Bollywood celebrities have gathered in Abu Dhabi for the grand award show
The bank will exchange bonds issued in 2006 that mature in 2016 and which are trading below face value for shorter term bonds that mature in 2012 in a move to strengthen its balance sheet.
“From this transaction, we can improve our Tier 1 Capital position while investors are in higher value security,” said Chief Executive Rick Pudner.
Chief Financial Officer Sanjay Uppal was quoted last month as saying the bank’s Tier 1 capital adequacy ratio stood at 9.4 per cent and that the bank must raise Dh3 billion next year in order to meet 2010 targets.
UAE banks have sought to strengthen their capital adequacy ratios following new rules issued by the country’s Central Bank.
Bollywood celebrities have gathered in Abu Dhabi for the grand award show
The captain said he was proud to represent UAE in an international arena
With scores of applications being submitted, authorities have found more ways to provide flexibility to amnesty-seekers
The statement comes after Israel claimed to have killed Hezbollah's leader and said they are ready for broader conflict
This comes after the Israeli military announced the killing of Nasrallah, and said Israel is ready for wider escalation
The Islamic republic's supreme leader Ayatollah Ali Khameni has been transferred to a secure location, sources say
Haddad, a project to enhance security of the Emirates' water areas, is the first-of-its-kind in the region
A Dh50,000 fine was also imposed on the impounded vehicles