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Dubai achieved goal to become capital of Islamic economy: Mohammed ISLAMABAD: Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has said that the first goal of the strategy launched two years ago to develop and promote Dubai as the global capital of Islamic economy has been achieved.Shaikh Mohammed hailed the achievement made by Dubai that has overtaken other financial centres in listing Islamic bonds on its exchanges. Shaikh Mohammed made these remarks as he chaired a meeting of the board of directors of Dubai Islamic Economy Development Centre, Khaleej Times reported."Islamic finance is the most important sector of Islamic economy and sukuk are one of the most important tools of this sector. Today we are the world's biggest centres for sukuk, but our vision is even wider and more comprehensive as it takes in seven major sectors of Islamic economy," Shaikh Mohammed added.Shaikh Mohammed added: "We want an Islamic economy that ...

Car bombs kill 11 in Baghdad at end of Ramadan fast BAGHDAD: Two car bombs killed 11 people in the Iraqi capital Baghdad on Saturday, police and medical sources said, striking as many people were ending their daily Ramadan fast.One bomb hit the mainly Shia Amil district in the southwest of the city around dusk, killing eight people and wounding 27. The other hit a bus garage in Doura in the south of the capital, killing three people.Northeast of Baghdad, in the town of Balad Roz, ...
Israel must tackle 'stubbornly high' budget deficit: IMF JERUSALEM: Israel's government needs to immediately address lowering the budget deficit or face a growing debt burden, the International Monetary Fund said on Wednesday. It expects a deficit of 2.75 percent of gross domestic product in 2015 and urged the government bring it down to 2.25 percent next year. "The fiscal deficit remains stubbornly high," the IMF said at the end of its week-long visit to Israel. "Current levels leave few buffers to deal with ...
Palestinians to submit first file to ICC next week JERUSALEM: The Palestinians will next week submit their first file to the International Criminal Court in their bid to open criminal proceedings against Israel, an official said on Thursday.The move is part of an increased focus on diplomatic manoeuvring and appeals to international bodies by the Palestinians, who have been frustrated by a lack of progress in ending the Israeli occupation and creating their own independent state. The file is to be handed to ICC ...
1,600 buses to transport 25mn worshipers in Makkah ISLAMABAD: Emir of Makkah Prince Khaled Al-Faisal has assigned five transport companies to temporally provide public transport services to about 25 million pilgrims and visitors to the Grand Mosque during the Holy month of Ramadan, which officially starts today (Thursday).The public transport vehicles are expected to make about 5 million trips during the fasting month.Prince Khaled asked the transport companies to facilitate the transportation of pilgrims so that they are able to perform their rituals ...
Al Qaeda in Yemen confirms leader killed in drone strike DUBAI: Al Qaeda in Yemen has confirmed the death of its leader Nasir al-Wuhayshi, number two in the global militants organisation, in a US drone strike, in a video statement posted online.Al Qaeda in the Arabian Peninsula said Wuhayshi "was killed in a US drone attack that targeted him along with two other militants," said the statement posted online by al Qaeda's al Malahem media arm and dated June 15. Copyright AFP (Agence France-Presse), 2015 ...
Obama poised to send more troops to train Iraqis WASHINGTON: President Barack Obama appears poised to approve the deployment of hundreds more US training personnel to Iraq, in a bid to reverse gains by the Islamic State group.Officials said Obama is considering authorizing an increase of under 500 troops to boost the capacity of the Iraqi army and tribal fighters."We are considering a range of options to accelerate the training and equipping of Iraqi security forces," National Security Council spokesman Alistair Baskey told AFP."Those ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln