The International Monetary Fund highlighted an increasing divergence in the growth paths of the world's major economies this year, as a pick-up in the Euro Zone and India is expected to be offset by diminished prospects in other key emerging
The world's growth potential took a big hit after the 2007-2009 financial crisis and is likely to lag for years, implying that interest rates should likely stay low for quite a while, the International Monetary Fund said in a study on Tuesda
Gulf banks have shown healthy earnings growth over the last year and a half despite historically low interest rates, according to a new Standard & Poor’s Ratings Services report.
The report titled ‘Economic Recover
Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity.
The central bank raised
Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed.
Lower rates of Internet service will broaden the adoption of UAE’s smart government services, accoding to ICDL GCC Foundation, an organisation that promotes digital skills and cyber safety across the Gulf region and Iraq.
The Egyptian central bank has instructed banks to 'strictly conform' to prevailing international market rates in trading of non-US dollar foreign currencies, according to a statement seen by Reuters.
"Kindly note that
Bahrain's four-star hotels have slashed room rates from a maximum of BD90 ($235) to as low BD50 per night during the upcoming Formula 1 season in bid to attract visitors, a top official said.
All four-star properties were spru