Third-biggest Saudi bank sees more state spending on higher oil prices

Dubai: Samba Financial Group expects loan growth to pick up as higher oil prices enable Saudi Arabia to increase spending, the chief executive officer of the kingdom’s third-biggest lender said. “We are expecting loan growth because now oil prices are going up,” Rania Nashar told Bloomberg TV. “We’re seeing more government spending and also on […]

Global trade suffers with biggest drop since 2009

Zurich: Global trade has taken a sharp turn down, reinforcing the view that the world economy is in its worst state since the financial crisis a decade ago. Figures show trade fell 1.8 per cent in the three months through January compared with the previous period. That’s the biggest drop since May 2009. On a […]