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The 23rd World Islamic Banking Conference took place 5-7 December 2016 in Bahrain. (Twiiter/WIBC2016)
December 08, 2016 - 08:00 GMT
Tackling the lack of human capital in Islamic banking industry should be considered a priority, according to the chairman of Saudi Arabian Monetary Authority.
As with other major cities in Saudi, Makkah is facing an acute shortage of affordable housing. (File photo)
December 08, 2016 - 07:00 GMT
Mecca continues to enjoy high hotel occupancy rates from religious tourism, but permanent residents are being largely priced out of the city center, according to JLL's report on the holy city's real estate market.
Arab Bank is one of the largest privately owned banks in the Arab world. (File photo)
December 08, 2016 - 06:03 GMT
A consortium led by the Chairman of Arab Bank is expected to conclude the billion-dollar deal in January 2017.
OPEC and other producers meet again during the weekend to discuss the terms of last week's agreement from Vienna.
December 08, 2016 - 05:39 GMT
Oil prices retreated for the second day in partial response to statements from Iran's president that his country could sell as much oil as it sees fit.
The harsh current economic circumstances forced Al-Ahram printing services to raise costs as most of the materials used in the printing operation are imported and must be paid for in dollars. (AFP/File)
December 07, 2016 - 12:30 GMT
The decision to raise printing prices by up to 80 percent will have a catastrophic effect on Egypt's print media, some of whom have called on the government to lift customs duties related to the print industry.
Saudi Arabia features amongst the leading markets for air conditioners across the globe.(Shutterstock)
December 07, 2016 - 11:30 GMT
Demand for Saudi's HVACR (heating, ventilation, air-conditioning and refrigeration) goods and services is expected to grow, fuelled by the rise in the Kingdom's construction projects.
Saudi King Salman bin Abdulaziz attends the GCC summit on December 6, 2016, in the Bahraini capital Manama. (AFP/Stringer)
December 07, 2016 - 09:40 GMT
Issues of trade and security were the main topics of discussion between the British premier and the leaders of GCC member states during the 37th GCC Summit.
The People's Bank of China said the move was aimed at promoting trade and investment and maintaining financial stability in both countries. (AFP/File)
December 07, 2016 - 08:50 GMT
Egypt's central bank has signed a deal with the People's Bank of China for a three-year bilateral currency swap valued at 18 billion yuan.
Mines in Afghanistan are a major source of lapis lazuli and other gemstones. (Pinterest)
December 07, 2016 - 07:00 GMT
Exhibition Afghanistan, a five-day event aimed at promoting Afghan products and connecting buyers to sellers, kicked off yesterday in Dubai.
The UAE, specifically Dubai is aiming to become a global hub for the Islamic economy by 2020. (File photo)
December 07, 2016 - 06:16 GMT
Fitch Ratings reports that while Islamic financing growth has slowed, growth was still ahead of conventional banks and is likely to stay in single digits in 2016.
The cultural centre includes a performing arts centre, music centre,  concert halls, cinemas, conference centre, historical documents centre as well as libraries, parks, and fountains. (SSH)
December 07, 2016 - 05:40 GMT
The new facility is the cornerstone of Kuwait's new national cultural district and will will showcase performing arts and create a world-class theatre quarter.
The park will include 104,000 square feet of food and beverage space and 102,000 square feet of retail space and will be open 365 days a year.  (Nick Jr)
December 06, 2016 - 12:00 GMT
IMG Worlds of Legends will feature nine zones spread across more than 2 million square feet with global brand licensing from Ubisoft, Mattel, Nickelodeon, Saban Brands, Pokémon, Cartoon Network and more.
What suppliers thought were mid- and long-term strategies have now become quite questionable in light of political changes in the US and EU. (AFP/File)
December 06, 2016 - 11:00 GMT
A growing population in the GCC, coupled with stable industries and a stable currency will help attract more suppliers who may be looking to diversify their presence away from the US and Europe.
The study reveals that the workers in Luxembourg have the highest purchasing power, almost three times greater than those in Dubai. (Shutterstock)
December 06, 2016 - 10:00 GMT
UBS has released its 'Prices and Earnings' study showing how much purchasing power workers have in cities around the world.
Gold has brought about better returns than other major Sharia-compliant asset classes in recent times. (File photo)
December 06, 2016 - 09:00 GMT
Following consultations between the World Gold Council, Islamic scholars and and AAOIFI, standards have now been set by which financial institutions can apply Sharia principles in the direct physical handling of gold.
Budget airlines are playing an important role in strengthening the traffic in MENA. (File photo)
December 06, 2016 - 08:00 GMT
MENA is the only region to achieve double digit growth in passenger traffic for the last twenty-five years, and Arab airlines will need to boost their fleets to keep pace.