Friday 31 October 2014
 
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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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Saudi banks offer $32.9bn real estate loans in Q1

Saudi banks provided loans totalling SR123.4 billion ($32.9 billion) to the real estate sector in the kingdom during the first quarter of this year, a report said. Real estate loans to individuals rose by 33 per cent in Q1 2014 to

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Bahrain banks' loans set to grow 10 pc

A spurt in industrial and commercial activity in the first half of the year suggests that bank lending in Bahrain is likely to grow at 10 per cent this year, reported the Gulf Daily News, our sister publication, citing a senior financial expert.

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Bank Sohar Q1 net jumps 31pc

Oman's Bank Sohar, in talks to merge with larger rival Bank Dhofar, reported on Monday a 31 percent year-on-year jump in net profit for the first quarter of this year to 7.96 million rials ($20.7 million). Net loans and advanc

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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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