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Saudi Arabia announces closure of third Sukuk offering
(Al Arabiya - 19/09/2017)

The Ministry of Finance announced on Tuesday that it had closed the third domestic Sukuk issuance under the Saudi government SAR-denominated Sukuk Program. In the a statement released to the Saudi Press Agency, the finance minister said he subscription

Path Solutions signs Sudan Financial Services Co. to iMAL
(Press Release - 19/09/2017)

Kuwait-based Path Solutions, an international core banking system provider for Islamic banks and financial institutions, has announced the signing of a licence agreement with Sudan Financial Services Company (“SFSC”), giving Path Solutions unrestricted

Kuwait: Early signs of recovery of the consumer sector
(Press Release - 19/09/2017)

The consumer sector appeared to stabilize and show some early signs of recovery in 2017, following a noticeable slowdown in 2016. Lower oil prices and some fiscal adjustment negatively impacted the consumer sector in 2016. Although we are seeing

Gulf Capital Announces the Successful Sale of Reach Employment Service
(Press Release - 19/09/2017)

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, announced today the full exit from its portfolio company, Reach Employment Services, the leading manpower outsourcing company in the UAE, generating a return

Saudi producers sees sales drop 16% in August 2017
(Cement News - 19/09/2017)

The sales of Saudi cement producers fell 15.5 per cent to 3.72Mt in August 2017 when compared to 4.4Mt reported in August 2016. Total production in August reached 3.79Mt, down YoY from 4.3Mt, according to Yamama Cement Co. Cement inventories rose 11.3

Saudi Arabia Raises $1.9 Billion From Islamic Bond
(Bloomberg - 19/09/2017)

Saudi Arabia raised 7 billion riyals ($1.9 billion) from domestic sukuk sales as the kingdom seeks to bolster finances amid an economic overhaul and lower oil prices. The government received more than 24 billion riyals in bids for its third

Business lending recovery to strengthen UAE banks
(The National - 19/09/2017)

The UAE banking sector is likely to strengthen this year and in 2018 on the back of increased lending to businesses, according to BMI Research, barring any fresh slump in oil prices during the period. “Despite having slowed moderately in the past several

Qatar in a strong position despite 3 months of blockade
(Gulf Times - 19/09/2017)

Three months into the economic blockade by some Arab countries, Qatar is seen weathering the siege and still remains in a strong position to meet domestic funding requirements, according to Washington-based Institute of International Finance (IIF).

Omani banks achieve 6.1 per cent growth in credit at OMR23b
(Times of Oman - 19/09/2017)

Omani banks, including Islamic institutions, have achieved a year-on-year growth of 6.1 per cent in total credit at OMR22.8 billion by July-end of 2017. Credit to the private sector alone grew by 6.8 per cent to OMR20.6 billion as of the end of July this

Qatar Chamber to participate in World Chambers meet
(The Peninsula - 19/09/2017)

Qatar Chamber (QC) will participate in the 10th World Chambers Congress, which will be held in Sydney from September 19 to 21. The conference is being held by the World Chambers Federation and the International Chamber of Commerce (ICC), in conjunction

Qatar-France trade volume exceeds QR7bn
(The Peninsula - 19/09/2017)

The two-way trade volume between Qatar and France in 2016 touched €1.6bn (QR7bn), which has grown to nearly double compared to €823m (QR3.62bn) seen in 2014. However, in comparison to €2.5bn recorded in 2015, the trade volume in 2016 witnessed a sharp

Oman can be fully green energy-powered by 2050
(Oman Daily Observer - 19/09/2017)

Solar power systems are being installed on the rooftops of as many as 22 schools run by the Ministry of Education around the Sultanate, underscoring multi-sectoral efforts to promote the uptake of renewables in Oman. Seen in conjunction with recent

Bahrain, Sudan to enhance economic cooperation
(Gulfnews - 19/09/2017)

Bahraini Finance Minister, Shaikh Ahmad Bin Mohammad Al Khalifa, has received Abdul Rahman Derar, Minister of State at the Sudanese Ministry of Finance and National Economy. According to Bahrain News Agency, the two delegations discussed means of

UAE’s non-oil contribution to GDP to swell to 80% by 2021
(Gulfnews - 19/09/2017)

The UAE’s non-oil contribution to its GDP (gross domestic product) will jump by about 14 per cent in four years due to rapid diversification of the economy, Sultan Bin Saeed Al Mansouri, Minister of Economy, said on Monday. Currently, the non-oil sector

Energy Investment Forum and Exhibition starts in Bahrain
(Biz Bahrain - 19/09/2017)

Electricity and Water Affairs Minister Dr. Abdul Hussain bin Ali Mirza inaugurated today the first Energy Investment Forum and its associated exhibition STEEB2017. The event , held at Bahrain International Exhibition and Convention Centre, is organised

Economists gather as Sharjah FDI Forum 2017 opens today
(The Gulf Today - 19/09/2017)

Sharjah FDI Forum 2017 will open today in the Emirate of Sharjah with more than 30 senior economists from the public and private sectors participating in the event this year. The two-day investment conference is being held under the patronage of His

KSA to issue tenders for 1,600km rail line early ’18
(Saudi Gazette - 19/09/2017)

Saudi Arabia is planning to issue tenders for its long-delayed Land Bridge rail project linking the Red Sea port of Jeddah with the Arabian Gulf and the capital Riyadh by early 2018, Saudi Railways Company Chief Executive Bashar Al Malik told Bloomberg.

Halal Expo to boost UAE’s $20b imports
(Saudi Gazette - 19/09/2017)

Amina Ahmed Mohammed, Chief Executive Officer of the Emirates International Accreditation Centre (EIAC), officially opened the 9th Halal Expo Dubai 2017, at a ceremony at Roda Al Bustan Hotel on Monday, two days after Malaysia officially recognized the

MENA structural reforms woo foreign investments
(Saudi Gazette - 19/09/2017)

Arqaam Capital, the specialist emerging and frontier markets Investment Bank, on Monday inaugurated its fourth MENA Investors Conference in Dubai against the backdrop of an unprecedented level of change and structural reforms undertaken by governments in

Saudi Arabia still examining options for nuclear power plants
(Arab News - 19/09/2017)

Saudi Arabia said on Monday it was still undertaking feasibility studies before deciding how and where to build its first nuclear power stations. Industry sources said last week that Saudi Arabia was expected to launch a tendering process for its first

Saudi-backed fund invests in Slack
(Arab News - 19/09/2017)

Software startup Slack Technologies raised $250 million from SoftBank Group and other investors in a funding round that boosted the company’s valuation to $5.1 billion. The latest fundraising, led by SoftBank through its giant Vision Fund and joined by

Saudi to launch Future Investment Initiative event
(Arab News - 19/09/2017)

The Public Investment Fund of the Kingdom of Saudi Arabia (PIF) announced Monday the launch of the Future Investment Initiative (FII) under the patronage of King Salman. Hosted and organized by PIF, the Kingdom’s main investment arm and one of the

Saudi PIF to host top Future Investment Initiative
(Trade Arabia - 18/09/2017)

The Public Investment Fund (PIF) of Saudi Arabia today announced the launch of the Future Investment Initiative (FII) under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud. Hosted and organised by PIF, the

Saudi Arabia to Seek Bidders for 1,000-Mile Red Sea-Gulf Railway
(Bloomberg - 18/09/2017)

Saudi Arabia plans to seek bidders for the construction of a 1,000-mile (1,600-kilometer) railroad linking the Red Sea with the Persian Gulf as early as the end of this year, signaling the go ahead for a long-delayed project seen as vital to reducing the

UAE trade to grow 4.35pc in 2017: report
(Trade Arabia - 18/09/2017)

UAE is expected to record a steady rise in trade of 4.35 per cent year on year in 2017, driven by a 5 per cent growth in imports and exports of 3.7 per cent, according to a BMI report published recently. The report sees positive economic growth for the

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