OIL PLAN | Page 2 NSE OUTAGE | Page 3 Aramco Sensex hits to spend record; rupee $300bn advances Tuesday, July 11, 2017 Shawwal 17, 1438 AH BMI REPORT: Page 16 GULF TIMES Qatar’s consumer spending expected to expand 3.2% this year BUSINESS Saudi, UAE banks...
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OIL PLAN | Page 2 NSE OUTAGE | Page 3 Aramco Sensex hits to spend record; rupee $300bn advances Tuesday, July 11, 2017 Shawwal 17, 1438 AH BMI REPORT: Page 16 GULF TIMES Qatar’s consumer spending expected to expand 3.2% this year BUSINESS Saudi, UAE banks Qatar can weather the stand to lose if they cut financial ties blockade with huge with Qatar: BAML By Santhosh V Perumal Business Reporter reserves: QCB governor Reuters Banks in Saudi Arabia and the UAE will be “materially impacted” should the Gulf Cooperation Council (GCC) decides to sever financial ties with Qatar, according to Bank of America-Merrill Lynch (BAML). Estimating $35bn (20% of gross domestic product) in Qatar’s banking sector capital outflows within one year if the GCC Dubai decides to sever financial ties, BAML said “these large holdings would nevertheless directly or indirectly cause material mark- to-market losses to Saudi Arabia and he UAE banks as they Q atar has $340bn in reserves that could represent 2.5%-5% of
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