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Dubai Government category
UAE banks cheer S&P upgrades
Banks yesterday welcomed a move by Standard & Poor’s to upgrade the creditworthiness of Mashreqbank, based in Dubai, and factor an increasing level of government support into ratings of other lenders in the UAE.
Moody’s:No Negative Imp For UAE Banks From Dubai World Restruc
The plan to restructure the debts of struggling conglomerate Dubai World Group is unlikely to have direct negative rating implications for banks in the United Arab Emirates, Moody’s Investors Service said Thursday.
MENA equities outperformed global markets in March
INTERNATIONAL. MENA equity markets outperformed global markets this month as the MSCI Arabian Markets Index climbed 6.4% on the back of positive performances from all regional markets.
How Dubai’s $14 billion dream to build The World is falling apart
The two-storey luxury villa rises up like a Bond villain’s lair from the immaculately manicured lawn.Swaying palms shade it from the glaring Arabian sun and shelter it from prying eyes. To one side is an infinity pool, while on the other the alluring turquoise of the Persian Gulf, teeming with silver fish, appears to stretch out to infinity itself.
Moody’s Dubai World concerns lift
Dubai World, one of the government’s biggest holding companies, last month presented its restructuring proposal on more than $24bn in debt. DP World has been so far “ringfenced” from the broader restructuring, which is focusing on the holding company and development arm Nakheel.
