Qatar Islamic Bank is issuing €200m worth of Islamic bonds which will invest in real estate in Western and Northern Europe. The sukuks will be brought to the market with France-based investment firm Inovalis. The transferable bonds will have a fixed investment return distributed quarterly, and investors will share in capital profits. [AMEInfo.com] full text
Citibank says it has introduced a product that gives its credit card holders ‘instant approval’ for car loans in the UAE. Called Swipe&Drive, customers pay a 10% down payment through a credit card which gives them finance for up to 90% of the value of the car. The bank says it has recently reduced interest rates and increased loan tenors up to six years. [AMEInfo.com] full text
The US wants the UAE to make changes to its company law and liberalise foreign direct investment rules, claiming it would help local business, Gulf News reported. US trade official David Bohigian said he had spoken to UAE Minister of Economy Sheikha Lubna Al Qasimi about changes to the agency law. A new UAE company law currently being drawn up is widely tipped to allow foreign majority ownership in local companies. [AMEInfo.com] full text
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After all the volatility, dollar is still stuck in consolidation against majors. More UK data is due today. Sterling has… full text
By federal laws, credit card fees cannot actually be “hidden” from consumers, but that doesn’t mean that all credit card users fully understand how they are charged or what instances will result in fees or increases to existing rates. full text
Strong rejection in EURUSD at 1.2870. Very low PPI figures in the US – might set the tone into tomorrows… full text
Millennium Finance, a unit of Dubai Islamic Bank has launched two $1bn private equity funds which it might list on the Dubai International Financial Exchange, reported Gulf News. The Islamic funds will invest in the telecoms, media, technology and energy industries in the Middle East, Africa and Asia. Investors would need to put up between $20m-$200m a time. [AMEInfo.com] full text
On the wake of uSwitch’s comments on secured and unsecured personal loans, banks in UK have declared that they are doing all that they can to full text
Bahrain state-owned company Bapco is giving its workers pay increases from 8%-19%, with the lowest paid workers getting the higher increases, reported Gulf Daily News. Management will get increases of 8%. The package covering the company’s 3,200 employees is worth $1.55m. [AMEInfo.com] full text