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Global disasters likely to deepen over 6 months: UNA group of UN experts tasked with forecasting the next disasters likely to require billions of dollars in humanitarian aid has warned of deepening crises in global hotspots from Burundi to Afghanistan over the next six months. In More… |
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Global crisis boosts sukuk growthThe issuance of Islamic bond (sukuk) is gaining acceptance in markets beyond its established strongholds in Malaysia, Indonesia, and the GCC region, according to a report by Standard & Poor's. The ratings services in it recent More… |
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Global crisis impact on Mideast 'limited'Fitch Ratings said that although growth in the Middle East and Africa (MEA) region will slow in 2012 to four per cent from almost 5 per cent this year, tracking the global slowdown, the broader impact on the region's countries will be limited. More… |
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UAE banks 'to have no impact from turmoil'The banks in the UAE are in a good position and should not be affected by turmoil in global financial markets, the Opec country's central bank said on Wednesday. In November, the central bank governor of the world's No. 4 oil expor More… |
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Dubai banks 'can beat global financial crisis'Local banks in Dubai have sufficient liquidity to weather a global downturn, the chairman of the Gulf's largest bank and a key figure in its recovery from a 2009 debt crisis said. Shaikh Ahmed bin Saeed Al Maktoum, who is also chairman More… |
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Greece warns on debt swapGreece warned it may opt out of a debt swap crucial to its second international bailout if too few investors rally behind it, raising the ante on the stricken country's 150 billion euro ($215 billion) lifeline. The swap to shave 37bn e More… |
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All eyes on Bernanke as recession loomsWith the global economy sputtering and financial markets on the rocks, the world needs reassurance the US central bank stands ready to save the day. Federal Reserve Chairman Ben Bernanke will make a speech on Friday at a lodge in Wyoming& More… |
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Saudi public spending 'unharmed by oil fall'Top oil exporter Saudi Arabia will keep its public spending plans intact despite a recent fall in oil prices and its lenders will resume "normal business" this year after a difficult 2009, top officials said on Tuesday. More… |
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UK faces 'enormous' economic challengeThe British economy is in a dire state and there will be difficult times ahead as the government takes action to tackle a record budget deficit, new finance minister George Osborne said. Osborne took up the role this week after the centre- More… |
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Gulf economies 'gaining in strength'Bahrain has made exceptional progress in establishing stability and prosperity for its citizens, as indeed have many of the other Gulf states. 'But whatever our own achievements as states - large and small - we are all increasingly bou More… |
