Thursday 24 April 2014
 
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Interest rate fears hit consumer sentiment

Worries about rising interest rates and falling stock prices hit US consumer sentiment in early July, while other data showed a firm rise in wholesale prices that could make the US Federal Reserve more comfortable reducing its monetary stimulus.

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Kuwait debtors' bailout to cost $2.6bn

  A government bailout of Kuwaiti debtors is expected to cost 744 million dinars ($2.61 billion), finance minister Mustapha Al-Shamali said on Tuesday.   The government, under pressure from members

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Saudi banks to post lower profit in 2013

The Saudi Arabian banks are likely to register a lower profit growth this year owing to increasing competition and reduced income from brokerage, according to a report. The pressure on these banks' net interest margin (NIM) wi

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Doha Bank offers home loans at under 4pc

Doha Bank, a leading private bank in Qatar, has launched its new retail mortgage loans portfolio which now features a competitive interest rate of 3.99 per cent. The bank will provide loans of up to 70 per cent of property value f

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BBK's net profit rises 18pc to $83m

Bank of Bahrain and Kuwait (BBK) said its net profit for the first nine months rose 18.2 per cent from the same period last year to BD32.1 million ($83.4 million). "BBK's fundamental strengths, along with its clear strate

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Spain borrowing costs soar as EU ponders aid

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. Euro zone

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Bahrain’s $238m annual interest ‘may rise’

Bahrain’s government pays BD90 million ($238.7 million) every year as interest on loans and the figure is set to increase in coming years, said the Finance Ministry. A report from the Ministry added that the government deduc

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Omanis interested in Islamic Finance-study

Omani customers have expressed a strong appetite for Islamic Finance with a rapid take-up of banking products expected within the first 12 months of being launched, key findings published from Oman’s first independent market study showed.

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RAKBank launches new mortgage offer

RAKBank, also known as the National Bank of Ras Al-Khaimah, has launched a new mortgage offer that provides property buyers with added flexibility as well as interest rates from as little as 5.5 per cent. Available for a limited period, th

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CBI offers personal loans at 6.75pc

Commercial Bank International (CBI), one of the leading banks in the UAE, has unveiled a new promotion offering personal loans with an interest rate of 6.75 per cent per annum. As part of the promotion, customers will enjoy zero processing

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