BRITAIN: Cybercrime is big business and HSBC are taking measures on safe-deposit boxes in Hong Kong to guard the wealth of the rich and famous – @AceNewsServices

#AceFinanceNews – May.30: HSBC Tightens Hong Kong Safe-Deposit Box Rules to Boost Defences

HSBC Holdings Plc is strengthening its oversight of its safe-deposit boxes in Hong Kong as the U.K. bank moves to bolster its defenses against financial crimes.

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EGYPT: Ministry of Electricity completed the final contract with the consortium of GDF Suez, Toyota, and Orascom to establish a wind power plant project in the Gulf of Suez next month – @AceFinanceNews

#AceFinanceNews – May.30: Egypt partners with GDF Suez, Toyota and Orascom for wind power plant

Egypt’s Ministry of Electricity completed the final contract with the consortium of GDF Suez, Toyota, and Orascom to establish a wind power plant project with a capacity of 250 MW in the Gulf of Suez next month.

The ministry seeks to produce 20 percent of new and renewable energy of the total national electricity grid by 2020. (File photo)

11.png © 2016 Daily News Egypt.

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ISRAEL: Considering a possible agreement to carry their gas to the European market through Turkey – @AceFinanceNews

#AceFinanceNews – May.30: Israel mulls European gas exports via Turkey

The only route big enough for Israel’s gas exportation is a country like Turkey which is capable of providing infrastructure and further exportation to the West, said the Consul-General of Israel in Istanbul on Wednesday.

In an exclusive interview with Anadolu Agency, envoy Shai Cohen spoke about a possible gas agreement to carry Israeli gas to the European market through Turkey.

Construction of pipeline infrastructure, the development of the gas fields and the pipeline to the Southern Turkish would cost about $4 billion alone. (File photo)

400.png © Copyright Andolu Ajansi

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EGYPT: Minister of trade and industry said on Saturday they plan to establish an industrial zone in South Sinai province – @AceFinanceNews

#AceFinanceNews – May.30: Egypt to establish $92M industrial zone in South Sinai

Egypt’s Minister of Trade and Industry said on Saturday that he approved a plan to establish an EGP 820 million (around $92 million) industrial zone in the province of South Sinai.

Tarek Kabil said during a conference on development and investments in South Sinai, held in the province, that that the area’s mineral resources will be utilised in the project.

Investment in roads, infrastructure, water, sewage and desalination plants are being made thanks to Arab development fund grants. (Shutterstock)

1026.png All rights reserved 2016 Aswat Masriya ©

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JUST IN: UNITED NATIONS: Warns of higher and more volatile global food prices could knock $161 billion off China’s economy and $49 billion off India’s – @AceFinanceNews

#AceFinanceNews – May.29: Rising food prices could knock $160B off China GDP, says UN

Higher and more volatile global food prices could knock $161 billion off China’s economy and $49 billion off India’s, the United Nations has warned.

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IRAQ: Receives $3 billion in easy loans and grants from IDB after a similar measure was announced by the IMF this month to help cope with a sharp decline in #oil revenue, a central bank spokesman in Baghdad said Thursday in an email – @AceFinanceNews

#AceFinanceNews – May.29: Islamic Development Bank green lights $3B loan to Iraq

The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to cash-strapped Iraq after a similar measure was announced by the International Monetary Fund this month.

The Islamic bank’s loan is aimed at helping Iraq cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email.

The spokesman did not give further details.

Last year, Iraq secured $1.7 billion in loans from the World Bank and $833 million from the IMF. (YouTube)

425.png Copyright © Saudi Research and Publishing Co. All rights reserved.

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RUSSIA: Two of the largest banks, one of which is Sberbank, will soon incorporate Islamic banking rules into their line of work – @AceFinanceNews

#AceFinanceNews – May.29: Major Russian banks to pilot Islamic banking principles

In a noteworthy transformation, two of the largest Russian banks, one of which is Sberbank, will soon incorporate Islamic banking rules into their line of work, in a quick response to the invitation sent out by President of Tatarstan, a federal subject of Russia, Rustam Minnikhanov. Minnikhanov’s invitation revolved on how Islam-based banking had been normalized in his republic.

Russia's Sberbank has displayed interest in incorporating a specialized sector for Islam-based banking transactions. (Kiev Post)

425.png Copyright © Saudi Research and Publishing Co. All rights reserved.

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CHINA: Leaked minutes from the central bank show they have stepped back from its commitment to liberalize the yuan, the Wall Street Journal has reported – @AceFinanceNews

#AceFinanceNews – May.29: People’s Bank of China loses resolve to liberalise yuan

Leaked minutes from the central bank show China has stepped back from its commitment to liberalize the yuan, the Wall Street Journal has reported.

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QATAR: Launches Middle East’s biggest-ever bond sale after selling $9 billion of Eurobonds in three maturities after it faces a 46.5 billion riyal ($12.8 billion) budget deficit this year because of the continued lower #oil and #gas prices – @AceFinanceNews

#AceFinanceNews – May.29: Qatar’s $9B eurobond sale is largest ever in Middle East

Qatar has launched the Middle East’s biggest-ever bond sale after selling $9 billion of Eurobonds in three maturities.

The world’s top liquefied natural gas exporter is one of the richest countries per capita but it faces a 46.5 billion riyal ($12.8 billion) budget deficit this year because of the continued lower #oil and #gas prices.

Analysts had earlier predicted that Qatar's bond would only be valued at $5 billion. (File photo)

167.png © 2016 ITP DIGITAL

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EGYPT: #EgyptAirFlightMS804 is another blow for their tourism industry, and it comes at a time of heightened security concerns for the travel industry – @AceFinanceNews

#AceFinanceNews – May.29: Shares in UK travel firm Thomas Cook drop as tourists avoid Egypt, Turkey and Tunisia

The loss of EgyptAir flight MS804 is another blow for Egypt’s tourism industry, a cornerstone of the country’s economy, and it comes at a time of heightened security concerns for the travel industry.

Thomas Cook said more holidaymakers are spurning Egypt, Turkey and Tunisia, heading instead for the western Mediterranean, particularly Spain. (File photo)

2168.png Copyright © euronews 2016

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