Islamic equivalents to conventional financial instruments have been developing even in relatively obscure areas such as short-term interbank lending, trade financing and swaps.
The conflict could pose a domestic security challenge for Saudi Arabia, and deny Dubai and Oman the economic benefits of rapprochement with Iran.
Saudi’s regional foe Iran has called a halt to the “military aggression” in Yemen.
Gulf countries’ operations have received open support from the West.
The decision to send troops to Yemen to support the Gulf states’ operation is being examined by Pakistan, an official said.
Jordan has close ties to the Gulf states and depends heavily on regional heavyweight Saudi Arabia for shoring up its economy.
Dubai’s index, which is the most volatile in the region because of leverage and the dominance of short-term investors, tumbled 5.1 per cent.
A Joint Planning Cell has been established with Saudi Arabia to coordinate U.S. military and intelligence support, White House said.
A widening Yemen conflict could pose risks for global oil supplies, and Brent crude oil prices shot up nearly six per cent soon after the operation began.
Yemen’s foreign minister had earlier called on Arab states to intervene militarily to halt the Shi’ite militia’s Houthi advance.
The armor and artillery being moved by Saudi Arabia could be used for offensive or defensive purposes, two U.S. government sources said.
The pair are charged with aiding a terrorist organisation, a reference to the Muslim Brotherhood.
The comments appear to counter some market forecasts that the U.S. oil glut may push prices to as low as $20-$30.
Hadi wants the council to adopt a resolution to authorise “willing countries that wish to help Yemen to provide immediate support for the legitimate authority.”
Hadi’s forces have stationed tanks and artillery on a number of roads linking north and south Yemen.
The EU believed it was urgent to make “renewed, structured and substantial efforts towards peace” in the Middle East.
Riyadh Yaseen has urged the Arab states to set up a no fly zone to counter the growth of Houthis.
No specific reason was given for the findings, recorded by a PwC survey.
Iraqi PM Haidar al-Abadi’s office gave no details about the invitation or when the possible visit would take place.
Average salary across all countries, positions and racial groups in our list rose 7.88 per cent in the last year.
Arab expat salaries rose the least among racial groups, up 4.69 per cent year-on-year, on the Gulf Business 2015 Salary Survey.
Average wages earned by Asian expats across all the positions rose 9.74 per cent, found the Gulf Business 2015 Salary Survey.
The Gulf Business 2015 Salary Survey found that salaries for Western expatriates in the GCC grew almost 10 per cent last year.
Violence has been spreading across the country since last year when Houthi militia seized the capital Sanaa.
The project is expected to provide 2,000 megawatts of solar energy to Egypt.
The bulk of the financing consisted of a $800 million Islamic loan of five years duration that was provided by five Saudi banks.
Arabtec posted an unexpected Q4 loss of $25.7 million, blaming non-recurring general and administrative expenses.
Daman Fifth caters mostly to rich individuals, family investment offices and institutional investors from within the Gulf.
Actual oil output from the United States could prove harder to beat back, sources say.
The firm is bidding for the second phase of Etihad Rail project, a senior official said.