Business Blog

The British government has mandated banks to arrange a five-year 200 million pound (USD 336 million) sukuk - the world's first Islamic bond to be issued by a Western sovereign.

The British government has mandated banks to arrange a five-year 200 million pound (USD 336 million) sukuk - the world's first Islamic bond to be issued by a Western sovereign.

Saudis who were totally against watching television, suddenly discovered that it was halal (not against Islamic teaching) and could be watched at home. However, they remained adamant in their objection to cinemas.

New Zealand Trade Minister Tim Groser expressed optimism regarding the signing of a comprehensive free trade agreement (FTA) that will lower trade barriers between Saudi Arabia and other GCC countries.

These days, no fashion house portfolio is complete without a hotel -- or at the very least, a luxuriously designed suite.

Pakistani conglomerate Engro Corp, a former unit of Exxon Mobil Corp, has raised 1 billion rupees (USD 10 million) from an issue of Islamic bonds in the retail market, the company said in a regulatory filing.