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20
Jan '14

But with less money to spend

canada goose clearance Gulf firms turn to banks to fund big projects as state coffers squeezed canada goose clearance

Canada Goose online DUBAI, Sept 9 (Reuters) Gulf state owned firms are increasingly turning to canada goose store banks to finance infrastructure projects, according to Societe Generale, as governments hit by lower oil prices seek commercial routes to see through extensive development plans. Canada Goose online

buy canada goose jacket cheap A drop in oil prices, which hit a six and a half buy canada goose jacket cheap year low last month, has pushed some Gulf state budgets into deficit for the first time in years, including in Saudi Arabia and Kuwait. buy canada goose jacket cheap

Canada Goose sale Despite this, governments canada goose clearance sale have maintained that infrastructure schemes canada goose uk black friday deemed important to the economy will go ahead. But with less money to spend, they will be canada goose uk shop unable to canada goose write the huge cheques that had previously canada goose black friday sale funded schemes. Canada Goose sale

canada goose black friday sale Liquidity in the Gulf banking system is also tightening, as government deposits have declined, potentially opening the door for Canada Goose online international players to regain market share lost in the wake of their canada goose factory sale own pull back after the global Canada Goose Coats On Sale financial crisis when cash rich local banks stole a march. canada goose black friday sale

canadian goose jacket government related entities (GREs) are more uk canada goose keen to have their projects funded by banks, cheap Canada Goose as opposed to expecting the state to finance it directly, said Richad Soundardjee, Societe canada goose coats Generale chief regional officer for the Middle East. canadian goose jacket

canada goose He added SocGen France second biggest listed lender had very canada goose coats on sale good pipeline of projects for this year and next in the cheap canada goose uk Gulf, without elaborating. canada goose

Canada Goose Outlet Evidence of GRE fundraising is growing: Saudi Electricity Co is seeking loans worth Canada Goose Parka around $2.3 canada goose clearance billion and setting up a sukuk programme worth $1.5 billion, while Oman Oil Refineries and Petroleum Industries Co (ORPIC) will borrow to finance 70 percent of its planned $5.2 billion plastics production complex. Canada Goose Outlet

canada goose clearance sale Saudi Aramco is looking for a $5 billion loan to extract cash used to build a refinery in a joint venture with China Sinopec to spend on other projects. canada goose clearance sale

canada goose deals SocGen has invested in its capabilities in this area in recent months, taking on more staff in Dubai to launch a finance team in May to handle infrastructure financing. canada goose deals

canada goose store Soundardjee declined canadian goose jacket to give firm numbers about the new team specifically, but said the corporate 2018 Canada Goose and investment banking (CIB) department it is part of had grown between 10 15 percent in the Middle East buy canada goose jacket since he took over in October 2013. canada goose store

cheap Canada Goose The structured finance team forms part Canada Goose sale of Soundardjee five year plan to uk canada goose outlet expand the French bank operations in the canada goose uk outlet Middle East, Canada Goose Outlet which also includes combining the lender CIB https://www.canadagooseoutlete.com/ operations into one entity with private banking and brokerage to Canada Goose Online increase cross selling opportunities. cheap Canada Goose

Canada Goose Jackets The final aspect of that the integration of the Newedge brokerage arm will be completed later this month, he said. Canada Goose Jackets

Canada Goose Parka The bank is also seeking to expand its GRE and corporate client base, initially through higher lending. Canada Goose Parka

buy canada goose jacket we don see ourselves as only a lending bank, we also understand that you have to show balance sheet commitment to get access to business with more Canada Goose Jackets value add, Soundardjee said. (Editing by Pravin Char) buy canada goose jacket.

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