Genel Energy said it expected to book about $1 billion in impairment to the 2015 value of its Taq Taq oilfield in Iraqi Kurdistan, citing reduced estimate for recoverable reserves there and falling oil prices.
Abu Dhabi-listed Dana Gas reported a fourth-quarter loss on Thursday that the company blamed on lower oil prices and an impairment charge.
Dana Gas, based in Sharjah, one of the seven emirates in the UAE, made a net loss of Dh15 m
National Bank of Abu Dhabi (NBAD) on Tuesday posted a one per cent decline in fourth quarter net profit, missing analysts' forecasts, as the UAE lender was hurt by rising impairment charges.
The country's largest bank market value,
Majority of the banks in the Middle East and North Africa region expect impairment accounting proposals to improve financial statements, according to a survey by leading audit firm Deloitte.
The Mena-headquartered banks believe that Intern