The 8th Compliance & Anti Money Laundering Seminar in Saudi Arabia, hosted by Thomas Reuters, was held Monday in collaboration with the Saudi Arabia Institute of Finance. While addressing the opening session, Saudi Arabian Monetary Agency (SAMA) Vice Governor Abdulaziz Al Furaih highlighted that SAMA anticipates obtaining a full membership at the Financial Action Task Force in June 2018. Read More »

The Article IV mission of the International Monetary Fund (IMF) presented its valuation of the economic and financial performance of the UAE at a meeting with the Ministry of Finance to review the ministry's policies that boost the national economy. The IMF report noted the country’s ability to develop growth equal to twice the economic expansion of the eurozone. Read More »

U.S. Rep. Louie Gohmert (R-TX) has a lot to say about the impact of trade deals and other events on the modern Gulf region. Gohmert spoke on the House floor last week about the Obama administration’s Joint Comprehensive Plan of Action, a deal with Iran intended to stave off the country's nuclear ambitions and promote international diplomacy. Read More »

The Qatar Chamber is building on the success of the first edition of the "Made in China" exhibition in Doha with a second edition, scheduled for Nov. 15-18, that will feature more space and more participating Chinese companies. The Qatar Chamber, in collaboration with the Embassy of Qatar in China, has begun a promotional campaign in Beijing for the second edition of exhibition. Read More »

UL, along with the Saudi Arabian Standards Organization (SAS), recently stated that it has made an agreement to encourage UL Standards for Safety usage as Saudi Arabia continues to develop its own national safety standards. Read More »

For financial services institutions, the cost of doing business in Bahrain is lower than in Dubai or Qatar, a recent KPMG report said. “We are honored to be part of this important initiative and to provide an independent overview of the financial sector in Bahrain, a critical sector in the local economy,” Jalil Al Aali, KPMG's head of financial services in Bahrain, said. Read More »

The National U.S.-Arab Chamber of Commerce (NUSACC) said that U.S. exports to the Middle East and North Africa region decreased in 2015. NUSACC said exports to the region are estimated at approximately $67.4 billion, a 5.6 percent decline from figures reported in 2014. While overall exports decreased, NUSACC said that exports to the UAE and Saudi Arabia saw an increase. Read More »

The Iran nuclear deal and overall improved ties with the Western world has caused many nations in the Middle East -- including Qatar -- to re-evaluate their relationships with other countries in the conflict-ridden region. David Weinberg, senior fellow for the Foundation for Defense of Democracies, recently discussed Qatar and Iran's complicated relationship with the Gulf News Journal. Read More »

The U.S. Chamber of Commerce partnered with Committee for International Trade at the Council of Saudi Chambers to organize a gathering of CEOs from the two countries in Riyadh in hopes of improving bilateral trade relations. Summit organizers hoped the meeting would be a boon to business in both countries and help support Saudi Arabia's efforts to grow its economy beyond oil. Read More »

Economies in the Middle East and North Africa continue to atrophy as conflict in the region intensifies and oil prices sharply decrease. Read More »

Declining oil prices continue to cause financial hardship and lack of liquidity for Gulf Cooperation Council countries, though data from the International Monetary Fund says there is room for growth in the region. The six GCC countries are facing slowed fiscal growth as well. The IMF's Adnan Mazarei told Gulf News Journal that growth in the private-sector will become key in job creation. Read More »

Kuwait has suffered in the wake of falling oil prices, but is capable of recovering from a period of slow growth, the executive board of the International Monetary Fund said. The executive board said a Nov. 25 Article IV discussion with Kuwait and IMF staff showed that recovery is possible with significant financial buffers as well as a good amount of open borrowing power. Read More »

The Islamic Research and Training Institute and Thomson Reuters will release a set of new studies and reports on the global Islamic finance sector at the World Islamic Banking Conference next month in Bahrain. The conference aims to explore investment opportunities in high-growth emerging Islamic financial markets in Central Asia, North Africa and the Americas. Read More »

Polish company Alstom recently began production of the first of 69 trainsets to be used by the Riyadh Metro in Saudi Arabia. Each trainset will include two cars consisting of first, family and single classes. The 118-foot-long trainset is driverless and completely motorized. Features includes ergonomic seating, air conditioning, LED lighting and an advanced information system. Read More »

The Middle East’s investment banks recorded 22 percent less in fees over the first nine month of 2015 than last year says Thomson Reuters' quarterly investment banking analysis for the region. Thomson Reuters estimates Middle Eastern investment banking fees reached just above $480 million during the first quarter of 2015, which makes it the worst third-quarter total for the region. Read More »

The Qatar Exchange hosted the 55th World Federation of Exchanges General Assembly and Annual Meeting last week. Doha Bank CEO Rahavan Seetharaman was among the panelists who spoke on a panel addressing "Opening the Middle East Markets – The Shape of Things to Come." He presented a broad outlook for the global economy and said he expects the GCC's market reforms to shape up. Read More »

The Middle East’s enterprises need to recruit higher level strategists to drive digital transformations, chief information officers from around the globe told attendees at the GITEX Technology Week in Dubai this week. Experts assembled at GITEX noted that advancing new technologies and collaboration will do much to develop the Smart Cities regional leaders aim to create. Read More »

Bahrain’s Minister of Finance Ahmed bin Mohammed Al Khalifa recently called for faster implementation of development goals at Development Committee meetings held during the annual International Monetary Fund (IMF) and World Bank gatherings. In his statement to the Development Committee, the Al Khalifa called for accelerated realization of the Post-2015 Development Agenda. Read More »

The international law firm Morgan Lewis has strengthened its international finance capabilities with the addition of Tarek El-Assra as a partner in Dubai. With his background handling matters for clients in the United Arab Emirates and Saudi Arabia, El-Assra will collaborate with the firm’s global finance, debt capital markets, and restructuring teams around the globe. Read More »

Bahrain’s government will implement initiatives to make the nation more energy efficient under a new agreement signed with the World Bank earlier this week: the World Bank deal sets out plans for an Energy Efficiency Implementation Program in Bahrain to provide technical support and advice to help address the challenge of curbing energy demand over the next three years. Read More »