Wednesday 27 August 2014
 
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economy

GCC counties account for 90pc capital in Mena IPO

GCC countries had the largest share of initial public offering (IPO) listings in Mena, accounting for 90 per cent of the capital raised through IPOs in Mena in the first half of the year, with 10 IPOs raising nearly $2.1 billion. The GC

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Factory output boosts US economic outlook

US manufacturing output rose broadly in July and automobile production recorded its largest increase in five years, boosting the economy at the start of the third quarter. While other data on Friday showed some cooling in factory

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Saudi economy to grow 4pc this year

Saudi Arabia’s economy is set to grow four per cent this year as its real GDP growth will remain at 3.8 per cent, said a report. The Bank of America Merrill Lynch’s Mena Equity Strategy report pointed out that this &ls

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Bahraini students inject $13.5m into US economy

As many as 459 Bahraini students studying in US universities and colleges have contributed $13.5 million to the US economy during 2012-2013. These estimates are from Carian College Advisors, an education consultancy specialising in US A

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US economy back on track with strong Q2 rebound

The US economy rebounded sharply in the second quarter as consumers stepped up spending and businesses restocked, putting it on course to close out the year on solid footing. Gross domestic product expanded at a 4.0 per cent annua

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Argentina fails to reach debt agreement

Argentina has defaulted on its debt after talks with holdout creditors broke down on Wednesday. As the clock ticked toward a midnight (0400 GMT) deadline, Economy Minister Axel Kicillof stuck firmly to the government line, repeate

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Saudi economic growth forecast to hit 4.6pc

Saudi Arabia's economy is likely to grow 4.6 percent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund said. "Private sector growth is expecte

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Growing popularity of Islamic finance underlined

Dubai Chamber of Commerce and Industry underlined the growing popularity of Islamic finance over the conventional sector in a preparatory report for the 10th World Islamic Economic Forum (WIEF) to be held in Dubai from October 28-30.

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Islamic economies 'set to cross boundaries'

Islamic economies are already a significant part of the global economy and are set to become even more important over the next decade, a senior banker has said. Contrary to popular belief, the Islamic economy is more than just Isl

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Qatar posts solid growth in Q1

Qatar’s economy accelerated in the first quarter, driven by strong growth in construction, financial services and trade, restaurants and hotels, said a report. Qatar real GDP growth accelerated to 6.2 per cent in the year to

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