Abu Dhabi banks invested $7.1b in debt securities in 2020

SourceArab News
SectorFinancial Services

DUBAI: Abu Dhabi banks have invested AED 26. 1 billion ($7. 1 billion) in debt securities in 2020, according to data released by the UAE Central Bank. The new figure brought the capital's banks cumulative debt securities investments to AED 208.

6 billion by the end of December last year. Debt securities, such as bonds, are among the popular investment forms in the UAE banking sector. UAE banks' total investment in debt securities comprise 63. 7 percent of their total balance in their investment vehicles, which include equities and held-to-maturity bonds. LONDON: Britain's Rolls-Royce named Panos Kakoullis as its new chief financial officer, picking the former head of Deloitte's audit and assurance practice to help steer its cost-cutting and simplification as it tries to ride out COVID-19. The pandemic has shattered Rolls-Royce's finances because it is paid by airlines on a flying-hours basis, and the company warned in January that the start of this year was even more difficult...read more...