BEIRUT Faced with the choice of leaving their savings stuck in the bank or investing them at a huge loss, some Lebanese people are opting to take a punt. For them, it's the only sensible option in a financial system warped by crisis.
BEIRUT Lebanon's banks, which once powered the economy by sucking in billions of dollars of deposits from abroad, are shedding staff, watching loan books shrink and chasing liquidity to stay afloat.
DUBAI Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf state's new ruler some slack for now.
DUBAI Qatar Petroleum (QP) has hired international banks for a multi-billion dollar debut public bond sale by the end of June, two sources said, as lower oil and gas prices prompt Gulf energy firms to raise cash.
DUBAI, May 31 The adoption by the United Arab
Emirates of certain sharia-compliance standards has slowed the
issuance of Islamic bonds from the Gulf, adding to a chronic
supply-demand imbalance, market sources said.
DUBAI Citizens of Oman took the streets on Wednesday for a fourth day of demonstrations, braving a heavy security presence to demand that the country's ruler follow through on promises to create thousands of jobs.
DUBAI Groups of Omanis demanding jobs held fresh protests on Tuesday, activists said, in the biggest challenge yet to the Gulf state's new ruler, who ordered the government to accelerate plans to create thousands of jobs.
DUBAI A judge in Abu Dhabi ruled in favour of Dubai Islamic Bank and against the administrators of NMC, in a case that could complicate the private healthcare firm's multi-billion-dollar debt restructuring.
DUBAI/RIYADH, July 22 Saudi Arabia will look to
sell assets in sectors not previously considered for
privatisation, the country's finance minister said on Wednesday,
as the country contends with the economic impact of sustained
low oil prices.
DUBAI A group of creditors has hired financial adviser Rothschild and law firm Clifford Chance to help oppose the terms of a proposal by Dubai-listed Emirates REIT to exchange $400 million in Islamic bonds for new instruments, sources said.