Gulf International Bank (GIB) is the latest Middle East financial institution to take a hit from the US credit crisis.
The bank went into the red to the tune of more than $757 million last year as a result of subprime-linked exposure.
The worst of the banking crisis resulting from the subprime meltdown is likely to be over in months rather than quarters, Credit Suisse chief executive Brady Dougan has said.
Dougan said he was an optimist and it could take three, four, fi
Buyout firms face a return to basics as debt becomes harder to raise, say bankers who see the focus for returns swinging back from financial engineering to the skillful management of companies.
The debt stacked on to buyouts soared to reco