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Massoud A Derhally

Massoud A Derhally

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Articles

Saudi Arabia will push back an opening date for its ports following the delay of coronavirus vaccines. Shuttershock
Saudi Arabia's sovereign fund to boost assets under five-year strategy to $1.07tn

The kingdom will invest at least $40bn a year until 2025 which will help create jobs and pump billion of dollars into the non-oil economy

EconomyJanuary 26, 2021
The global economy will grow 5.5% in 2021 as countries roll out Covid-19 vaccines, according to the IMF. Reuters
IMF raises 2021 global economic outlook on vaccine roll out

The Washington-based lender called on governments to implement policies that strengthen the recovery and make it inclusive, resilient and green

EconomyJanuary 26, 2021
Iranian rial banknotes on display at a currency exchange in Tehran, Iran. The currency has plunged more than 70% in the wake of tougher US sanctions by the outgoing administration of former president Donald Trump. Getty Images
Iran’s rial rallies 13% since December on Trump departure

The currency has strengthened on the prospect of improved relations with the US and Washington's return to the nuclear deal

EconomyJanuary 21, 2021
Adnoc awarded exploration rights for Abu Dhabi’s Offshore Block 3 to a consortium led by subsidiaries of Italy's Eni and Thailand's PTT Exploration and Production Public Company Limited. Reuters
Adnoc awards Eni and PTTEP consortium offshore exploration block

The companies will invest up to Dh1.51bn during the exploration phase for Offshore Block 3

EnergyDecember 21, 2020
A restaurant in Baghdad. The World Bank said millions of Iraqis could be pushed into poverty due to Covid-19 and low oil prices AFP
Play24:01:46
Iraq's central bank devalues currency by nearly 23%

The country's economic distortions have been exacerbated by the twin shocks of the Covid-19 pandemic and lower oil revenue

EconomyDecember 20, 2020
King Salman signs the 2021 state budget following a virtual cabinet meeting in Riyadh, late Tuesday. Saudi Press Agency via AP
Saudi Arabia to spend 990bn riyals as economy set to grow 3.2% in 2021

Arab world's largest economy projects revenues of 849bn riyals next year

EconomyDecember 16, 2020
DoorDash twitter account on a smartphone during the company's initial public offering on Wednesday, December 9, 2020. DoorDash opened 84% above its IPO price. That's the third-best opening pop of 2020, excluding deals that raised less than $1bn. Bloomberg
DoorDash's stellar debut helps rewrite SoftBank's trackrecord

America's largest food delivery company saw its share price close up 86% on its first day of trading

MarketsDecember 10, 2020
SoftBank Group's profit rebounded after a global rally in tech shares helped it improve its start-ups' valuations. AFP
SoftBank Vision Fund to boost tech investments and eyes more IPOs

Last week it made its first e-scooter investment, leading a $250m investment in Germany’s Tier, the largest funding round for a European e-scooter company to date

TechnologyDecember 07, 2020
A woman withdraws money from an ATM machine at the entrance of a bank in Beirut on December 01, 2020. Lebanon's economy is sinking into a 'deliberate depression', the World Bank said citing the authorities' failure to tackle the crisis. AFP
Lebanon in a 'deliberate depression' and faces dire consequences, World Bank says

The collapse of Lebanon’s currency has caused inflation to soar to 137%

EconomyDecember 02, 2020
Lebanon’s caretaker finance minister Ghazi Wazni formally asked the central bank governor to share all information requested for a forensi audit. AFP
Lebanon’s caretaker finance minister asks central bank to submit data for forensic audit

An assessment of the regulator is required before the country can tap international aid and a $10bn IMF bailout package

EconomyDecember 02, 2020
The amendments supersede and cancel the foreign direct investment law of 2018. Chris Whiteoak / The National
UAE revamps foreign ownership rules for commercial companies

Amendments to the Commercial Companies’ law further opens up economy to all nationalities

EconomyNovember 25, 2020
Lebanese President Michel Aoun said he is determined to fight corruption after an auditing firm tasked with reviewing the country's central bank pulled out. AFP
Unfazed by withdrawal of auditing firm, Lebanon’s president vows to fight corruption

Michael Aoun says the country faces an existential battle and calls on citizens to stand united

EconomyNovember 22, 2020
Lebanese riot police outside Lebanon's central bank, where protesters took place in April. Auditing firm Alvarez & Marsal contracted by Lebanon's government to conduct a forensic audit of the central bank pulled out the deal because it was not able to acquire needed information. AP
Lebanon in limbo after auditors terminate agreement over lack of access to data

An audit of the country's central bank is critical to securing aid from the International Monetary Fund and other organisations and countries

EconomyNovember 21, 2020
The UAE has emerged as one of the top five most globally connected countries in the world according to the DHL Global Connectedness Index 2020 released Dec.9. Reuters
Emirates chief expects 'steep' travel demand recovery despite Covid-induced first half loss

Cargo demand helped revenues recover to 26 per cent from zero

AviationNovember 14, 2020
The International Monetary Fund said the pandemic risks amplifying the weakness of fragile states. EPA
Covid worsens Middle East and Central Asia’s challenges, IMF says

The coronavirus has led to remittances declining by as much as 25% in some countries during the first half of 2020

EconomyOctober 20, 2020
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