Banks and petrochemicals stocks could be relative strong performers in the GCC in 2017 thanks to benchmark interest rate rises and a recovery in the global crude oil price, although slowing economic growth may weigh on regional markets. Both sectors have suffered in the last couple of years due to the dramatic oil price decline. The knock-on effect of lower investment and economic growth hit banks, with […]
How’s your weekend going? Redditor, Law School Graduate, and nimble navigator William Craddick (/u/PleadingtheYiff / brand new Twitter handle @williamcraddick) has made quite the name for himself on Reddit’s “The_Donald” forum. In just three short months, Craddick has managed to rack up over 153,000 “post karma” and 48k “comment karma,” which (if you’re not familiar) is impressive. The guy is an incredibly effective dot-connector, perhaps owing it to his legal training – often posting lengthy reads that […]
Oil started the first week of 2017 with a bang but ended it with a whimper, as the Opec fireworks that dominated the last quarter gave way to the more mundane reality of monitoring if the cartel will make good on its pledged cuts. Brent crude oil briefly touched an 18-month high above $58 a barrel on the first day of trading but there was little fresh […]
DUBAI, UNITED ARAB EMIRATES: 5 January 2017 Thomson Reuters, the world’s leading source of news and information for professional markets and the Dubai Financial Services Authority (DFSA), will co-host the 11th MENA Regulatory Summit on February 5th & 6th in Dubai, United Arab Emirates. Held under the patronage of the UAE Minister of Economy, H.E Sultan bin Saeed Al Mansouri, the summit will debate key challenges that […]
Abu Dhabi-based Mubadala Development Co is reportedly mulling plans to commit up to $15 billion to partner with a new fund to invest in global technology. Bloomberg reported that Mubadala is looking to partner with SoftBank Group Corp and Saudi Arabia’s Public Investment Fund in the SoftBank Vision Fund which is set to close in January and will be capped at $100 billion, citing people familiar with […]
Argentina is looking to sell up to $10bn of debt, taking advantage of calmer conditions across bond markets and a pullback in the US dollar. The year-old government of Mauricio Macri is just one of a host of other emerging markets, including Brazil, Saudi Arabia and Nigeria, all racing to raise finance soon to mitigate risks stemming from the uncertainty over the direction of US policy, with […]
For the tourists visiting Abu Dhabi from around the world, buying dates is a top priority when searching for a taste of the UAE to take back home as gifts for family and friends. ABU DHABI // Date traders are in their element during the winter months at Mina Dates Market because the influx of tourists means they are doing brisk business. It seems the little fruit […]
The United States on Thursday officially listed a son of Osama bin Laden as a “global terrorist,” and warned that the younger man, who has called for attacks around the world, poses a risk to American national security. The son, Hamza bin Laden, who has pledged to take up Osama bin Laden’s violent mantle and avenge his death, is “actively engaged in terrorism,” the State Department said, […]
ABU DHABI // UAE doctors have begun a humanitarian mission in several African countries, providing medical treatment for children and the elderly. The Zayed Giving medical convoys will cover areas in Sudan, Egypt, Tanzania, Mauritania and Morocco, under the supervision of volunteer doctors in cooperation with the Ministry of Health and Prevention, reported Wam, the state news agency. The Saudi-German Hospital, Dar Al Ber Society and the […]
OPEC’s oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria’s oil industry and top exporter Saudi Arabia trimming exports. The decline, the first since May according to Reuters surveys, occurred despite higher exports from second-largest OPEC producer Iraq and a further upward trend in Libyan output. Supply from OPEC […]
ADEN At least three soldiers were killed in clashes with al Qaeda militants in southern Yemen in an operation launched by the internationally recognised government of President Abd-Rabu Mansour Hadi, security sources said. They said at least 10 other soldiers were wounded when troops were ambushed east of the coastal city of Shuqra on Tuesday. Intense clashes were continuing on Wednesday. The sources said that Hadi forces, […]
CAIRO: A report alleging human rights violations in Yemen by Houthi rebels has recorded 949 cases of damaged public property and 2,673 instances of private property damage, the Saudi Embassy here reported on Tuesday.The damage varied between complete and partial by bombardment from Houthi militants and loyalists of deposed President Abdullah Saleh against civilian homes and government and private facilities, according to a statement released on Tuesday […]
04 January 2017 BBK has recently announced new appointments in its Executive Management as part of a re-organization plan recently approved by the Bank’s Board of Directors and the Central Bank of Bahrain. The new structure aims to foster the Bank’s three years strategy (2016-2018), in addition to achieving the future vision and expectations of the Bank’s shareholders and stakeholders. The new organization included the following appointments: […]
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 […]
|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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
