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Moody’s said that Islamic banks perform better primarily as a result of their low funding costs, which reflect their reliance on largely stable current and savings account balances. (File photo)

March 19th, 2017 - 06:00 GMT

Gulf Islamic banks set to outperform conventional banks for second year: Moody's

After trailing for five years, Islamic banks have become more profitable than their conventional counterparts in 2016 according to a report by Moody’s Investors Service.

Saudi Arabia is expected to increase its domestic gasoline prices by 30 per cent from July, but still has the cheapest gasoline prices in the world. (File photo)

March 1st, 2017 - 06:00 GMT

Saudi Arabia takes aim at budget deficit with fuel price hike, fiscal reform

The new merger, if agreed, would create an entity with total assets amounting to around QAR173bn ($48bn) and a market share of around 14 percent. (File photo)

February 21st, 2017 - 07:30 GMT

Proposed merger of Qatari bank trio would create country's second largest lender

Tourists queue in the Sharm el-Sheikh airport. (AFP/File)

August 10th, 2016 - 04:45 GMT

Eleven month after bomb attack, Turkish Air resumes flights to Sharm El-Sheikh

Because of Brexit, GCC banks which are looking for alternative sources of funding to compensate lower government deposits are unlikely to receive new external funding from the UK. (Shutterstock)

July 13th, 2016 - 09:00 GMT

Brexit impact on GCC sovereigns will be minimal: Moody's

Al Bawaba

October 20th, 2015 - 12:35 GMT

Tax reform or burning buffers? GCC approaches to the oil price slump

Al Bawaba

August 14th, 2015 - 07:00 GMT

Suez Canal will have limited positive effects on Egypt: Moody’s

The resurgence in US hiring accelerated in November and put 2014 on track to be the healthiest year for job growth since 1999.

December 8th, 2014 - 02:33 GMT

An economic comeback? US experiences highest job prospects since 1999

On 31 January 2011, Moody’s downgraded the government bond rating for Egypt from BA2 to BA1, and changed the outlook from stable to negative

October 21st, 2014 - 03:55 GMT

Not so moody anymore? Moody's upgrades Egypt's rating to 'stable'

Al Bawaba

March 2nd, 2014 - 07:03 GMT

What does Egypt's economy need? 'More than just a president'

Real GDP growth rates of 5.1 per cent for 2013 and 4.4 per cent for 2014

October 13th, 2013 - 12:19 GMT

Why Saudi Banks have a lot to gain from expansionary fiscal policies

In early November, international ratings agency Moody’s said it was maintaining its negative outlook for the UAE’s banking system

January 15th, 2012 - 05:50 GMT

Dubai banks: Time to tighten the belts

The Egyptian central bank has struggled to support the currency since the revolution early last year

January 2nd, 2012 - 09:32 GMT

Revolutions take a heavy toll on profitability of Arab banks