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Total beats earnings forecast despite prolonged fall in oil prices (The National - 28/04/2016)

French energy company Total reported a better than expected net profit for the first quarter as high output and strong performance in refining and chemicals helped limit the impact of a prolonged fall in oil prices. Net adjusted profit fell 37 per cent

Twitter seen fighting losing battle for users, ad dollars (Arab News - 28/04/2016)

Twitter Inc’s race against the clock is intensifying. The company is trying hard to improve its much-criticized interface, but analysts said the challenge was to do that before more users and advertisers defect to Facebook Inc. and Alphabet Inc’s

Islamic finance innovators called to Kuala Lumpur for fintech challeng (Gulf Times - 27/04/2016)

The upcoming Global Islamic Finance Forum 2016 to be held in Malaysia’s capital Kuala Lumpur from May 10 to 12 – one of the most renowned global events in the sector – will see a special competition for financial technology, the Asean Fintech Challenge

US stocks fluctuate amid corporate earnings (The Gulf Today - 27/04/2016)

US stocks fluctuated amid mixed corporate earnings results, while crude oil rallied to lift commodity producers and investors awaited tomorrow’s Federal Reserve policy update. Equities have held in a tight range since backing down from multimonth highs

Pakistan minister gives details of 'Economic Corridor' (Arab News - 27/04/2016)

Saudi Arabia and Pakistan have reaffirmed strong bilateral relations as Pakistani Minister of Planning, Development and Reforms Ahsan Iqbal met his Saudi counterpart Adel Fakeih, minister of economy and planning, here Monday. Iqbal, who was in Riyadh to

Global investors expected to pull $538bn out of China (Arab News - 26/04/2016)

Global investors are expected to pull $538 billion out of China's slowing economy in 2016, the Institute of International Finance (IIF) estimated on Monday, although the pace of outflows has dropped. That number would be down a fifth from the $674

Germans flock to property as interest rates fall and rents rise (Arab News - 25/04/2016)

Unlike his parents who rented their whole life, Berlin resident Sebastian lives in his own apartment and is considering buying a second property in the German capital as an investment to top up his pension one day. For decades a nation largely of

Germany sees no need for Greece debt relief now (The Gulf Today - 24/04/2016)

German Finance Minister Wolfgang Schaeuble said Greece doesn’t need debt relief now and won’t require an easing of its debt burden as long as the troika of creditors determines that debt sustainability is ensured. The European Stability Mechanism, the

Regulatory scrutiny on automakers is rising globally (The Gulf Today - 24/04/2016)

Regulators around the world are getting tougher on automakers after a series of cheating scandals on fuel economy and emissions, with China set to become the strictest, according to Ford Motor Chief Executive Officer Mark Fields. “The regulatory

Turkish central bank cuts key interest rates (The Gulf Today - 21/04/2016)

Turkey’s central bank Wednesday cut a key interest rate at the debut meeting of its new governor in a move aimed at reassuring skittish investors but that disappointed the government. The central bank said the overnight marginal funding rate was trimmed

Global stocks fluctuate as oil prices slip (The Gulf Today - 21/04/2016)

US and European shares fluctuated near the highest levels in at least three months as investors focused on companies with results that beat estimates, offsetting declines among energy producers that slumped with the price of crude. The dollar

Iraq plans to sell $2 billion in bonds (Arab News - 20/04/2016)

Iraq may go ahead with plans to sell $2 billion in bonds in the next three months, hoping that international aid will lower the cost of borrowing that derailed earlier plans to issue the debt, the governor of the Iraqi central bank said in a interview

Michigan community bank plans U.S.-domiciled Islamic bonds (Reuters - 19/04/2016)

Michigan-based University Bank, a unit of University Bancorp (UNIB.PK), is planning a debut sale of Islamic bonds (sukuk), a rare sharia-compliant deal in the United States, according to the law firm advising on the transaction. The community bank will

First Sukuk issued under United States law by University Bank (Sukuk - 19/04/2016)

The U.S. dollar-denominated Shariah compliant perpetual sukuk issuance is believed to be the first sukuk to be included within the Additional Tier 1 capital resources of a bank in the United States. Linklaters LLP has advised University Bank on its sukuk

China’s Q1 GDP grows 1.1% in first quarter (The Gulf Today - 19/04/2016)

China’s economy expanded a seasonally-adjusted 1.1 per cent in the first quarter of 2016 from the fourth quarter of last year, National Bureau of Statistics data showed, the lowest quarterly expansion on record since 2010. The slower-than-expected

UK’s Osborne warns voters of Brexit’s permanent hit to economy (Arab News - 19/04/2016)

British finance minister George Osborne said a vote to leave the European Union would do permanent damage to the country’s economy and could cost each household 4,300 pounds ($6,100) a year by 2030. Seeking to focus voters on what he called the biggest

Egypt's economy to grow 3.5% in 2016/17 (Arab News - 19/04/2016)

Egypt's economy will grow by just 3.5 percent over the 2016/17 fiscal year, widely missing the government's target of 5.2 percent and dipping below last year's growth rate, a Reuters poll found. The economy grew by about 4.2 percent during the 2014/15

Islamic finance could help in meeting sustainable development goals (CPI Financial - 18/04/2016)

Islamic finance could contribute to meeting some of the sustainable development goals adopted by the UN General Assembly under its 2030 agenda, said Standard & Poor's Ratings Services in a report published today, "Islamic Finance Could Aid Modestly In

ECB set to defend its independence (Khaleej Times - 18/04/2016)

The European Central Bank, increasingly under fire in Germany over its ultra-loose monetary policies, will likely go out of its way to defend its independence at next week's governing council meeting, analysts said. ECB president Mario Draghi "will

World worried over China’s economic slowdown (The Gulf Today - 18/04/2016)

In a rare move, finance ministers and central bank governors of leading economies have voiced concern over the slowdown of China’s economoy, the world’s second largest, which could pose serious challenges to the growth of the global economy. China after

G-20 finance leaders pledge effort to boost global growth (Arab News - 18/04/2016)

Global finance officials are vowing to try to reinvigorate a lackluster global economy and urging governments to embrace free trade and do more to fight tax evasion. Concluding biannual meetings by the world finance leaders, the 189-nation International

G-20: Economic growth modest (Arab News - 17/04/2016)

The Group of 20 major economies said that economic growth remains “modest and uneven,” with downside risks ranging from a potential British exit from the European Union to geopolitical conflicts. In a communique issued after a meeting of G-20 finance

Global growth faces risks of slowdown: IMF (The Gulf Today - 14/04/2016)

Risks to global financial stability are rising as growth slows and commodity prices fall, posing the danger of an eventual stagnation in credit that saps world output, according to the International Monetary Fund. The gloomy mix of conditions “increases

Egypt set to get $1 billion loan tranche from World Bank (The Gulf Today - 14/04/2016)

The World Bank will provide the first $1 billion tranche of a $3 billion loan to Egypt after parliament approves the government’s economic programme, World Bank vice president Hafez Ghanem said at a news conference late on Tuesday. Parliament is

Job prospects not welfare draw migrants to UK: Study (Arab News - 14/04/2016)

Britain’s high wages and low unemployment, rather than welfare benefits, have been the main economic draw for hundreds of thousands of migrants who moved to the country from southern and eastern Europe, a study said on Wednesday. Prime Minister David

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