Monday 21 April 2014
 
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Loans

73pc Saudis 'don't have own homes'

About 73 per cent of Saudi citizens do not have houses of their own, a Shoura Council member said urging authorities to speed up disbursement of loans. The Real Estate Development Fund (REDF) must speed up the disbursement of loan

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WARNING: UAE banks must help write off debt

Commercial banks in the UAE, a major financial hub, have been warned to help write off the debts of UAE citizens or face punitive measures, local media reported on Thursday, quoting a senior government official. Banks must coopera

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$49m home loans approved in Bahrain

Bahrain's government has allocated BD19 million ($49.3 million) in housing loans to citizens on the waiting list. The package, which marks National day and His Majesty’s 14th Accession Day, will benefit 628 eligible appl

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Flydubai secures $228m loan to finance six jets

Budget airline flydubai has secured a $228 million loan from regional and international banks to finance the purchase of six new Boeing jets, the carrier said in a statement on Wednesday. The financing is for two recently delivere

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Saudi loan growth to private sector ‘sustainable’

High loan growth to the private sector in Saudi Arabia is likely to continue in the next two to three years as government spending supports a surging economy, said the managing director of Saudi British Bank (SABB). According to c

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Bahrain sees loans on the rise

The loan portfolio of Bahrain's banks rose to its highest level of BD7.1 billion ($18.7 billion) at the end of June, compared to BD7.03 billion in May, according to latest data compiled by Central Bank of Bahrain. The kingdom&

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Egypt says ready to repay Qatari loan in days

Egypt is prepared to repay within days $2 billion that Qatar deposited with Egypt's central bank in May if talks to convert the funds into bonds do not succeed, a central bank official said on Wednesday. "This supposedly

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Egypt ‘preparing timetable to repay energy debts’

Egypt is preparing a timetable for repaying arrears on debts it owes to foreign oil companies to encourage them to continue investing in the country, the Petroleum Ministry said on Sunday. Egypt owes at least $5 billion to oil com

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Gulf billions buy Egypt economy breathing space

Twelve billion dollars in aid from Egypt's wealthy Gulf allies have bought Cairo a window of several months to try and stabilise its politics and repair its state finances - or face fresh economic turmoil.  

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Nakheel in talks to refinance $2.2bn loans

Dubai's state-owned property firm Nakheel is in talks with banks to refinance loans worth 8 billion dirhams ($2.2 billion) that are due in 2015, the chairman of the company said on Wednesday.

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