Sanctions on Nabah Ltd. Owned or Controlled by Corrupt Businessman Ashraf Al-Cardinal

Today, the United States imposed economic sanctions on Nabah Ltd., a company owned or controlled by Ashraf Seed Ahmed Al-Cardinal.  Al-Cardinal is a Sudanese businessman previously designated for his role in corruption connected to the South Sudanese government.   Al-Cardinal was designated for engaging in corruption, including participating in bribery, kickbacks, and procurement fraud involving senior South Sudanese government officials.  He and his companies act as intermediaries for depositing and…

South Sudan, Sudan Address Economic Crises

South Sudan's central bank said Friday that it planned to ban the use of foreign currency nationwide to prevent further depreciation of the South Sudanese pound against the U.S. dollar after prices of food and other basic commodities have skyrocketed in recent weeks and months. Juba resident Saida Juan said prices were higher each time she headed to the market. The mother of seven said a kilo of meat, which sold for 700 South Sudanese…

Sudan declares state of economic emergency to stabilize currency

(KHARTOUM) - The Sudanese government declared a state of "economic emergency" in the country in an attempt to control a vertiginous fall for the Sudanese pound and the unprecedented inflation in the country. In a press conference attended by the information and justice ministers as well and senior officials of security, police and Rapid Support Forces, the Finance Minister Heba Mohamed Ali declared "the state of economic emergency and establishment…

CBK Announces the Publication of the Annual Report for the FY 2019/20

His Excellency, the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced the publication of CBK’s 48th Annual Report for Fiscal Year (FY) 2019/20, including the audited financial statements (the Balance Sheet and Profit and Loss Account) of the CBK for the FY ended 31st March 2020. The report also comprises the key developments in the main monetary aggregates and banking indicators, the Kuwaiti Dinar (KD)…

Serbia, Kosovo Normalize Economic Ties, Gesture to Israel

President Donald Trump announced Friday that Serbia and Kosovo have normalized economic ties as part of U.S.-brokered talks that include Belgrade moving its Israeli embassy to Jerusalem, and Israel and Kosovo agreeing to mutual recognition. After two days of meetings with Trump administration officials, Serbian President Aleksandar Vucic and Kosovo's Prime Minister Avdullah Hoti agreed to cooperate on a range of economic fronts to attract investment and create jobs. The…