Archives for the ‘Finance’ Category
  Young and in debt»

More than a quarter of Arab youths owe money, mostly in the form of credit cards and personal loans. But how did they borrow so easily?

March 7, 2010

Neither a borrower nor a lender be»
Despite a slight upturn in lending, some say UAE banks are still reluctant to grant personal loans. But others believe that consumers are the wary ones.

February 24, 2010

Plus ça exchange»
The democratization of investment in the form of exchange traded funds is arriving in the Middle East. Can they change the investment landscape?

February 21, 2010

Mind the budget»
The General Auditing Bureau in Saudi Arabia has accused some government departments of mishandling their budgets, reports Arab News.

January 11, 2010

Agility still in hot water»
Agility’s high-profile tiff with the US government continues. The firm is currently in talks with the US government to settle the matter out of court.

December 29, 2009


Feeding off each other»

DIFC is the world’s 7th most competitive financial center, while Dubai is the 10th, according to a report by the DIFC and KPMG in the UAE. The authorities claim that DIFC’s success-story is boosting Dubai’s profile. How?

December 22, 2009


Local knowledge»

After the global financial crisis ripped through the region’s economies, financial institutions are going back to basics, reports Trends magazine.

December 21, 2009


One debt down»

The Abu Dhabi government has given Dubai $10 billion to help pay off its debt, including Nakheel’s $3.52 billion Islamic bond that matures today.

December 14, 2009

Dubai’s supporters»
The emirate’s recent debt problems may have shaken the world, but Dubai will bounce back and will soon be back on its feet, say authorities.

December 10, 2009

Pulling the cords»
The UAE government is planning to introduce a unified lending system for all the banks across the country.

December 9, 2009

Istithmar loses millions»
Istithmar World, part of Dubai World, lost rights to the W Union Square New York hotel in a foreclosure auction in the New York.

December 9, 2009

It’s crunch time»
The director general of Dubai’s department of finance has said Dubai World, not the government, may sell assets globally to help cope with its debts.

December 7, 2009

Dubai’s debt debacle»
Authorities in Dubai claim the media over-hyped the emirate’s announcement of a six-month debt standstill for two of its major companies. But international bodies are still monitoring the situation.

November 30, 2009

Exposed, and it hurts»
Thirteen UAE banks, and seven foreign branches in the Emirates have a combined exposure of $2.9 billion to the Saad and Algosaibi groups, the Central Bank said on Wednesday. The bank insists everything is going to be ok. Is it?

November 19, 2009

To bail out Kuwaitis, or not?»
The debt debate rages on in Kuwait.

November 18, 2009