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Abu Dhabi Islamic Bank PJSC has announced the resignation of its Chief Executive Officer has resigned adding that Chief Operation Officer (COO) will take over as caretaker, Bloomberg reports. The bank did not provide reasons for Mazin Manna’s resignation. Manna. Read more
Qatar’s authorities are seeking to raise as much as $4 billion from banks for the purchase of several British Typhoon fighter jets, Bloomberg reports citing sources aware of the move. The sum, according to sources who spoke to Bloomberg Read more
Doha-based news network al Jazeera has shed several jobs and emerged a number of departments as part of a restructuring program at the time the network faces regional boycott, Bloomberg reports. The New York-based media notes that dozens of departments Read more
Saudi Arabia’s top international investment figure Prince al Waleed Bin Talal has told Bloomberg he is planning multi-billion investments that could associate US companies. In an interview with the New York-based media few weeks after his release from the anti-corruption Read more
For its 2018 ranking of the World Richest Arabs, the US-based Forbes Magazine has not included Saudi billionaires in the wake of the November anti-graft purge, which saw dozens of Saudi business tycoons locked up for several months The 2018 Read more
Microsoft founder Bill Gates in an email to Bloomberg Monday dared to speak in favor of Saudi Prince Alwaleed bin Talal whom he called an “important partner”. Alwaleed has been detained along with 200 others in a corruption clean-up drive Read more
Ambitious Crown Prince Mohamed bin Salman (MBS) has told Bloomberg that his dreamed future artificial and internet connected city will not compete with regional and global hub Dubai but will rather complement it. Named Neom, a short form of Neo-Mustaqbal, Read more
President Donald Trump asked Saudi Arabia and the United Arab Emirates (UAE) to give up military action against Qatar, which has been embroiled in a diplomatic row with its Gulf neighbors, Bloomberg has learned. Two sources familiar with the US Read more
Qatar and the US finalized Wednesday a $12 billion military deal for procurement of F-15 fighters by Qatar amid the Gulf Crisis opposing the tiny Arab state to its regional neighbors led by Saudi Arabia. The deal, signed by US Read more
At the end of consultations with Bahraini authorities, the International Monetary Fund (IMF) has stated that “a sizeable fiscal adjustment is urgently needed to restore fiscal sustainability, reduce vulnerabilities, and boost investor and consumer confidence.” The warning comes as Manama Read more