saudi mulls controversial decision to move
Saudi Arabia is considering changing its working week to Sunday through Thursday, to bring it into line with most of its Gulf neighbours, but is finding the move opposed by traditionalist clerics.
Middle East
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qatar plans to buy hedge fund managers
The Qatar Financial Centre has plans in place to buy hedge funds as part of a strategy to bolster the asset management industry based in the country.
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islamic banking assets in gcc jump
Islamic banking assets with commercial banks in the Gulf Cooperation Council region leapt 14% in 2012, paced by Qatar, according to Ernst & Young’s Global Islamic Banking Center.
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mondial launches indian jv with mumbai firm
Wealth management company Mondial has established a joint venture company in India with Mumbai-based Padmakshi Pvt, with the intention of accessing the burgeoning market for financial advice in the fast growing and increasingly wealthy country.
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2 million expats in saudi face losing
It is estimated that at least 2 million expatriates working in Saudi Arabia are at risk of losing their jobs, with about 250,000 companies yet to meet ‘Saudisation’ requirements “days before the deadline”, according to local media.
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saudi sedco launches islamic invst platform
Sedco Capital, the Saudi Arabia-based asset manager, has launched an investment platform of Sharia-compliant funds aimed at high net worth investors and institutional investors.
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standard chartered looks to
Standard Chartered Bank is to use Dubai as a hub to build on growing trade between emerging markets, with plans for more regional expansion in Africa and the Middle East, a top executive at the company has said.
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uae leads emerging market growth so far this year
The United Arab Emirates has been the top performing country constituent of the Russell Emerging Markets Index so far this year.
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kuwait cuts cap for expats allowed
Some 30,000 expatriates who work in Kuwait’s public sector stand to lose their jobs after the country’s parliament approved legislation capping the percentage of foreigners allowed to do such work, according to Gulf media reports this morning.
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invesco gulf intermediaries say eurozone
Optimism regarding global economic growth prospects has increased in the last year among Gulf intermediaries, but the Eurozone crisis remains a major concern for global financial markets, according to a poll carried out in Dubai last month by Invesco Asset Management.
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dubai based alpen receives saudi license
Dubai headquartered Alpen Capital has received a license from the Capital Markets Authority in Saudi Arabia to conduct “arranging” and “advising” activities in the country.
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jp morgan pb hires new head for middle east
JP Morgan has appointed a new head of its Middle East private banking team.