Banking Risks To Business Environment

Without an additional oil price windfall - and we think a decline is more likely than a rally at this stage - we do not see where the recovery will come from. The turmoil elsewhere in the financial sector continues: Gulf Finance House's share price in particular is taking a pounding, as the troubled firm seeks to stave off default by offloading assets to pay a rescheduled US$100mn loan. It has agreed to sell its share in the Bahrain Financial Harbour to Emaar Bahrain, which is good news in terms of meeting the loan payment, but does not leave it

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