UAE orders new $19 billion emergency funds for banks: WAM
Reuters - USA
DUBAI (Reuters) - The United Arab Emirates more than doubled its emergency bank funding plan to 120 billion dirhams ($32.67 billion) on Tuesday as Gulf Arab states stepped up moves to combat the global financial crisis.
Reuters - USA
DUBAI (Reuters) - The United Arab Emirates more than doubled its emergency bank funding plan to 120 billion dirhams ($32.67 billion) on Tuesday as Gulf Arab states stepped up moves to combat the global financial crisis.
But the Gulf Arab state left bankers guessing about how it would employ the 70 billion dirhams ($19 billion) of new cash -- the biggest Gulf cash intervention to date -- after the UAE central bank opened a 50 billion dirham emergency lending facility last month. ...
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