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Masraf Al Rayan reports 4.5% growth in H1 profit to QR1.07bn

Masraf Al Rayan reports 4.5% growth in H1 profit to QR1.07bn

Masraf Al Rayan has reported a 4.5% year-on-year growth in net profit to QR1.07bn in the first six months of this year.

ISDA recognises QFC as a ‘netting-friendly’ jurisdiction

ISDA recognises QFC as a ‘netting-friendly’ jurisdiction

The International Swaps and Derivatives Association (ISDA) has recognised Qatar Financial Centre (QFC) as an effective ‘netting regime’ and published a “positive” legal opinion, recognising the QFC as a ‘netting-friendly’ jurisdiction.

Iran asks Opec to keep oil output caps; Trump wants more supply

Iran asks Opec to keep oil output caps; Trump wants more supply

Iran demanded its fellow Opec members stick to crude production ceilings and defied the threats of Donald Trump as the US president targets its crucial oil exports.

Qatar’s Industrial Production Index rises 3.3% in May 2018

Qatar’s Industrial Production Index rises 3.3% in May 2018

Qatar’s Ministry of Development Planning and Statistics (MDPS) said that the Industrial Production Index (IPI) of the country touched 108.5 points for the month of May 2018, an increase by 3.3% compared with the previous month, and 4.7% higher when compared to the corresponding month of 2017.

Jetmakers see brisk start to air show as UK tries to soothe Brexit worries

Jetmakers see brisk start to air show as UK tries to soothe Brexit worries

Planemakers racked up more than $20bn of deals on the opening day of the Farnborough Airshow yesterday, suggesting demand for new passenger jets remains in rude health despite worries over trade tensions and Brexit.

Europe stock markets, dollar mixed as Trump meets Putin

Europe stock markets, dollar mixed as Trump meets Putin

Stock markets were mixed yesterday, with traders reacting to weaker Chinese economic data and upbeat earnings at Deutsche Bank.

Abraaj liquidator is said to prefer Cerberus Capital bid over Colony

Abraaj liquidator is said to prefer Cerberus Capital bid over Colony

Abraaj Group’s provisional liquidator prefers a lower offer from Cerberus Capital Management LP for assets of the embattled Dubai-based private equity firm over a rival bid from Colony Capital Inc, according to people familiar with the matter.

China GDP growth softens in Q2 as trade row stirs concerns on outlook

China GDP growth softens in Q2 as trade row stirs concerns on outlook

China’s economy expanded at a slower pace in the second quarter as Beijing’s efforts to contain debt hurt activity, while June factory output growth weakened to a two-year low in a worrying sign for investment and exporters as a trade war with the United States intensified.

LIC board okays 51% stake purchase in IDBI Bank

LIC board okays 51% stake purchase in IDBI Bank

The board of state-run Life Insurance Corporation (LIC) yesterday approved the acquisition of up to 51% stake in the government-owned IDBI Bank, Economic Affairs Secretary SC Garg said.

Pakistan lets rupee devalue as finances wobble before election

Pakistan lets rupee devalue as finances wobble before election

Pakistan’s central bank devalued the rupee for the fourth time since December, seeking to slow the depletion of its foreign-exchange reserves before a national election in nine days.

Pakistan province planning to build its own power distribution system

Pakistan province planning to build its own power distribution system

The Khyber Pakhtunkhwa province of Pakistan’s government has expressed concern over the weak power distribution system of the Peshawar Electric Supply Company (Pesco) in the province and has decided to have own transmission and distribution lines.

IMF warns of rising risks to growth amid trade tensions

IMF warns of rising risks to growth amid trade tensions

The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund said yesterday.

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