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Batelco as a Gateway into and from the Middle East (Press Release - 23/11/2014)

Batelco , the Kingdom's leading integrated communications services provider, is employing its vast experience and knowledge to expand its varied services to businesses of all sectors around the globe. Batelco , a Middle East regional partner of choice

Dubai Leads Mideast Gains After Stimulus, Oil; Abu Dhabi Rises (Bloomberg - 23/11/2014)

Dubai shares advanced the most in three days, led by Emaar Properties PJSC (EMAAR), as central banks from China to Europe take additional stimulus measures and oil gained. Abu Dhabi’s measure increased. The Dubai Financial Market General Index (DFMGI)

SABIC heads Saudi rally as oil price rise supports (Reuters - 23/11/2014)

Saudi Arabia's bourse rose in early trade on Sunday as most stocks gained after oil prices edged up and global equities rallied on Friday. The main Saudi index added 1.0 percent as shares in petrochemicals giant Saudi Basic Industries (SABIC) rose 1.4

EDB participates at Frankfurt Euro Finance Week (BNA - 23/11/2014)

Officials from the Economic Development Board (EDB) are in Frankfurt/Main this week to attend the annual Frankfurt Euro Finance Week 2014 in the period November 17-21. Dr. Jarmo Kotilaine, Chief Economist at EDB is one of the MENA experts giving a

Islamic finance Assets Pegged At $1.9 Tln As Of H1, 2014 (Arab Times - 23/11/2014)

For the past fifty years, Islamic finance as an industry has been steadily widening its geographical outreach, serving both sovereign and corporate clients. Throughout this period, Islamic finance has displayed its ability to innovate which allowed the

Pakistan picks 4 banks to arrange investor meetings for dollar sukuk (Reuters - 23/11/2014)

Pakistan has mandated four banks to arrange fixed income investor meetings starting Monday ahead of a potential issue of an U.S. dollar-denominated Islamic bond, a document from lead managers said on Sunday. The sovereign, rated Caa1 by Moody’s and B- by

NBK leads a consortium of banks to arrange USD 1 bil syndicated loan (Press Release - 23/11/2014)

In cooperation with J.P Morgan National Bank of Kuwait (NBK), in cooperation with J.P Morgan Limited, has led a consortium of international, regional and Kuwaiti banks to arrange a syndicated loan of USD 1 billion for Kuwait Foreign Petroleum Exploration

Saudi's Mobily suspends CEO after earnings debacle - statement (Reuters - 23/11/2014)

Saudi Arabia's Etihad Etisalat ( Mobily ) has suspended its chief executive Khalid al-Kaf, the kingdom's No.2 telecom operator by subscribers said on Sunday. The company's decision, effective from Nov. 21, follows errors in Mobily's accounting that led

Canada’s Dollar Surges on Rising Inflation Rate, Crude Prices (Forex Minute - 23/11/2014)

The Canadian dollar touched its strongest level in November after consumer prices grew faster than expected, fuelling speculation the central bank may raise interest rates soon. The currency, which is also known as the loonie, rose 0.6 percent to trade

Rak Properties awards Al Tameer contract for villas (Trade Arabia - 23/11/2014)

Rak Properties, one of the biggest property developers listed on the Abu Dhabi Stock Exchange, has announced that Al Tameer Group has been awarded a contract for the construction of its residential project Bermuda Villas in Ras Al Khaimah, UAE. Under the

No price hike: Emaar's Dubai Creek towers at Dh1,850 psf (Emirates 24|7 - 23/11/2014)

Emaar Properties and Dubai Holding, developers of Dubai Creek Harbor at The Lagoons, did not hike sale prices during the launch of their second and third tower of Dubai Creek Residences, real estate agents have told Emirates 24|7. “We were expecting a

CBO TO ISSUE RO200MN IN DEVELOPMENT BONDS (Muscat Daily - 23/11/2014)

The CBO is preparing to launch a RO200mn government development bond (GDBs) issue. H E Hamood al Zadjali, executive president of CBO, said on Thursday that the central bank will announce the bond issue for the local market ‘within a few days.’ Speaking

Thirst for Shariah-abiding beer shows promise of halal stocks (Bloomberg - 23/11/2014)

Eight years ago, Taleb Mohamad Almahmoud started importing a non-alcoholic beer popular in the Middle East to Malaysia. Now, he is bringing more than 300,000 bottles of Dubai-brewed Barbican into the country a month. “There are many Arabs here and they

$500 million Sukuk bonds: Dar in Dubai to hold roadshow (Business Recorder - 23/11/2014)

Finance Minister Ishaq Dar left for Dubai on Saturday to hold roadshow to float $500 million Sukuk bonds in the international market, sources said. Sources added the Finance Minister after holding a roadshow in Dubai on Monday would leave for London. Dar

Treasury puts faith in $500m Islamic debt (Times Live - 23/11/2014)

Those who work with the sharia-compliant products say this is just the beginning of Islamic finance offerings in South Africa. According to Saliegh Salaam, portfolio manager for Old Mutual Investment Group's Quantitative boutique, the order book was four

Islamic finance body to revise four standards (The Peninsula - 23/11/2014)

The Bahrain-based Accou-nting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will revise four of its standards in the first half of next year while expanding its guidance for Islamic bonds, the industry body said. Earlier this

Religion and risk drive Islamic finance boom (AFP - 23/11/2014)

When a Muslim cleric told Ahmad Salim that sharia law forbids paying interest, he returned his days-old loan to the bank and turned to the fast-growing industry of Islamic finance. It is a market that has doubled in size over the past four years and is

GFH announced as Platinum Sponsor of 21st Annual World Islamic Banking (Press Release - 23/11/2014)

GFH, the Bahrain based Financial Group, today announced its Platinum Sponsorship of The 21st Annual World Islamic Banking Conference (WIBC 2014) to be held in the Kingdom of Bahrain under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, The

US welcomes oil deal between Iraqi Kurdistan and Baghdad (Gulf Times - 23/11/2014)

US Vice President Joe Biden welcomed an agreement between Iraq’s central government and its northern Kurdistan region over the management of oil exports, a step forward in a feud that has threatened the unity of Iraq. In a speech in Istanbul yesterday

Gas feedstock shields GCC chems from crude slump (ICIS - 23/11/2014)

Petrochemical production in the Gulf Cooperation Council (GCC) mostly relies on gas feedstock, which insulates regional players from both adverse and beneficial effects of falling crude prices, the head of the Gulf Petrochemicals and Chemicals

OPEC split on direction after revenues slashed over crude prices drop (AFP - 23/11/2014)

The OPEC oil producers cartel will hold one of its toughest and most significant meetings in recent years as, faced with sliding prices, its members must contemplate whether to cut output. Ahead of Thursday’s meeting of the Organisation of Petroleum

Riyad Bank executive urges openness in communication (Saudi Gazette - 23/11/2014)

RIYAD Bank’s senior marketing executive told the Kingdom’s communications industry at the fifth Forum for Public Relations in Riyadh that the private sector needs to do more to keep pace with the changing face of communications. Speaking at the event,

Greece targets new Saudi trade deals in Riyadh talks (Arab News - 23/11/2014)

Notis Mitarachi, vice minister for development and competitiveness of Greece, will be visiting Riyadh on Monday and Tuesday (Nov. 24-25) for meetings with high government officials to discuss the potential of bilateral collaboration in the fields of

Kuwait to host 14th meeting on GCC e-government (KUNA - 23/11/2014)

Kuwait, represented by the Central Agency for Information Technology (CAIT), will host the 14th meeting of the GCC e-Government Executive Committee on November 24-25. "Kuwait will host that meeting as it chairs the rotating presidency of the Gulf

QIIC bags two awards (The Peninsula - 23/11/2014)

Qatar Islamic Insurance Company (QIIC) was awarded the “Family Takaful Company of the Year” and “General Takaful Company of the Year” at the 1st Middle East Insurance Industry Awards 2014 held recently in Dubai, said a press statement yesterday. The

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