The Central Bank of Bahrain (CBB) has warned that borrowing in the face of oil price drop and the absence of a plan to reduce deficit, will have an adverse impact on the kingdom’s economic stability.
With increased governmen
Saudi Arabia's Finance Ministry will discuss with the central bank its options for financing the large state budget deficit expected next year, and may cover some of the shortfall with borrowing, Finance Minister Ibrahim Alassaf said.
Bahrain's Shura Council has rejected a request from the government to modify the terms of a BD5 billion ($13.1 billion) borrowing cap approved earlier this month.
Minister of State for Parliament and Shura
Dubai Financial Market (DFM) , the emirate's main stock exchange, has issued rules allowing the lending and borrowing of securities, part of efforts to make the market more flexible ahead of an influx of foreign funds.
State-owned companies in Qatar must now seek approval from the Ministry of Finance before undertaking any borrowing activity, banking sources said on Tuesday, as the country looks to avoid unsustainable debt levels in a rush for growth.
With the United States just a day away from exhausting its ability to borrow money, US Senate leaders were still discussing a deal late on Tuesday aimed at raising the debt limit and reopening federal agencies that have been closed for two weeks
Abu Dhabi state fund Aabar Investments, weakened by a slump at key assets, faces a near doubling in borrowing costs as it closes in on a refinancing package to repay a $2 billion loan due in May, banking sources said.
The fund, th
Spain's medium-term borrowing costs spiralled to a euro-era record at an auction on Thursday, hours before an independent audit was due to reveal how big a capital hole in Spanish banks needs to be filled by a euro zone bailout.
A bailout for Spain's teetering banks, once requested by Madrid, could amount to as much as 100 billion euros ($125 billion), two senior EU sources told Reuters on Saturday.
Spain has not yet made a formal request for European aid but
Gulf Arab governments may be pressured into increasing sovereign borrowing next year to raise funds on behalf of state-linked companies, as wide credit spreads make raising corporate debt expensive.
This year, Bahrain, Qatar and Dubai issu