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HuaweiDUBAI — National Bank of Abu Dhabi PJSC, the United Arab Emirates second-biggest lender by assets, plans to sell five-year bonds in dollars, according to a banker involved in the deal.
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DUBAI — A US federal judge ruled that Morgan Stanley and two credit rating agencies must defend against fraud charges in a class-action lawsuit accusing them of masking the risks of an investment linked to subprime mortgages, and which eventually collapsed.
ABU DHABI — Emirates Steel, owned by the government of Abu Dhabi, will tap markets for about $600 million in the first quarter of next year to fund expansion and consolidate debt, its Chief Financial Officer said on Wednesday.
DUBAI --— Mashreq has launched a debt counselling service for customers struggling to repay their loans due to the credit crunch. The service called ‘Mashreq Assist’ will provide solutions to individuals and Small & Medium-sized Enterprise customers to restructure their outstanding cards, loans and facilities, easing the pressure of re-payment worries.
DUBAI – The market for Islamic bonds, or sukuk, shrank by 16 per cent during the first seven months of this year but could rebound in the near future thanks to a backlog of planned issuances, Standard & Poor’s said Wednesday.
DUBAI — Property and banking shares dragged down the UAE bourses on Wednesday, as investors darted toward the exits following a rout of overseas stocks amid growing worries about the health of the global economy.
DUBAI — Flydubai, Dubai’s first low cost airline, added a second African destination to its network on Tuesday when flight FZ601 touched down at Djibouti Ambouli International Airport.
DUBAI — The Dubai Department of Economic Development, or DED, and Commercial Bank of Dubai, or CBD, have signed a co-operation agreement to give customers the option of paying fees electronically.
ABU DHABI — Aabar Investments, the biggest shareholder in German automobile maker Daimler AG, posted a second-quarter loss due to losses from derivative financial instruments.
ABU DHABI — The United Arab Emirates Central Bank has delayed bank targets for increasing capital reserves as a buffer for surprise losses and changed the proportion of Tier 1 capital which banks need to set aside.