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AAOIFI and IASB achieve higher levels of cooperation (Press Release - 21/12/2014)

Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) held a meeting with the International Accounting Standards Board (IASB) on 16 December 2014 at the latter's office in London, United Kingdom to discuss potential areas of

Kuwait Finance House auctions real estate fund properties (CPI Financial - 21/12/2014)

Kuwait Finance House (KFH) has succeeded in selling the properties held by the Baitek Real Estate Fund, comprising 68 commercial and investment properties in a public auction. Chief Executive Officer of Kuwait Finance House (KFH), Mazin Saad Al-Nahedh


The Board of Directors of Saudi Industrial Investment Group has recommended the distribution of dividend to the shareholders for the financial year 2014 as following: 1.Total amount of distribution of dividend SAR 450 Millions 2.Divided per share SAR 1

More companies see stronger dollar boosting profits (Business Recorder - 21/12/2014)

More top global financial executives expect a stronger dollar to help their bottom line than see harmful effects from the currency's rise, a private survey released on Tuesday showed. Twenty-four percent of corporate treasurers and chief financial

Gold price recovers on fresh demand; silver remains weak (Zee News - 21/12/2014)

Gold prices recovered by Rs 85 to Rs 27,310 per ten grams at the bullion market in the national capital on emergence of buying by jewellers and retailers at prevailing levels even as the precious metal weakened overseas. However, silver remained under

Gold Drops on Week; 2014 Silver Eagle Record Tops 43.5M (Coin News - 21/12/2014)

Gold closed slightly higher Friday, adding to smaller gains from the previous two sessions. As such, losses earlier in the week were barely dented and the yellow metal logged a 2.2% weekly decline, snapping a two-week winning streak and sliding back into

NOGA delegation holds meetings in China (BNA - 21/12/2014)

A delegation representing the oil, gas and petrochemicals sectors in the kingdom visited China last week, and held meetings with senior officials in China National Energy Administration (NEA), and those of key Chinese oil, gas and petrochemicals

India's forex grows by $2.17b (The Hens India - 21/12/2014)

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, gained $2.40 billion at $292.36 billion in the week under review. The foreign currency assets had plunged $867.4 million at

Japanese Yen May Resume Recovery on Year-End Capital Flows (Daily FX - 21/12/2014)

The outcome of Japan’s snap election passed without making much noise in the financial markets last week as expected. The LDP sailed to an easy victory and secured the super-majority it needed to ensure the continuity of “Abenomics”, at least through the

Vodafone offers JBL speaker free with Lumia 830 (Gulf Times - 21/12/2014)

Vodafone Qatar has announced an “exclusive” offer for the latest Lumia 830 smartphone, recently introduced by Microsoft Devices in Qatar. Customers of the Lumia 830, offered at QR1,499, will get to take home a JBL PowerUp wireless charging speaker worth

Solid Bahrain-South Korea economic relations discussed (BNA - 21/12/2014)

Chairman of the Bahrain Chamber of Commerce and Industry Khalid bin Abdulrahman Al-Moayyad has expressed pride in the growing Bahraini-South Korean relations in all fields, especially the economic one. Speaking during a meeting with the South Korean

Fitch maintains Kuwait's "AA" rating, it is resilient to declining oil (KUNA - 21/12/2014)

Fitch Ratings has affirmed Kuwait's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AA,' according to a fresh report released by the internationally renowned agency. The outlooks are stable; Kuwait's ceiling has been affirmed at

Traders panic pushes KSE indices further down (KUNA - 21/12/2014)

Kuwait Stock Exchange (KSE) plunged further this week as negative traders' sentiments continued to push the market indices more into the red zone, a specialized economic report showed Saturday. The report, by Bayan Investment Company, stated that the

Saudi Motor Show attracts 100,000 visitors (Saudi Gazette - 21/12/2014)

The doors of Jeddah Center for Forums & Events were closed on Friday as the Saudi International Motor Show 2014(SIMS) concluded its activities on its 36th edition. The show organized by Al Harithy Company for Exhibitions (ACE), and inaugurated By Eng.

Profits of retail firms up 11% to SR803m in Q3 (Arab News - 21/12/2014)

Net profits of the listed retail firms grew by 11.2 percent to SR 803 million in the third quarter of the current year compared to SR722.5 million in the same period last year, according to a financial report. However, sales of the retail sector

Dedicated zones in Muscat port redevelopment plan (Oman Daily Observer - 21/12/2014)

A spectacular waterfront development overlooking a dedicated area for cruise liners as well as a marina for super-yachts is among the highlights of a lavishly master-planned cruise and tourism port envisioned for Muscat’s Port Sultan Qaboos. Brief

Bank Muscat extends baituna home finance for Badr Al Hamra project (Oman Daily Observer - 21/12/2014)

Bank Muscat, the flagship financial services provider in the Sultanate, and Badr Development company signed a memorandum of understanding (MoU) to provide attractive baituna home finance for Badr Al Hamra project in Al Qurum. Said al Badai, DGM —

EDB backs vocational training programme (Gulf Daily News - 21/12/2014)

Bahrain's Economic Development Board (EDB) has thrown its weight behind an apprenticeship programme to boost vocational training in Bahrain. The National Institute for Industrial Training (NIIT), the only industrial institute of its kind in Bahrain,

Al Wathba Services begins next stage of 15-year history (The Gulf Today - 21/12/2014)

Al Wathba Services, the vehicle management business headquartered in Abu Dhabi, on Saturday announces that it has changed its name to Massar with immediate effect. The change of name is being accompanied with a fresh new brand. Massar is a long

81% units in Omniyat’s ANWA project sold (Te Gulf Today - 21/12/2014)

Omniyat Group’s newly launched iconic project ‘ANWA’ in Dubai Maritime City sold 81 per cent of its units in less than a week of opening the sales. The development group said they registered Dhs432 million in sales for this ambitious seafront project.

DEC signs MoU with Boston Consulting Group (The Gulf Today - 21/12/2014)

The Dubai Economic Council (DEC) signed a memorandum of understanding (MoU) with the Boston Consulting Group (BCG), the world’s leading advisor on business strategy. The MoU serves to provide support for strategic co-operation between the two parties in

Dubai Silicon Oasis Authority receives ISO certifications (The Gulf Today - 21/12/2014)

Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis, the integrated free zone technology park, has received the ISO 50001:2011 and 14001. The former certification is for meeting the requirements in establishing,

DIEDC, Reuters to develop global Islamic economy portal (The Gulf Today - 21/12/2014)

Dubai Islamic Economy Development Centre (DIEDC) has signed an agreement with Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals, to develop a global Islamic economy portal. The portal will serve as

UAE, Belgium to strengthen trade ties (The Gulf Today - 21/12/2014)

Dominique Mineur, the newly appointed Ambassador of the Kingdom of Belgium to the UAE and Pierre Annoye, Economic and Commercial Attaché for the Walloon and Brussels — Capital Region, visited Jafza to discuss ways to further strengthen bilateral trade

Sharjah a top business destination (The Gulf Today - 21/12/2014)

The Sharjah Investment and Development Authority (Shurooq) has successfully concluded its participation in the Trade Mission to India. Shurooq’s participation comes in line with its ambitious strategy to highlight Sharjah’s diverse business potential and

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