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AD Ports Group refinances $2.25bn debt, cuts borrowing costs

AD Ports Group has refinanced a $2.25bn syndicated loan, securing more favourable terms with two UAE-based banks. The move is expected to result in savings...

UAE, Egypt discuss strategic cooperation during high-level meet

The UAE’s President Sheikh Mohamed bin Zayed Al Nahyan hosted Dr Badr Abdel Ati, Egypt’s Minister of Foreign Affairs and Migration, at Qasr Al...

Egypt’s central bank leaves overnight interest rates steady

Egypt’s central bank as expected left its overnight interest rates on hold on Thursday, saying inflation pressures had subsided but that economic growth had softened. The bank...

UAE’s economy grew 3.4% in first quarter of 2024

The UAE’s economy grew 3.4 per cent year-on-year in the first quarter of 2024 to reach $117.1bn (Dhs430bn), according to the Federal Competitiveness and Statistics Centre,...

GCC poised for strong growth in 2025: ICAEW report

The Gulf Cooperation Council (GCC) region is set for a sharp economic rebound, with growth expected to surge to 4.4 per cent in 2025,...

UAE mortgage provider Tamweel resumes lending

Tamweel PJSC, the UAE Islamic mortgage provider, has resumed lending again after two years, the company announced in a statement. Starting Monday the company will offer...

Spain’s Bankinter takes on Irish banks with deposit move

Bankinter (BKT.MC), opens new tab said on Friday it was applying for a full Irish banking licence and entering the deposit market as part of the...

France ready to finance Morocco’s 3GW power link to Western Sahara

France is ready to participate in funding a 3 gigawatt power cable linking the Moroccan city of Casablanca to the town of Dakhla in...

European bank stocks at highest since 2015 after earnings boost

European banking stocks hit their highest level since 2015 on Friday, helped by first-quarter earnings that beat forecasts and signalled lenders remained in a...

What’s going on with the planned international mission to Haiti?

Haiti's transitional presidential council has taken over in what many hope marks a first step towards returning security to a country where escalating gang control has...

French ratings reprieve reason to push harder on budget, minister says

France should step up its efforts to revive its public finances and meet its medium-term fiscal target, Finance Minister Bruno Le Maire said on...

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