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Egypt expects to renew financing deal with global banks
(Arab News - 18/10/2017)

Egyptian Finance Minister Amr El-Garhy said on Monday he expects a financing agreement with a consortium of global banks will be renewed for another year with the aim to boost foreign reserves while the government implements economic reforms. “I think

Maybank Islamic named the Best Global Islamic Financial Institution
(New Straits Times - 17/10/2017)

Maybank Islamic Bhd has emerged as the Best Global Islamic Financial Institution, its first ever, at the Global Finance Awards 2017. It was also recognised as the Best Global Sukuk Bank and Best Global Provider of Shariah-Compliant Short-Term Investments

China shares fall, market shrugs off upbeat economic growth forecast
(Gulfnews - 17/10/2017)

China’s major share indexes fell on Monday as a surprisingly strong central bank economic growth projection failed to spur buying while tech stocks slumped after disappointing profit forecasts. Central bank governor Zhou Xiaochuan said the economy was

Pakistan turns to Islamic finance market for support
(Nikkei Asian Review - 15/10/2017)

Pakistan's first international bond in a year is likely to be well received by investors, despite deepening concerns about the country's macroeconomic stability and deteriorating political risk profile, fund managers and economists said. The finance

US moves closer to EU position on taxing tech giants
(Arab News - 15/10/2017)

Washington is softening its position on European plans to impose taxes on US tech giants such as Apple and Google, officials said this week. The evolving attitude in recent days would mark a stark shift from American officials’ frustration at previous

Govt to issue another Sukuk bond
(The Nation - 14/10/2017)

Pakistan would once again tap international capital market to issue Sukuk bond within next couple of months to generate at least $1 billion to build the country’s foreign exchange reserves. “The process of issuance Sukuk bond has started already which

Emerging stocks at new 6-year high
(Reuters - 13/10/2017)

A retreating dollar, solid commodity prices and new record highs for world stocks helped extend the rally in emerging markets yesterday, with stocks at new six-year highs and currencies firming almost across the board. MSCI’s emerging equity index, which

China to sell first dollar bonds in 13 years
(Gulfnews - 12/10/2017)

China on Wednesday announced plans to sell its first dollar-denominated sovereign bonds in 13 years despite recent downgrades to its credit rating. The $2 billion offering, announced by the finance ministry, is a drop in the bucket for China, which has

UK budgets as ‘cloud of uncertainty’ hits economy
(Oman Daily Observer - 12/10/2017)

Britain’s businesses have reined in spending as Brexit uncertainty weighs, the government said on Wednesday, as it pledged £250 million ($330 million) for departments to prepare the country’s EU departure. Chancellor of the Exchequer Philip Hammond told

Russia's Sberbank considers Islamic finance entity, to propose regulat
(Reuters - 11/10/2017)

Russia’s largest lender Sberbank is considering setting up an Islamic finance entity and will propose regulatory changes to facilitate sharia-compliant business, a senior bank official told Reuters. Russian banks want to develop Islamic finance to

Kazakhstan on track to become Central Asia’s Islamic finance hub
(Gulf Times - 11/10/2017)

Central Asia’s largest country Kazakhstan, with a Muslim-majority population of around 18mn people, is sustainably entrenching its role of becoming the region’s centre of Islamic finance and banking. As for the latest developments, it turned out at the

Asia markets rise as N Korea fears ease
(Gulf Times - 11/10/2017)

South Korean and Japanese traders sent shares rallying yesterday as they returned from a long weekend while most other markets tacked on gains despite a soft lead from Wall Street. Investors started the week on a positive note on Monday as they looked

Wal-Mart launches $20 billion buyback plan
(Reuters - 10/10/2017)

Wal-Mart Stores Inc (WMT.N) on Tuesday unveiled a $20 billion share buyback plan and forecast U.S. online sales to increase by about 40 percent in the fiscal year ending January 2019. Wal-Mart’s shares were up 1.6 percent at $81.80 in premarket trading

Germany, China lift stocks, Spain worries simmer
(The Gulf Today - 10/10/2017)

World shares rose on Monday, with Chinese stocks hitting 21-month highs and the German index setting a new record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt. Wall Street looked set to open higher, with

13th WIFE to tackle innovation, Islamic finance, halal goods in global
(Saudi Gazette - 09/10/2017)

There should be more focus on enhancing the opportunities available for startup businesses initiated by youth and the Islamic finance opportunities, said Tun Musa Hitam, chairman of the World Islamic Economic Forum (WIEF) Foundation. He highlighted the

Pakistan rules out devaluation or appeal to IMF
(Arab News - 09/10/2017)

Pakistan will not devalue the rupee or seek help from the International Monetary Fund to address its fiscal challenges, Prime Minister Shahid Khaqan Abbasi told Arab News in an exclusive interview. A rising trade deficit, a potential currency crisis and

Japan’s Denso spends $1bn on US EVs and car safety systems
(Gulf Times - 08/10/2017)

Japan’s Denso Corp is placing a $1bn bet that the US auto sector’s future is electric. Toyota Motor Corp’s top parts supplier said Friday it’ll invest that much to expand its factory in Maryville, Tennessee, to make components for electrified, connected

Sustainability of G20 growth ‘not assured’
(Saudi Gazette - 08/10/2017)

The IMF on Friday called on the world's largest economies to address stalling growth and productivity and worrisome current accounts imbalances, saying the global recovery is not guaranteed to continue. In a report on the economic health of Group of 20

Hong Kong shares post best week since July with PBOC boost
(Nikkei Markets - 06/10/2017)

Hong Kong shares clinched their best weekly advance since July, helped by China's efforts to direct bank credit to small businesses. The Hang Seng Index added 3.3% during the week, which was shortened to three trading days because of public holidays. The

Asian Shares Mostly Higher Ahead Of US Jobs Data
(RTT News - 06/10/2017)

Asian stocks closed mostly higher on Friday, tracking overnight gains on Wall Street after Congress passed a $4.1 trillion budget resolution and data on jobless claims, factory orders and trade balance pointed to underlying strength in the economy.

Australia shares seen rising over 3 pct by year-end, more in 2018
(Reuters - 05/10/2017)

Australian shares are poised to end the year higher and extend that rise into 2018, a Reuters poll found, driven by broader optimism around the domestic and global economies and supported by dovish signals from the central bank. After gaining 7 percent

A global economic order on the verge of unravelling
(Gulfnews - 05/10/2017)

Next month, when finance ministers and central bank governors from more than 180 countries gather in Washington, DC, for the annual meetings of the International Monetary Fund and the World Bank, they will confront a global economic order under

EU hammers Amazon and Apple as tax offensive builds momentum
(Arab News - 05/10/2017)

The EU turned the screw on US tech giants yesterday, ordering Amazon to repay Luxembourg €250 million in back taxes and taking Ireland to court for failing to collect billions from Apple. Europe's competition chief Margrethe Vestager accused tiny

The U.K. Could Lose a $79 Billion Market After Brexit
(Bloomberg - 04/10/2017)

Brexit could cost the U.K. its position as the leading data market in Europe, a government-funded digital innovation group warns. The British economy could miss out on as much as 67 billion euros ($79 billion) annually by failing to play its cards right

MARC AFFIRMS ITS AAA-IS RATING ON AMAN SUKUK’S RM10 BILLION
(Press Release - 04/10/2017)

MARC has affirmed its AAAIS rating on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. The affirmed rating is premised on the credit strength of the Malaysian