The city's public transport system has many strict rules and regulations in place to ensure that everyone can have a safe and enjoyable journey
Morgan Stanley & Co., Bank of New York Mellon Corp. and three securities ratings services have been sued by Abu Dhabi Commercial Bank for allegedly rating too highly a structur ed investment vehicle that collapsed last year. The ADCB seeks unspecified money damages and class-action or group status on behalf of everyone who invested in the vehicle launched by Cheyne Finance Plc from October 2004 to October 2007, according to a complaint filed yesterday in federal court in Manhattan.
"The financial instruments plaintiff purchased which defendants represented had high investment-grade credit ratings are now worth zero,'' lawyers for the bank said in the complaint.
Cheyne's structured investment vehicle, premised on short-term borrowing to buy higher-yielding assets, collapsed last year. Investors have recovered about 55 per cent of the face value of their holdings in an auction of Cheyne's assets. The SIV had owed about $5.7 billion in senior debt, according to its receivers at the accounting firm of Deloitte & Touche LLP.
The city's public transport system has many strict rules and regulations in place to ensure that everyone can have a safe and enjoyable journey
Palestinian Ambassador to UNESCO Monir Anastas said the 'inscription is a message of hope to our people in Gaza, who are fleeing bombs with no shelter, no food or water'
The said delays are expected between the intersection of Hatta Road and Al Ain Road towards Abu Dhabi
Veerendra Kumar said he was cheated by a job agent who had promised him a job in Qatar but sent him to Saudi
The government authority announced the road closure on social media platform X
Around 800,000 passengers are expected to be affected over the weekend as the damage is heavy and labour-intensive to repair
A total of 17 candidates secured the All India Rank (AIR) 1 as per the final results while earlier the number was 67
Authority said the exercise will involve movement of military vehicles and urged residents to stay away from designated areas