Monday 8 February 2016
 
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Loans

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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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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