Falling oil prices puts small UAE businesses at risk of default - FT.com:
"Banks facing a surge in defaults on small company loans are closing off credit to the sector in the United Arab Emirates, in a sign of the increasingly brittle business confidence in the Gulf amid a sustained slump in oil prices.
AbdulAziz al Ghurair, head of the UAE Banks Federation, estimated loans to small and medium-sized enterprises totalling between Dh5bn and Dh7bn ($1.36bn-$1.9bn) were at risk of default after the country’s national body that pools information on banks’ loan exposure revealed over-borrowing by SMEs."
'via Blog this'
No comments:
Post a Comment