State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) has taken out a RO350 million ($910 million), ten-year loan from local and regional banks, part of which will be used to fund expansion projects, the company said on Friday.
Bahrain plans to borrow more than BD9 billion ($23.7 billion) over the next six years.
This was revealed yesterday (May 13) by Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa, who described the projection as ‘tentative
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 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
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
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 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
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
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