Business Blog

Malaysia's Securities Commission has tightened rules on bai inah, a popular but divisive Islamic financing contract, in a fresh sign that standards in the world's two main centres for sharia-compliant banking are slowly converging.

Etihad Airways officially opened its new First and Business Class Lounge at Sydney's Kingsford Smith International Airport - the airline's first in Australia and the newest addition to its collection of premium lounges worldwide.

The Abu Dhabi Urban Planning Council (UPC) announced today that 13 development projects covering over four million sq.m. were approved during the first quarter of the year, with 70% of that being residential.

Average lease rates rose 4.5% in Q1; rates set to go up further.

DAMAC Hotels, the hospitality arm of DAMAC Properties, has officially launched the first fully certified Shariah-compliant serviced hotel apartments in Dubai during the Arabian Travel Market (ATM) exhibition held recently.

Pakistan's central bank has given Meezan Bank Ltd approval "in-principle" to purchase the local banking business of HSBC HSBA.L , the sharia-compliant lender said in a bourse filing on Wednesday.