IMF approves last instalment of $12b loan to Egypt

Cairo: The International Monetary Fund said it has approved the last instalment of a $12 billion (Dh44 billion) loan to Egypt, marking the end of a three-year programme that helped the Arab country overcome a crippling dollar shortage but drew criticism for painful austerity measures. The final payment of $2 billion will be transferred this […]

SoftBank to commit $40b to second Vision Fund

Tokyo: Tech conglomerate SoftBank Group Corp will invest $40 billion (Dh146 billion) in its forthcoming second Vision Fund, the Wall Street Journal reported on Wednesday. SoftBank’s board will meet on Thursday to approve the commitment, the WSJ reported, citing people familiar with the matter. While the first, $100 billion Vision Fund launched with $60 billion […]

WhatsApp Pay coming to India soon

New Delhi: Facebook-owned WhatsApp is set to launch its peer-to-peer, UPI-based Pay service for over 300 million users — especially the small and medium businesses (SMBs) — in India sometimes later this year, its global head Will Cathcart announced here on Thursday. WhatsApp launched a test run of its payments service with one million users […]