The crisis in Spain may well prove more significant than the drama playing out in Greece, said the head of currency strategy at BNY Mellon, a leading assets management and securities services company.
Spain’s version of the Euro-area crisi
Egypt will offer its citizens living outside the country $2 billion in three- and five-year certificates of deposit (CDs) within one or two weeks, the finance minister said on Wednesday.
The CDs will carry an interest rate of "no more tha
Abu Dhabi Commercial Bank (ADCB) said on Thursday it was suing Credit Suisse for selling it an investment in an unacceptable way and failing to disclose conflicts of interest.
Credit Suisse declined to comment.
ADCB said in 2007 it
The cost of insuring Dubai sovereign debt against default or restructuring rose to a two-month high after news that a company in one of the emirate's conglomerates had missed two payments on separate loans in recent weeks.
European finance ministers prepared on Monday to discuss tighter regulation on hedge funds a week after launching a $1 trillion debt rescue plan, as the euro was hit by fears austerity measures would stifle recovery.
The cost of insuring Dubai's debt against restructuring or default fell on Wednesday and troubled Dubai World subsidiary Nakheel's 2011 Islamic bond rose as markets awaited a restructuring deal for the conglomerate.
Dubai World wil
Hopes of progress this week on Dubai World $26 billion debt restructuring lifted stocks and eased fears of default but potential divisions emerged among creditors to the state-owned conglomerate.
Dubai World could put its plan to a credito
The cost of insuring Dubai's debt against default fell and Dubai World subsidiary Nakheel's 2011 bond rose on Monday as bankers expect a Dubai World restructuring deal this week.
Dubai World expects to put its plan for repaying $26 billion
The cost of insuring five-year Dubai debt against default jumped to its highest level since March on Monday as concerns intensified over the debt restructuring of state-owned conglomerate Dubai World.
Nervousness over the fate of Dubai Wor
Dubai debt insurance costs surged to 2-1/2 month highs and bond yields rose as growing uncertainty over the fate of the debt-laden conglomerate Dubai World sent investors scrambling to hedge their exposure.
The five-year 2014 bond issued l