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IMF’s tip to go gradual sways economists divining Bank of Russia
(Gulf Times - 31/05/2016)

Even after almost a year of unchanged rates, caution is still a virtue for economists gauging the Russian central bank’s next move. All but two of the 25 economists surveyed by Bloomberg agreed with the International Monetary Fund’s advice to keep the

IMF turns its back on Europeans in Greece bailout
(Arab News - 31/05/2016)

The “breakthrough” deal announced Wednesday to resume handing out bailout money to Greece sounded like old times: The International Monetary Fund working with European countries again as official lenders to Athens. In the end, however, the anti-global

Most economists say Brexit will harm UK economy
(The Gulf Today - 30/05/2016)

Nine out of 10 of Britain’s top economists working in London’s City financial district, small business and academia believe the economy will be harmed if Britain leaves the European Union, a poll said on Sunday. The poll, which the Observer newspaper

US economy showing signs of life after slow start to year
(Arab News - 29/05/2016)

The US economy is showing signs of more life after a less-than-stellar start to the year. The government said that first-quarter growth, while disappointing, wasn’t as bad as first thought. And a number of more recent indicators are showing decent gains

World leaders gather in Japan for G7 summit
(The Gulf Today - 26/05/2016)

US President Barack Obama arrived in Japan on Wednesday for a Group of Seven summit, kicking off a historic visit that will also take him to the atomic-bombed city of Hiroshima. Obama was joining other leaders from the club of rich democracies for a

Indonesia opens new sectors to foreign investment
(Gulfnews - 25/05/2016)

Indonesia has opened a string of new sectors to foreign businesses to attract more investment and help pull Southeast Asia’s biggest economy out of a slowdown, an official said Tuesday. Restrictions have been eased on investing in host of industries

Greece to adopt more cuts for bailout cash
(The Gulf Today - 23/05/2016)

Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation. After waves of protests over a string of unpopular reforms, lawmakers from

Pakistan cuts key rate to boost growth
(The Gulf Today - 22/05/2016)

Pakistan’s central bank unexpectedly lowered its benchmark interest rate for the first time since September to boost economic growth before the government presents its budget for the new financial year. The State Bank of Pakistan cut the target policy

G7 warns over global economy
(The Gulf Today - 22/05/2016)

G7 finance ministers on Saturday voiced concern about the sputtering global economy as they looked for a plan to stoke growth, while a currency policy clash overshadowed their meetings. Two days of talks at a hot spring resort in northern Japan focused

WB launches $500m insurance fund to fight pandemics
(Arab News - 22/05/2016)

The World Bank said it was launching a $500 million, fast-disbursing insurance fund to combat deadly pandemics in poor countries, creating the world’s first insurance market for pandemic risk. Japan has committed the first $50 million toward the

Japan’s economy dodges recession in Q1
(The Gulf Today - 19/05/2016)

Japan’s economy expanded at the fastest pace in a year in the first quarter, thanks in part to a leap year consumption boost, but analysts say the rebound was not strong enough to dispel concerns over a contraction in this quarter. With private

European recovery will hasten Vodafone earnings growth
(Arab News - 18/05/2016)

Vodafone said its recovery would accelerate this year after investment in faster networks boosted demand in Europe and helped the group return to underlying revenue and core earnings growth for the first time since 2008. CEO Vittorio Colao said a strong

ICD & OJK collaborate to transform Islamic finance industry in Indonas
(Saudi Gazette - 17/05/2016)

A seminar was held Monday at the Sultan Hotel by the Islamic Corporation for the Development of the Private Sector (ICD) in collaboration with Financial Services Authority (OJK), with the theme “The Transformation of the Islamic Finance Industry in

China central bank probes bad loan data
(Arab News - 17/05/2016)

China’s central bank is investigating the accuracy of non-performing loans (NPLs) data at banks, people with direct knowledge of the matter told Reuters on Monday, underlining policymakers’ concerns about rising debt in the country. Specifically, the

Financial market oversight: China to study UK model
(Arab News - 16/05/2016)

China has asked Britain for advice on plans to create a financial super-regulator, as it looks to improve financial oversight following last year’s stock market crash, sources with knowledge of the talks told Reuters. The discussions between

German firms scaling back investment in UK
(Saudi Gazette - 15/05/2016)

German companies are scaling back their investment in Britain ahead of its June 23 referendum on membership of the European Union, and German industry is becoming increasingly vocal in warning that a Brexit would hit both countries’ economies. German

US retail giants feel pain as online fashion vendors widen reach
(Arab News - 15/05/2016)

Iconic American stores Macy’s and Gap are facing tough questions about their future following dreary earnings announcements that highlighted the growing market share taken by online retailers. Conventional retailer profits are falling as fewer shoppers

Brexit would cost financial firms $25 billion
(The Gulf Today - 12/05/2016)

Leaving the European Union would cause a decade of uncertainty that could cost Britain’s financial services an estimated 17 billion pounds ($25 billion) and make lawyers rich, a think-tank study said on Tuesday. Analysts at JWG, which specialises in

IFSB launches the fourth Stability Report 2016
(CPI Financial - 11/05/2016)

HE Dr. Hendar, the Deputy Governor of Bank Indonesia, officially launched the fourth edition of the Islamic Financial Services Board’s (IFSB) Islamic Financial Services Industry Stability Report 2016 in Kuala Lumpur today. Following his keynote speech,

Islamic finance can fund long-term development projects
(The Star - 11/05/2016)

Islamic finance is well suited to bridge financing gaps in long-term infrastructure development projects, especially in less developed markets where fundings are scarce. Deputy finance minister Datuk Johari Abdul Ghani (pic) said while the potential in

Energy deals elusive despite $110bn in assets on the block
(Arab News - 11/05/2016)

Energy companies, including some of the world’s biggest, could be forced to slash prices of more than $110 billion worth of assets they want to sell after dealmaking in oil and gas fields ground to a halt due to the volatile crude market. The values that

Sukuk volume drops as appetite for spend wanes
(Gulf Times - 11/05/2016)

Global sukuk issuances took a hit last year and are not likely to recover in 2016, a recent report launched by International Islamic Financial Market (IIFM) in Singapore last month showed. The IIMF, a Bahrain-based standard-setting non-profit

Global stocks fluctuate amid mixed economic data
(The Gulf Today - 10/05/2016)

Global stocks fluctuated as investors assessed a mixed batch of economic data, with European shares rallying after a German factory orders report and industrial metals dragged lower by weak Chinese trade figures. Health-care and consumer staples

Bank of England to hold steady ahead of key vote
(Arab News - 10/05/2016)

In normal circumstances, the Bank of England might be close to pumping more stimulus into Britain’s economy, given recent signs of a sharp slowdown in growth and a rise in the number of people out of work. But Governor Mark Carney and his fellow

Business jet sales in biggest decline in 5 years after oil price fall
(The National - 09/05/2016)

Sales of new private aircraft fell 16 per cent in the first quarter from a year ago as demand weakened for the largest planes. Jet airplane billings were about $3.53 billion in the first quarter, down from $4.2 billion a year earlier, according to the

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