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Popularity of Islamic banking products slumps in the UAE
(Arabian Business - 23/09/2017)

The number of UAE consumers applying for Islamic banking products has declined since last year, according to a new study from yallacompare, the Middle East comparison website. Yallacompare data revealed during the first half of 2017 10.5 percent fewer

DEWA & Dubai Airports sign MoU to promote Smart Dubai
(Media Office Dubai - 23/09/2017)

Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding (MoU) with Dubai Airports, as part of the efforts to expand cooperation and joint efforts to promote Smart Dubai, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice

DIFC’s Global Financial Forum will explore opportunities
(Media Office Dubai - 23/09/2017)

Dubai International Financial Centre (DIFC), the leading international financial hub for the Middle East, Africa and South Asia (MEASA) region, has today announced the preliminary speaker list for its inaugural Global Financial Forum (GFF). To be held on

UAE hails partnership with IAEA
(WAM - 23/09/2017)

Hamad Ali Al Ka’abi, Permanent Representative of the UAE to the International Atomic Energy Agency, IAEA, has expressed the UAE’s appreciation for the Agency’s efforts in assisting member states to benefit from the peaceful use of nuclear energy and the

Saudi to introduce bankruptcy law early next year
(Trade Arabia - 23/09/2017)

Saudi Arabia is set to introduce a bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, said a report, citing Saudi-owned broadcaster Al Arabiya reported citing the kingdom's Trade and

Saudi Arabia plans 80pc hike in gasoline prices
(Trade Arabia - 23/09/2017)

Saudi Arabia is considering raising domestic prices for gasoline and jet fuel by around 80 per cent from November, said a report. Octane-91 grade gas price will increase from 75 halalas per liter to SR1.35 per liter, reported The Saudi Gazette, citing

Saudi Domestic Sukuk: Indication of Financial Solidity
(Asharq Al Awsat - 21/09/2017)

The Saudi Finance Ministry announced on Monday that the third domestic sukuk issuance reached 350 percent in a record rate, while the first issuance was at 297 percent and the second at 300 percent. These figures indicate the solidity of the Saudi

Islamic banking products ‘losing appeal in UAE’
(Trade Arabia - 21/09/2017)

The number of UAE consumers applying for Islamic banking products has declined since last year, according to a new study from yallacompare, a leading comparison site in the Middle East. By analysing statistics from its financial comparison platform,

Size of GCC asset management market to double by 2020
(The National - 21/09/2017)

Assets under management are forecast to more than double in 2020 from 2016 levels in the Arabian Gulf region as Sharia-compliant investments continue to rise and an expanding middle class presents more growth opportunities. The total assets managed by

Concept developed for new water and wastewater sector structure
(Oman Daily Observer - 21/09/2017)

A multinational team of advisers has helped develop a concept for a new operational structure through which water and wastewater infrastructure and services will be delivered throughout Oman, according to a top official of Nama Holding (formerly The

Siege countries failed to harm Qatari economy
(The Peninsula - 21/09/2017)

Qatari investors and members of the business community, including the Qatar Chamber (QC), the country’s oldest and largest private industry representative body, said that the blockading countries have failed in their plans to harm the Qatari economy.

Qatar-Kuwait trade set to grow
(The Peninsula - 21/09/2017)

Qatar-Kuwait bilateral trade is expected to witness a sharp jump in the coming years as businesses and investors from both the countries are working in close cooperation to tap growing business opportunities as a result of economic reforms in both the

UAE’s AUM seen at near $19b by 2020
(Gulfnews - 21/09/2017)

The total assets under management (AUM) in the Middle East, Africa and South Asia or popularly called as the MEASA Region are expected to surge to $678.9 billion (Dh2.5 trillion) in 2020, from $436.5 billion last year, and that of UAE fund managers are

UAE developers weigh up the cost of VAT on construction
(Gulfnews - 21/09/2017)

Dubai’s developers will have to work out ways to handle the VAT (value-added tax) on contractors during a project development phase. This could even have an impact on how developers end up pricing their property values, an industry source said. As such,

BCG Report Reveals the Six Imperatives to Empower Women Leaders
(Biz Bahrain - 21/09/2017)

The subject of gender diversity is still an emerging one in the Gulf Cooperation Council (GCC) region – where levels of engagement differ across countries, industries, and organization sizes; hence, many organizations may be missing out on significant

Innovation under the spotlight at Sharjah FDI 2017
(The Gulf Today - 21/09/2017)

Innovation and technology were the subjects under discussion during the final panel sessions on the opening day of Sharjah FDI Forum 2017, which concluded on Wednesday at the Jawaher Reception and Convention Centre, Sharjah. The two-day global

Expo 2020 links up business community
(The Gulf Today - 21/09/2017)

The lasting benefits of working with Expo 2020 Dubai will be outlined at a gathering of more than 1,000 delegates from 110 countries at the World Chambers Congress in Australia this week. The congress, which is taking place in Sydney from 19th - 21st

‘Great Workplaces Saudi Arabia List 2017’ attracts huge interest
(Saudi Gazette - 21/09/2017)

In line with international business trends and best practices, entities from the public, private and non-profit sectors of Saudi Arabia are now competing to be recognized for the quality of their work environment. As recently reported by Great Place to

Saudi e-commerce market to double to $22 billion by 2020
(Saudi Gazette - 21/09/2017)

Saudi construction giant alfanar has joined regional organizations such as Virgin Megastore Middle East and North Africa, the Sharjah Cooperative Society, and MODUL University Dubai in showcasing global best practices in digital marketing to transform

Saudi Arabia launches SR10bn entertainment push
(Arab News - 21/09/2017)

Saudi Arabia is set to launch a SR10 billion ($2.67 billion) entertain-ment company as it aims to create 22,000 jobs in the under-served sector. The Public Investment Fund (PIF) said it was in the process of forming a company that will channel

Oman’s Sohar Aluminium gradually restarting production
(Arab News - 21/09/2017)

Oman’s Sohar Aluminium said on Wednesday it was restarting production after an interruption in August, and was working to return to full production as soon as possible. “Sohar Aluminium has confirmed it has re-energised the potline,” CEO Said Al-Masoudi

$72bn hospitality projects under way in UAE
(Trade Arabia - 20/09/2017)

A total of 543 hospitality projects worth Dh262.77 billion ($71.6 billion) are currently under way across the UAE, thus reflecting the vibrancy of the leisure, tourism and the entertainment sectors, according to a report. Of this, a total of 20

Khalifa Port's expansion work to enlarge and deepen the facility
(The National - 20/09/2017)

Abu Dhabi’s US$7 billion Khalifa Port is on track to complete marine works by the second quarter of next year in an expansion project to accommodate a new terminal that will be managed by China’s Cosco Shipping Ports. Abu Dhabi Ports, the operator of

UAE Central Bank ramps up clampdown on banks mis-selling consumer
(The National - 20/09/2017)

The Central Bank of the UAE has stepped up action against banks following complaints of mis-selling on consumer and investment products, a senior executive at the institution said on Tuesday, Nariman Alawadhi, chief manager at the Central Bank, said that

Non-banking finance firms expect marginal growth in demand for funds
(Times of Oman - 20/09/2017)

Leasing and hire purchase firms are showing signs of stability and overall asset growth is expected to be around 5 per cent this year, a top-level official from a non-banking finance company said. A recovery in economic growth in the first quarter is a

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