Business & Management

Trade Bank of Iraq doubles credit limits to finance booming trade

Trade Bank of Iraq doubles credit limits to finance booming trade

Trade Bank of Iraq (TBI) has doubled the maximum value of Letters of Credit it allocates to the private banking sector in Iraq. Last year alone, 945 Letters of Credit were allocated to private banks, at a value of approximately US$500mn. The total number allocated to private banks by TBI is 2,446, at a value of about US$3 billion.

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Syrian PM calls for investment

Syria's Prime Minister Muhammad Naji Otri has called upon Arab investors to invest in Syria and help create an Arab economic bloc capable of competing with other economic blocs and confronting the challenges posed by globalisation.

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Daimler to sever links with Iran

Dieter Zetsche

DAIMLER IS TO divest its 30 per cent stake in an engine company in Iran as part of a wider review of links to the country. The German carmaker's chief executive, Dieter Zetsche, said Tehran's political policies were behind the move.

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Islamic finance needs tighter regulation

Islamic finance has emerged relatively unscathed from the global economic crisis but there is a need for tighter regulations and higher standards.

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2011 to see recruitment opportunities surge

Good opportunities await those looking for employment avenues in local and multinational companies across the region beginning from next year, according to experts at recruitment firms in the UAE.

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