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March 1, 2015

calls for the US to tamper with Open Skies agreements with the Gulf nations are at odds with the stance of other major US companies that benefit from the pacts.
12:20 GMT
A push by three US airlines to curb competition from Gulf state carriers has exposed divisions over free trade with other powerful US aviation players.
According to auditing giant Ernst & Young, from 2009 up until 2013, Islamic banking assets swelled at a rate of 17.6 per cent per annum.
08:40 GMT
In a modern financial sphere governed by the forces of innovation, diversity and progress, brokers and banking institutions can afford no room for the absence of Islamic Finance.

February 26, 2015

US shale oil output growth is not expected to start slowing before the second part of 2015.
21:46 GMT
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
The bad news, however, is that the majority of the apartments are still offering higher rents compared to 2013.
21:13 GMT
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
Global oil prices have sat above $100 a barrel for the best part of the past five years, partly due to soaring demand from China.
20:36 GMT
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.

February 25, 2015

Chief executives say they are taken aback by the scale and speed of the cutbacks
19:25 GMT
Shale oil producers are throttling back so quickly on drilling that US crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Gulf rivals.
In our view, it is intended to mean the party engaged to build the works (i.e. the constructing contractor) and not a designer or supervisor.
19:11 GMT
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
It would mean that international buyers would have access to new sellers of energy that could be purchased at competitive prices and in turn drive down the price of Saudi Arabian oil.
09:47 GMT
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
To be just Sharia-compliant is not sufficient, and the strategies need to incorporate the emotional connections with consumers.
05:51 GMT
Themed "Internationalisation Strategies for Islamic financial Institutions," the meeting was attended by senior Islamic bankers and international experts from more than 15 countries.

February 24, 2015

 Eighty nine  percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life, out of which, 63.3 percent consider it ‘extremely important’,
21:16 GMT
Eighty nine percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life
At some of the leading shopping destinations, rental increases have shot up by an average 25-30 per cent on lease renewals,
21:00 GMT
With sector sales volumes dipping, new demands are placing an extra burden on them
Russia isn’t the first Muslim-minority country to venture into Islamic finance.
12:22 GMT
Russia plans to open its first Islamic bank this year, seeking to attract Shariah-complaint funds as international sanctions push the economy toward a recession.
The expenditure adjustments in the GCC countries as policy response to oil price decline are expected to vary depending on the relative fiscal health of individual countries .
07:56 GMT
While the current oil prices are below most GCC countries’ fiscal break-even point, governments generally have the resources to help mitigate the immediate impact and maintain a supportive operating environment for economies.

February 23, 2015

In general, Europe is entering a new phase of recession, and the instability and lack of economic growth is part of the current drop in oil prices, Al Hassani added.
20:08 GMT
Cyprus and Greece which are struggling following economic bailouts are looking to attract investors from the UAE.
A very small percentage of expatriates, working in managerial positions, are paid huge salaries but the vast majority is not.
19:44 GMT
The Labor Ministry has forced the minimum wage on the private sector to make sure that Saudis will not be exploited, the same should be done for expats.