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Emirates vows to protect national banking system : The United Arab Emirates promised Sunday to protect the nation's banks as leaders tried to quell growing fears the global credit crisis will hurt the booming Gulf economy. The...
Reuters - European governments are ready to help banks weather the financial crisis by guaranteeing some of their lending and other measures, according to a document being discussed by leaders trying to stem panic on markets.
Stock markets across the Middle East traded sharply down Sunday amid fresh concerns about the global financial crisis, as the United Arab Emirates said it would guarantee deposits in local banks in a bid to halt the slide.
