Banking and Finance

Islamic finance grows despite global economic turmoil

US deputy treasury secretary in Turkey to warn against evading Russian sanctions

In a visit to Ankara Wednesday, US Treasury Deputy Secretary Wally Adeyemo plans to remind Turkey that anyone evading US sanctions against Russia will be held accountable.

Iran, Russia to establish trade centers

The two countries will focus on energy-related trading and establishing a north-south corridor to rival the Suez Canal.

Gulf banks waste no time raising rates in response to US Fed

Gulf states have already raised rates twice this year in response to the US monetary actions.

Gulf states blacklist terror financiers linked to Iran, Islamic State, Syrian regime

Lead figures in the Assad regime’s Qatirji oil-smuggling network were among those sanctioned.

Israel interest rates to continue upward trend

Battling growing inflation, the Bank of Israel has significantly raised the country’s interest rates twice in recent weeks.

How interest rate hikes affect Egypt’s economy

The central bank may raise rates further by 100 to 200 basis points in 2022 to be in line with tightening global monetary policies. Yields on T-bills are set to rise.

Turkey’s middle class priced out of home ownership

Buying a home has become an elusive dream even for middle-class professionals in Turkey as the country’s economic woes erupt into a perfect storm over the housing market.

Turkish lira continues to fall

Turkey is in the midst of an economic crisis marked by high inflation.

UAE meets $400 million target in first bond auction

The Emirati government decided to sell bonds in dirhams to boost the local banking sector and diversify financially.