Finance and Economy

Related Content

Business and Finance (video)

Saudi foreign assets may hit $878bn
A report by Tanmiyat Investment Group has predicted that Saudi Arabia's foreign assets could double to $878bn by the end of 2010, fuelled by fiscal surpluses from the past oil price rises. During August, assets controlled by the Saudi Arabian Monetary Agency gained an average of SR2bn per day.
Saudi Arabia: Sunday, December 14 - 2008 at 14:26

Saudi stocks gain
Saudi Arabian stocks gained as the bourse reopened following the Eid Al Adha holidays. The benchmark Tadawul All Share Index advanced 190, or 4.1%, to 4,844, as 121 stocks increased, one declined and four were unchanged on the first day of trading since December 3. Saudi Basic Industries, rallied 9.4% to 58.25 riyals.
Saudi Arabia: Sunday, December 14 - 2008 at 13:23

Oman, Libya launch joint finance venture
Oman and Libya have signed a $500m deal to establish a joint investment company to be based in Tripoli. The company will invest in economic, real estate, tourism, industrial, services and energy projects and will also set up joint stock companies to undertake different projects.
Oman: Sunday, December 14 - 2008 at 10:11

Dubai non-oil trade up $59bn
Dubai's international non-oil based trade rose by 44.5% in the first nine months of 2008 compared with the same period last year. The figures include trade through the emirate's free zones and customs depots, and show an increase totalling $59bn.
United Arab Emirates: Sunday, December 14 - 2008 at 09:44

Egyptian Exchange uses new trading system
Nasdaq OMX Group, Inc. and the Egyptian Exchange (EGX) have launched a new trading system for EGX. The trading engine from Nasdaq OMX replaces EGX's previous system. The new system has larger capacity and a fully integrated trading platform, capable of handling equities, debt, ETFs, futures, options, swaps and derivatives on a single platform.
Egypt: Saturday, December 13 - 2008 at 13:17

Minor job cuts for Shuaa
Shuaa Capital has announced 21 of its staff, representing 9% of Dubai-based employees are affected by the new realignment of its cost. However, the company assured profits are expected in 2009 and the reduction and reallocation of staff will have no impact for its client.
United Arab Emirates: Saturday, December 13 - 2008 at 09:47

UAE stocks gain slightly
The Dubai Financial Market on Thursday rose 0.63% to close on 1,987. Market heavyweight Emaar rose 3.69%, while Arabtec fell 3.72%. In Abu Dhabi, the ADX nudged up 0.09% to end the day on 2,756. The National Bank of Abu Dhabi fell 8.24% to close on Dhs9.18.
United Arab Emirates: Thursday, December 11 - 2008 at 14:56

Iran's inflation rises 28.3%
Iran's inflation climbed 28.3% in the 12 months through November, dipping from 29.5% in the year to September, reported Reuters, citing a statement issued by Iran's central bank. The bank did not give a figure for October in its statement. Consumer prices in Iranian cities rose by 0.8% in the Iranian month that ended on November 20, leading to a year-on-year rate of 28.3%, the bank said.
Iran: Thursday, December 11 - 2008 at 14:02