Alternative energy, Nasdaq and air fares on the rise
New Nasdaq member
Emirates Islamic Financial Brokerage (EIFB), a major Shariah-compliant broker in the UAE has become a member of Nasdaq Dubai, the region’s international exchange, Arab News has reported. The move means greater investment in the region and beyond by Islamic financial institutions. EIFB joins other key players, including the Industrial and Commercial Bank of China, which has its regional headquarters in DIFC, but will be expanding throughout the GCC. Arab News said ‘ EIFB will focus on opportunities for trading Shariah-compliant shares listed on Nasdaq Dubai, as well as other Shariah securities that become listed in due course.’ Read more here.
Here comes the sun
Looks like the trend for making use of the sun’s rays will be expanding throughout the region, with Saudi Arabia following Abu Dhabi’s lead by initiating a project to draw 41 gigawatts of electricity from the sun over next 20 years. While huge-scale solar power plants such as Shams-1 (which opened in Abu Dhabi in March 2013), will be the main source providers, rooftop panels on households will also play a large part. With so much regional expansion, alternative energy shares could be an interesting prospect. Read more here
If you’re planning on flying home this summer, be prepared for an expensive journey. In fact, you might even be better off rescheduling your trip for a later date. Airfares are on the up due to the summer demand, and have already increased by 20 to 40%, depending on the destination. Most expensive flights include European destinations such as UK, Germany, Switzerland and France. Other costly trips are the usually less expensive travel alternatives, Turkey, Malaysia and Thailand. Find out more.