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US index at peak, European stocks extend gains on Greece, Fed (Gulf News - 25/04/2015)

European stocks extended gains for a sixth day to its highest level in seven years, and US indexes recovered to hit another record after Greece proposed a list of reforms to euro group and Federal Reserve indicated to consider rate hikes on a meeting to

Afriland First Bank officially launches Islamic finance in Cameroon (CPI Financial - 25/04/2015)

At an event held at the Hilton Hotel in Yaounde, Cameroon, on 20 February, Afriland First Bank unveiled its suite of Islamic finance products. For more than 10 years, First Bank has been assisting Muslim pilgrims to MECCA with the facilitation of

KFH Diamond Sponsor for Turkish-Arab Economic Forum (Press Release - 28/03/2015)

Kuwait Finance House (KFH) participates in the Turkish Arab Economic Forum (TAF) as a diamond sponsor. The 10th edition of TAF, which will be held on the 1st and 2nd of April 2015, will be organized by Businesses and Economic Group with the official

UK is positioning itself to take advantage of Islamic finance growth (Islamic Finance - 28/03/2015)

In a speech delivered on 24 March to the Reform Export Summit, Hugo Swire MP, the UK Government minister responsible for Islamic finance development in the UK spoke of the long-term economic trend and development of Islamic finance and how the UK is

New Afghanistan banking law may jump-start Islamic finance (Reuters - 28/03/2015)

Afghanistan could have a new banking law approved by parliament in a few months including provisions for Islamic products, which may help to draw hundreds of thousands of people into the formal financial sector. In one of the poorest countries in the

Islamic debt market in Jordan to capitalise interest in sukuK (SPY Ghana - 28/03/2015)

The Islamic debt market in Jordan is set to capitalise on growing worldwide interest in sukuk (sharia-compliant bonds) after long-awaited regulations allowing banks to issue and buy the financial instrument have been put in place, paving the way for a

Vodafone partners with Bedaya on induction programme for students (Gulf Times - 28/03/2015)

Vodafone Qatar has partnered with Bedaya Centre for Entrepreneurship and Career Development, hosting 12 high school and undergraduate Qatari students in the company’s human resources, commercial and finance departments. Students were introduced to

Cayan, Shuaa Capital to set up real estate development fund (Trade Arabia - 28/03/2015)

Cayan Group, a Saudi Arabia-based property developer and real estate investment group, has signed a deal with investment firm Shuaa Capital to set up a real estate development fund, according to a report. The fund will be used for the construction of a

Dollar ends week lower after Yellen comments have muted impact (Reuters - 28/03/2015)

The U.S. dollar edged lower against a basket of major currencies on Friday after traders were reluctant to buy the greenback ahead of U.S. jobs data next week, and after comments from Federal Reserve Chair Janet Yellen. Yellen said the Fed is giving

Dollar Goes for a Nine-Month Rally with Fed Talk and NFPs on Tap (Daily FX - 28/03/2015)

The Dollar came dangerously close to a nasty speculative spill this past week. While the medium-term fundamental picture supports the currency’s progress over its counterparts, there is enough evidence that the market has ran beyond its quantifiable

ICD and AIB sign an agreement for joint venture ‘Enmaa’ in Egypt (Saudi Gazette - 28/03/2015)

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), and the Arab Investment Bank (AIB) have signed a shareholders agreement to establish “Enmaa Leasing Company”, a

Dairy production in KSA needs SR15 billion investment by 2020 (Arab News - 28/03/2015)

The dairy industry sector in the Kingdom is in need of additional investments estimated at SR15 billion to shore up production either by expansion of the existing projects or construction of new ones by 2020, according to a new study. The projected

Gold snaps 7-day rally (Reuters - 28/03/2015)

Gold fell on Friday, snapping a seven-day rally as the dollar steadied and investors remained cautious ahead of comments from Federal Reserve Chair Janet Yellen, but the metal still looked set to post its second straight weekly gain. Yellen's speech was

Crude prices may hit $70 by end of year (Reuters - 28/03/2015)

Iraq's Oil Minister Adel Abdel Mehdi predicted world oil prices could reach $70 a barrel by the end of 2015 and played down the impact of the emerging conflict in Yemen on prices. A global slump in oil prices has slashed government revenue in Iraq,

DCCI meet sheds light on Dubai Plan 2021 (The Gulf Today - 28/03/2015)

speaking to Dubai businessmen and representatives from the private sector during the Dubai Chamber of Commerce and Industry (DCCI) organised 1st Talk Business at Breakfast networking meeting of the year, held recently at the Chamber premises. He shed

Pak PM hails UAE firm for setting up oil refinery (The Gulf Today - 28/03/2015)

Pakistan’s Prime Minister Nawaz Sharif on Friday appreciated UAE based company for setting up oil refinery in the province of Khyber Pakhtunkhwa. Shaikh Muhammad Ahmed Ali Alkaitoob Alnuaimi, CEO Xclera Resources UAE called on Prime Minister Muhammad

Oil’s sudden plunge leaves analysts most divided in 8 years (Bloomberg - 28/03/2015)

Standard Chartered’s Paul Horsnell forecasts oil will rise to $90 a barrel in the fourth quarter. Bank of America Merrill Lynch’s Francisco Blanch predicts $58. Six months ago, they were just $1 apart. That sudden divergence highlights a growing trend:

US economic growth slows in Q4; corporate profits fall (Reuters - 28/03/2015)

US economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. Gross domestic product expanded at a 2.2% annual rate, the Commerce

Bears prevailed, with lower retail buying support (Gulf Times - 28/03/2015)

Bears continued to have their say in the Qatar Stock Exchange (QSE), which settled 113 points lower during the week. Selling pressure was seen intense in the transport, real estate, telecom and industrials counters during the week which saw Qatar Central

Gulf economies can cope with Yemen conflict (Times of Oman - 28/03/2015)

Economies and markets in the Gulf oil exporters barely blinked when rebels overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease. A war would probably dent the confidence of

London Stock Exchange stake sale earns Dubai huge profit (The National - 28/03/2015)

Dubai has made a profit of billions of dirhams on the sale of its eight-year-old stake in the London Stock Exchange. Essa Kazim, the chairman of Borse Dubai, confirming the disposal, said the shares had been sold at a price near an all-time record for

UAE minister calls for more efforts to promote economy (Gulf News - 28/03/2015)

Sultan Bin Saeed Al Mansouri, Minister of Economy, has met the founding members of the government economic communication network ahead of the network’s first meeting. In his remarks during the meeting at the ministry, Minister Al Mansouri underlined the

Gold hits 3-1/2 week high (Reuters - 27/03/2015)

Gold hit a 3-1/2 week high on Thursday and silver rose nearly 3 percent as escalating tensions in the Middle East knocked stocks and the dollar and drove investors into assets viewed as lower risk, such as bullion and German bonds. European stocks

$67m compensation for Almarai (Gulf Daily News - 27/03/2015)

Saudi Arabia's Almarai, the Gulf's largest dairy company, received 250 million riyals ($66.7m) from an insurer in compensation for a fire at one of its bakeries, it said yesterday. "This payment on account is not in respect of a specific claim item, but

$205m raised from sukuk by HSBC unit (Gulf Daily News - 27/03/2015)

The Malaysian Islamic banking arm of HSBC Holdings has raised 750 million ringgit ($205m) from the sale of five-year Islamic bonds (sukuk) at a yield of 4.24 per cent, IFR reported yesterday. The sale is the third tranche of the lender's overall three

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