The acquisition of a struggling Islamic lender by Dubai's largest bank Emirates NBD was bankrolled in part by neighbour Abu Dhabi, which helped Dubai avoid default just over two years ago, ENBD's finance chief said on Wednesday.
Ireland will seek a bailout from international lenders, Finance Minister Brian Lenihan said on Sunday, ending weeks of speculation that it would need aid to prop up its banks and help it secure cheaper state funding.
'I will be recomme
The Central Bank of Bahrain (CBB) is not prepared to bail out banks that are part of the country's offshore banking centre, its governor said in remarks published on Monday.
'We have been very clear over the years that the primary
The United Arab Emirates could be preparing to bail out real estate companies in the country and might restrict new supply amid a downturn in property prices, EFG-Hermes said.
"It is interesting that the government has yet to announc
Global recession fears returned to centre stage on Wednesday after trillions of dollars pledged by governments around the world for bank bailouts eased the threat of imminent financial meltdown.
In a reminder of the dire state of the world
Britain announced plans to inject up to 50 billion pounds ($87.2 billion) into its biggest retail banks on Wednesday and Hong Kong slashed interest rates to try to stem the global financial crisis.
British finance minister Alistair Darling
US Congress looked close to reaching a deal to approve a $700 billion plan to bail out the US financial system and President George W Bush called an emergency meeting for Thursday to hammer out details.
The move toward a deal will likely c