Business Blog

Oman's central bank has set up a sharia supervisory board to help oversee the sultanate's Islamic banking industry, a centralised model that is increasingly being adopted across the global industry but remains a rarity in the Gulf.

Oman's central bank has set up a sharia supervisory board to help oversee the sultanate's Islamic banking industry, a centralised model that is increasingly being adopted across the global industry but remains a rarity in the Gulf.

Oman's central bank has set up a sharia supervisory board to help oversee the sultanate's Islamic banking industry, a centralised model that is increasingly being adopted across the global industry but remains a rarity in the Gulf.

Prime residential rents in Dubai rose by 2% in the second quarter 2014, taking the annual increase to 14.1% - topping the list of 17 global cities tracked by UK-based Knight Frank.

Forecasts indicate the possibility of a dramatic growth in investments worth over SR95 billion in the Saudi tourism sector, hotels and apartments during the next 10 years.

The occupancy rate of furnished apartments in Riyadh has dipped amid competition offered by new high-rise accommodation, which is being offered at lower rates.