economy

IDB will finance 12 new projects in Kazakh

15/09/2017

Kuala Lumpur – ASWAQ The Islamic Development Bank (IDB) will finance the realization of 12 new projects worth nearly US$1 billion in Kazakhstan. Islamic finance has become one of the rapidly growing industries of the world system with an annual turnover exceeding US$2 trillion. Kazakhstan is the only country in the CIS that uses the […]

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Malaysia to assist Madinah become Islamic civilization center

08/05/2017

Kuala Lumpur – “ASWAQ” Malaysia has expressed interest and voiced its commitment to participate in the development of Madinah as a new Islamic civilization center for the well-being of more than 1.2 billion Muslims throughout the world, said Deputy Prime Minister of Malaysia Ahmad Zahid Hamidi. For this purpose, Ahmad Zahid said that Malaysia has […]

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MATRADE Launches Malaysia-Turkey Business Club

08/05/2017

Kuala Lumpur – “ASWAQ”   The Malaysia External Trade Development Corporation (MATRADE) has launched Malaysia – Turkey Business Club (MTBC) to improve the communication channel between Malaysian companies and Turkish players. It was launched at a networking luncheon attended by both Malaysian and Turkish companies. MTBC, established as a non-governmental organization to support and represent […]

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GCC Single Market Predicted To Be World’s Sixth Largest Economy By 2030

08/05/2017

Dubai – “ASWAQ” The Gulf Cooperation Council (GCC) economies, when combined as a single market, could become the world’s sixth largest by 2030, from its current ninth position, according to EY’s latest Growth Drivers report. The size of GCC as one single market is similar to the size of Canada and Russia, and assuming it […]

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Muslims Worldwide Spent US$244B on Apparel in 2015

08/05/2017

Dubai – “ASWAQ” Muslims around the world are reported to have spent an estimated US$244 billion in 2015 on apparel, accounting for 13.56 per cent of the global Muslim consumer spending of US$1.8 trillion. Spending by the Muslim population on apparel is expected to increase to US$322 billion by 2018, with the Islamic economy growing […]

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World Bank cuts GCC growth forecast

03/05/2017

Dubai – “ASWAQ” The World Bank reduces its 2016 growth forecast for the GCC nations recently to two per cent amid low oil prices and budgetary spending cutbacks. The UAE is also said to be growing at a slower pace than predicted earlier. The GCC’s dimmer outlook was predicted as the bank downgraded its global […]

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Middle East gets new US$1b Online Shopping Platform

03/05/2017

Dubai – “ASWAQ” A new online retailer, Noon.com has recently been launched in the Middle East, with the aim of increasing online sales growth in the Middle East from 2 per cent of the total market (US$3 billion) to 15 per cent (US$70 billion) within a decade, as announced by Emaar Properties chairman Mohamed Alabbar. […]

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DUBAI, KAZAKHSTAN SIGNED MoU TO PROMOTE ISLAMIC ECONOMY

27/04/2017

Dubai – “ASWAQ” The Dubai Islamic Economy Development Centre (DIEDC) has recently signed a memorandum of understanding (MoU) with the Astana International Financial Centre (AIFC) to exchange expertise in the field of Islamic economy and finance, halal industry and human capital development. The MoU, signed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy […]

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Dubai remains big attraction for GCC investors

27/04/2017

Dubai – “ASWAQ” Dubai’s residential property market is still attractive to the Gulf Cooperation Council (GCC) investors despite the regional economic concerns, says Artar Real Estate Development, a Saudi Arabian developer establishing itself in the UAE property market. Dubai residential property is still seen as providing long-term financial security as the Dubai market is experiencing […]

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SMEs major contributors to Qatar’s economy

16/02/2017

Dubai – “ASWAQ” Small and medium enterprises are well known to be major contributors to any country’s economy, said the Deputy Prime Minister and Minister of State for Cabinet Affairs, H E Ahmed bin Abdullah bin Zaid Al Mahmoud who recently opened Qatar Chamber’s Second SMEs Conference, held under the auspices of Prime Minister and […]

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