Finance

D-8 to Gain More Importance in Years to Come

Istanbul, Turkey, December 07, 2009

Developing-8 (D-8) Organization for Economic Cooperation Secretary-General, Dipo Alam, has predicted that the trade volume among D-8 member countries will increase from its current level of 6 percent to 10 to 15 percent of the organization’s total trade by 2018, ...

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ADB Provides Bangladesh 22 mln USD for Tourism, Bridge Design Development

Dhaka, Bangladesh, December 07, 2009

The Asian Development Bank (ADB) and the Bangladeshi government Monday signed two agreements worth 22 million U.S. dollars in soft loans which aimed at promoting tourism and completing design of a bridge in the South Asian country. The ADB said ...

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Malaysia is Keen to Enhance Islamic Finance Sector: Zeti

Kuala Lumpur, Malaysia, December 07, 2009

Malaysia has shortlisted two foreign banks to be licensed as mega-Islamic banks with a minimum capital of $1 billion each. At the same time the country currently has 14 wholly-owned foreign banks (both conventional and Islamic) and may give another ...

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Islamic Finance Industry: Malaysia’s Next Big Thing?

Kuala Lumpur, Malaysia, December 03, 2009

The threat of Dubai’s billion-dollar debt default is casting a shadow here in Malaysia, the would-be global center of the fast-growing Islamic finance industry. Islamic finance is designed to comply with Shariah law, forbidding interest on loans and investment in ...

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Bangladesh’s July Balance of Payments Surplus Reaches $694 mln

Dhaka, Bangladesh, October 26, 2009

Boosted by a surge in remittances, Bangladesh’s overall balance of payments surplus reached 694 million U.S. dollars in July, the first month of the current 2009-10 fiscal year, the central bank data showed Monday last week. The overall balance of ...

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Turkish Treasury Injects TL 1 billion (approx. 680m USD) to Boost Small Companies

Istanbul, Turkey, October 19, 2009

A protocol between the Turkish Treasury and the Loan Insurance Fund (KGF) governing the transfer of TL 1 billion was signed last week at the TOBB University of Economics and Technology with the attendance of Economy Minister Ali Babacan, Industry ...

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D-8 Gears Up to Welcome the Revival of Micro-insurance and Islamic-Bond Market

Cairo, Egypt, October 10, 2009

According to the Wall Street Journal media, Indonesia, Pakistan and South Korea Could Net $2 Billion With Shariah-Compliant Offers Planned for Next Year. Along the same line, in the recent meeting in Cairo, D-8 set to provide platform of cooperation ...

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UNCTAD, Japanese Bank Develop Plan for Nigeria’s Economic Vision

Abuja, Nigeria, October 05, 2009

The United Nations Conference on Trade and Development (UNCTAD) and the Japan Bank for International Cooperation (JBIC) have developed a 15-point action plan to assist Nigeria attract more Foreign Direct Investments (FDI) and thereby achieve its 20:2020 vision. The initiative, ...

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Foreign Investment Ups in Iran Despite Global Downturn

Tehran, Iran, October 04, 2009

A UN agency report shows Iran attracted $1.6 billion in direct investments from abroad in 2008 despite a 20% decrease in the global flow of direct foreign investment, an Iranian official says, in a report by PressTV. New data released ...

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Egypt Named One of the World’s Top Economic Reformers by World Bank

Cairo, Egypt, September 25, 2009

Despite tough economic conditions, Egypt is continuing to strengthen its position not only as one of the world’s leading outsourcing destinations but also as a successful business location. Reports published this week by the World Economic Forum and the World ...

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