Foreign financial support to the Palestinian budget is running at about half the forecast level, the Palestinian prime minister told local media on Tuesday, meaning deep cuts will have to be made to the budget this year. At its cabinet meeting, the government said it expected to run a budget deficit of 4.12 billion shekels in 2017 ($1.06 billion), approaching 15 percent of gross domestic product. “We […]
ISLAMABAD – One day before the hearing of the Panama leaks, Pakistan Tehreek-e-Insaf yeserday filed fresh evidence before the Supreme Court. Prime Minister Nawaz Sharif and his children also filed applications for changing their counsels. In place of Salman Aslam Butt now Makhdoom Ali Khan would represent the PM, while Salman Akram Raja would appear instead of Akram Sheikh on behalf of Hassan Nawaz and Hussain Nawaz. […]
Dubai Financial Market (DFM) , the Gulf’s only listed stock exchange, said on Tuesday that it planned to introduce covered short-selling, a move that could increase trading liquidity. “DFM is planning implementation of regulated short-selling on a selected list of eligible securities in accordance with international recommendations under local market conditions in the coming months, subject to regulatory approvals of its rules,” it said in a statement […]
Saudi Arabia’s Council of Ministers has approved the organisational procedures for the General Authority of Sports in order to promote athleticism in the Kingdom. The newly approved measures also aim to organize and develop the sports sector, the Minister of Culture and Information Dr. Adel Al-Turaifi told the Saudi Press Agency following a Cabinet session headed by King Salman in Riyadh. Al-Turaifi said the authority would work […]
|By Matein Khalid|“Few individuals alter the course of history. Fewer still change the map of the world. Hardly anyone creates a nation state. Mohammed Ali Jinnah did all three”. Dr. Stanley Wolpert’s words still give me goose pimples two decades after I first read his book. Mr. Jinnah founded Pakistan and was also my ancestral kinsman. I too was born in Karachi, the city by the sea, […]
Saudi Arabia stressed on Monday the importance of co-operation among oil producers to abide by a decision in November to cut production. OPEC agreed in November its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand that arch-rival Iran slash output. “The council (of ministers)…asserted the importance of stability and coordination and increased cooperation between member […]
The Abu Dhabi Government has announced the list of public holidays planned for 2017. “The following list shows the public holidays in the UAE for the year 2017. The official reference to determine Islamic occasions, such as the beginning of Ramadan or Haj, is the Hijri Calendar. It is based on the phases of the moon. Hence, the exact dates of Islamic events vary from one Gregorian […]
JEDDAH: Citizens of the UAE have been warned against traveling to Turkey following the deadly Daesh-claimed attack on a packed Istanbul nightclub, in which 39 people were killed.The news came as a travel expert warned that Turkey’s tourism industry will suffer after a string of terror strikes in Istanbul and elsewhere.The UAE Ministry of Foreign Affairs and International Cooperation issued the travel warning to its citizens on […]
Saudi Arabia’s Yamama Cement Company has secured 1 billion riyals ($266.6 million) in Islamic financing to partially fund the building of a new factory, it said on Monday. The three-year financing includes 750 million riyals from National Commercial Bank and 250 million riyals from Samba Financial Group, it said in the statement. The company signed a 4.2 billion riyal contract with Germany’s ThyssenKrupp Industrial Solutions in November […]
By Yara Abi Nader and Humeyra Pamuk | ISTANBUL ISTANBUL Shot in the arm and slumped behind a table, Francois al-Asmar played dead as the gunman walked through the exclusive Istanbul nightclub shooting the wounded as they lay on the ground. Like most of the 39 people killed at a New Year’s party in Reina, a hang-out for the Turkish jet set and moneyed foreigners, the Lebanese […]
The awards celebrates the top global banks on their performance through the year. Saudi Arabia, 2 January 2017 Alawwal Bank won The Banker’s ‘Bank of the Year’ (Saudi Arabia) at a ceremony hosted in London, England. The award win caps off a momentous year for the bank and follows a series of award wins in 2016 including ‘Best Mobile Application for Banking’ and ‘Best Call Center’. The […]
Saudi Arabia’s gross domestic product (GDP), adjusted for inflation, grew by just 0.9 percent from a year earlier in the third quarter of 2016. This compared to the 1.4 percent growth seen in the second quarter, according to data from the Central Department of Statistics showed. The Q3 growth was the slowest recorded since 0.3 percent in the first quarter of 2013. The slowdown comes as Saudi […]
MANAMA, BAHRAIN – 02 January 2017 Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020117) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. This aims to further develop the growth achieved in Ithmaar Bank’s core retail banking business, the […]
The UAE has moved up a global list of the best destinations for expats to enjoy a successful career while Bahrain is also in the world’s top 10 places to move to. The UAE now ranks as the fourth best destination after moving up two places on 2015 in the new data released by HSBC. Bahrain, ranked 10th, fell three places compared to last year’s list, while […]
Welcome to a new year and the pressing market issues facing investors as they look to put money to work and navigate 2017. Geopolitical surprises upended expectations last year and few predicted that 2016 would end with a global bull market in equities, while bond yields remain relatively low. Will strategists be any better at forecasting this time around? Here are the big questions that will preoccupy […]
CAIRO Islamic State claimed responsibility on Monday for a New Year’s Day mass shooting in a packed Istanbul nightclub that killed 39 people, an attack carried out by a lone gunman who remains at large. The jihadist group made the claim in a statement on one of its Telegram channels, a method it has used to claim attacks in the past. There was no immediate comment from […]
Submitted by Federico Pieraccini via Strategic-Culture.org, The two previous articles have focused on the various geopolitical theories, their translations into modern concepts, and practical actions that the United States has taken in recent decades to aspire to global dominance. This segment will describe how Iran, China and Russia have over the years adopted a variety of economic and military actions to repel the continual assault on their sovereignty by the […]
Saudi Arabia has invited an Iranian delegation to partake in discussions over efforts to accommodate Haj pilgrims from the Islamic Republic after a dispute resulted in their absence at the religious event earlier this year. Saudi Minister of Haj, Dr Mohammad Saleh bin Taher Benten, said the Saudi government welcomes all pilgrims and visitors irrespective of nationality and religious affiliation. He added in comments published by Kuwait […]
Items marked ** denote new or amended listings TUESDAY, JUNE 10 KUWAIT – IFN Forum Kuwait Details: SUNDAY, JUNE 14 CHICAGO – Chicago Islamic Economic & Finance Conference Details: MONDAY, JUNE 16 KAZAKHSTAN – Seminar on Islamic Finance – Kazakhstan Details: TUESDAY, JUNE 17 KAZAKHSTAN – IFSB-FIS Workshop Series (Kazakhstan) Details: TUESDAY, JUNE 17 IRAN – IFN Forum Iran Details: MONDAY, JUNE 23 (until June 24) UK […]
ABU DHABI // Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, has congratulated the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on the second anniversary of his accession to the throne of Saudi Arabia. Sheikh Mohammed described the occasion as important and historic. “Today is the second anniversary of the accession of the […]
An Egyptian appeals court on Saturday upheld an agreement to give control of two islands in the Red Sea to Saudi Arabia, providing a boost for the government in a case that has prompted rare street protests. The territorial deal, announced in April, caused public uproar among many Egyptians who said the uninhabited islands of Tiran and Sanafir belonged to their country. The case has become a […]
Ten inmates have escaped after an “armed attack” on a high-security prison in Bahrain, with one policeman killed in what the Gulf state called a “terrorist operation”. The interior ministry said the escapees from Jaw prison included a number of prisoners held on terrorism-related charges. “Policeman Abdulsalam Saif was martyred trying to deal with the terrorist elements,” it said. The authorities said four or five assailants armed […]
Last Updated On 01 January,2017 12:58 am As we are saying pip pip to the year 2016, let’s scroll through the most significant happenings of soon-to-be previous year. While doing so, we will get to know that some of the events and happenings can truly be termed as defining moments in history. One of such phenomenon was Panama Leaks that for a moment not only shook the […]
DUBAI At least five Saudi citizens were among 39 people killed in an attack on New Year revellers at a packed nightclub in Istanbul, a Saudi newspaper reported. The state-affiliated al-Riyadh paper also quoted the acting consul general in Istanbul as saying about 10 Saudi citizens were injured, adding that the consulate was following up with Turkish authorities to find out the exact number of casualties. (Reporting […]
