Friday 26 August 2016
 
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Loans

UAE 'contains' problem of SME debtors skipping country

The problem of small business owners in the United Arab Emirates "skipping" the country over unpaid debts has been contained, although it is set to remain an issue well into next year, the head of the Gulf state's banking federatio

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$458bn for China poverty reduction

Agricultural Development Bank of China, one of the country's main policy lenders, plans to lend 3 trillion yuan ($458.12 billion) up to 2020 as part of government efforts to reduce poverty, state media reported.  

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Dubai lenders in talks to raise $1.7bn in loans

Emirates NBD (ENBD), Dubai's largest bank, and Commercial Bank of Dubai (CBD) are both talking to banks to raise a combined total of up to $1.7 billion in loans to refinance existing debt, sources close to the matter said. The

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UAE banks cut credit lines to SMEs after defaults

Banks in the United Arab Emirates are cutting credit lines to small- and medium-sized businesses (SMEs) after a spate of defaults, posing a threat to one of the economy's main drivers. As weak oil prices prompt a drying up of

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Loans, credit cards UAE’s top banking products

Loans and credit cards tailored to the more cost-conscious consumer featured prominently in a new survey which ranks the most popular banking products in the UAE. Union National Bank's house rent loan gets the top rank amongst

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GE nears deal to sell $30bn finance unit to Wells Fargo

General Electric is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Company, according to a person familiar with the matter, as the industrial conglomerate returns to its roots.

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Saudi sells $5.33bn sovereign bonds to banks

Saudi Arabia has sold a new tranche of bonds worth SR20 billion ($5.33 billion) to banks to help cover its budget deficit, the Maaal financial website said on Wednesday, citing informed sources. The five-year tranche carried a cou

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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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