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Islamic finance organizations team up to streamline rule-making

Tuesday, 23 October 2018

The top two organizations that set the rules for Islamic finance signed an agreement on Tuesday to work together to develop and revise some of their guidelines, aiming to hasten standardization in the $2 trillion industry. Islamic finance is growing fast across markets in Africa, the Middle East and Southeast Asia, but it remains a fragmented industry with uneven implementation of its rules, which could stunt growth. The agreement signed between the Bahrain-based Accounting and Auditing ...

Saudi Arabia’s National Commercial Bank Q3 profit rises 10.2 pct

Tuesday, 23 October 2018

Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s largest lender by assets, reported a 10.2 percent rise in third-quarter net profit on Tuesday, helped in part by an increase in net special commission income and fees from banking services. The bank made a net profit of 4.70 billion riyals ($1.25 billion) in the three months to September 30, up from 4.26 billion riyals in the same period of 2017, it said in a bourse statement. SICO Bahrain forecast ...

Saudi Arabia sees deals worth $50 billion at investment conference

Tuesday, 23 October 2018

Saudi Arabia was set to sign deals worth $50 billion on Tuesday at the opening of an investment conference, top world bankers and company executives. Energy Minister Khalid al-Falih told a panel that the world’s largest oil exporter was passing through a “crisis of a sort” but would power ahead with economic diversification plans. Speaking at the opening session, Saudi businesswoman Lubna Olayan described the killing of the dissident Saudi journalist which has sparked a global ...

Saudi Public Investment Fund invested in 50-60 firms via SoftBank fund

Tuesday, 23 October 2018

Yasir Al-Rumayyan, the head of the Saudi Public Investment Fund, said during the opening session of the Future Investment Initiative that kicked off in Riyadh on Tuesday that around 10% of the kingdom’s sovereign fund assets are international assets while 90% were local, adding that the Fund aims to increase international assets to 50% by 2030. “In 2030, we want it to have 50% international assets and 50% local assets,” Rumayyan said. “We aim to diversify the economy ...

WATCH: Day 1 of Saudi Future Investment Initiative 2018

Tuesday, 23 October 2018

The high profile second edition of the Saudi Future Investment Initiative Forum (FII) – dubbed “Davos in the Desert” has kicked off on Tuesday in Riyadh with more than More than 150 speakers across 40 sessions and workshops. The FII forum will see an agenda program built around the latest global business, investment and technology trends, featuring over 120 speakers and moderators, in more than 35 sessions over 3 days. World leaders, investors and innovators will discuss the ...

Imran Khan at Saudi forum: Pakistan needs loans to overcome debt crisis

Tuesday, 23 October 2018

Pakistan Prime Minister Imran Khan said on Tuesday that the country was looking for loans to overcome its debts. Speaking at the Future Investment Initiative forum in Riyadh, Khan said he was hoping for loans from "friendly countries" and the International Monetary Fund. "What we are hoping is that we do a bit of both, get a loan from IMF and other loans from friendly governments," Khan told an audience at an investment conference in Saudi Arabia's capital, Riyadh. Khan, who ...

Saudi FII forum discusses global investment for ‘collective vision of future’

Tuesday, 23 October 2018

Saudi Arabia’s Future Investment Initiative forum kicked off on Tuesday with a panel discussion on global investments and embracing technology. WATCH LIVE: Saudi Future Investment Initiative 2018 Moderating the panel was Saudi Arabia’s Lubna Olayan, CEO of Olayan Group, who hosted Saudi Public Investment Fund head Yasir Al-Rumayyan, Khaldoon Al Mubarak, Group CEO of Mubadala Investment Company and Kirill Dmitriev, CEO of the Russian Direct Investment Fund in the discussion. ...

Top Riyadh hotels fully booked as Saudi Future Investment Initiative begins

Tuesday, 23 October 2018

Saudi media reports said a number of five-star hotels in Riyadh were fully booked for the period between October 23 and October 25 when the Future Investment Initiative will be held. Other hotels are about to be fully booked too, according to what Al Arabiya English checked online, indicating a heavy attendance at the conference. FOLLOW AL ARABIYA ENGLISH COVERAGE of #FII2018 Among the hotels that are fully booked are The Ritz-Carlton, Crown Plaza, Fraser Suites Riyadh and Hyatt Regency ...

Know what’s on today’s agenda at Saudi Arabia’s ‘Davos in the Desert’

Tuesday, 23 October 2018

The high profile second edition of the Saudi Future Investment Initiative Forum (FII) – dubbed “Davos in the Desert” is set to kick off on Tuesday in Riyadh with more than More than 150 speakers across 40 sessions and workshops. The FII forum will see an agenda program built around the latest global business, investment and technology trends, featuring over 120 speakers and moderators, in more than 35 sessions over 3 days. World leaders, investors and innovators will discuss ...

Second edition of Saudi Future Investment Initiative Forum kicks off in Riyadh

Tuesday, 23 October 2018

The high profile second edition of the Saudi Future Investment Initiative Forum (FII) – dubbed “Davos in the Desert” has kicked off on Tuesday in Riyadh with more than More than 150 speakers across 40 sessions and workshops. WATCH LIVE: Saudi Future Investment Initiative 2018 The FII forum will see an agenda program built around the latest global business, investment and technology trends, featuring over 120 speakers and moderators, in more than 35 sessions over 3 days. World ...

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