UAE sets the pace in regional private wealth

The UAE will lead the growth in regional private wealth over the next five years, according to a report from The Boston Consulting Group (BCG).

Gateway agrees £17.92 million sharia compliant investment

Gatehouse, a UK based wholesale investment bank operating in accordance with Sharia principles, has announced the completion of their terms for the financing of the Blakelands Industrial estate, located in the Milton Keynes.

Islamic banking growing faster than conventional banks, says report

For years, Islamic banks have been growing at a double digit pace. But according to a recent report, this is two to three times faster than the rate at which conventional banks have grown over the same period, due in part to the global financial crisis.

Dubai’s Marka makes UK football acquisition

Dubai’s Marka, a retail and restaurant start-up that listed on the emirate’s bourse last year, expects to become profitable in 2016, a company official said, pushing back the timeline given earlier.

Bank financing falls short of UAE’s green ambitions

Private-sector environmental initiatives are being hampered by banks’ reluctance to finance clean-energy enterprises in the UAE, according to economists.

UK GDP sees slowest rise since 2012

The UK gross domestic product (GDP) rose in line with expectation at 0.3% in the first three months of 2015, the lowest growth rate since the fourth quarter of 2012.

Gulftainer’s Khorfakkan Terminal sets record unloading

Gulftainer, the Sharjah-headquartered port operator, has said that it has set a new record for the largest complete unloading of a single cargo vessel at its Khorfakkan Container Terminal (KCT).

More than 60% prefer money transfer services to banks

More than 60% of Muslim consumers now favour using new money transfer services over traditional banking services, according to research from FXcompared Intelligence.

Malaysia Airlines to sack 33% of staff in major restructuring

Malaysia Airlines (MAS), which lost two of its planes in tragic circumstances last year, is to sack one-third of its 20,000 staff as part of a major reorganization aimed at making the ill-fated company more efficient.

Boost for Fujairah retail sector with 160-shop mall

A new mall with 160 shops is set to open in Fujairah in September as the emirate expands its retail sector.