Monday , 18 December 2017

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Abu Dhabi crown prince in Qatar to seal reconciliation


Abu Dhabi’s crown prince paid a brief visit to Qatar on Friday, official media said, to cement reconciliation between the two Gulf Arab states before a regional summit they are to hold in Doha next month. The trip by Sheikh Mohammed bin Zayed al-Nahayan was the first since the United Arab Emirates along with Saudi Arabia and Bahrain withdrew their ... Read More »

Egypt pays back $2.5 bln deposit to Qatar: central bank official

People and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt's headquarters in downtown Cairo

Egypt has paid back $2.5 billion which Qatar deposited with it to help prop up the Egyptian central bank’s hard currency reserves, a central bank official said Friday night. The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding, which the official said would be paid back in the second half of 2015. ... Read More »

HSBC closes some Muslim groups’ accounts


HSBC bank has written to Finsbury Park Mosque and other Muslim organisations in the UK to tell them that their accounts will be closed. The reason given in some cases was that to continue providing services would be outside the bank’s “risk appetite”. The wife and teenage children of a man who runs a London based Islamic think tank have ... Read More »

The National Investor is first to list on ADX as private company


The National Investor has become the first firm to announce that it has listed as a private company on the Abu Dhabi stock market. The Abu Dhabi-based investment management and advisory company, which manages about US$100 million, is betting that boosting its profile and releasing more information about its business will make it better placed to borrow money at more ... Read More »

UAE’s female designers fashioning a bright future


A model wearing an outfit from UAE fashion designer Fatma al-Mosa For Khawla bin Khedia it was receiving compliments about her homemade clothes that first set her on the path to becoming a professional fashion designer. “In my first year of university people often stopped me to say that they liked what I was wearing, and ask where I bought ... Read More »

Erdogan: Muslims Discovered Americas, Columbus Saw Their Mosque


Turkish President Recep Tayyip Erdogan, a man of sanity, integrity, and shoe boxes stuffed with cash, has told a conference of Latin American Muslim leaders gathered in Istanbul that Muslims discovered the Americas more than three hundred years before Christopher Columbus. He pinpointed the date exactly, saying “Muslim sailors arrived in America in 1178.” The Turkish president based his claim ... Read More »

$3.5 billion deals signed to develop oil and gas fields


Haseeb Haider – Principal Correspondent, Abu Dhabi / 12 November 2014Contracts awarded to develop Nasr Full Field Development project      Abu Dhabi: Abu Dhabi Marine Operating Company, also known as Adma-Opco, has signed three major contracts for Nasr Full Field Development project with National Petroleum Construction Company (NPCC), Hyundai Heavy Industries (HHI) and Technip, at an approximate total value ... Read More »

Meraas plans to launch initial public offering

Dubai Parks and Resorts, set up by Dubai government-owned developer Meraas Holding, said it would apply to list its ordinary shares on the Dubai Financial Market.    Dubai: Dubai Parks and Resorts, a subsidiary of Meraas Holding, announced on Tuesday that it would launch an initial public offering, or IPO, to raise Dh2.53 billion as it embarks on building a ... Read More »

Pak, China set to ink MoUs for early harvest projects


Prime Minister Nawaz Sharif and Chinese President Xi Jinping are set to sign agreements for around 17 projects as a part of the Pakistan-China Economic Corridor project during Sharif’s upcoming visit to China, Pakistan Today has learnt. PM Sharif is scheduled to leave for China on November 7 to attend the Asia Pacific Economic Cooperation (APEC) Informal Leaders’ Meeting. However, on the ... Read More »

WIEF Dubai: Islamic finance adds up across the world


Over three days of speeches, debate, policymaking, and plain old marketing one theme emerged as dominant from the 10th World Islamic Economic Forum in Dubai: Islamic finance has gone global, both as a concept and as a hard business reality. After two years on the road — last year in London and 2014 in Dubai — the annual forum is ... Read More »