Wednesday, October 7, 2015

Second edition of Global Islamic Economy Summit held in Dubai

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Finance and Economy
Second edition of Global Islamic Economy Summit held in Dubai
The two-day summit will touch upon Islamic finance, halal industry, family tourism, Islamic knowledge, Islamic arts and design, Islamic digital economy and Islamic standards.
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Oman to sell first sukuk on October 8

The issue will be open to sophisticated investors – usually taken to mean fund managers, banks and other institutions, as well as wealthy individuals – with a minimum subscription of OMR500,000.
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Saudi Arabia to record a budget deficit of SAR573 billion: Fransi Capital
It is expected that Saudi Arabia will record a budget deficit of $350bn during 2016, based on the expected oil price of $55 a barrel.
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Energy
UAE to continue oil investments even as crude trades below $50
The comments come two days after Saudi Arabia's Minister of Petroleum and Mineral Resources, Ali bin Ibrahim al-Naimi, said his country would continue investing in oil and gas and that his country remained committed to energy resource development.
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Saudi Arabia remains China's top oil supplier

According to official data, trade exchange between Saudi Arabia and China amounted to a massive $69 billion in 2014, $20bn of which is the value of Saudi Arabia's imports from China.
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Iraqi MPs say increasing oil exports may not prop up economy
Moody's expects the Arab country's oil revenues to slide by 35 per cent this year compared with last year, sending the budget deficit up 18 per cent.
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Real Estate
Rent in Dubai declines in Q2

PropertyFinder's recent report points out that Al Barshaa, Jumeirah Lakes and Dubai Marina witnessed the highest rates of decline, with ten per cent drop in Al Barshaa.
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Saudi property market set to see gradual rebound
"Recovery in the property market will help other sectors, such as construction materials and financing institutions, to gain momentum and achieve growth."
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     News
VIDEO: Electronics manufacturers, retailers remain buoyant over UAE market
Plug Ins, the electronics and IT retail arm of Al Futtaim, in its "UAE Consumer Electronics" survey released two weeks ago showed that average spending on electronics stood at AED4,000 compared to AED4,793 in September 2014.
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Oman airports operator to set out ambitious expansion plan
Airport operator proposes to set aside 4,500 square kms near five local airports for long-term development of the aviation sector.
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Hotel occupancy rates at 61 per cent in Beirut last August
Abu Dhabi topped in the Ernst & Young report with the highest occupancy rate in four- and five-star hotels, which amounted to 76 per cent.
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VIDEO: HP showcases new PCs, printers at Dubai's GITEX Shopper 2015
HP is showcasing its new PC line-up, which includes the HP Pavilion x2, HP Spectre x360 and the 15.6-inch HP Pavilion notebooks.
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