Iran’s President Sent a Bill to Parliament That Would Cut Four Zeroes From Its Currency
Iran’s president sent a bill to parliament Wednesday that would cut four zeroes from the value of the country’s sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington. By sending the bill to lawmakers, President Hassan Rouhani’s government shows it is serious about an idea mulled... Read more
Israel and South Korea Sign a Free Trade Agreement
Israel and South Korea signed a Free Trade Agreement Wednesday, which is expected to greatly reduce the cost of cars and electronics imported from Seoul. Israeli Economy Minister Eli Cohen and visiting South Korean Trade Minister Yoo Myung-hee announced the finalization of the accord at a ceremony in Jerusalem.... Read more
IPO Activity in the GCC Has Seen a Slight Increase in the Second Quarter of this Year
IPO activity in the GCC has seen a slight increase in the second quarter of this year, with two companies listing on Saudi Arabia’s Tadawul, said services firm PwC in its GCC Capital Markets Watch report. Saudi Aramco’s $12 billion bond issuance marked the quarter’s most significant transaction from... Read more
Iran, India Trade Volume Exchange Must Increase to $30 Billion
Based on planned perspectives trade volume exchange between Islamic Republic of Iran and India must increase up to $30 billion. Consul General of the Islamic Republic of Iran in India’s Hyderabad Mohammad Haghbin Qomi made the remarks in Bushehr province on Wednesday and put the trade volume exchanged between... Read more
Algeria’s Trade Deficit Amounted to $3.18 Billion During the H1 of 2019
Algeria’s trade deficit amounted to $3.18 billion during the H1 of 2019 against $2.84 billion during the same period of 2018, official data showed on Tuesday. Algerian exports totaled $18.96 billion during H1 2019 compared to $20.29 billion during the same period in 2018, down 6.57 percent. Meanwhile, imports... Read more
Morocco’s Internal Debt Stood at $59.3 Billion at the End of July
Morocco’s internal debt stood at $59.3 billion at the end of July, up 2.7 percent from the beginning of the year, reaching 49.5 percent of the country’s gross domestic product (GDP). The government resorted to borrowing $7.2 billion in the tender market of treasury bonds during the first seven... Read more
Turkish Lira Weakened As Investors Remain Cautious of Emerging Markets
Turkey’s lira weakened more than 1% on Tuesday, declining for a third straight trading session, as investors remain cautious of emerging markets after the Argentinian peso fell to a record low against the dollar. The lira stood at 5.6245 against the dollar at 1217 GMT, down some 1.1% from... Read more
Saudi and US Energy Officials Discuss the Condition of the Oil Market
Saudi Energy Minister Khalid al-Falih and US Energy Secretary Rick Perry discussed on Tuesday the condition of the oil market and the Kingdom’s keenness to stabilize it. The meeting in Washington was attended by Saudi Ambassador to the US Princess Reema bint Bandar bin Sultan. The officials also expressed... Read more
Turkey Treasury’s Cash Balance Sees Surplus of $730 Million in July
Turkey’s Treasury and Finance Ministry announced Wednesday that the Treasury’s cash balance last month saw a surplus of 4.07 billion Turkish liras ($730 million).  In July, the Treasury’s cash revenues amounted to nearly 89.5 billion Turkish liras ($16.03 billion), showing a 51.5% jump on a yearly basis. Including interest... Read more
Asian Development Bank Approves $500 Million Policy-based Loan for Pakistan
The Asian Development Bank (ADB) has approved a $500 million policy-based loan for Pakistan to support the country’s reforms to improve trade competitiveness and export.  According to ADB statement on Wednesday, the bank has also approved a $750,000 technical assistance package to support the preparation and implementation of the... Read more