Sunday 19 April 2015
 
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Saudi stocks jump on market opening to foreigners

Saudi Arabia's bourse surged in early trade on Sunday after the regulator said it would open the bourse to direct foreign investment from June 15. The main index rose 3.9 per cent to 9,614 points, breaking minor technical resistance at the late March high of 9,377 points and

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New Zealand PM to lead trade mission to UAE

New Zealand Prime Minister John Key will lead a business delegation to the United Arab Emirates on  April 26. “The visit is an opportunity to strengthen and grow trade and business links between the United Arab Emirates and New Zealand. A key priority for me will be ta

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Bahrain bank offers $100m for women’s projects

Bahrain Development Bank (BDB) has allocated $100 million for HRH Princess Sabeeka bint Ibrahim Al Khalifa's portfolio for supporting women's trade activities, said a top official. Secretary-General of the Supreme Council for Women (SCW) Hala Al-Ansari was speakin

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Arab fund, World Bank in pact to boost finance sector

The Arab Monetary Fund and the World Bank Group (WBG) yesterday (April 18) signed an enhanced partnership framework to support countries in the Arab region in developing their economies and financial markets. This initiative will include collaboration on joint strategies for prom

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Bahrain imports up 15pc in March

Bahrain's overall imports soared by 15 per cent last month compared with January and February, a report said. National origin exports registered an increase of 15 per cent in February compared with January, but remained stable last month, according to the report in the Gu

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Iranian banks to cut rates after inflation plunge

Iranian banks agreed on Saturday to cut deposit and lending rates, the head of Iran's largest commercial bank said, after a sharp fall of inflation gave policymakers more room to pursue faster economic growth. "The directors of state and private banks today agreed...to r

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Oman sees big surge in Islamic deposits

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk). Oman was the last country in the

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GE posts $13.6bn loss on finance sale charges

General Electric has reported a $13.6 billion first-quarter loss on charges from its plan to sell most of GE Capital as profits rose in four of seven industrial businesses. The big loss had been expected after GE said a week ago that it would take about a $16 billion charge due t

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G20 upbeat on over global growth outlook

The Group of 20 leading economies struck a hopeful tone on the outlook for global growth on Friday, even as officials fretted that Athens' inability to strike a deal with its lenders could upset Europe's tentative recovery. In a communique after a two-day meeting, G20 fin

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Qatar to issue licence for new businesses on same day

Qatar has passed a new law that will enable a business licence to be issues the same day it is applied on, helping to attract more foreign investment, according to a report. The law, which will be implemented after being published in the official gazette soon, will give existing

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