Business Blog

London's Battersea Power Station redevelopment project has secured a sharia-compliant syndicated loan of GBP 467 million, a step towards developing Britain as an Islamic finance centre.

London's Battersea Power Station redevelopment project has secured a sharia-compliant syndicated loan of GBP 467 million, a step towards developing Britain as an Islamic finance centre.

* Fed hopes, earnings lift stocks* European corporate results not quite so sparkling* Government bond yields edge lowerBy Jamie McGeeverLONDON, Oct 29 (Reuters) - World stocks rose on Wednesday, lifted by strong corporate earnings and investor optimism that the U.S. Federal Reserve won&apost raise interest rates for some time, even as it is expected to officially wind down its bond-buying stimulus

Saudi Arabia's Red Sea Housing Services Co. has posted a net income of SAR 127.4 million for the first nine months of 2014, up 16.6% compared with a year earlier.

Zain KSA narrowed its net losses during the third quarter by 25 percent, reduced to SAR 316 million from SAR 421 million during the third quarter of 2013, reflecting a 19 percent drop in net loss during the nine months of this year compared to the same period last year.

The leadership of Dubai is making a big push to establish Dubai as the global capital of the Islamic economy. What makes Dubai well suited to take on this role?CHILWAN: There&aposs absolutely no doubt in my mind that Dubai is well-poised to become the global capital of Islamic economy. The Islamic banking industry is a relatively nascent industry. It&aposs only 1% of the global banking markets. At