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China Leads Emerging-Stock Rebound From 2013 Low as Ruble Gains (Bloomberg - 04/08/2015)

Emerging-market stocks climbed from a two-year low as Chinese equities surged after authorities stepped up measures to stabilize the market. Russia’s ruble led currencies higher, while the Micex Index rose as Brent rebounded. The Shanghai Composite Index

Emaar Misr says H1 net profit up 283 pct to $66.7 mln (Reuters - 04/08/2015)

Egyptian property developer Emaar Misr said on Tuesday its first-half net profit jumped 283 percent to 522 million Egyptian pounds ($66.67 million). Revenue rose to 1.56 billion pounds, the firm said in a statement. Emaar Misr, a unit of Dubai's Emaar

Unruffled in Riyadh, Saudis Stick With Stocks as Crude Tumbles (Bloomberg - 04/08/2015)

The Saudi stock market is showing its mettle in the face of the latest oil rout that drove Brent into a bear market in July. The kingdom’s Tadawul All Share Index has retreated 4.2 percent since the end of June, compared with declines of 15 percent in

AAOIFI's Shari'ah Standards Holds its meeting no. 7 in Pakistan (Press Release - 04/08/2015)

Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) held a meeting of it's Sharia standards Review and Translation Committee during 21-23 July 2015 in Islamabad, Pakistan. AAOIFI is an international standard setting

Gold Halts Recent Decline, Remains Bearish ( - 04/08/2015)

Gold has halted the recent decline and has been consolidating in a range between 1080 and 1105 for the past week or so, with the price direction quite volatile and trading opportunities limited. Gold is clearly attempting to form a base here for a rally

Etisalat launches ‘Business Wifi’ for small and medium firms (Trade Arabia - 04/08/2015)

Etisalat has launched its fully managed wireless connectivity solution – Business WiFi, to enable business customers, their employees and guests to have wireless access with high speed broadband. Mobile applications, growing bring-your-own-device (BYOD)

Kuwait real estate sales edge up in June (Trade Arabia - 04/08/2015)

Sales across Kuwait’s three main real estate sectors totalled KD270 million ($890 million), up 5.4 per cent from May, while the number of transactions was up 2.9 per cent, a report said. June’s performance improved despite the seasonality effect of the

Investcorp names corporate investment head for North America (Trade Arabia - 04/08/2015)

Investcorp, a leading provider and manager of alternative investment products, has appointed David Tayeh as the head of its corporate investment business in North America. Tayeh joins from CVC Capital Partners, where he was a partner and led private

Aldar Q2 profit surges 18pc to $163m (Trade Arabia - 04/08/2015)

Abu Dhabi-based Aldar Properties, one of the largest developers in Mena, has posted a net profit of Dh601 million ($163.5 million) for the second quarter (Q2) of the year, up 18 per cent from Dh509 million of Q2 2014. This was a result of the growth in

Saudi, UAE non-oil rebound from record lows (Reuters - 04/08/2015)

Business activity growth in Saudi Arabia's non-oil private sector rose in July after hitting a record low in June, while the same in the UAE rebounded during the month from a 22-month low, a survey of businesses showed on Tuesday. The seasonally adjusted

Saudi masterbatch market to to $167m (Trade Arabia - 04/08/2015)

The masterbatch market in Saudi Arabia is projected to reach $167 million by 2020, on the back of growing demand from the packaging and construction sectors. The prediction was made by TechSci Research, in its recently released report "Saudi Arabia

Dubai launches massive Meydan development (Trade Arabia - 04/08/2015)

Dubai’s Meydan City Corporation has launched a new 3.67 million-sq-m leisure, residential and hospitality destination featuring world’s tallest residential tower within the heart of the Emirate, a report said. Sheikh Mohammed bin Rashid Al Maktoum, Vice

Gold dips as metal searches for an August spark (Market Watch - 04/08/2015)

After a brutal July, gold futures started the week and the month of August on a dour note, with the precious metal is being weighed down by a stronger dollar ahead of a key employment report on Friday, which could set the tempo for the Federal Reserve’s

Gold price consolidates, but remain vulnerable (Bullion Desk - 04/08/2015)

Precious metals were weak across the board yesterday – closing down an average of 1.9 percent with the gold price at $1,084.90. Base metals closed down one percent on average yesterday – hit by poor Chinese PMI data – at the day’s lows prices were down

Kingsgate tips gold price falls (AAP - 04/08/2015)

Gold miner Kingsgate Consolidated says the gold price could sink as low as $US1000 per ounce before rebounding on Chinese and Indian demand. Kingsgate's new chief executive Greg Foulis said expectations of a US interest rate rise this year and a higher

Islamic Finance Reaches New Level of Shari'ah Governance in U.S. (Press Release - 04/08/2015)

Azzad Asset Management today announced the successful completion of an independent, external Shari'ah audit and verification of its policies and procedures. Azzad is the first investment boutique in the United States to obtain such verification.

Oil hits multi-month low on record OPEC output (Reuters - 04/08/2015)

Oil extended losses on Monday on worries of oversupply as the Organisation of the Petroleum Exporting Countries (OPEC) pumped at record levels in July, while weak China data stoked concerns about slower growth at the world’s second largest oil consumer.

Dollar Flat Againt Yen, Euro Before Jobs Data ( Dow Jones Business News - 04/08/2015)

The dollar was almost flat against the yen and the euro in Asian trade Tuesday amid a continued lack of fresh trading cues that could push the greenback higher, while the Australian dollar jumped on The Reserve Bank of Australia's changing stance on the

Dollar gains as upcoming jobs data stokes rate hike expectations (Business Recorder - 04/08/2015)

The dollar gained on Monday as investors looked ahead to jobs data on Friday that is expected to show a still strengthening labor market. Strong job gains may boost expectations that the Federal Reserve is closer to raising interest rates, which many see

Euro slips after sell-off (AFP - 04/08/2015)

The euro was under pressure on Tuesday following a sell-off in New York as a plunge on the Greek stock market revived worries about Athens' future in the eurozone. The single currency slipped to $1.0936 and 135.64 yen on Tuesday morning from $1.0954 and

Japan to allow caviar exports (Asian Nikkei - 04/08/2015)

TOKYO -- The Japanese government is launching a registration system for caviar exports as early as this month, aiming to help domestic fish farmers tap demand among affluent consumers in greater Asia. The government will ensure that only products

LMC registers net profit of $2.25m (Gulf Daily News - 04/08/2015)

Manama: Liquidity Management Centre (LMC), a Bahrain-based wholesale Islamic bank, yesterday reported a net profit of $2.25 million for the first half of this year as against $2.1m for the same period last year. A statement by the bank said the net

Treasury bills a big success (Gulf Daily News - 04/08/2015)

Manama: The latest weekly issue of government treasury bills floated to raise BD70 million has been oversubscribed, the Central Bank of Bahrain (CBB) announced yesterday. Subscription interest of 102 per cent was received for the bills, the CBB said in a

GIB Capital wins three key awards (Gulf Daily News - 04/08/2015)

Manama: GIB Capital, the Saudi-based investment banking arm of Bahrain-based Gulf International Bank (GIB), has won three awards given by EMEA Finance magazine for key transactions last year. GIB Capital won the Best IPO Deal in the Middle East award for

USA is UAE’s third biggest trading partner (AME Info - 04/08/2015)

The United States is the third largest trade partner of the UAE, with the volume of non-oil trade exchanges exceeding $24 billion through 2014, says a senior official. Juma Mohammed Al Kit, assistant undersecretary for foreign trade at the Ministry of

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