Friday 1 August 2014
 
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economy

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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Bahrain’s investor-friendly environment in focus

Bahrain’s progress in diversifying its economy and creating an investor-friendly environment will be the focus of a special publication by global publishing, research and consultancy firm Oxford Business Group.  

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ME to play key role in Taiwan growth

The Middle East region has a significant role to play in Taiwan's dynamic and export-driven economy, said a top official of the Asian country. With foreign trade a major thrust of Taiwan's development, the Middle East is w

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Bahrain's economy registers growth in Q1

Bahrain's real economic growth increased to 3.1 per cent in fixed prices and 1.4 per cent at current prices in the first quarter of the year, compared with the same period in 2013, a report said. The oil sector grew by 4.1 per

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Bahrain among most stable countries in Mideast

Bahrain has been named as one of the top five most stable countries in the Middle East in a worldwide ranking of nation states. The Fragile States Index, created by US-based research institute The Fund for Peace, assesses the pres

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