Saudi Arabia launches special residency scheme for expats | ZAWYA MENA Edition:
Saudi Arabia launched on Sunday their new special residency scheme similar to green card systems applicable in other countries, aimed at attracting wealthy and high-skilled expats.
The residency scheme offers two types of residencies, a permanent one for 800,000 Saudi riyals ($213,321.96) and a one year but renewable residency for 100,000 Saudi riyals ($26,665.24).
The scheme was approved by the Saudi cabinet last month, but on Sunday the online portal to apply was opened to the public.
Sunday, 23 June 2019
#UAE central bank focuses on real estate in anti-money laundering efforts - Reuters
UAE central bank focuses on real estate in anti-money laundering efforts - Reuters:
The United Arab Emirates Central Bank is focusing on the real estate sector as part of its work to combat money laundering in the country, an official said on Sunday.
The UAE has been tightening its financial regulations to fight the perception among some foreign investors that it is a hot spot for illicit funds due to its free trade zones and geographic proximity to Iran.
On Sunday, the Central Bank said it will use a new anti-money laundering reporting platform starting from the end of June to identify illicit transactions more effectively.
The United Arab Emirates Central Bank is focusing on the real estate sector as part of its work to combat money laundering in the country, an official said on Sunday.
The UAE has been tightening its financial regulations to fight the perception among some foreign investors that it is a hot spot for illicit funds due to its free trade zones and geographic proximity to Iran.
On Sunday, the Central Bank said it will use a new anti-money laundering reporting platform starting from the end of June to identify illicit transactions more effectively.
MIDEAST STOCKS- #Saudi leads major Middle East markets lower as regional tensions worsen - Reuters
MIDEAST STOCKS-Saudi leads major Middle East markets lower as regional tensions worsen - Reuters:
Middle Eastern stock markets fell
on Sunday, led by Saudi Arabia, as political tensions ramped up
after U. S. President Donald Trump announcing new sanctions on
Iran.
Trump on Saturday said additional sanctions would be imposed
on Monday but that he wanted to make a deal to bolster Iran's
flagging economy, an apparent move to defuse tensions following
the shooting down of an unmanned U.S. drone last week by Iran.
The Saudi index fell 1.5%, extending losses from the
previous two sessions, as banking shares slid.
Middle Eastern stock markets fell
on Sunday, led by Saudi Arabia, as political tensions ramped up
after U. S. President Donald Trump announcing new sanctions on
Iran.
Trump on Saturday said additional sanctions would be imposed
on Monday but that he wanted to make a deal to bolster Iran's
flagging economy, an apparent move to defuse tensions following
the shooting down of an unmanned U.S. drone last week by Iran.
The Saudi index fell 1.5%, extending losses from the
previous two sessions, as banking shares slid.
MIDEAST STOCKS-Most Gulf markets lower as regional geopolitical tensions worsen - Reuters
MIDEAST STOCKS-Most Gulf markets lower as regional geopolitical tensions worsen - Reuters:
Most Gulf markets opened lower on Sunday, weighed down by deteriorating political relations in the region and after U.S. President Donald Trump announced he would impose new sanctions on Iran.
Trump on Saturday said additional sanctions would be imposed on Monday but that he wanted to make a deal to bolster Iran’s flagging economy, an apparent move to defuse tensions following the shooting down of an unmanned U.S. drone last week by Iran.
The Saudi index, which fell in the previous two sessions, was down 0.4 percent, with many banking shares sliding.
Most Gulf markets opened lower on Sunday, weighed down by deteriorating political relations in the region and after U.S. President Donald Trump announced he would impose new sanctions on Iran.
Trump on Saturday said additional sanctions would be imposed on Monday but that he wanted to make a deal to bolster Iran’s flagging economy, an apparent move to defuse tensions following the shooting down of an unmanned U.S. drone last week by Iran.
The Saudi index, which fell in the previous two sessions, was down 0.4 percent, with many banking shares sliding.
Kushner's economic plan for Mideast peace faces broad Arab rejection - Reuters
Kushner's economic plan for Mideast peace faces broad Arab rejection - Reuters:
U.S. President Donald Trump’s economic vision as part of the wider plan to resolve the Israeli-Palestinian conflict was met with contempt, repudiation and exasperation in the Arab world, even as some in the Gulf called for it to be given a chance.
The $50 billion “peace to prosperity” plan, set to be presented by Trump’s son-in-law Jared Kushner at a conference in Bahrain next week, envisions a global investment fund to lift the Palestinian and neighboring Arab state economies.
But the lack of a political solution, which Washington has said would be unveiled later, prompted rejection not only from Palestinians but also in Arab countries that Israel would seek normal relations with.
U.S. President Donald Trump’s economic vision as part of the wider plan to resolve the Israeli-Palestinian conflict was met with contempt, repudiation and exasperation in the Arab world, even as some in the Gulf called for it to be given a chance.
The $50 billion “peace to prosperity” plan, set to be presented by Trump’s son-in-law Jared Kushner at a conference in Bahrain next week, envisions a global investment fund to lift the Palestinian and neighboring Arab state economies.
But the lack of a political solution, which Washington has said would be unveiled later, prompted rejection not only from Palestinians but also in Arab countries that Israel would seek normal relations with.
#Sharjah Islamic Bank eyes double-digit loan growth, up to $500 mln bonds - Reuters
Sharjah Islamic Bank eyes double-digit loan growth, up to $500 mln bonds - Reuters:
Sharjah Islamic Bank (SIB), which will conclude in London on Monday a series of investor meetings ahead of an Islamic dollar bond sale, is targeting double-digit loan growth this year, a bank’s executive told Reuters.
The lender is looking to raise up to $500 million with its planned debt sale, which will boost its Tier 1 core capital and total capital ratios, said Ahmed Saad, deputy chief executive.
“At present, the SIB’s core capital … is not only strong but is way above the Central Bank of the UAE’s requirements. We are looking to strengthen our capital for future growth opportunities.”
Sharjah Islamic Bank (SIB), which will conclude in London on Monday a series of investor meetings ahead of an Islamic dollar bond sale, is targeting double-digit loan growth this year, a bank’s executive told Reuters.
The lender is looking to raise up to $500 million with its planned debt sale, which will boost its Tier 1 core capital and total capital ratios, said Ahmed Saad, deputy chief executive.
“At present, the SIB’s core capital … is not only strong but is way above the Central Bank of the UAE’s requirements. We are looking to strengthen our capital for future growth opportunities.”
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