Tag: Kingdom of Saudi Arabia

The Islamic Corporation for the Development of the Private Sector (“ICD”) signed a collaboration Memorandum of Understanding (MoU) with FINTERRA PTE LTD (“Finterra”)

On DAY and DATE Mr. Ayman Sejiny, the CEO of The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-ps.org) the private sector arm of the Islamic Development Bank Group, and Mr. Satesh Khemlani, the Managing Director of Finterra PTE Ltd. (www.FINTERRA.org), signed a Memorandum of  Understanding to leverage on each other’s strengths to achieve sustainable business growth including crowdfunding sustainable development. The MoU came as a result

Equatorial Guinea Announces Compliance with OPEC Production Cuts Obligations

Equatorial Guinea has announced that it is fully complying with its production cuts obligations under the record OPEC++ global oil cuts deal reached in April 2020 and which took effect on the 1st of May. While announcing the country’s compliance, Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, also paid tribute to Saudi Arabia, the United Arab Emirates and Algeria for going above and beyond their obligations and playing a substantial role in rebalancing the market.

2Africa: A transformative subsea cable for future internet connectivity in Africa announced by global and African partners

China Mobile International, Facebook (www.Facebook.com), MTN GlobalConnect, Orange, stc, Telecom Egypt, Vodafone and WIOCC announced today that they will partner to build 2Africa, which will be the most comprehensive subsea cable to serve the African continent and Middle East region. The parties have appointed Alcatel Submarine Networks (“ASN”) to build the cable in a fully funded project which will greatly enhance connectivity across Africa and the Middle East. At 37,000km long,

Coronavirus: Lesotho now has the first confirmed case of COVID-19

Download logoThe Ministry of Health informs the Basotho nation and the entire Community living in Lesotho, that the country now has the first confirmed case of COVID-19. On the 09th May 2020, The Ministry conducted 81 (eighty one) tests for COVID-19 from travellers from South Africa and Saudi Arabia. On the 11th May 2020 the samples were shipped to NICD in the Republic of South Africa and results were obtained on the 12' May 2020. Eighty people tested NEGATIVE for COVID-19 while ONE teste

New Angolan budgetary restrictions underline government’s determination to support Organization of the Petroleum Exporting Countries (OPEC) and boost industry

Download logoAngola’s minister of finance H.E Vera Daves signed on April 22nd a ministerial order suspending the implementation of all contracts signed under the Public Investment Programme whose source of funding has not yet been definitively secured. This is one of a number of emergency measures, including a freeze in public sector hiring that was announced in recent weeks in response to the oil price crash and the expected reduction in government revenue for 2020. Minister Daves’s

Coronavirus – Somalia: Migrants headed to Arabian Gulf stranded in Somalia as COVID-19 spreads

Hundreds of migrants are stranded in Bossaso, Puntland, Somalia, as a result of border and sea-crossing closures brought on by the COVID-19 pandemic. Every year scores of migrants, mainly from landlocked Ethiopia, pass through Bossaso seeking to cross the Gulf of Aden to war-torn Yemen, and hoping to proceed onward to Gulf countries, particulary Saudi Arabia. The International Organization for Migration (IOM) reported that one day last month, approximately 600 migrants reached Bossaso in Punt

United Nations Resident Coordinator Office signs Letter of Understanding with Islamic Corporation for the Development of the Private Sector (ICD)

Download logoOn Thursday 23, April 2020 Mrs. Nathalie Fustier from The United Nations Resident Coordinator in the Kingdom of Saudi Arabia (KSA) and Mr. Ayman Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank Group, signed a Letter of Understanding (LoU) to conduct a study on the potential of Awqaf in contributing to the achievement of Saudi Arabia’s National Transformation Programme (NTP) and the U

Coronavirus – Somalia: COVID-19 Impact Update No. 4 (As of 4 May 2020)

Download logoSituation Overview The exponential rise in the number of confirmed COVID-19 cases in Somalia continues. From 26 April to 3 May, confirmed cases rose from 390 to 722, with 32 deaths and 44 recoveries. The new cases are largely due to community transmission. On 23 April, WHO warned that if the virus transmission is not slowed down rapidly, the patient surge and increasing demand for health care will overwhelm the country’s fragile health system. Somalia will need to make