FinTech will radically improve the financial health of the people of the Gulf through access to next-generation banking services, says Simon Galpin, managing director of Bahrain Economic Development Board.
The proposal involves SpiceJet, led by chairman Ajay Singh, acquiring as many as 40 of Jet Airways’ grounded planes that are owned by lessors, one of the people said, asking not to be identified as discussions are preliminary. The government has also reached out to other carriers, the person said.
Global exchange-traded funds are building cash piles to place in Saudi Arabian equities, according to a ranking compiled by Bloomberg.It comes as the country joins the FTSE Russell emerging markets index, which is expected to attract billions of dollars in foreign fund inflows.“We believe Saudi’s inclusion in the FTSE Russell EM Index will have a significantly positive impact on stock markets, Salah Shamma, the regional head of investment at Franklin Templeton Emerging Markets Equity, told Arab News.
Kuwaiti authorities have arrested a Syrian businessman who is close to the head of the Syrian regime, Bashar al-Assad.Mazen Tarazi was arrested late Monday at his offices at Al-Hadaf magazine, his lawyer Badr Al Yacoub told Agence France Presse, saying he did not yet know the reasons behind his client’s arrest. Al-Qabas newspaper said on its website that Tarazi was accused of money laundering and printing texts without authorization.
A steady decline in the number of white collar expatriate employees has hit housing rental market hard in Oman. Rents declined by 10-15 per cent in 2018 compared to 2017.
Since the demand is mainly from these expatriates, their declining number is resulting in stress in rental as well investment properties, according to the March 2019 Property Report from Al Habib, the largest real estate solutions provider in Oman.
The European Union’s antitrust regulators on Wednesday (March 20) fined Google 1.49 billion euros ($1.7 billion) for abusing its dominance in the online search market by blocking rivals.
Google has abused its market dominance by imposing a number of restrictive clauses in contracts with third-party websites which prevented Google’s rivals from placing their search adverts on these websites, the European Commission (EC) said in a statement.