Business Blog

Citymax Hotels is undergoing an aggressive expansion at present, which will see the mid-market hotel brand open its first hotel in Fujairah and a new one in Dubai, according to Russel Sharpe, the hotel chain’s chief operating officer.

Moody's Investors Service says the strong growth momentum in the sovereign sukuk market should be sustained as both Islamic and non-Islamic governments aim to tap increased demand for Shariah-compliant financial assets and further support their policy goals for Islamic finance.

Goldman Sachs is reviving plans to raise at least USD 500 million with its first issue of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.

Goldman Sachs is reviving plans to raise at least USD 500 million with its first issue of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.

Turkey's bank watchdog has taken sweeping powers at Islamic lender Bank Asya ASYAB.IS , which has seen depositors flee and bad loans soar since it became caught up in a political power struggle, a source at the watchdog said on Thursday.

Turkey's bank watchdog has taken sweeping powers at Islamic lender Bank Asya ASYAB.IS , which has seen depositors flee and bad loans soar since it became caught up in a political power struggle, a source at the watchdog said on Thursday.