Tuesday 4 October 2022 \



Oman plans to merge state pension funds

By Reuters / 9 Jan 2013

Oman is considering the merger of eight state-run pension funds, a move which would boost efficiency and create a single multi-billion-dollar institution with increased investment power, the sultanate's Minister for Financial Affairs said on Tuesday.

"The eight pension institutions are negotiating to merge which would lead to one large consolidated fund to improve efficiency, returns and investments," Darwish al-Balushi told Reuters.


Iraq Dec oil exports slip to 2.34 mbpd, official says

By Ahmed Rasheed / 8 Jan 2013

Iraq’s oil exports fell to 2.34 million barrels per day (bpd) in December from 2.62 million bpd in November due to a slowdown in Kurdistan exports, rough weather and technical problems with a single point mooring terminal, an official said on Monday.

Iraq shipped 2.02 million bpd from the southern oil hub of Basra, down from 2.194 million bpd in November, said Abdul-Ilah Qasim, an energy adviser to the Iraqi government.


Egypt strengthens Islamist role in cabinet, eyes IMF deal

By Reuters / 7 Jan 2013

Egypt's president added fellow Islamists to a reshuffled government on Sunday and the new finance minister pledged to finish talks on an IMF loan to stave off a currency crisis that risks provoking more popular unrest.

A senior IMF official is due in Cairo on Monday to meet Egyptian leaders over the $4.8 billion loan deal, which was postponed last month to give Egypt more time to tackle political tensions before introducing unpopular austerity measures.


Saudi Arabia tops world in education spending

By Irfan Mohammed / 2 Jan 2013

Paucity of funds particularly in the sector of education is commonplace and is felt globally. This makes choice to pursue education limited for the students in several nations.

In the Kingdom of Saudi Arabia the situation is however quite different. The late King of Saudi Arabia Abdul Aziz had a vision since he had founded the Kingdom (Saudi Arabia) focusing on the need of education as means to development.


Saudi Arabia to create sovereign fund for future generations

Source : Arab News / 31 Dec 2012

The government will allocate SR 200 billion from 2012 budget surplus to implement transport projects inside cities, bringing total spending in 2013 to more than SR 1 trillion, Finance Minister Ibrahim Al-Assaf said yesterday.

“We have not yet finalized the 2012 surplus because of new expenditures and revenues, especially nonoil revenues,” Al-Assaf told Al-Arabiya channel. He said the remaining amount from the surplus of an estimated SR 386 billion would be kept in public reserve.


Egypt reaches preliminary deal for $4.8 bln IMF loan

By Reuters | 21 Nov 2012

Egypt has reached a preliminary agreement with a team from the International Monetary Fund for a $4.8 billion loan, a minister said on Tuesday.

The deal is seen as a vital step for shoring up Egypt’s battered finances and rebuilding the confidence of investors, who have been looking to the IMF to give its seal of approval to the government’s economic program.

“We have a preliminary agreement with the technical team of the IMF,” Planning and International Cooperation Minister Ashraf al-Araby told a news conference with the head of the IMF delegation, Andreas Bauer, and other IMF officials.


'Europe is poor so should live within its means'

| 07 Feb 2012

For decades the West has lectured the East on how to manage its economies. Not any more.

Now the emerging economies of Asia look like models of steady, consistent policy and sustained growth while Europe, America and Japan are mired in debt and are growing achingly slowly, if at all.

So what can the West learn from the East?


Silver's rally: Should you be investing?

By Gaurav Ghose | Gulfnews | 4 feb 2012

Downward pressure on the dollar and euro makes precious metal a valuable hedge.

Silver is leading all commodities this year, up more than 23 per cent. Gold, in comparison, has gained 12 per cent.


In Arab Spring, economic gain may trump pain

By Reuters | Amman/Cairo | 17 Jan 2012

Mazen Dajani, chief executive of Jordan's CTI Group, says the Arab Spring accomplished what the global financial crisis of 2008-9 did not: It pushed his company, one of the world's largest shippers of cement, into the red.


Waqf and Sustaining Economic Development

By Monzer Kahf / Muslim Economic Expert

In Part One of this study, Dr. Kahf has elaborated kinds and objectives of Waqf in Islam. In Part Two, he studies the role of Waqf in sustaining economic Development.


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