Economy

IDB increases its capital from $ 45 bn to $ 150 bn
The Islamic Development Bank Group has decided to increase its authorized capital from $ 45 billion (30 billion Islamic dinars) to $ 150 billion (100 billion dinars) on the recommendation of the two...
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Kuwait Petroleum Company suspends top officials

Sunday 19 May 2013
KUWAIT CITY: State-run Kuwait Petroleum Company (KPC) appointed a new chief executive and suspended other top officials after the country paid $ 2.2 billion in damages to Dow Chemical Co.
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Haji Husein Alireza upbeat on SUV sales

Sunday 19 May 2013
Haji Husein Alireza & Co. Ltd. (HHA), sole distributor of Geely vehicles across the Kingdom, is all set to launch Geely’s SUV Emgrand X7 model into the Saudi market on June 11.
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UAE trade surplus to hit $ 90.7 billion

Sunday 19 May 2013
The UAE economy growth is expected to lower to 3.9 percent in 2012 after a solid 2011, when the GDP expanded 5.2 percent led by high oil prices and a 10.2 percent increa
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Keystone XL project ‘needs to go ahead’

Sunday 19 May 2013
NEW YORK: A controversial oil pipeline to the US Gulf Coast “absolutely needs to go ahead,” Canada’s prime minister said and he warned that the oil wil
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EU cites Huawei and ZTE for trade violations

Sunday 19 May 2013
NEW YORK: Europe’s top trade official for the first time officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp.
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KAEC sees huge influx of foreign investments

Sunday 19 May 2013
There is a huge influx of investments in business enterprises and industrial projects in the King Abdullah Economic City (KAEC), says a top official.
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Tejar Dubai hosts inaugural event to support SMEs

Sunday 19 May 2013
Tejar Dubai's first event to support small and medium enterprises (SMEs) was held on Thursday, with the participation of local talents who exhibited their skills in
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Qatari banks’ net profit rises to $ 4.4 billion

Sunday 19 May 2013
The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 percent in assets from March 2008 - March 2012 and another 20 percent in t
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IDB chief: Islamic banking not confined to Muslim communities

Sunday 19 May 2013
The global credit squeeze and recession have made many countries turn to the Islamic Development Bank more than ever to seek help in their development projects, says its
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Tadawul index surges over 1.1%

Sunday 19 May 2013
It turned out to be largely positive for investors yesterday, as Saudi Arabia’s benchmark stock index (TASI) recorded a handsome gain of 1.14 percent, which is the
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