Higher debt provisions lead to Mizrahi outlook cut

David Beckham and Brad Pitt among celebrities caught up in Dubai ...

By: intellectual

David Beckham and Brad Pitt are believed to be among the stars caught up in Dubai's spiralling credit crisis. The pair have seen the value of property they bought in the Gulf plummet as Dubai struggles under a mountain of debt. Things have now gone from bad to worse after Nakheel, the island's developer, and its parent company Dubai World ...

10 days ago

Hang on! I (and millions of others) own this bank. Why did the ...

By: MarleneDuvalAndAssociates

THE state-owned Royal Bank of Scotland is planning to hand out record bonuses of up to £5m each in a snub to struggling taxpayers. The average employee in its high-risk investment banking arm is likely to take home £240,000, with the top 20 staff in line for payments of between £1m and £5m. The conduct of these banks is ...

about 1 month ago

Dubai's threat to U.S. banks

By: ASMASH

U.S. financial institutions can take major indirect hits by exposure to risk at Dubai’s world. Postponement of billion of dollars of debt is requested by sovereign wealth fund of Dubai that could be a major problem for US banks. New York-based Citigroup is most exposed to default risk at Dubai World, which a J.P. Morgan equity ...

9 days ago

CENTRAL BANKS SHIFT AWAY FROM US DOLLAR

By: WilliamC.Urban

Central Banks Lead Subtle Shift Away From Dollar Tuesday, November 3, 2009 4:42 PM Article Font Size   NEW YORK -- Central banks with trillions of dollars in reserves that are already stepping up euro and yen purchases will likely continue doing so in

about 1 month ago