Egypt to borrow $12 bn from IMF
International Monetary Fund (IMF)
Washington - MENA
Hoping to restore the confidence of foreign investors, Egypt announced an initial agreement Thursday to borrow $12 billion over three years from the International Monetary Fund (IMF), joining Iraq, Tunisia and Jordan in taking money from the Washington-based fund.
Bloomberg said on Sunday that the influx of capital offers an opportunity to restore economic stability in the region.
The fund faces many of the challenges it encountered when it lent to Egypt and other countries decades ago, such as poor governance and public resistance to belt-tightening.
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London - DPA
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Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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