Arabtoday - Tag

Bank

Crisis-stricken GE to unveil painful roadmap to recovery

New York - Arab Today

Iconic American industrial behemoth General Electric, which has lost investor confidence amid bad investment decisions, is preparing to slice up its empire again, selling major business segments and laying off thousands. Hammered by financial markets, with its market capitalization down more than $100 billion since January, the maker of jet engines and power turbines is paying dearly after making losingRead more

Term-deposits surge to AED782 billion

Abu Dhabi - Arab Today

Medium and long-term bank deposits increased by AED19.9 billion by the end of the first seven months of 2017, bringing to AED210 billion the total deposits held the banking sector, a growth of 7 percent over the corresponding period last year. Medium and long-term bank deposits now make up 27 percent of the total term deposits, valued at AED782 billion, accordingRead more

20 dead, 50 wounded in Afghan car bombing: official

Lashkar Gah - Arab Today

A car bomb that struck a bank in southern Afghanistan Thursday left at least 20 people dead and 50 wounded, a government spokesman said. "The blast killed 20 people and left 50 others wounded, both civilians and military officials," Omar Zwak said, warning that the toll could rise.Read more

Bank loans must be repaid even if you lose your job

Abu Dhabi - Arab Today

he bank will consider repayment of a bank loan and your employment as two unrelated issues and repayment of bank loan should not relate to your employment. Once you avail a loan from a bank, you are liable and responsible to pay the installments on timely basis even if you are not employed. There is no legal option available toRead more

India moves resolution of $150b bad debt problem into cenbank's court

Abu Dhabi - Arab Today

India on Friday tweaked its laws to help tackle a record $150 billion in troubled bank debts, giving its central bank greater power to identify and enforce resolution on specific soured loans. In an executive order that alters a Banking Regulation Act, the government authorised the Reserve Bank of India (RBI) to direct banks to initiate an insolvency resolution processRead more

Bank loans must be repaid even if you lose your job

Abu Dhabi - Arab Today

The bank will consider repayment of a bank loan and your employment as two unrelated issues and repayment of bank loan should not relate to your employment. Once you avail a loan from a bank, you are liable and responsible to pay the installments on timely basis even if you are not employed. There is no legal option available toRead more

IDA provides two grants worth $ 450 mln to Yemen

Washington - Arab Today

The International Development Association (IDA) of the World Bank Group has provided two new grants worth $ 450 million as an emergency support for the most vulnerable groups in Yemen. In a statement, which Saba received a copy of it, the World Bank Group said that the grants will fund two projects aiming at supplying the most vulnerable women andRead more

Byblos Bank in Jeitawi robbed at gunpoint

Ashrafieh - Arab Today

Byblos Bank - Jeitawi branch in Ashrafieh was robbed at gunpoint, the NNA correspondent reported. In detail, a man in dark glasses entered the bank carrying a rifle, threatening employees. He managed to loot a total of 40 million LBP and then fled. The security forces are working on inspecting the cameras placed in the vicinity of the bank. Source:Read more

Struggling Deutsche Bank raises fresh capital

Berlin - AFP

Germany's troubled lender Deutsche Bank (IOB: 0H7D.IL - news) said Friday it successfully raised 8.0 billion euros in fresh capital, as part of its efforts to get back on track after two straight years of losses. Deutsche Bank said it had issued 687.5 million new shares at 11.65 euros apiece. Some 98.9 percent of the new shares on offer wereRead more

China forex reserves rises for a second month in March

Beijing - AFP

China's foreign exchange reserves increased for a second month in row in March, rising by $3.9 billion, officials said Friday, as the yuan currency shows signs of stabilisation. The world's largest currency hoard rose to $3.01 trillion, data from the People's Bank of China (PBoC) showed, missing a forecast by Bloomberg News that reserves would rise to $3.011 trillion. TheRead more