Economy briefs: Tamweel deputy CEO detained

DUBAI: Dubai mortgage lender Tamweel said yesterday that its deputy chief executive officer had been detained for questioning by Dubai government in connection with an ongoing investigation. “Tamweel wishes to disclose that Abdulla Nasser Abdulla ... has been detained,” it said in a statement.

Amlak, Barwa plan mortgage firm

DUBAI: Amlak Finance said yesterday a 500 million riyal ($137.4 million) mortgage financer it is setting up in Qatar with Barwa Real Estate Co. had received a license from the Qatari central bank. Dubai-based Amlak, the UAE’s largest mortgage lender by market value, will own 40 percent and Barwa 60 percent of Amlak Finance Qatar, which has authorized capital of 500 million riyals, Amlak said in a statement.

WGC appoints new CEO

JEDDAH: World Gold Council (WGC) has announced the appointment of Aram Shishmanian as its new CEO. Shishmanian will join WGC for a transitional period in mid-October, while current CEO James E. Burton will continue to lead the organization until mid-December when he will leave to return to his native California.

Jordan’s inflation rate jumps to 14.9%

AMMAN: Jordan’s inflation rate jumped to 14.9 percent in the first eight months of the year compared to the same period of 2007, the Department of Statistics has said.