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Japan’s growth to slow sharply in 2016, IMF warns (Arab News - 04/05/2016)

China and Japan’s economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said. Government stimulus measures, lower commodity prices and low

Saudi bourse to ease rules for foreigners (Arab News - 04/05/2016)

Saudi Arabia’s stock market regulator said it would ease rules for foreign investment on the bourse, as part of efforts to open its capital market under an economic diversification plan. Overseas institutions with at least $3.75 billion riyals ($1

Tadawul index falls 1.2%; SABIC drops 2.4% (Arab News - 04/05/2016)

Gulf stock markets fell back on Tuesday because of lower oil prices and a lack of positive drivers, while Saudi Arabia’s bourse failed to get an immediate boost from reforms designed to stimulate trading and draw fresh foreign money. Brent crude futures

Bank credit to Saudi private sector remains resilient (Arab News - 04/05/2016)

Bank credit to the Saudi private sector remained resilient in March 2016, according to a new report from Jadwa Investment. In March, banks rapidly increased their claims on the public sector, as their holdings of government bonds rose. It appears that

Fight against money laundering top priority (Gulf Daily News - 03/05/2016)

The Central Bank of Bahrain (CBB) views the fight against money laundering (AML) and combating the financing of terrorism (CFT) as a key priority, executive director for financial institutions supervision Abdul Rahman Al Baker has said. Talking to the

VIVA signs major accord with CSG (Gulf Daily News - 03/05/2016)

VIVA Bahrain has announced a partnership agreement with enterprise mobility solutions provider CSG to create an enterprise communication platform. Primarily, this platform will provide enterprise voice and messaging services with the ability to share

Alba registers net profit of $11.2m (Gulf Daily News - 03/05/2016)

Aluminium Bahrain (Alba), owner of one of the world’s largest aluminium smelters, reported 88.6 per cent fall in first-quarter net profit as a result of a collapse in aluminium prices. Alba’s net income for the three months to March 31 was BD4.2 million

UAE – Jersey trade relations: from a tax haven to taxonomy (AME Info - 03/05/2016)

As with any offshore financial centre, secrecy has been synonymous with the Channel Islands of Jersey. But the reason for the strong relations between the self-governing British dependency and the United Arab Emirates – still not known to many – is not

UAE stocks lead Gulf equity slump as bank profits decline (Oman Daily Observer - 03/05/2016)

Equity markets in the United Arab Emirates extended declines on speculation recent gains were overdone after earnings fell at some of the country’s biggest banks. Abu Dhabi’s ADX General Index slipped for a second day, dropping 0.8 per cent to 4,506.14

‘Souq Al Mina’ receives encouraging response from Omani businesses (Times of Oman - 03/05/2016)

Oman Tourism Development Company (Omran) has received an encouraging response from aspirants to set up retail outlets at the Souq Al Mina - the modern business incubator in the upcoming Mina Sultan Qaboos Waterfront Development. Due to the high interest

Natural gas production in Oman grows 8 per cent (Times of Oman - 03/05/2016)

Oman’s natural gas production and imports grew by 8.3 per cent to 10,206 million cubic meters (MNCM) for the first quarter of 2016, compared to 9,426 MNCM for the same period of last year. Of this, while non-associated gas showed a growth of 8.1 per cent

Strong selling drags QSE 96 points, settle below 10,100 (Gulf Times - 03/05/2016)

Stronger selling, especially in the real estate and industrials stocks, dragged the Qatar Stock Exchange 96 points to settle below the 10,100 mark. The Gulf institutions’ increased net profit booking led the 20-stock Qatar Index shrink 0.94% to 10,092.07

Gulf markets fall; Emaar drops after earnings (Gulf Times - 03/05/2016)

Stock markets in the Gulf fell yesterday after oil prices pulled back and Dubai blue chip Emaar Properties dropped following the release of its first-quarter earnings. Saudi Arabia’s index slipped 0.6% as petrochemical shares in particular were weak,

Qatar, UAE chambers eye stronger ties in food security, tourism and IT (Gulf Times - 03/05/2016)

Business leaders from Qatar and the UAE have expressed keen interest to form a six-member committee from their respective chambers of commerce to enhance mutual investment opportunities in various sectors. For the Qatari side, the committee will be

Japan's Nikkei leads losses in limited Asian trade (Trade Arabia - 03/05/2016)

Tokyo stocks plunged more than three percent as a surging yen hit exporters Monday, leading a sell-off across Asia in holiday-thinned trade and after worries about the global economy fuelled sharp losses in New York and Europe. The losses in Tokyo come

Ezdan’s Cityscape pavilion attracts many visitors (The Peninsula - 03/05/2016)

Ezdan Holding Group’s pavilion at the just-concluded Cityscape Qatar 2016 attracted large number of visitors, including prominent figures and real estate developers as well as a great number of visitors. The visitors flocked to the exhibition to learn

Ratings pressure to grow on GCC corporates & sovereigns: Fisch (The Peninsula - 03/05/2016)

Fisch Asset Management, one of the world’s leading credit analysis and convertible bond specialists, has said that it expects ratings pressure to grow as leverage increases on GCC corporates and sovereigns. The Zurich-based Asset Manager believes that

Al Salam Bank launches credit card promotion (Trade Arabia - 03/05/2016)

Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has launched a special promotion on its range of Visa credit cards, offering customers the opportunity to win valuable cash prizes. The promotion runs from May 1 to June

Emirates NBD introduces new banking app (Trade Arabia - 03/05/2016)

Dubai-based bank Emirates NBD has launched a new tablet banking app for its workers that aims to reduce the waiting and transaction time of customers at its branches. The tablet banking app will enable branch service ambassadors, acting as ‘Timesavers,’

Riyadh to seek UK, France, China help in building homes (Trade Arabia - 03/05/2016)

Saudi Arabia's government has authorised the housing ministry to seek the assistance of Britain, France and China in building hundreds of thousands of homes to ease a shortage of affordable housing in the kingdom. The housing minister and his deputy were

UAE stock markets hit by falling oil prices (The National - 03/05/2016)

UAE equities continued their downward trend on Monday, as falling oil prices contributed to continuing negative sentiment over earnings. Brent crude futures, which closed last week above US$48 per barrel for the first time since November, fell over a

Agthia Group signs deal to open water bottling plant in Kuwait (The National - 03/05/2016)

The Abu Dhabi food and beverage company Agthia has signed a deal to open a water bottling plant in Kuwait, taking advantage of the country’s high per capita water consumption. The equal partnership joint venture with Kuwait’s Al Wafir Marketing Services

ADGM and UAE central bank in partnership against money laundering (The National - 03/05/2016)

Abu Dhabi Global Market (ADGM) has signed a memorandum of understanding with the UAE’s Central Bank intended to boost cooperation on the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) initiative, the financial centre said on

Khalifa Port sees 31% rise in traffic (Gulfnews - 03/05/2016)

Abu Dhabi Ports, the master developer and operator of ports in the emirate, reported a 31 per cent increase in roll-on-roll-off traffic at Khalifa Port in the first quarter of 2016 compared to the same period last year. General and bulk cargo across Abu

UAE indices fall as bank results continue to weigh (Gulfnews - 03/05/2016)

UAE indices fell on Monday weighed by weaker than expected banking results, and analysts expect the trend to continue. The Dubai Financial Market General Index closed 1.80 per cent lower at 3,385.31. The Abu Dhabi Securities Exchange General Index closed

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