Connect to share and comment

UAE banks safe and sound: central bank

UAE banks safe and sound: central bank DUBAI, Nov. 27 (Xinhua) -- The central bank of the Unites Arab Emirates (UAE) said on Wednesday that the banking system in the Gulf state was "safe and secure" after the 2008 global financial crisis, local news agency WAM reported. The central bank governor Sultan Al-Suwaidi said in a media briefing that "all confidence in the UAE banks is justifiably strong, thanks to effective supervision and cautious mechanisms in place to safeguard the system."

Investors less willing to bet on emerging markets

Plans by the US Federal Reserve to wind down its monetary stimulus and slower growth prospects in emerging markets will lead to a reduction in the inflow of private capital to these countries, the Institute of International Finance said Wednesday. "Investors have become increasingly concerned about the market impact of the Fed's exit from accommodative monetary conditions, particularly against the backdrop of slower growth in key emerging economies," IIF Executive Managing Director Hung Tran said in a statement.

Irish bankers joke over bailout at EU's expense

By Carmel Crimmins and Steve Slater DUBLIN/PARIS (Reuters) - In the sort of scene that must infuriate Chancellor Angela Merkel, Irish bankers were taped laughing about a bank bailout deal and then mocking the European Union's paymaster by singing the German national anthem.

IIF warns G20 against financial rules disarray

The global banking industry on Monday urged the Group of 20 economic powers to deliver on pledges to harmonize financial regulation, warning their commitment appears to be fraying. The Institute of International Finance said its members were "deeply troubled" by the current trend toward "increasingly fragmented financial regulation." The tendency of nations to act to protect their own financial service sectors and taxpayers against future global risk "is threatening to undo decades of cross-border cooperation," the IIF said in a statement.
Syndicate content