“Despite the efforts of Prime Minister Gordon Brown to appease the Shariah Jihadists and make London the Western capital of “Islamic finance,” many in the Islamic world remain hostile to Britain…” Gulf countries ‘must ease economic ties with UK’ By Habib Toumi, Bahrain bureau chief Published: November 13, 2008, 23:54 Manama: A controversial Bahraini […]
Part of the United Arab Emirates (UAE), Dubai may indeed have one of the fastest growing economies in the world, but there are some other things the mayor of Phoenix should know about the UAE: 1. The UAE was one of just three nations to recognize the Taliban regime in Afghanistan. The other two […]
This is an older story, but very relevant and timely considering Shariah Compliant Financewww.pbs.com http://www.adnkronos.com/AKI/English/Security/?id=3.0.2562368253 Many observers in the West, especially proponents of Shariah-Compliant Finance, like to point to the economic miracle of the UAE. What they don’t like to talk about is the fact that the UAE is a conduit for Jihad funding, […]
There is a great deal of propaganda claiming that Islamic states have been insulated by the global financial crisis due to sharia-compliant finance. This article tells a very different story. Gulf Citizens Beg for Bailout Amid Stock Rout: Week Ahead <http://www.bloomberg.com/apps/news?pid=20601087&sid=a76KB8XETuC4&refer=home>
As stocks slid Sunday in Kuwait, a group of investors showed up at the Seif Palace, where they were met by the police, and tried to demand government intervention. (Gustavo Ferrari/AP) Financial tempest spreads to the Gulf states By David Jolly Published: October 26, 2008 The global economic crisis extended its reach into the Gulf […]
The Middle East’s growing importance Posted: October 22, 2008, 9:13 PM by NP Editor Jack Mintz, international trade By Jack Mintz Canadians fully understand the deep economic relationship that our nation has with the United States and the gains that we achieve from trade with Europe and Asia. What is underestimated is the importance of […]
www.cnn.com Dow Chemical in the Middle East Launches Second Annual Young Arab Leaders Arab American Business Fellowship WEBWIRE – Monday, October 20, 2008 Dubai, United Arab Emirates (UAE) – Dow Chemical in the Middle East and Young Arab Leaders (YAL), the Middle East’s foremost development platform for business, public sector and civil society leaders, recently […]
Liquidity concerns could force UAE banks to merge Reuters Abu Dhabi: Speculation intensified on Monday that Abu Dhabi’s leading banks would face the first forced merger in the Gulf region due to the credit crisis as liquidity in the region tightened. Shares in Abu Dhabi Commercial Bank (ADCB) soared for the second day as investors […]
Gulf Shares Gain on U.S. Bank Rescue Plan; Emirates NBD Rises By Zainab Fattah Sept. 28 (Bloomberg) — Persian Gulf shares advanced after U.S. lawmakers said they made a breakthrough in talks on a $700 billion plan to revive the credit markets and as the United Arab Emirates’ central bank allowed lenders to withdraw 100 […]
The Wall street has been experiencing wreckage and financial turbulence due to incredible losses of some financial giants. The wreckage has also affected some stocks worldwide, including Dubai shares, which retreated for fourth day, with recorded loss of 1.7 percent. “While the UAE is open to foreign investments, financial crises in the West are not […]
In Dubai, where several Porsches, Hummers and perhaps a Ferrari can be spotted in the course of a short drive, it is difficult to imagine poverty – especially among the local Emirati population. The government provides its citizens with free housing, healthcare and education, and water and electricity are heavily subsidised. Compared with the travails […]
The somnolent atmosphere on the Abu Dhabi Securities Exchange trading floor belies the dire state of regional equity markets. Although most companies have reported healthy earnings in the past quarter, Gulf stock markets have plunged and all are firmly in the red. Saudi Arabia’s Tadawul All-Shares index, which tracks the performance of the largest Gulf […]
lender Tamweel’s deputy CEO detained By ADAM SCHRECK 09.09.08, 11:24 AM ET DUBAI, United Arab Emirates – Tamweel PJSC, the Emirates’ largest mortgage lender, said Tuesday its deputy CEO has been detained by Dubai authorities for questioning “in connection with an ongoing investigation.” The detention of Abdulla Nasser Abdulla, who also heads the four-year-old […]
ED – U.S. plans $7 billion missile-defense sale to UAE Reuters – Tuesday, September 9 (Corrects paragraph 3 to say Raytheon supplies the radar, not missile interceptors used with the system) By Jim Wolf WASHINGTON, Sept 8 – The Bush administration is planning to sell the United Arab Emirates an advanced U.S. missile defense system […]
09 September 2008 http://www.nointerest.ca/photos/advisory_board.jpg Shariah Scholars There was a certain amount of consternation in the international markets for Islamic bonds last week on the back of an agency article that suggested the bottom was falling out of the sukuk business and that this would impact on the big infrastructure projects where the UAE leads the […]
(Greedy, Greedy, Greedy $$$$$$) http://misc.mortgagebrokers.ie/images/blogimages/2008/march/iran_oil_bourse_2008.jpg A state of panic prevailed among traders today after all bourses declined sharply, except Muscat which rebounded by 2% after 9% loses last week. The rise in Muscat came after a recommendation by the minister of trade during a meeting with pension and investments funds in which he […]
The Kansas City Star Adidas shoe left; Payless shoe right. Collective Brands Inc. is entering its franchised expansion with a foray into the Middle East as it looks for global growth opportunities. The Topeka-based company, which owns and operates the Payless ShoeSource and Stride Rite chains, on Wednesday announced a multi-year agreement with M.H. Alshaya, […]
WAM His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, visited the Fujairah Naval Base on Monday. He broke his fast with the officers at the base. UAE strives for better demographic balance By Samir Salama, Associate Editor Last updated: September 02, 2008, 00:07 […]
By: Mike Gallagher The Emirates NBD merger did not set off the much anticipated wave of banking mergers that everyone expected, but is a slowing global economy and a saturated GCC banking sector about to push reluctant regional banks into each others’ arms? Will tough competition and narrowing margins force the hands of regional banks […]
Dubai Refreshments Co. Net profit announced for the 1st half of the year 2008, DH 4.19 million, an increase of 885%. Al Firdous Holding Co. Net loss announced for the 3 months ended 30/06/2008, DH 3.32 million. Islamic Arab Insurance Co. Net profit announced for the 1st half of the year 2008, DH 78.7 million, […]
Middle East tops the travel charts 15 August 2008 Celebrating its 250th anniversary in 2008, Cox & Kings has launched its new Middle East brochure for 2009, featuring a comprehensive programme of escorted group tours and private tailor-made travel to the Middle East, North Africa and Central Asia. The company has announced record figures to […]
Middle East investment in Brazil attracting attention Friday, 15 August 2008 Brazilian market sees Arab investment Brazil is attracting the attention of a number of leading Arab property investors and developers according to finance experts. Even though the share of Arab capital is still small compared with the total volume of foreign funds currently […]
Middle East top foreign investor in US property Wayne Arnold Last Updated: August 06. 2008 7:27PM UAE / August 6. 2008 3:27PM GMT ABU DHABI // The Middle East has overtaken the rest of the world to become the largest foreign property investor in North America this year, according to research from the US. Multimillion-dollar […]
SWATCH GROUP Aquires Stake in Rivoli Group The Swatch Group Ltd («Swatch Group»), the world’s largest watch manufacturer, has today announced the acquisition of an important stake in the Rivoli Group («Rivoli»), one of the leading lifestyle luxury goods retailers in the GCC (Gulf Cooperation Council) which operates over 245 retail outlets. The strong partnership […]
Financial Times The stove The stove http://www.sundaytimes.lk/080803/FinancialTimes/ft326.htmlhttp://www.sundaytimes.lk/080803/FinancialTimes/ft326.html Inventor of EZ Charcoal Stove says energy crisis blessing in disguise ByJagdish Hathiramani The stove Like a lot of his fellow Sri Lankans, Riyad Ismail believes that the future of the country depends on independence from the oppressive and nonsensical pricing of oil. Unlike them however, he […]
Emirates profits to tumble Anthony Richardson Last Updated: August 02. 2008 8:39PM UAE / GMT Emirates’ Airbus A380 touched down in New York on Friday, marking the first commercial arrival of the giant, double-decker passenger plane on US soil. Chip East / Reuters NEW YORK // Tim Clark, the president of Emirates airline, says he […]
HKS opens office in United Arab Emirates The architectural and interior design firm HKS Inc. has opened an office in the United Arab Emirates to serve clients in the Middle East and Northern Africa. The new office — located in the Al Bateen Tower in Abu Dhabi, United Arab Emirates — offers clients architectural, […]
UAE UAE Oil Minister-No joking! photo from www.cache.daylife.com The UAE will cut oil output by 150,000 to 200,000 barrels per day for 40 days in October and November for maintenance, reported Reuters, citing an official at state oil company Adnoc. The scheduled shutdown will reduce the country’s oil output by up to 7.5%. The UAE […]
Photo Courtesy of Middle East Online U.A.E. Official Attacks Zionism at Saudi Conference By JOSEPH GOLDSTEIN, Staff Reporter of the Sun | July 18, 2008 http://www.nysun.com/foreign/uae-official-attacks-zionism-at-saudi-conference/82164/ MADRID — The Saudi king’s talk of tolerance and moderation notwithstanding, the Jewish state is proving to be a divisive issue at the religious conference that the Saudi monarch […]
DUBAI, July 18, 2008 (AFP) – A state minister in the United Arab Emirates is to be tried on charges of breach of trust, fraud and abetting a crime in an unprecedented case in the Gulf country, newspapers reported on Friday. The unnamed minister of state and three alleged associates will go to court after […]
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