Wednesday 2 September 2015
 
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Gulf's days of easy money ending over oil price slump

The days of very easy money are drawing to a close in the rich Gulf Arab oil-exporting economies as money market rates start to rise, partly because of the damage which cheap oil is doing to government finances. Loose liquidity cr

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Turkish Airlines seeks $3bn for aircraft financing

Flag carrier Turkish Airlines is in talks with banks to raise up to $3 billion in loans for financing the purchase of Airbus and Boeing aircraft to be delivered in 2016, according to three sources. The Airbus aircraft financing wi

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Dubai Aluminium signs $1.8bn loan deal

Dubai Aluminium (Dubal) has completed its $1.8 billion seven-year loan, the first facility which the company has raised to fund its general business purposes in two decades, banking sources said on Thursday. The transaction was si

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Saudi government writes off $52m housing loans

The Saudi Ministry of Housing has written off SR198 million ($52.7 million) in loans given to 852 citizens, who are now dead. Housing Minister Shuwaish Al-Duwaihi, who is also the head of the Real Estate Development Fund (REDF), c

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UAE to provide $1.36bn housing loans

The UAE Ministry of Finance has signed a memorandum of understanding (MoU) with Sheikh Zayed Housing Programme and Emirates Development Bank to provide housing loans to UAE citizens. As per the deal, the ministry will offer Dh5 bi

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Kuwait real estate sales down 6.7pc in August

Real estate sales in Kuwait declined for the second month in a row to KD250 million ($862.5 million) in August, a drop of 6.7 per cent month-on-month, a report said. Real estate activity is traditionally muted in August when much

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‘Over 25pc in UAE falling behind on debt payments’

More than a quarter of respondents polled recently by compareit4me.com, a UAE-based finance comparison website, have admitted to missing a payment or making a late payment on their existing loans. The online survey, conducted between Ju

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Saudi banks offer $32.9bn real estate loans in Q1

Saudi banks provided loans totalling SR123.4 billion ($32.9 billion) to the real estate sector in the kingdom during the first quarter of this year, a report said. Real estate loans to individuals rose by 33 per cent in Q1 2014 to

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Bahrain banks' loans set to grow 10 pc

A spurt in industrial and commercial activity in the first half of the year suggests that bank lending in Bahrain is likely to grow at 10 per cent this year, reported the Gulf Daily News, our sister publication, citing a senior financial expert.

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Bank Sohar Q1 net jumps 31pc

Oman's Bank Sohar, in talks to merge with larger rival Bank Dhofar, reported on Monday a 31 percent year-on-year jump in net profit for the first quarter of this year to 7.96 million rials ($20.7 million). Net loans and advanc

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