Friday 4 September 2015
 
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Bahrain banks ‘ready to face global headwinds’

Bahrain’s banks have strong liquidity and capital buffers that would enable them to tide over global headwinds due to continuing low oil price and low growth expectations, experts from ratings agency Moody’s Investors Service said

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Banks to fund 30pc of Deyaar's $817m project

Dubai's Deyaar Development will fund 30 per cent of its $817 million Midtown project through bank loans, the real estate firm's chief executive said on Monday. Midtown will target mid-income residents as Deyaar tries to fi

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Payments glitch at HSBC leaves Britons without wages

Thousands of Britons failed to receive their wages on Friday (August 28) when a problem at Europe's biggest bank HSBC prevented some of its business customers from making payments.   The glitch affected payme

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Banks lead H1 earnings growth in Kuwait

Kuwait’s banking sector recorded a solid growth of 13 per cent during the first half (H1) of the year, benefiting from an improving operating environment and healthy growth in credit, a report said. With such results, bank p

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Lower net income growth on cards for GCC Islamic banks

Islamic banks in the Gulf are facing a gradually weakening operating outlook in 2015-2016, largely due to declining oil revenues, according to a report.   The Standard &

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Global banks to steer clear of Iran until sanctions finally go

International banks and most insurers are likely to steer clear of dealing with Iran for some time, fearing they could face more fines from US regulators despite this week's nuclear deal between world powers and Tehran. With a

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UAE credit scoring service grows, lending impact uncertain

Almost all banks are now using data from the UAE’s’ new credit bureau, its chief executive officer said, which development analysts believe should boost confidence in the banking system. It also helps to put the UAE on

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BBK backs Bahrain Association of Banks

The Bank of Bahrain and Kuwait (BBK) has donated BD19,000 ($50,371) to the Bahrain Association of Banks (BAB), underlining its ongoing support. Presenting a cheque to BAB chief executive Dr Waheed Al Qassim, BBK chief executive Ab

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Saudi issues $4bn bonds to finance budget deficit

Saudi Arabia has issued bonds worth SR15 billion ($4 billion) to local banks this year to finance its budget deficit, its central bank governor was quoted as saying by Al-Iqtisadiya daily on Friday. The bonds will help pay for a b

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Saudi liquidity holds up in May over stable oil

Saudi Arabia’s domestic liquidity held up in May, helped by the stabilization in oil prices, at the cost of continued expansionary fiscal policy, a report said. M3 growth was 10.4 per cent year-on-year (yoy) in May, increasi

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