Category: Middle East/Asia

President Ramkalawan pledges the commitment of Seychelles to ensure Sustainable Tourism

Mr Mohammed

Dubai, 13th February 2024: The President of the Republic, Mr. Wavel Ramkalawan joined several other world leaders at the World Governments Summit (WGS) 2024 currently being held in Dubai where he delivered his main address focussing on Seychelles’ Initiatives and Approaches to Ensure Sustainable Tourism and Balancing Preservation. In his address to world leaders at the event, the Head of State underlined the pivotal role that Seychelles is playing in conservation, implementing various initiatives to promote sustainable tourism and safeguarding the nation’s ecological balance and economic well-being. He touched upon…

India to lead worldwide consumer growth with 31% of new consumers; digital economy to surpass US$1 trillion in Latin America (LatAm) and Africa

Mr Mohammed

CURITIBA, Brazil, January 25, 2024/ — Clients in major rising economies like Brazil, India, Kenya, and Nigeria are pulling the global digital market up by paying online purchases with instant payments, transfers, and other alternative payment methods – including for B2B transactions; Cards are still strong in digital, with high penetration of domestic brands and debit bringing new consumers to the online sales world, points out the new EBANX’s (www.EBANX.com) Beyond Borders study; Digital payments in Africa have jumped from a 23% to a 46% penetration rate in less than eight years and…

#BlackExcellence in Architecture: Driving Cultural Representation

Mr Mohammed

DUBAI, United Arab Emirates, January 25, 2024/ — Shaping our physical environment, creating a sense of identity and place, and supporting economic development are but a few of the functional purposes of architecture. Architects play a critical role in providing places for people to live and work, improving the quality of human life and supporting the aesthetics within a designed environment. This year’s Global Black Impact Summit (GBIS) { https://GlobalBlackImpact.com/}  – taking place in Dubai on February 27, 2024 – will explore the achievements of Black architects and designers, whose work…

The Catalytic Role of Big Data Analytics in Shaping Islamic Finance Underscored

Mr Mohammed

Story: Mohammed A. Abu A webinar held by the General Council for Islamic Banks & Financial Institutions(CIBAFI) concluded with a forward-looking perspective on the future of big data and its transformative potential in the Islamic financial industry, underscoring its role as a catalyst for growth and transformation, an official statement said in Manama, Bahrain, Tuesday. CIBAFI’s Secretary General, Dr. Abdelilah Belatik, in his inaugural address, it said, underscored the critical significance of big data in Islamic finance emphasizing that, it goes beyond mere technological advancement and it is a strategic imperative as…

Global Black Impact Summit (GBIS) 2024: Enabling Black-Owned Businesses to Go Global

Mr Mohammed

DUBAI, United Arab Emirates, January 19, 2024/ — Black-owned businesses have emerged as integral players in the global economy, able to foster economic empowerment and contribute to enhanced diversity and inclusion in the workplace. In the United States, the number of Black-owned businesses increased by nearly 14% pre-pandemic and accounted for a larger share of increases in revenues, employees and payrolls than other racial groups. Marked by rising Black entrepreneurship rates and growing demand for minority-owned businesses, there is a unique opportunity for Black-owned brands to play an even more…

Can South Africa Win Its Case Against Israel?

Mr Mohammed

South Africa’s application to the International Court of Justice (ICJ) seeking to have the court declare Israel’s military assault on Gaza a genocide will be heard starting on Thursday in The Hague. Israel has called the allegations “baseless” and accused South Africa of “cooperating with a terrorist organization.” States including Turkey and Jordan have backed the case. Malaysia publicly offered South Africa its support. Malaysia’s Foreign Ministry described the proceedings as a “timely and tangible step towards legal accountability for Israel’s atrocities.” Israel finds it is having to defend itself against arguments based on a convention that was drawn up in…

Leveraging Islamic Finance for the benefit of UK businesses in Saudi Arabia

Mr Mohammed

Story: Mohammed A. Abu The UK Export Finance(UKEF) has guaranteed the country’s largest ever Murabaha facility for USD700.00 in a maiden landmark Middle Eastern deal signed by Qadiyya Investment Company supported by the Public Investment Fund of the Kingdom of Saudi Arabia, to finance the construction of the Six Flags City Theme Park in the country. The project, the financing of which is based on procuring goods and services from UK exporters, is being undertaken by a joint venture led by Bouygues Bâtiment International and Almabani General Contractors in a…

Saudi Arabia and UAE officially join Brics: What will it mean for the bloc?

Mr Mohammed

Fareed Rahman Jan 01, 2024 The expansion of the Brics bloc to include Saudi Arabia and the UAE is expected to offer new investment opportunities for the Arab world’s two largest economies while boosting the group’s influence globally, analysts said. Saudi Arabia along with the UAE, Egypt, Iran and Ethiopia joined Brics on January 1, doubling its membership to 10, with Brazil, Russia, India, China and South Africa the original members. “Expansion of the Brics multilateral bloc to include Saudi Arabia and UAE augurs extremely well amid ongoing geopolitical and economic challenges confronting the…

Providing Islamic Fintech Solutions to the IF Industry for Sustainable Development

Mr Mohammed

Report: Mohammed A.Abu The Islamic Development Bank Institute(IsDBI) in partnership with EZBusiness,a private Business Consultancy firm has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace, an official statement distributed by the APO Group on behalf of the Institute said in Jeddah, Sunday. The Pavilion, according the statement, will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers. Phase…

South Africa: African Development Bank approves $1 billion guarantee from the United Kingdom to support SA’s Just Energy Transition

Mr Mohammed

ABIDJAN, Ivory Coast, December 10, 2023/ — The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $1 billion guarantee program in collaboration with the UK Foreign Commonwealth and Development Office (FCDO), which will allow the Bank to increase its lending capacity in support of South Africa’s Just Energy Transition (JET). Developed in close collaboration with the government of the Republic of South Africa, the program will support projects aligned with South Africa’s JET investment plan, such as transmission and grid-balancing storage, renewable energy generation, energy…