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Oman’s banking sector is expected to register a significant growth in the Islamic banking sector by 2020 according to the chief executive officer of Bank Nizwa Dr Jamil El Jaroudi. Islamic banks have registered important growths against conventional banks in Read more
Algerian dinar currency has slumped against the U.S. dollar and the Euro, hitting the bottom due to the fall by 50 pc in the oil revenues, triggering international concerns over the financial & political stability of the North African country. Read more
The Emirate of Dubai, known for its scorching temperatures like most of the Gulf countries, has unveiled plans to build the world’s largest indoor ski resort to cost US $6.8 Billion. Dubai, which has already an indoor ski resort boasting Read more
Italian Foreign Minister Paolo Gentiloni and Minister of Economic Development Federica Guidi together with senior officials of different industries in Italy were in Tehran on Tuesday on an official visit with one of the major highlights being the signing of Read more
Arab Tourism Organization (ATO) is holding an exceptional regional forum in the city of Taif Tuesday to develop a joint strategy for security training that will help address security concerns impeding the tourism industry in the Arab world. The three-day Read more
The seventh and final review of Jordan’s economic program supported by a Stand-by Arrangement (SBA) has come to an end after the International Monetary Fund Executive Board concluded that the country was able to resist to “severe external shocks” with its reforms. Read more
The UAE Central Bank indicated Monday that the government will reduce its spending due to slash in oil prices on the international market and will adopt drastic measures to avoid an acute deficit but announced that the country’s economy would Read more
The latest quarterly review released by the Economic development Board (EDB) showed that Bahrain’s efforts to diversify its economy are proving positive after figures showed that its non-oil economy surpassed expectations after it expanded by 5% in the first quarter. Read more
Bahrain seems to be running out of fish as its fishermen continue to cross into territorial waters of neighboring countries to fish especially when they have low catches. President Jassim Al Jeran of the Professional Fishermen’s Society said that the Read more
The Iraq government and the World Bank signed on Sunday an agreement allocating the Iraqi government $350 million loan destined for rebuilding cities taken back from ISIL. The Word Bank loan will help the Iraqi government, which is facing an Read more