Business Blog

With the rapid expansion of Oman's economy and development projects, Islamic finance will have to play a significant part to meet increased funding requirements, according to H E Yahya al Jabri, chairman of the Special Economic Zone Authority at Duqm (Sezad).

Etihad Etisalat (Mobily) will pay a first-quarter cash dividend of SR1.25 per share, the telecom operator said in a statement.

The UAE hospitality industry will continue to see addition of more hotels over the next four years, with the Emirates adding 120 hotels and nearly 32,000 rooms to cater to the growing number of guests.

The Sharjah Investment and Development Authority (Shurooq) is rounding up preparations for its participation in the Arabian Travel Market (ATM 2014), which will take place at the Dubai International Exhibition and Convention Centre from the 5th to the 8th of May 2014.

Saudi Ambassador to Lebanon Ali Awad Assiri said Friday that his country was not imposing a travel ban on Lebanon, adding that he had received reassurances from high-ranking Lebanese officials that the security situation here was stable.

The Islamic Development Bank has given loans worth USD 100 billion to member states since its inception to finance development projects, thus playing a big role in accelerating economic growth in Muslim countries, said Ahmed Mohamed Ali, its president.