Complex Made Simple

Daily brief: Driverless cars in Dubai, oil stable but market remains bloated

Tesla driverless car, Model S, was filmed on the roads of Dubai, signalling the arrival of such futuristic cars to the emirate. Here are the top seven business stories you need to know today.

Islamic finance body drafts new standard for centralised sharia boards

A global body for Islamic finance has issued a draft standard on centralized sharia boards, aiming to improve corporate governance in the industry and increase the consumer appeal of sharia-compliant financial products.

Political risks weigh on euro, yen gains: Forex

The euro fell another third of a per cent against the dollar on Wednesday, as concerns around a resurgence in political risk to the single currency project drove its worst run of daily losses in almost two months.


Turkey’s central bank seen staying difficult course until inflation peaks

Turkey’s central bank will stick with unorthodox measures to keep borrowing costs at five-year highs at least until inflation peaks this year, according to people familiar with its thinking, despite sharp criticism from investors.


(Halic Leasing widens Turkey’s Islamic finance market)


Oil stable after drop in US gasoline stocks, but market remains bloated

Oil prices stabilised on Thursday, boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remained under pressure.


(Qatar says oil market can cope with higher shale output)


Dollar down as US Treasury yields fall: Forex

The dollar fell on Wednesday after two days of gains, pressured by the decline in US Treasury yields as investors have priced out a March rate hike by the Federal Reserve amid uncertainty about President Donald Trump’s economic policies.


Driverless Tesla car hits Dubai roads

The Dubai Media Office tweeted a video of driverless Tesla Model S on Dubai roads. Elon Musk, co-founder and CEO of Tesla, was earlier announced to attend an announcement being made in the emirate of Dubai on Monday, February 13.


(VIDEO: 5 ways UAE transportation will change by 2020)


Global market environment positive but Air Arabia may slump on loss

Gulf stock markets may generally have a firm tone on Thursday because of a positive global environment, but Air Arabia may slump after reporting a surprise loss for the fourth quarter.