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Muscat bourse resumes trading of Galfar shares (Times of Oman - 25/08/2016)

Muscat bourse on Wednesday resumed trading of Galfar Engineering and Contracting Company’s shares, after the company posted a detailed disclosure statement on the Muscat Securities Market on its compensation from Oman Wastewater Services Company (Haya

Personal loans of Oman banks register 10% growth (Times of Oman - 25/08/2016)

Oman’s conventional banks have posted a robust 10.44 per cent growth in aggregate personal loans, or consumer loan portfolios, which stood at OMR7,680.96 million by the end of June 2016. The growth in personal loan was attributed to the tendency of more

Seminar spotlights SAP Business One solutions (Oman Daily Observer - 25/08/2016)

Infoline LLC, the leading BPO & IT Enabled Service provider in Oman along with their technology partner WMS, recently organised a seminar on SAP Business One solutions at Crowne Plaza Muscat. They presented SAP Business One solutions designed exclusively

Euro-sterling parity is a reality, says HSBC (Gulf Times - 25/08/2016)

When UK businessman Paul Frampton bought the spending money for his family vacation to Tuscany this month, he was astonished to be charged almost a pound for each euro he purchased. “I was flabbergasted,” said the 41-year-old media-company boss, who paid

Doha Bank gets cardholder data security certification (The Peninsula - 25/08/2016)

Doha Bank was awarded the PCI-DSS Level 1 certification by the renowned PCI Certification body SISA. PCI is the only standard dedicated to security of cardholder data and rated as one of the most stringent security standard. This initiative confirms the

Emirates NBD unit cuts 100 jobs - sources (Trade Arabia - 25/08/2016)

Emirates Islamic, the sharia-compliant arm of Dubai's largest bank Emirates NBD (ENBD) , has laid off more than 100 people as part of cost cutting to adjust to a cooler economy, sources familiar with the matter said on Wednesday. Growth in much of the

Saudi Aramco could reduce stake in $5.5bn Indonesia refinery project (Trade Arabia - 25/08/2016)

Oil and gas giant Saudi Aramco may reduce its stake in a proposed $5.5 billion refinery project in Indonesia, the country's energy minister said. Aramco has asked to cut its share of the project to upgrade a refinery in Cilacap in the province of Central

Fed rate talk weighs on regional bourses (The National - 25/08/2016)

Dubai shares suffered their worst one-day performance in two months on Wednesday, as the prospect of rising US interest rates weighed on emerging markets. The US dollar rose against the euro, in anticipation of a speech by the US Federal Reserve

Saudi prince to discuss reform drive in visits to China, Japan (Gulfnews - 25/08/2016)

Saudi Arabia’s powerful Deputy Crown Prince Mohammad Bin Salman will discuss the kingdom’s drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and sources said on Wednesday. In April, Prince Mohammad

Sharjah FDI Forum to be held in September (Gulfnews - 25/08/2016)

The second annual Sharjah FDI Forum will take place from September 28 to 29 in Sharjah, under the slogan “Sharjah FDI: The Gateway to the Middle East, North Africa and South Asia”, according to a statement from the Sharjah Investment and Development

China moves to fend off financial risks (The Gulf Today - 25/08/2016)

China took aggressive steps on Wednesday to head off signs of growing risks in its financial and banking system, unveiling detailed rules to curb an unruly peer-to-peer (P2P) lending sector and intervening in its money markets. In the past year, Chinese

ADGM signs deal with SEBI to enhance cooperation (The Gulf Today - 25/08/2016)

The Financial Services Regulatory Authority (FSRA), of the Abu Dhabi Global Market (ADGM), on Wednesday signed a Memorandum of Understanding, MoU, with the Securities and Exchange Board of India (SEBI), to enhance regulatory cooperation and facilitate

Kuwait index ticks up after four-day decline–Commercial Bank dips 25fi (Arab Times - 25/08/2016)

Kuwait stocks nudged higher on Tuesday stemming the four-day retreat. The key index rose 5.66 pts in listless trading to 5,448.86 points helped by renewed buying in select counters. The board however remained broadly mixed. The KSX 15 gauge climbed 5.25

Mobily allows calls despite balance expiry (Saudi Gazette - 25/08/2016)

ETIHAD Etisalat (Mobily) allows customers to add balance for the prepaid packages after the expiry of the basic balance. This enables customers to add extra balance up to 6 times, which stay the customers connected permanently. Mobily clarified that each

Gulf drops, Saudi and Dubai hardest hit (Saudi Gazette - 25/08/2016)

Most major Gulf stock markets fell on Wednesday with few positive factors to spur buying and after Brent crude oil dropped back to just above $49.0 a barrel. Gulf bourses surged earlier this month as funds returned to emerging markets globally. But that

Industrial companies in Middle East facing risk of cyberattacks-Report (Saudi Gazette - 25/08/2016)

Industrial companies in the Middle East facing risk of cyberattacks, Booz Allen Hamilton said in its recent report titled “Industrial Cybersecurity Threat Briefing”. Booz Allen Hamilton, the global consulting and technology firm, highlighted the most

Qatar’s retail market remains stable (Saudi Gazette - 25/08/2016)

Qatar’s prime retail malls continue to enjoy relatively stable rentals and high occupancy rates, despite the ever increasing supply and the emergence of weaker consumer confidence, according to the H1 2016 Qatar MarketView by global real estate

Oil drops as market tracks US supplies (Arab News - 25/08/2016)

Oil prices fell Wednesday, with Brent stuck below $50, after data showed an increase in US crude stockpiles, adding to supply glut concerns. Data from the American Petroleum Institute (API) Tuesday showed US crude inventories rose by 4.5 million barrels

Qatari state fund buys stake in New York Empire State Building (Arab News - 25/08/2016)

Qatar’s sovereign wealth fund has made an iconic purchase in America — a stake in the company that owns New York’s Empire State Building. The $622-million purchase by the Qatar Investment Authority comes as the Doha fund increases its investments in the

Key Tadawul index closes 1.1% lower (Arab News - 25/08/2016)

Most major Gulf stock markets fell on Wednesday with few positive factors to spur buying and after Brent crude oil dropped back to just above $49.0 a barrel. Gulf bourses surged earlier this month as funds returned to emerging markets globally. But that

Iran ‘yet to decide on OPEC limits’ (Arab News - 25/08/2016)

Iran has yet to take any decision on whether to set a ceiling on oil production or take part in a planned OPEC meeting in Algeria, an oil ministry source told AFP. “It is too early to talk of a decision from Iran concerning a freeze in the level of

Jarir draws up action plan for transition (Arab News - 25/08/2016)

Jarir Marketing Co. has announced the action plan for implementation of International Financial Reporting Standards (IFRS). According to the plan, posted by the company on Tadawul website, Jaris Marketing Co. has set the transition plan to IFRS\ and the

Copper falls to eight-week low (Arab News - 25/08/2016)

Copper prices fell to eight-week lows on Wednesday as rising inventories in Asian warehouses fueled fears about weaker demand ahead in top consumer China. A stronger dollar, eroding the purchasing power of commodity buyers outside the US, and slide in

Oman’s hospitality market to reach $1b in 2020: Report (Times of Oman - 24/08/2016)

Oman’s hospitality market is expected to grow at a compounded annual growth rate (CAGR) of 6.2 per cent from 2015 to reach $1 billion in 2020. This growth is attributed to a 5.3 per cent annual rise in hotels and serviced apartment room inventory and a

Muscat bourse suspends trading in Galfar shares (Times of Oman - 24/08/2016)

Muscat Securities Market (MSM) on Tuesday suspended trading in Galfar Engineering and Contracting Company shares in view of lack of full details about the arbitration award disclosure. The company on Monday said that it received a compensation of OMR3.64

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