Tuesday, 1 March 2011

UAE to invest 150 mln euros in Spanish savings bank | Reuters

The United Arab Emirates will invest 150 million euros ($207 million) in a Spanish savings bank, a Spanish government spokesman said on Tuesday, the second Middle Eastern country to back Spain's regional banks.

The government official did not name the bank. The Spanish savings bank association, CECA, declined to comment.

Qatar said on Monday it would invest 300 million euros in Spanish banks, during the visit of Spanish Prime Minister Jose Luis Rodriguez Zapatero to the Gulf state. Zapatero is visiting Tunisia, Qatar and the UAE as part of a Middle East tour. [ID:nLDE71R15R]

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