UAE. The Islamic finance industry is pegged to grow at 15%-20% per year. 63% of Islamic finance institutions are in the Middle East, controlling more than 50% of Islamic banking assets.
These statistics were discussed at the recently concluded first ever Oman Islamic Banking Conference.
“Oman’s move to Islamic finance comes at just the right time as ethical finance gains a foothold around the world. The speakers illuminated a number of key aspects of the industry and question time after each presentation was lively as delegates delved deeper into the topic. We are proud to be supporting
INTERNATIONAL. The discussions on Syria come as Barack Obama is under increasing pressure from some U.S. lawmakers to do more to bring down Bashar al-Assad.
OMAN. "The Middle East and specifically the Gulf States are in a prime position to benefit from the current trends with energy intensive economies naturally turning towards the East while oil prices continue to rise and public expenditure reaching unprecedented levels."
OMAN. The Public Authority for Investment Promotion and Export Development (PAIPED) spearheaded the Sultanate of Oman's recent trade delegation to the 8th World Chambers Congress in Doha.
OMAN. Recent research has shown that revenues and occupancy for four and five star hotels increased significantly in 2012, driven by Omani rather than foreign guests.
UAE. Banking system is sound and has fully recovered from the spillovers of the global financial crisis; Gross foreign assets to exceed US$2.5 trillion by end-2013, reinforcing economic resilience if oil prices drop.
UAE. Middle East banks showing increasing confidence in expansion beyond domestic markets; High oil prices have helped banks in some parts of the Middle East to maintain high levels of liquidity.
UAE. The report ranks three GCC countries in the top 30 list globally, and another two in the top 40: Qatar (23), the United Arab Emirates (25), Bahrain (29), Saudi Arabia (31) and Oman (40), demonstrating that they continue to embrace ICT to boost their country's competitiveness.
UAE. A recent study by The Boston Consulting Group shows that Middle East banking revenues continued to grow at single digit rates in 2012 with a 6.9% increase, whilst profits increased by 8.1% due to an overproportional increase in extraordinary income; Increase in total LLPs driven by Saudi Arabia and Kuwait.
UAE. 55% of MENA residents believe business conditions will also become better, according to the latest MENA Consumer Confidence Index Survey conducted by Bayt.com and YouGov.
UAE. Stock market indices racing ahead but GDP figures do not support the euphoria and commodity outflows fuel the rally; Is there too much liquidity in the banking system?
UAE. While new orders continued to rise sharply, the rate of increase eased to the slowest in a year. Meanwhile, employment levels rose at the fastest pace in two years.
iNTERNATIONAL. Control over Homs will enable al Assad to rapidly move forces from the north to the south to meet emerging rebel threats. It will also provide a key avenue of retreat to the Alawite coast in the event that he needs to flee Damascus.
UAE. "There is a substantial amount of debt that is coming due in the next few years, and it will be important to manage pro-actively that process. Information and communication with potential market participants will be a key part of this."
UAE. "There is a substantial amount of debt that is coming due in the next few years, and it will be important to manage pro-actively that process. Information and communication with potential market participants will be a key part of this."
UAE. Experts address information security issues at Gulf Information Security Expo and Conference; Kevin Mitnick, hacker turned international cyber security guru, to deliver keynote address on the threat hackers pose to corporate security.
INTERNATIONAL. Nothing new is coming online anytime soon and movement on developing renewable energy resources has been sadly inadequate. The idea that shale reservoirs will lead the US to energy independence will soon enough be recognized as unrealistic hype.
UAE. "There is a substantial amount of debt that is coming due in the next few years, and it will be important to manage pro-actively that process. Information and communication with potential market participants will be a key part of this."
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