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UAE cbank extends lending cap by six monthsNational Bank of Abu Dhabi (NBAD) said the UAE central bank had extended its deadline to comply with limits on commercial banks' lending to state-linked companies by six months. The central More… |
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UAE banks ink $1bn Arabtec JV finance dealA consortium of UAE banks led by top lender Mashreq has secured a Dh4-billion ($1.08 billion) financing deal, with a joint venture between TAV-CCC-Arabtec for the construction of midfield terminal building at Abu Dhabi’s International Airp More… |
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UAE banks under pressure as Dubai debt talks falterThe UAE sentiment is seen negative and banks are likely to be hit after Royal Bank of Scotland and two other banks abandoned talks on restructuring Dubai Group's $10 billion debt and threatened legal action, said experts on Tuesday. Th More… |
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UAE banks told to cut debt burden of nationalsThe UAE central bank has directed lenders in the Gulf state to help reduce the debt burden of UAE nationals, with some bankers saying banks may have to write off certain personal loans. The central bank, after a review of personal loans, More… |
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Empower for district cooling units' mergerThe UAE district cooling companies should follow the trend of merger and acquisitions popular among the Emirati banks, in order to benefit from consolidation and economies of scale, said an industry expert. This strategic step will le More… |
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Banks 'may ease lending criteria for SMEs'The banks in the UAE are likely to ease their lending criteria in 2011 for the small and medium enterprises (SMEs), who form the backbone of the country's economy, said a study. The study, conducted by Jitendra Chartered Accountants, evalu More… |
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Banks told to raise Saad, Algosaibi provisionsThe UAE central bank wants lenders to raise to 80 percent their provisions against exposure to two Saudi conglomerates, according to newspaper reports on Monday, causing a decline in Dubai-based banking stocks. Arabic dailies Al Khaleej a More… |
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UAE banks told to book Dubai World provisionsThe United Arab Emirates' central bank has directed local banks with exposure to indebted conglomerate Dubai World to book 'appropriate' provisions in consultation with their auditors, bankers said on Friday. Banks in the UAE w More… |
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UAE banks told to take quarterly loan provisionsUAE banks have been told to take provisions for bad loans on a quarterly basis, in long-awaited guidelines from the central bank aimed at bringing the banking system in line with international standards. Banks in the UAE have suffered from More… |
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UAE banks rally after Dubai World debt dealBank shares were among gainers as Dubai's index hit a 16-week high on Monday, the first day's trade since Dubai World reached an agreement with all but one of its creditors to restructure $24.9 billion in debt. Although largely pri More… |
