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Examples
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"The U.A.E. (United Arab Emirates) is the more appropriate forum for determination of the primary actions, and they will be decided in the case that Mashreqbank has already commenced there," the judge said.
Ahab Case 2010
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Mashreqbank said in a statement that its claims "remain indisputable and we will continue to aggressively pursue those claims in the U.A.E. courts."
Ahab Case 2010
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"This obviously represents a step forward," said Abdulkadir Hussein, chief executive of Mashreq Capital, the investment unit of Mashreqbank, which has exposure to Dubai World debt.
Dubai World Weighs Debt Deal for Banks Mirna Sleiman 2010
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Ahab filed its suit against Mr. Sanea after Mashreqbank sued Ahab in New York state court, claiming it is owed $150 million by Ahab.
Ahab Case 2010
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"This obviously represents a step forward," said Abdulkadir Hussein, chief executive of Mashreq Capital, the investment unit of Mashreqbank, which has exposure to Dubai World debt.
Dubai World Weighs Debt Deal for Banks Mirna Sleiman 2010
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The agency placed its long-term counterparty credit ratings on Emirates Bank International, National Bank of Dubai, Mashreqbank, and Dubai Islamic Bank on credit watch with negative implications.
Dubai Suffers Downgrades; S&P Expects Debt Burden to Soar 2009
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Ahmed Hamad Al Gosaibi & Brothers, or Ahab, filed the suit against Mr. Sanea in response to a case filed in May against Ahab by United Arab Emirates-based lender Mashreqbank over $150 million that the bank alleges it is owed by Ahab.
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U.A.E. banking giant Mashreqbank said Saturday that third-quarter net profit fell 12.5% to 346 million dirhams from a year earlier on investment losses.
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"Some United Arab Emirates issuers could list in Saudi Arabia and attract decent liquidity and valuations," said Dubai-based Ibrahim Masood, who helps manage about $400 million at Mashreqbank PSC.
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"Saudi Arabia seems to be opening itself up to the world here," Mashreqbank's Masood said.
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