Saudi August bank lending growth slowest since 2011

JEDDAH: Growth in Saudi Arabia’s bank lending to the private sector slowed to an annual 8.4 percent in August, the lowest rate since June 2011, from 9.4 percent in July, central bank data showed.

Renaissance to sell Topaz Engineering for $18.5m

DUBAI: Oman’s Renaissance Services plans to sell Topaz Engineering Limited for $18.5 million to Chalmers Holdings, the company said.

Qatar money rates ease after central bank reassures on policy

DUBAI: Short-term Qatari money rates fell back on Sunday after the central bank governor signalled monetary conditions would not tighten and said Qatar would not follow the US in hiking interest rates

PetroRabigh to launch bid process for complex units

ALKHOBAR: Saudi Arabia’s PetroRabigh will launch the bidding process on Monday to build new units, including one to produce clean fuel, at its petrochemical and refining complex in Rabigh, it said.

Kingdom to convert real estate fund into bank

JEDDAH: Saudi Arabia plans to convert a state-owned housing fund into a bank, the latest in a string of reforms to the economic policy apparatus announced since January.

Oman to open subscriptions for first sovereign sukuk

MUSCAT: Oman will open subscriptions on Thursday for its first sovereign issue of Islamic bonds, taking a major step to develop its Islamic finance industry and giving the government a fresh channel t

Stay Connected