Hopes may be disappointed for an influx of money from Qatar and other Gulf states into battered European banks, since Gulf investors are likely to see many of the banks as too risky and out of line with their investment strategies.
The weakest quarter of economic growth is probably the one that is coming to an end. That is the view of Royal Bank of Scotland head of fixed income research, Kit Juckes.
Juckes was in Bahrain last night as a guest of the Bahrain chapter o
Government measures taken so far to support Dubai through a sharp economic downturn should be sufficient to stabilise its economy for at least nine months, the United Arab Emirates' economy minister has said.
Sultan Al-Mansouri also sa
Scholars, lawyers and investors will gather on Tuesday to discuss the future of Islamic finance amid the global financial crisis.
Islamic finance had been seen as relatively safe until recently, because its ban on interest and strict guide
American International Group, rescued twice last year by the US government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said.
It would be the biggest loss in a qua
Global growth will be very weak next year, a senior European banker warned yesterday.
The loans to companies and household in the euro zone has stagnated, raising new concerns about the extent of the credit crunch.
Saudi Arabia has no need to merge its banks in response to the global financial crisis, the kingdom's central bank governor said on Wednesday, dampening speculation that such a move may be at hand.
"They don't need any assistance, they are
Central banks are likely to launch new coordinated emergency action this week to calm the panic sweeping financial markets, which could be rocked further by data pointing to global recession.
The US Federal Reserve is widely expected to cu
Saudi Arabia and the United Arab Emirates poured up to $10 billion into their banks to ease tight conditions as Gulf policymakers prepared to discuss a coordinated response to the global economic crisis.
The Saudi central bank injected up
World stocks climbed for the third day in a row on Tuesday as investors bet governments would succeed in ending the credit crisis.
The euro hit 1-1/2 year lows against the dollar. Sentiment was boosted overnight by comments from US Federal