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Saturday, 3 March 2018

Banks’ private sector credit at QR463.4bn - The Peninsula Qatar

Banks’ private sector credit at QR463.4bn - The Peninsula Qatar:

"Qatar banks’ assets (and liabilities) has increased QR3.1bn to QR1.366 trillion by the end of January 2018, compared to previous month; and recorded an 8.3 percent growth or QR104.8bn increase on year-on-year. 

A reading of the banks’ consolidated balance sheet figures by The Group analysts has noted that the total domestic private sector deposit at local banks was increased by QR2.1bn to QR358.6bn, by the end of January.

The banks’ total loans and credit facilities to local private sector increased QR1.9bn to QR463.4bn. The credit facilities to the real estate sector stood at QR146.7bn in January, while individual consumer loans amounted to QR123.4bn. The credit facilities to the trade stood at QR67.5bn and services at QR62.6bn. The loans and facilities amounting to QR17.4bn went for the non-banking financial sector."



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GCC growth in strong rebound | ZAWYA MENA Edition

GCC growth in strong rebound | ZAWYA MENA Edition:

"The GCC countries are marking a turning point in 2018 as their economies overcome two difficult years of a low oil price environment and various austerity measures, economists and analysts said. While the combined GDP of the GCC is expected to hit 2.4 per cent from 0.1 per cent last year, expanding at the fastest rate since 2015, the wider Middle East region's GDP is expected to grow 2.9 per cent in 2018, up from 1.1 per cent in 2017. Mohamed Bardastani, ICAEW economic advisor and senior economist for Middle East at Oxford Economics, said Middle East economies are recovering from the difficult years of a low oil environment, various austerity measures and geopolitical risks. "



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Etihad Rail revives Phase 2 of national railway network | ZAWYA MENA Edition

Etihad Rail revives Phase 2 of national railway network | ZAWYA MENA Edition:

"Etihad Rail is gearing up to launch construction tenders for the second phase of the UAE federal railway network, it was announced on Thursday. "The second phase will connect the UAE sea ports and the first phase. Etihad Rail is looking to appoint project managers for this phase," said Abdullah bin Mohammed Belhaif Al-Nuaimi, the UAE's Minister of Infrastructure Development and chairman of the Federal Transport Authority-Land & Maritime, at a press conference in Dubai, where he also announced approval of a new federal rail law by the UAE cabinet. The second phase of the Etihad Rail project will connect the railway to Mussafah, to Khalifa Port in Abu Dhabi and Jebel Ali Port in Dubai, and to the Saudi and Omani borders, according to Etihad Rail's website."



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