Riots shut down Bahrain banks

Most Popular posts from other blogs...

16 March 2011, last updated: 12: 16 GMT the closures came as they all said response to the growing turmoil and security all HSBC and Standard Chartered close their offices in Bahrain.

The decision came as the Bahrain stock exchange because of the State of emergency of the country was shut down.

The stock exchange was not under pressure prior to the conclusion, move in line with other world markets.

But costs of borrowing met the Gulf State a new high on Tuesday, the yield on your nine-year international bond was 6.84%.

The yield is increased by 2.1 percentage points since November, and is trading at a higher level than the much more heavily indebted Lebanon.

It was cut on Tuesday by A - to BBB - rating agency Fitch of the evaluation of the creditworthiness of the Kingdom of two notches so that it only a two hot about the risky "speculative grade" level.

Bahrain has debt outstanding billion - about 40% of its annual economic production - according to data from Bloomberg, of which about $2 billion to repay this year is due $7.

"National security"

Forces which had blocked Bahrain financial district of demonstrators in the streets, taken before the demonstrations were violently divided security targeted on Wednesday morning in the last few days.

Continue reading the most important story

Bahrain compared with other countries in the region, has no major mineral deposits "

end reporter, quoting Simon Atkinson business BBC News of the Bahrain stock exchange decision close" due to the Declaration of the national security in the Kingdom "was made, site of the stock exchange said in a brief statement on your."

HSBC and Standard Chartered quoted the security of its employees for their own decisions, invite to close.

You said that ATM and other automated banking services continued.

They are two of the largest foreign banks in the country, with eleven branches and 834 employees between them.