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Exposure deadline for UAE banks stays: cbankBanks in the United Arab Emirates will not be given an extension of the September 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. & More… |
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ENBD to pay for exposure to state-linked firmsEmirates NBD, Dubai's largest bank, will see its quarterly results hit again by its exposure to state-linked companies, in the latest sign of the toll taken by its status of the emirate's lender of last resort. The bank, formed at the beh More… |
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US tax law 'may hit Bahrain firms'The US Foreign Account Tax Compliance Act (Facta) will affect almost all financial institutions and other entities in Bahrain with exposure to US taxpayers and transactions, according to KPMG. The Facta legislation and its impact on the en More… |
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UAE rules out exposure to euro zone debtThe UAE central bank has no exposure to euro zone debt in its reserves and it only invests in countries and corporates rated AAA as required by law, a senior central bank official said. Gulf oil exporters such as the UAE mainly invest in d More… |
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UNB seen with $354m Dubai World exposureUAE lender Union National Bank (UNB) may have up to Dh1.3 billion ($353.9 million) exposure to state-owned conglomerate Dubai World, Nomura said in a research report on Monday. Abu Dhabi-based UNB may not have booked any specific provision More… |
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ADCB has $1.8bn Dubai World exposureAbu Dhabi Commercial Bank (ADCB) said on Saturday it had Dh6.6 billion ($1.8 billion) worth of exposure to indebted state conglomerate Dubai World and posted a second-quarter loss. The lender reported a net loss of Dh531 million in the sec More… |
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ADIA says no plan to cut Europe exposureThe Abu Dhabi Investment Authority (ADIA) is not planning to cut its exposure to debt-ridden Europe, saying a stable regulatory, legal and tax framework make it an attractive place to invest. "No, (we) maintain a stable view," Jean-Paul Vi More… |
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Bahrain to tighten banks' credit exposuresThe Central Bank of Bahrain (CBB) launched a consultation process on Sunday with banks aimed at introducing tighter limits on banks' credit and asset exposures. The CBB said in a statement on its website it plans to introduce an upper limi More… |
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BMI Bank posts $32m Q4 lossBMI Bank, the Bahraini associate of BankMuscat, the largest financial services provider in Oman, has registered a BD12.2 million ($32.3 million) loss after provisions during the fourth quarter of 2009. Announcing its preliminary financial More… |
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UAE cbank to support local banksThe UAE central bank will be there to inject liquidity as needed into banks that face exposure to Dubai World, a source close to the Dubai government said on Monday. Dubai said on Monday it had received $10 billion from fellow UAE member A More… |
