Friday 1 August 2014

India plans to borrow $61 billion

India will borrow a gross 3.68 trillion rupees ($61.4 billion) in the first half of the fiscal year that begins on April 1, or 61.6 per cent of the full-year target, Arvind Mayaram, the country's economic affairs secretary, said yesterday.


Egypt to let state workers borrow to boost economy

Egypt will let 6 million state employees borrow against their salaries in a move designed to stimulate the economy, Al-Akhbar newspaper reported on Wednesday, citing an unnamed Ministry of Finance official.  Under the programme, empl


Expats ‘borrowed cash to land jobs in Bahrain’

More than 70 per cent of expatriate workers, mostly from India, Bangladesh and Pakistan, borrowed money or sold property in their native countries to secure a job inBahrain, said a study. Only 30 per cent of them believe their dream ha


Waha Capital eyes $1bn acquisitions

Abu Dhabi's Waha Capital may announce acquisitions worth $500 million to $1 billion each this year and might have to borrow to finance its purchases, its chief executive said on Sunday. Samer Alhaj told Reuters on the sidelines of a pr


Emaar in $4bn borrowing plan

Emaar Properties the Arab world's largest real estate developer by market value, set up a $4 billion borrowing programme but is unlikely to draw on the debt until market conditions improve. 'The longer term perspective is to have a


UAE banks to get $200m daily funding

The United Arab Emirates central bank said on Monday local banks could borrow up to $200 million per day under facilities designed to cater to the financing needs of both conventional and Islamic banks. While conventional banks would be re


UAE banks borrow 80pc state cash package

United Arab Emirates' banks have borrowed 80 per cent of a Dh25 billion ( $6.8 billion) government liquidity package allocated last month, a newspaper reported on Wednesday. 'The banking sector has used 80 per cent of that all

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