Earlier, interest-free loans were announced for Emiratis whose businesses were affected by the rains, with a grace period of 6 to 12 months
uae5 hours ago
“$500 million have been paid into the finance ministry’s account via the Central Bank [of Egypt],” Egypt’s official Mena news agency quoted Finance Minister Mumtaz Al Said as saying.
The minister said Qatar would pay the remaining funds in September, reminding that the Gulf state had also given Egypt an additional $500 million in October last year.
Egypt on Wednesday asked for a $4.8 billion loan from the International Monetary Fund, or IMF, during a visit by director Christine Lagarde to Cairo. The IMF, for its part, stressed the need for a reform programme to deal with the country’s economic crisis. The meeting with Lagarde sent a “signal to investors... of a revival for the Egyptian economy,” said the minister.
Qatar’s decision to give $2 billion in financial aid to Egypt followed a recent meeting in Cairo between President Mohamed Morsi and the Amir of Qatar, His Highness Shaikh Hamad bin Khalifa Al Thani.
Earlier, interest-free loans were announced for Emiratis whose businesses were affected by the rains, with a grace period of 6 to 12 months
uae5 hours ago
Following a $3 per barrel average global price increase in March, petrol prices for April increased by 12 fils per litre in the UAE
uae5 hours ago
Annual rents in Dubai are usually paid in two, four or six instalments via post-dated cheques
business5 hours ago
NCM official says May 2-3 is identified as the ‘peak’ of the situation
weather5 hours ago
PSG are still involved in the Champions League in what could turn out to be the club's finest ever season
football10 hours ago
World number three Alcaraz, 20, missed a month prior to Madrid with a forearm issue
tennis10 hours ago
It was Chennai's fifth win from nine matches as they moved to third place in the points table with 10 points
cricket11 hours ago
Earlier, Arsenal held on for a pulsating 3-2 win over arch rivals Tottenham
football12 hours ago