09.02.2009 - Gulf progresses on bailouts
From Thenational.ae: In Saudi Arabia, the region’s largest economy, authorities have pumped about $3bn into the banking system. The Kuwait Investment Authority, the country’s sovereign wealth fund, is said to have invested in stocks on the Kuwaiti market. And the UAE’s Central Bank last year made Dh120bn available to banks in an effort to restart lending, but the Emirates interbank offered rate – an average of interest rates banks charge each other for loans – has failed to dip significantly as a result..... Full Article: Source