Bloomberg The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, according to the Saudi Arabia General Investment Authority. Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively, Ibrahim Al Omar, governor of Sagia, as the kingdom’s investment-promotion ...

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of a $1.5 billion sukuk by Islamic Development Bank (IDB). The listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totalling $60.89 billion. IDB now has 10 sukuk listed on the Middle East’s international financial exchange with a total value of $12.54 billion. ...

ABU DHABI / WAM Total assets of the 10 UAE banks which disclosed their Q1-2019 financial stateme-nts soared to AED1.3 trillion, 3.1 percent up from AED1.26 trillion during corresponding period last year. According to financial analysts and international consultancy firms, the financial statements released recently by the UAE banks have beaten expectations, with the national banks outperforming other sectors in ...