Economy






SAMA unveils new rules for consumer lending

JEDDAH: Saudi Arabia’s central bank has published new consumer lending regulations which give it the power to cap retail lending at individual banks and limit the fees that banks can charge.



Advance of Saudi stock market slows

JEDDAH: Saudi Arabia’s main stock index, which has been in an uptrend since the Kingdom’s regulator said in July it would open the market to direct foreign investment early next year, added just 0.04




IFC invests in infrastructure and essential services across the Middle East

IFC, a member of the World Bank Group, has ramped up its investments in vital infrastructure throughout the Middle East and North Africa over the past 12 months, focusing on the energy sector.



Vijay Mallya declared ‘wilful defaulter’

MUMBAI: The United Bank of India declared flamboyant and indebted tycoon Vijay Mallya a “wilful defaulter,” dealing another blow to his embattled Kingfisher Airlines.




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