Sunday 21 October 2018 \

 

Economy

Metro project to bring Riyadh on par with world’s great cities

Source : Arab news / 23 Sep 2014

The $22.5 billion metro project — called King Abdulaziz Project for Riyadh Public Transport — is a linchpin of the Saudi capital’s modernization program. It will be the backbone of the Saudi capital’s public transport system and a key component of growth.

 

Spending by Muslim population on clothes to rise to $322b by ’18

Source : SaudiGazette / 22 Sep 2014

There is a huge gap in the global Islamic clothes, fashion and design market in the absence of major Islamic brands capable of meeting the requirements of the Muslim population, especially women, a research note by Dubai Chamber of Commerce and Industry based on a study by Thomson Reuters revealed.

 

90% of Gazans live below poverty line, 95% of water undrinkable

Source : MiddleEastMonitor / 20 Sep 2014

Head of the Popular Committee against the Siege Jamal Al-Khodari has described living conditions in the Gaza Strip as "disastrous" after the latest Israeli war.

In a briefed press release, Al-Khodari said that more than 90 per cent of Palestinians in Gaza live under the poverty line because of the sharp increase of unemployment rates.

 

Lotus Halal ETF and the rising profile of islamic finance in Nigeria

Source : BusinessDayOnline / 18 Sep 2014

Lotus Halal ETF, a non-interest capital market product which tracks the NSE Lotus Islamic Index (NSE-LII) was launched back in August.

The NSE-LII index tracks the performance of 15 Sharia-screened equities listed on the stock exchange. Some of companies comprised in the index include Cadbury Nigeria, Dangote Cement and Unilever.

 

Turkey to develop economic relations with Russia amid sanctions

Source : AA / 17 Sep 2014

Turkey is to increase its exports to Russia in the face of toughened Western sanctions against the country over the Ukrainian crisis, Turkey's Economy Minister Nihat Zeybekci has said.

 

IAEA needs €1 million to monitor Iran nuclear deal

Source : Itar-Tass / 17 Sep 2014

The International Atomic Energy Agency (IAEA) will need an additional €1 million ($1.3 million) to continue the effort to control Tehran’s nuclear program, the director general of the UN nuclear watchdog said Monday.

 

Russia, Iran plan to use national currencies in bilateral trade

Source : Itar-Tass / 10 Sep 2014

Russia and Iran plan to use their national currencies in bilateral trade, Iranian Minister of Petroleum Bijan Namdar Zanganeh said on Tuesday.

“Trade will be organized on the basis of our currencies,” he said after the 11th meeting of the Russian-Iranian intergovernmental commission.

 

UAE tops economic rankings in the Middle East

Source : Al Arabiya / 08 Sep 2014

The United Arab Emirates landed at the top of Middle Eastern countries in the World Economic Forum’s 2014-15 Global Competitiveness Report, in one year jumping seven spots to 12th place globally and coming in ahead of Qatar, which took 16th place.

 

Palestinian economy stagnant under Israeli occupation

Source ; Ahram / 04 Sep 2014

Palestine's current economic situation is bleak and needs significant policy change from Israel and financial assistance from the international community to begin improving, the United Nations Conference on Trade and Development (UNCTAD) announced at the launch of its annual report on its assistance to the Palestinian People on Wednesday.

 

Malaysia set to become global halal hub by 2020

Source : TheMalayMailOnline / 03 Sep 2014

Malaysia is in a strong position to become the global halal hub in 2020 with almost 4,500 companies having the halal certification in the country as of March this year. Sabah’s Assistant Industrial Development Minister Datuk Bolkiah Ismail said the figure was a 35.5 per cent increase over the 3,319 companies during the same period last year.

 
 

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