Small and medium-sized Islamic banks may need to merge if they want to become bigger regional players capable of filling the funding hole left by shrinking Western banks, the head of Islamic finance at Deutsche Bank, told Reuters. 'There are mismatch

Bahrain is set for a major windfall from this year's F1, say tourism chiefs. The return of the prestigious race has been 'the best news ever' for the tourism sector, said Bahrain Chamber of Commerce and Industry tourism committee head Nabeel Kanoo.

Oman Oil Company announced that it acquired a 15 per cent stake in the Portuguese high-voltage transmission grid operator and natural gas transportation company — Redes Energeticas Nacionais, SGPS, (Ren). The total investment is RO104 million (euro 205

With its health care, hospitality and airline pulling their weight in a combined effort, Ras Al Khaimah is all set to raise its profile as a medical tourism destination. RAK Hospital, the northern emirate's largest privately owned health care facility,

Global financial services firm Russell Investments sees significant opportunities for growth in the Sultanate — a view that attests to the sound fiscal health of sovereign wealth funds, pension funds, and other institutional investors that typically form

Qatar’s tourism sector is likely to see a near-70 percent growth in hotels, the largest in the Middle East and Africa, latest STR Global data has showed. The Middle East/Africa hotel development pipeline for January comprised a total of 495 hotels

Certificates of deposit tender was held at the Central Bank of Oman (CBO) last week. The total amount allotted for issue No (756) was RO 319 million. A bulletin issued by the CBO stated that the average interest rate of these certificates was (0.08 per

Abu Dhabi's flaghship carrier Etihad Airways, which made its first profit in 2011, yesterday said it held roadshows overseas as it seeks funds to finance its aircraft. Unlisted Etihad held roadshows in London and New York with some of the world's largest

Converting a business into a Sharia-compliant one can increase the value of a company by 18 per cent to 25pc because of the scarcity of genuine Islamic investments. But the conversion process is arduous, extending from the design to distribution and

Etihad Airways will fly non-stop daily flights to Washington, D.C., the airline’s fourth destination in North America, from March 31, 2013. The Washington region is home to America’s second largest market flying to the Middle East, after New York. Etihad

Findings from a recent global construction industry survey indicate that the need for infrastructure is at an all-time high, a development so pivotal that it is pressuring the engineering and construction industry to step up as never before to meet the

Saudi Arabia's concern is to keep the global oil market well supplied, its deputy oil minister said yesterday, as top Asian crude buyers look to the world's biggest producer to make up for cuts in supplies from sanctions-hit Iran. Saudi Arabia is the

Bahrain is seen as a hub for the Northern Gulf for the development of business between Taiwan and the kingdom. That was the message from the trade mission of Taiwan representative Paul Hsu at the 2012 Taiwan food exhibition at the Bahrain Chamber of