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  • ‘Brexit’ move tips scale in GCC’s favor: report

    The UK’s impending historic withdrawal from the European Union (EU) is opening new opportunities for advancing the position of the Gulf Cooperation Council (GCC) as an economic powerhouse, casting the spotlight on the strong bilateral trade ties between the GCC region and the European island nation, according to a new report titled ‘UK’s EU Referendum: Why ‘Brexit’ Matters to the GCC.’

  • “America First, Protectionism First”

    The Trump effect is a speculative bubble, and as with all bubbles, it will finally burst when investors realise that the new President is unable to keep his promises. Until now, the most visible immediate effect of his victory has been the rise in interest rates (+50 basis points on US 10-year bond yield since November 8th). Investors have already anticipated that Trump's economic policy will be inflationist. However, market complacency is unjustified in view of the protectionist policies reaffirmed by the new President in his inaugural speech ("We must protect our borders from the ravages of other countries making our products, stealing our companies and destroying our jobs"..."Buy American and hire American"). The return to reality could well be brutal for investors, as within a globalised world, protectionism will be economically costly for a country putting it into practice on a large scale.

  • Al Ghurair International Exchange Joins Hands with Western Union to Facilitate Remittances to Billions of Bank Accounts in 51 Countries

    Al Ghurair International Exchange, the UAE-based foreign exchange and worldwide Money Transfer Company, announced its reach to over billions of bank accounts by joining hands with Western Union’s  account payout service which connects cross border consumers and eases the account credit facility with its fast, secure,  reliable and vast  global reach.

  • Gartner Says Worldwide PC Shipments Declined 4.3 Percent in Second Quarter of 2017

    Worldwide PC shipments totaled 61.1 million units in the second quarter of 2017, a 4.3 percent decline from the second quarter of 2016, according to preliminary results by Gartner, Inc. The PC industry is in the midst of a 5 year slump, and this is the 11th straight quarter of declining shipments. Shipments in the second quarter of this year were the lowest quarter volume since 2007.

  • GCC macro momentum losing steam, further rating downgrades expected

    Research by Fisch Asset Management, one of the world’s leading credit analysis and convertible bond specialists, has shown a clear slow-down across GCC money markets, with softening prices resulting from continued macro-economic uncertainty. Saudi Arabia, Oman and Bahrain have all suffered ratings downgrades since 2015. Meanwhile, Qatar and Bahrain have shown greater resilience.

  • Q2 Outlook : : Europe mispriced

    The greatest trades are those that take advantage of mispriced assets and illiquidity. As we head into 2017’s second quarter, it increasingly appears as if the European instability narrative may be overblown as the continent prepares to outperform a shaky, “Trump trade”-dependent US.

  • ROCCO FORTE HOTELS ANNOUNCES BOOST IN MIDDLE EASTERN OCCUPANCY AND VISITOR FIGURES TO ITS EUROPEAN PROPERTIES

    Rocco Forte Hotels, the family of 10 luxury properties in key destinations across Europe, has witnessed increased revenue from the Middle East during the past fiscal year.

  • UK/UAE treaty goes live, allowing UAE residents access to their UK pension free of income tax

    A new double tax agreement (DTA) between the UK and UAE, which goes live this week, has a surprising benefit that allows UAE residents to access their UK pension free of UK income tax, according to an expert at Old Mutual Wealth.

  • ‘aafaq Education’ partners with University College of Bahrain to support Islamic finance industry with elite human efficiencies

    aafaq Education L.C.C is a private company specialized in managing and investing in educational institutions recently entered into a strategic partnership with the University College of Bahrain to offer an Executive Master’s Degree in Islamic Finance in the UAE. The Memorandum of Understanding (MoU) was signed by Dr. Mahmoud Abdalaal, CEO of aafaq Islamic Finance, and Dr. Sheikh Khalid Bin Mohammed Bin Abdullah Al Khalifa, Founder and Chairman of Board of Trustees at University College of Bahrain, in the presence of senior officials and managers from both parties.

  • ‘aafaq Islamic Finance’ launches new Medical Equipment Financing product in UAE

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has introduced a new medical equipment financing product specifically tailored for the country’s small & medium enterprise (SME) market. The fully Shari’a-compliant product will be offered to doctors, dentists, diagnostic centers, hospitals, nursing homes, and other key health service providers. aafaq will use all available Islamic finance tools, to fund the needs of the healthcare sector’s experts.

  • ‘Al Masah Capital Limited’ rebrands ‘Healthcare MENA Limited’ to ‘AVIVO GROUP’

    ‘Al Masah Capital Limited’, one of the region’s leading alternative investment and asset management firms, has announced the rebranding of its healthcare private equity initiative, ‘Healthcare MENA Limited’ (HML), to ‘AVIVO GROUP’.

  • ‘International Innovative Platform for Islamic Economy Products 2015’ to kick off on Sunday

    The Dubai Airport Freezone Authority (DAFZA) and the International Centre of Islamic Economy (ICIE) have finished preparations for the kickoff of the ‘International Innovative Platform for Islamic Economy Products 2015’ (IIPIEP 2015) which will take place from November 22 to 23, 2015. The event is supported by the platform’s strategic partner Dubai Islamic Bank (DIB), and a number of prominent sponsors and are presented by National Commercial Bank (NCB), National Bonds Corporation, and the Saudi diversified manufacturing company SABIC. The two-day event will be held in conjunction with UAE Innovation Week that comes as a celebration of innovation in the UAE, in line with the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan to mark 2015 as the “Year of Innovation.” The UAE Innovation Week which was launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, will be organised from 22-28 November, and will serve as a definitive platform and destination for innovation and innovators in the region.

  • "BAIN & COMPANY STUDY FINDS SERVICES ARE KEY TO GCC INDUSTRIAL COMPANIES’ SUSTAINED GROWTH"

    In many industrial companies, services play virtually no role. Yet the service business is reporting growth rates up to 40 percent faster than sales of new products. What's more, the gross profit margin of services is on average a good ten percentage points higher. These are the conclusions from international management consultants Bain & Company in their latest study, “Winning in Industrial Services,” in which 45 industrial companies underwent an in-depth benchmarking analysis.

  • “aafaq Center for Research in Islamic Economy” to launch first Islamic Finance Encyclopedia & Directory in Arabic

    In line with the vision of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the Capital of the Islamic Economy, the “aafaq Center for Research in Islamic Economy” will launch the first ‘Islamic Finance Encyclopedia’ and ‘Islamic Finance Directory’ in Arabic, at the 2015 Global Islamic Economic Summit taking place from October 5 to 6, 2015 at Madinat Jumeirah, Dubai.

  • “aafaq Islamic Finance” conferred Business Excellence Award under Dubai Service Excellence Scheme

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has been conferred with the Business Excellence Award under the ‘Dubai Service Excellence Scheme’ category. The award ceremony was hosted by Dubai’s Department of Economic Department (DED), the government body entrusted to set and drive the emirate’s economic agenda, to benchmark quality and excellence for stronger business growth. The company received the ‘Best Service Performance Outlet Award’ for its Altwar center and Al Fujairah outlets. Aafaq recently launched the award-wining ‘Happy Customer’ initiative to ensure that each patron receives exceptional service for an unforgettable customer experience.

  • “aafaq Islamic Finance” signs strategic MoU with University of Bolton’s Centre for Islamic Finance

    Institute of Finance & Management subsidiary of aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently signed a Memorandum of Understanding (MoU) with the University of Bolton’s Centre for Islamic Finance, an initiative designed to facilitate research and promote the understanding of Islamic Finance through lectures, conferences and a joint professional certificate in Islamic Banking. The document was signed in London.

  • “Back to normal; really?”

    Global inflation is about to spike due to higher worldwide commodity prices, competitive devaluations (imported inflation) and, to a lesser extent, increasing property prices.

  • “Brexit increases uncertainty but unlikely to have significant long term impact on Dubai real estate market’

    JLL, the world's leading real estate investment and advisory firm, today has released its Q2 2016 Dubai Real Estate Q2 Overview report that evaluates the impact of Britain’s exit from the European Union on the Dubai Real Estate Market across office, residential, retail and hotel sectors. Dubai caters to the most open real estate market within the region and as a result is more susceptible to external factors. As Brexit brings slight uncertainty into the market, it was noted that in Q2 2016 rent values continue to face a downward slope in the office and residential sectors.

  • “Drake & Scull International” to Embark on a Series of Fixed Income Investor Meetings in the Middle East and Europe

    Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, and Oil and Gas, and wastewater treatment, announced today that it has mandated Emirates NBD Capital and HSBC as Joint Global Coordinators, and Al Hilal Bank, Emirates NBD Capital, HSBC and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed income investor meetings in the Middle East and Europe commencing on the 4th June 2015. An unrated USD Regulation S Senior Perpetual Sukuk offering may follow subject to market conditions.

  • “Sharjah FDI Forum” Gathers Investment Authorities to Highlight Top Trends Across Global Economies

    Organisers of the forthcoming Sharjah FDI Forum 2016, held under the generous patronage of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and hosted by the Sharjah Investment and Development Authority (Shurooq) in collaboration with Financial Times and fDi magazine, have highlighted the importance of the event to throw light on foreign direct investment and the global economy.