Siddesh Mayenkar

Banking & Finance UAB is based in Sharjah. Its CEO said the transaction will enhance its liquidity position and funding flexibility to pursue growth The UAE’s United Arab Bank has raised AED 1 billion ($272 million) from a term loan facility, part of efforts to strengthen its balance sheet. Proceeds from the two-year senior unsecured dual tranche loan will be used for general corporate purposes, the bank said in a statement.

Economy Egypt's economic growth has been relatively resilient in thr face of trade uncertainty, geopolitical tensions and slower demand growth The monetary policy committee of Egypt’s Central Bank has cut interest rates for a fifth time in a row due to easing inflation. It has cut deposit and lending rates by 100 points each to 20 percent and 21 percent respectively, the central bank said in a statement on its website.

Finance The Manama-based outsourcing company plans to sell 16.35 million new shares, bringing the total capital to $2.65 million Silah Gulf, an outsourcing company owned by a unit of Bahrain’s sovereign wealth fund Mumtalakat, plans to sell a 30 percent stake in the company through an initial public offering. The Manama-based company plans to sell 16.35 million new shares, bringing the total capital to BHD5.2 million ($2.65 million), the company announced.