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2 weeks ago | 
arab.news | Mohammed Al-Kinani |Miguel Hadchity |Nirmal Narayanan |Nour El-Shaeri
WASHINGTON: Global finance leaders came to Washington this past week seeking clarity on what it would take to get some relief from President Donald Trump’s multi-layered tariff assault and on just how much pain it will bring to the world economy. Most headed home with more questions than answers.
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2 weeks ago | 
arab.news | Nadin Hassan |Nour El-Shaeri |Nirmal Narayanan |Ismail Dilawar
WASHINGTON: Pakistan has put in a request to China to augment its existing swap line by 10 billion yuan ($1.4 billion), Finance Minister Muhammad Aurangzeb said, adding he expected the country would launch a Panda bond before year-end. Pakistan has an existing 30 billion yuan swap line already, Aurangzeb told Reuters in an interview on the sidelines of the International Monetary Fund and World Bank Group spring meetings in Washington.
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2 weeks ago | 
arab.news | Nadin Hassan |Nour El-Shaeri |Nirmal Narayanan |Ismail Dilawar
KARACHI: Pakistan’s foreign exchange reserves have more than tripled since early 2023, driven by a surplus in the external current account rather than fresh borrowing, the top central bank official said, according to a statement on Saturday, as the country targets $14 billion in reserves by June. Pakistan’s forex reserves had touched critically low levels two years ago, giving it an import cover of less than a month.
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2 weeks ago | 
arab.news | Nour El-Shaeri |Nirmal Narayanan |Naimat Khan
Saudi Arabia’s webook.com eyes billion-dollar valuation, global expansion /node/2598526/business-economy April 26, 2025 13:20 Saudi Arabia’s webook.com eyes billion-dollar valuation, global expansion RIYADH: Saudi Arabia-based event booking platform webook.com has unveiled an ambitious roadmap aimed at achieving a billion-dollar valuation and a future listing on the stock exchange.
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3 weeks ago | 
arab.news | Nirmal Narayanan |Nour El-Shaeri |Ismail Dilawar
KARACHI: The State Bank of Pakistan is finalizing a green taxonomy framework set for launch in June, the finance minister said this week, paving the way for innovative instruments such as green bonds, green sukuks, and the country’s inaugural panda bond. In May 2021, Pakistan issued its first $500 million green bond to fund a hydroelectric project.
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3 weeks ago | 
arab.news | Nirmal Narayanan |Nour El-Shaeri |Nadin Hassan |Mohammed Al-Kinani
Saudi Arabia raises $990m through April sukuk issuance /node/2598025/business-economy April 22, 2025 18:39 Saudi Arabia raises $990m through April sukuk issuance RIYADH: Saudi Arabia’s National Debt Management Center raised SR3.71 billion ($990 million) through its riyal-denominated sukuk issuance for April, reflecting a 40.5 percent increase compared to the previous month, according to an official statement.
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3 weeks ago | 
arab.news | Mohammed Al-Kinani |Reem Walid |Nirmal Narayanan |Miguel Hadchity
ZURICH: Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalization, has resigned as chair of its trustees. The Geneva-based WEF made the announcement on Monday after revealing earlier this month that the 87-year-old Schwab, who for decades has been the face of the Davos get-together, would be stepping down, without giving a firm timeline.
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4 weeks ago | 
arab.news | Mohammed Al-Kinani |Nirmal Narayanan |Reem Walid |Ismail Dilawar
Red Sea tensions slash Suez Canal revenue as Egypt pushes diplomatic path /node/2597453/business-economy April 17, 2025 15:34 Red Sea tensions slash Suez Canal revenue as Egypt pushes diplomatic path JEDDAH: Amid escalating tensions in the Red Sea, Egypt’s Prime Minister Mostafa Madbouly reaffirmed the country’s commitment to diplomatic solutions as disruptions to international shipping through the Suez Canal led to a dip in revenues.
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1 month ago | 
arab.news | Nirmal Narayanan |Nadin Hassan |Reem Walid
Saudi industrial output rises in Feb. on manufacturing gains: GASTAT /node/2596523/business-economy April 10, 2025 11:08 Saudi industrial output rises in Feb. on manufacturing gains: GASTAT RIYADH: Saudi Arabia’s Industrial Production Index saw a modest rise in February, driven by stronger manufacturing activity as the Kingdom pushes ahead with its economic diversification agenda.
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1 month ago | 
arab.news | Nour El-Shaeri |Nirmal Narayanan
Italy’s Eni to invest $26bn in North Africa over next 4 years, CEO says /node/2596388/business-economy April 09, 2025 10:56 Italy’s Eni to invest $26bn in North Africa over next 4 years, CEO says RAVENNA : Italian energy group Eni will invest around €24 billion ($26.24 billion) in Algeria, Libya and Egypt over the next four years to help boost energy production, CEO Claudio Descalzi said on Tuesday.
