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Yellen upbeat on economy as growth ramps up
(The Gulf Today - 30/11/2017)

Outgoing Federal Reserve Chair Janet Yellen offered an upbeat assessment of the US economy on Wednesday, saying the growth rate has picked up the pace in recent months. She reaffirmed that the Fed expects to raise interest rates only gradually. However,

Egypt central bank scraps forex restrictions for importers
(Gulfnews - 29/11/2017)

Egypt’s central bank removed caps on deposits and withdrawals of foreign currency for importers on Tuesday, lifting one of the last currency controls in place since a 2011 uprising. The move is another sign bank liquidity is improving as a result of

China factory growth seen slowing slightly
(The Gulf Today - 29/11/2017)

Activity in China’s manufacturing sector likely grew at a slightly slower pace in November, a Reuters poll showed, as export orders softened and tough pollution measures forced many northern steel mills and factories to curb production. But expansion is

Strong euro weighs on European stocks
(Gulf Times - 28/11/2017)

Eurozone stocks closed lower yesterday as the euro remained strong amid hopes that German Chancellor Angela Merkel is close to forming a government, dealers said. London equities also showed losses at the closing bell as investors worried about

Global halal food sector set to boom as market grows
(Arab News - 28/11/2017)

The global halal food and beverage (F&B) market is set to boom in the next five years, driven by new entrants to the market. The sector is expected to grow from $1.24 trillion in 2016 to reach $1.93 trillion by 2022, according to the “State of the Global

Asia stocks slip as China, South Korea weakness weigh
(Reuters - 27/11/2017)

Asian stocks gave back earlier modest gains and fell back from a decade high on Monday, weighed by weakness in the Chinese and South Korean markets, while the euro reached a two-month top against the dollar. MSCI’s broadest index of Asia-Pacific shares

Chinese demand teaser to weigh on Vienna oil summit
(Arab News - 26/11/2017)

A big question ahead of the oil producers’ meeting in Vienna next week is whether buoyant Chinese demand will continue as crude prices drift higher, experts told Arab News. Chinese oil imports have surged in 2017 with the authorities increasingly

General Electric seals $400m Iraq power deal
(Arab News - 23/11/2017)

General Electric has signed a $400 million deal to develop Iraq’s power infrastructure as companies around the world continue to pitch for reconstruction work in the war-torn Middle Eastern nation. The transaction aims to bring electricity to areas

China to step up property market regulation
(The Gulf Today - 22/11/2017)

China will step up financial regulation and crack down on speculation in the property market to stabilise prices and fend off bubble risks, state television CCTV reported on Tuesday, signalling renewed efforts to rein in risks from a rapid build-up in

Indonesia sells 5.95 trillion rupiah of Islamic bonds
(Reuters - 21/11/2017)

Indonesia's finance ministry sold 5.95 trillion rupiah ($439.67 million) of Islamic bonds at an auction on Tuesday, above the indicative target of 5 trillion rupiah, its financing and risk management office said. The weighted average yield for Islamic

Istanbul hosts first OIC conference on mediation
(Anadolu Agency - 21/11/2017)

Turkish deputy foreign minister on Tuesday called for mediation to resolve conflicts in the Islamic world. "We want the resolution of many conflicts in the Islamic world through peaceful means and a mediation method," Ahmet Yildiz told Anadolu Agency

Alibaba takes $2.9 billion stake in food retailer
(The Peninsula - 21/11/2017)

Alibaba said on Monday it would take a major stake in one of China's top food sellers for $2.9 billion as the e-commerce giant expands further into the retail world. China's largest e-commerce platform has invested heavily in recent years to connect its

European stocks shrug off Germany’s political woes
(The Gulf Today - 21/11/2017)

European stock markets were higher Monday, shrugging off a political crisis in Germany where talks to form a new government collapsed. Around 1440 GMT, Frankfurt’s DAX 30 index was up 0.3 per cent, bouncing back from a weaker start, France’s CAC 40 also

Asia stocks falter as weakness in China markets dim mood
(Reuters - 20/11/2017)

Asian shares eased on Monday, with investor sentiment hurt by a retreat on Wall Street and sliding Chinese stocks, while the euro skidded after German coalition talks hit an impasse. Australian shares were down 0.1 percent, while Japan's Nikkei stock

Volkswagen to invest $27 bn in core brand
(Oman Daily Observer - 20/11/2017)

Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending programme aimed at bolstering its position as a maker of electric cars. Most of that sum,

EU slashes Turkey’s pre-accession funds by $124m
(Arab News - 19/11/2017)

After several calls from German Chancellor Angela Merkel for a cut to the EU’s pre-accession assistance to Turkey, the bloc announced on Saturday a significant decrease in its funds for Turkey under the EU’s 2018 budget deal. The reason cited is the

Hong Kong, Shanghai stocks hit by falling oil prices
(The Peninsula - 16/11/2017)

Energy firms plunged on Wednesday as a sell-off in oil extended into Asian trade, sending Hong Kong and Shanghai stocks tumbling. The Hang Seng Index sank 1.03 percent, or 300.43 points, to close at 28,851.69. The benchmark Shanghai Composite Index lost

China’s economy cools as gov’t curbs hit factories,property & retailer
(Oman Daily Observer - 15/11/2017)

China’s economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution. Beijing is already in the second year of a

Asia stocks subdued as China data disappoints
(Reuters - 14/11/2017)

Asian stocks put in a subdued performance on Tuesday as Chinese economic data disappointed and investors pondered whether a marked flattening in the U.S. yield curve might be a harbinger of a future slowdown there. China’s retail sales rose 10 percent on

Cabinet allows $3b borrowing through Sukuk, Eurobonds
(The Express Tribune - 14/11/2017)

The federal cabinet has allowed immediate borrowing of up to $3 billion from international debt markets by floating three sovereign bonds and has also waived a dozen taxes to make deals attractive for investors. Instead of tabling a summary in a cabinet

Eurozone still ‘vulnerable’ as recovery gathers pace: ECB
(The Gulf Today - 14/11/2017)

Some eurozone countries are still “vulnerable” to economic shocks even as a hard-won recovery from the financial crisis solidifies, European Central Bank vice-president Vitor Constancio cautioned on Monday. “We are witnessing a sustained economy recovery

ASEAN signs free trade, investment pacts with Hong Kong
(Arab News - 13/11/2017)

Hong Kong on Sunday signed free trade and investment pacts with the ten-nation Association of Southeast Asian Nations, in what one of the Chinese territory’s senior officials called a “loud and clear” vote against rising regional trade protectionism. The

Egypt inks $2bn IMF loan agreement
(Trade Arabia - 12/11/2017)

Egypt government has reached a staff-level agreement with the International Monetary Fund (IMF) for an installment of about $2 billion more from a three-year, $12 billion loan programme to push through its ambitious economic reforms under the loan deal.

China shopping festival sales hit record $25bn
(Gulf Times - 12/11/2017)

Alibaba, the Chinese e-commerce giant, said yesterday its Singles’ Day sales extravaganza hit $25.4bn, smashing its own record from last year and cementing it as the world’s biggest shopping event. Once a celebration for China’s lonely hearts, Singles’

Emerging stocks flirt with 6-yr highs, Czech crown leaps
(Reuters - 09/11/2017)

Emerging equities extended gains on Thursday, flirting with fresh six-year highs after encouraging Chinese inflation data, while the Czech crown leapt against the euro to a four-year high on rate hike expectations. China’s producer prices were

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