As is all too often the case, here we have another former Western elected official shilling for the Saudis. Lest you think this is a phenomenon unique to Great Britain, keep in mind that just about every former US ambassador and CIA station chief in Riyadh ends up on the Saudi payroll at some point. […]
In what is a clear case of prostitution to attract Islamic petrodollars, Hong Kong is issuing another Sukuk… Hong Kong SAR has set final price guidance at US Treasuries plus 25bp area (plus or minus 2bp) for a US dollar five-year sukuk, according to a lead manager. The new price compares with initial guidance of […]
For centuries, Hong Kong has been a center of worldwide commerce. Unlike most other such financial centers, Hong Kong has been slow to embrace Shariah Finance. http://www.scmp.com/business/money/markets-investing/article/1535235/islamic-finance-still-pipe-dream-hong-kong
The Financial Jihad Comes to Hong Kong
Hong Kong seeks to attract a larger share of the Shariah-compliant finance market and is adjusting regulations to accommodate Shariah… http://www.scmp.com/business/money/markets-investing/article/1381481/hong-kongs-islamic-finance-goal-boosted-basel-iii
There is evidence the government of China tried to cover up a 2005 meeting it had with top-Israeli officials about terror financing passing through the Bank of China… http://www.jpost.com/International/NY-court-transcript-China-may-have-covered-up-2005-meeting-to-preventIsraeli-testimony-in-terror-finance-case-320848
Iran and Communist China are major trading partners. China acquires oil from Iran and Iran buys all sorts of weapons from China. Sanctions have been crafted by the international community to attempt to pressure Iran for its nuclear program, but the Iranians and the Chinese have found “creative” ways to bypass those sanctions. The latest […]
Malaysia is doubtless a center of Shariah Compliant Finance, certainly the leader in Asia and the Pacific Rim. One of Malaysia’s largest Shariah banks is Maybank Islamic. Maybank Islamic is making moves to become a global force for Shariah. They are setting up shop in neighboring Singapore and Indonesia, but also have their sights set […]
We suppose that when you live under an atheist, communist system, it makes no difference to you whether the food is halal or haram. Add in a dash of capitalism and presto! You get a foothold for Shariah-compliance in a city-state with virtually no Muslim population. Such is the nature of the petrodollar driven Islamic […]
Hong Kong moves to become “hub” for Shariah Finance
Hong Kong has long been a major international financial center. When Communist China took over Hong Kong at the close of the 1990s, many observers feared that Hong Kong would withdraw from the capitalist world. Fortunately, those fears have proven largely unfounded. But now, Hong Kong appears to be taking a major step backward in […]
Typical Propaganda on Islamic Bonds from Saudi State-Controlled Media
The article linked below has to be taken with a large grain of salt since it comes from the Saudi Gazette. There is nothing even resembling a free, independent press in Saudi Arabia and the Saudi royals have a huge vested interest in promoting Shariah-Compliant Finance both in the kingdom and globally. Not surprisingly, this […]
Bahrain-based Shariah Bank Cuts Size of Sukuk Offering as Costs Rise
Bahrain’s Albaraka Banking Group reduced the size of a scheduled March sukuk (Islamic bond) offering to $250 million-$300 million from the planned $500 million, its Chief Executive Officer Adnan Ahmad Yousuf announced. The cost of borrowing through sukuk has risen since anti-government protests began in Egypt two weeks ago on concern political instability may spread […]
It seems that China’s rail project in Saudi Arabia to provide modern transportation to Hajj pilgrims has turned into a boondoggle of major proportions… http://www.theage.com.au/business/china-inc-goes-off-the-rails-in-saudi-arabia-while-building-mecca-monorail-20101115-17ud1.html?
China Railway expects a loss of 4.15 billion yuan from the Mecca light rail project, 3.605 billion of which it will book in the third quarter of 2010, materially affecting earnings. http://www.bloomberg.com/news/2010-10-25/china-rail-expects-loss-of-4-15-billion-yuan-from-mecca-light-rail-project.html?
The Fall of Hong Kong, 2009
Hong Kong will sign a memorandum of understanding with Malaysia at the end of the month to pave the way for Islamic financial business, said Secretary for Financial Services and the Treasury Ceajer Chan Ka-keung. http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=89604&sid=25808987&con_type=1&d_str=20091023&fc=8
It was bound to happen. Shariah-Compliant Finance is spreading to the four corners and it was inevitable that one of the world’s largest and fastest growing markets, China, would be included. The spread of Shariah-Compliant Finance has been made all the more inevitable by the fact that China is now the second largest importer of […]
The latest fallout from a combined Manhattan District Attorney and Treasury Department investigation has settled on a Red Chinese firm and several Iranian firms, with some useful idiots in the form of Western banks stuck in the middle. The last time this investigation erupted was when Bank Melli, the world’s largest Shariah-Compliant financial institution, was […]
The Bankruptcy of Islamic Law By Joseph Klein www.current.com FrontPageMagazine.com | Monday, October 20, 2008 Some Islamic leaders have loudly proclaimed that the current economic crisis proves the superiority of their religion and way of life over capitalism and liberal democracy. As usual they are in a complete state of denial about the […]
Wary of Islam, China Tightens a Vise of RulesThe largest Mosque in China. Photo courtesy of www.broadstreet.blogspot.com * By EDWARD WONG Published: October 18, 2008 KHOTAN, China – The grand mosque that draws thousands of Muslims each week in this oasis town has all the usual trappings of piety: dusty wool carpets on which […]
China fourth trade partner of Algeria Algeria main destination of Chinese investments in Middle East and North Africa China became the fourth largest trade partner of Algeria, after the U.S, France and Italy. A report released by the World Bank, has shown that China focuses its trade efforts on the Middle East, and […]
http://tinyurl.com/5aqho8 Sinopec Said To One-Up ONGC For Imperial Energy The Chinese state-owned refiner is reported to have trumped the bid of its Indian counterpart for the Russia-focused U.K. oil company. Click the link below to read the full story: Registration may be needed…… http://www.forbes.com/2008/08/04/imperial-energy-sinopec-markets-equity-cx_vk_0804markets03.html?partner=alerts
Iran, China to Cement Cooperation http://tinyurl.com/65fcu6 http://english.farsnews.com/newstext.php?nn=8705071102 TEHRAN (FNA)- The attachments of the contract between Iran’s Pars Oil and Gas Company and China’s CNOOC (China National Offshore Oil Corp.) to exploit the North Pars gas field were finalized, Pars Oil and Gas Company’s managing director said. “Along with our negotiations with SINOC Group, we are […]
zoom TUNG: The fund has been created in response to demand from investors in the UAE and Pakistan. Hong Kong-based Mayfair Pacific creates US$300m Shariah compliant mutual fund to capitalise on region’s rapid growth. Rapid growth and economic development make China an attractive destination for investment, but until now it has been extremely difficult to […]
<!–Section Title BUSINESS–> By ARTHUR MACDONALD http://www.gulf-daily-news.com/story.asp?Article=222475&Sn=BUSI&IssueID=31110 MANAMA: Bahrain-based Arcapita Bank has taken its first step into the Chinese market in a $2 billion joint venture to develop wind farms. It has formed a partnership with Colossus Holdings, a Singapore-based holding company of the Tanti group, a multi-billion Indian conglomerate, which will invest $2bn […]
By Ben Blanchard Reuters Sunday, July 6, 2008; 8:06 PM KASHGAR, China (Reuters) – In a backstreet of the old Silk Road city of Kashgar, the Chinese government has been spray-painting signs on dusty mud brick walls to warn against what it says is a new […]
Mon, 16 Jun 2008 20:26:22 The US says it is uneasy about the strong trade ties between Iran and China, claiming it will weaken the effect of sanctions on Tehran. “This is not a time for business as usual with Iran, this is a time to demonstrate to Iran that they are hurting their […]
By Jianjun <http://www.jamestow n.org/china_ brief/analysts. php?authorid= 332> Tu In recent years, oil product shortages in China have frequently caught the attention of the world. In August 2005, China’s southern manufacturing heartland of Guandong was plagued by closed service stations, fuel rationing and hours-long gas queues, and authorities were forced to send thousands of police to […]
Rania Abouzeid http://www.thenational.ae/article/20080604/BUSINESS/171492368/1118&Profile=1118 Last Updated: June 04. 2008 11:52PM UAE / June 4. 2008 7:52PM GMT The fast-growing economic relationship between the two regions has largely been fuelled by oil imports out of the Gulf, and Chinese electronics and home products moving in the opposite direction. AP DUBAI // Dubai will host its second […]
Wednesday » May 7 » 2008 Censorship, China and shariah law Celebrated author covers wide range of topics http://tinyurl.com/3jgqtj Paul Gessell The Ottawa Citizen Wednesday, May 07, 2008 The Tulip Festival showcased the western world’s most famous victim of censorship yesterday, a day after the annual springtime event was itself accused of censorship. Salman Rushdie, author of The […]
Dubai-China trade jumps to 19.4 bln dlrs http://afp.google.com/article/ALeqM5ig3R2Bq5rALIPsN6FmqsbZh8-e-g DUBAI (AFP) — Trade between China and the Gulf emirate of Dubai jumped to 19.4 billion dollars in 2007, almost all of it in imports from Beijing, according to figures released in Dubai Saturday. The figures compiled by government conglomerate Dubai World showed that exchanges rose from […]
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