Sunday 5 July 2015
 
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Cheap oil to push UAE into first fiscal deficit since 2009

The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities. The UA

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Customer deposits surge at Oman Islamic banks

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)

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Egypt central bank imposes cap on dollar deposits

The Egyptian central bank has struck another blow against the country's unofficial currency market, with a cap on the amount of dollars that can be deposited in banks, private bankers and a central bank source said. The cap on

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Egypt to repay $2.5bn Qatari deposit by month-end

Egypt will repay a $2.5 billion deposit to Qatar at the end of November, bringing to $6 billion the deposits it has returned to the Gulf country since last year's ouster of Islamist President Mohamed Mursi, a central bank source said on Thur

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DFSA freezes deposits in local Espirito Santo bank

The Dubai Financial Services Authority (DFSA) said it was freezing deposits and imposing other restrictions on private banker ES Bankers Dubai, part of the Portuguese Espirito Santo family's troubled empire. The move is the la

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Qatar to set up deposit insurance

Qatar regulators will establish a deposit insurance framework that will include a sharia-compliant scheme, one of several reforms aimed at modernising the financial sector of the world's top exporter of liquefied natural gas.

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Egypt returns $500m deposit to Qatar

Egypt returned a $500 million deposit to Qatar at the start of November after Qatar refused to renew it upon its maturity, a central bank official told Reuters on Monday. The central bank expects to return a further $500 million i

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Egypt gets $3bn Qatari fund at 3.5pc

Egypt received a $3 billion deposit from Qatar on Thursday, a central bank official said on Sunday, shoring up finances hit by economic turmoil since a popular uprising that toppled the government two years ago. The funds will rem

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Egypt gets $3bn Qatari fund at 3.5pc

Egypt received a $3 billion deposit from Qatar on Thursday, a central bank official said on Sunday, shoring up finances hit by economic turmoil since a popular uprising that toppled the government two years ago. The funds will rem

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Bahrain mulls deposit for holding rallies

Organisers of public demonstrations in Bahrain could soon have to pay deposits of up to BD20,000 ($52,750) for permission to stage them in an attempt to prevent them from turning violent, a report said. MPS yesterday unanimously a

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