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Arab Monetary Fund to Provide Loans to Morocco, Tunisia

Arab Monetary Fund to Provide Loans to Morocco, Tunisia

The Arab Monetary Fund has agreed to provide loans of USD211 million to Morocco and USD98 million to Tunisia to help the North African countries deal with the coronavirus crisis.

IMF Agrees on $5.2 Billion for Egypt as it Grapples with Virus

IMF Agrees on $5.2 Billion for Egypt as it Grapples with Virus

The International Monetary Fund said Friday it has reached an agreement with authorities in Egypt to allocate $5.2 billion to help the country cope with the economic fallout of the coronavirus outbreak. “This will safeguard the gains achieved by Egypt over the past three years and put the country

G20 Pledges More than $21 Billion in Virus Fight

The G20 has pledged more than $21 billion to fight the coronavirus pandemic, the group said early on Saturday. "The G20, with invited countries, has coordinated the global efforts to support the fight against the COVID-19 pandemic.

Lebanese Money Changers Buy Dollars at Minimum 3,950 Pound Rate

Lebanese Money Changers Buy Dollars at Minimum 3,950 Pound Rate

Lebanese money changers said on Wednesday they would buy US dollars for a minimum of 3,950 Lebanese pounds and sell them at a maximum price of 4,000 pounds, marking the end of a one-month strike. The pound has fallen by around 60% from the official exchange rate of 1,507.5 pounds since October du

Saudi Arabia Launches 3rd Shipping Lane in 2020

Saudi Arabia Launches 3rd Shipping Lane in 2020

Saudi Arabia announced Tuesday a strategy to develop its ports to ensure the flow of goods through supply chains. The Saudi Ports Authority (Mawani) announced launching the third shipping lane for the coastal transportation of container ships in the Red Sea. It was launched across Jeddah Islam

KSA: COVID-19, Declining Oil Prices Put Pressure On Contracting Market

KSA: COVID-19, Declining Oil Prices Put Pressure On Contracting Market

A Saudi government agency revealed that the local contracting market was witnessing a slowdown as a result of the decline of oil prices and the outbreak of COVID-19. It added that with the containment of the pandemic, the Kingdom will see a gradual growth of demand for existing buildings and new

Confusion Threatens International Trust In Lebanon's Government

Confusion Threatens International Trust In Lebanon's Government

A dispute over the implementation of the government’s electricity rehabilitation plan has drawn local and international attention and criticism over the Cabinet’s “inability to respect its decisions.” The government went back on an earlier decision to annex the Salaata power plant project to the

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