IN the global banking industry, Islamic banking is considered as one of the fastest growing segments, with multi-billion dollar assets under its management. However, the history of contemporary Islamic banking is not old.
Misr Development Bank, known to be the first Islamic bank in the world, was established only in 1962. The bank did not explicitly [...]
CRUDE oil futures rebounded overnight on renewed jitters over Iran a day ahead of a UN deadline for the Islamic state to suspend nuclear enrichment operations or face the threat of sanctions.
The market shrugged off stronger-than expected data on US inventories of crude oil and petrol, which had prompted a downturn in prices early in [...]
When Eric E. Schmidt, Google’s chief executive, was named to Apple Computer’s board this week, it did more than signal a potential alliance between powerful companies. It touched off a wave of speculation about the motives of the man behind the move: Apple’s co-founder, Steven P. Jobs.
“The old social networks in Silicon Valley run very [...]
An Ontario judge has frozen Conrad Black’s personal assets worldwide, the latest in a series of legal moves that have targeted the former media baron’s finances.
As a result of the ruling, which he is expected to challenge, Lord Black would have very limited access to his cash and would have to seek court approval for [...]
Clorox Co., the maker of household bleach and Glad trash bags, named former Coca-Cola Co. executive Donald Knauss as chairman and chief executive officer, a company spokesman said.
Knauss succeeds Chief Executive Officer Gerald Johnston, 59, who retired on May 3 to recover from a heart attack he suffered on March 1. Board member Robert Matschullat, [...]
EURONEXT, the pan-European stock exchange, vowed yesterday to complete a planned merger with its New York counterpart by early next year despite signs of growing opposition among investors.
As Jean-François Théodore, chief executive of Euronext, announced a sharp rise in second-quarter earnings yesterday, he said that shareholders would vote on the tie-up with the New York [...]
Passengers flying withRyanair may be able to use mobile phones on board from next year.
While other airlines are more cautious about the impact of loud phone conversations on other passengers, the Irish “no-frills” carrier has completed a deal with the communications company OnAir to offer the facility on all Ryanair’s Boeing 737 aircraft.
It means that, [...]
Russia’s Globex announced Tuesday it completed the deal of raising a loan with Dubai Islamic Bank. For the credit institutions of Russia, it is the first deal made under Murabaha.
Globex bank announced yesterday it raised an annual loan with Dubai Islamic Bank worth $20 million. It was the German branch of CCH International that assisted [...]