Saudi imposes 24-hour curfew in several cities including Riyadh, Dammam
Saudi Arabia has imposed a 24-hour curfew in several cities across the kingdom including capital Riyadh to curb the spread…
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Jordan Central Bank Says Too Early to Predict Impact of Coronavirus on GDP
Jordan’s central bank governor, Ziad Fariz, said on Monday it was too early to predict the extent of the negative…
Kuwait’s Wealth Fund on Standby as Oil Price, Virus Hit Finances
Kuwait’s government has discussed the possibility of turning to the sovereign wealth fund for a loan should the oil-price slump…
Dubai’s Emaar chairman takes 100% salary cut, assures employees ‘this too shall pass’
Chairman of Dubai-based property developer Emaar, Mohamed Ali Alabbar, has taken a 100 per cent salary cut, in response to…
Bahrain’s banking system grows 4.6% in 2019
Bahrain’s banking system’s (retail and wholesale banks) total aggregate balance sheet increased to $204.9 billion by the end of 2019,…
COVID 19 fight: UAE banks ready to meet challenges
The UAE’s banking sector will stand with the nation and its people to face the challenges posed by the coronavirus…
Blockchain paves the way for genuine innovation in Islamic finance
With the coronavirus continuing to ravage the world and close to a fifth of the world’s population — or 1.5bn…
GCC banking sector may see a ‘second wave’ of M&A, says S&P Global Ratings
The GCC region may see a “second wave” of mergers and acquisitions, S&P Global Ratings said, and noted that it…
Qatar banks post 13% jump in domestic credit to QR1tn at end of February: QCB
Loans to the trading and services sectors were in the overdrive, helping Doha’s commercial banks witness more than 13% year-on-year…
Lebanon to audit central bank accounts
Lebanon will audit its central bank’s accounts in a bid to show transparency after launching debt restructuring talks with creditors,…
Lebanese banks set 2,600 pounds to dollar rate for small accounts
Lebanese banks are to apply an exchange rate of 2,600 pounds per dollar for withdrawals from small accounts of up…
Tabreed buys 80% of Emaar’s Dubai cooling business
Dubai-listed National Central Cooling co (Tabreed) has bought an 80 percent stake in Emaar Properties’ Downtown Dubai district cooling business…