Tuesday 13 November 2018

Moody's assigns Ba1 rating to NMC's trust certificates

Moody's Investors Service has today assigned a Ba1 rating to the proposed USD-denominated trust certificates (or sukuk) of NMC Healthcare Sukuk Limited.  At the same time Moody's assigned a stable outlook to NMC Healthcare Sukuk Limited, a special purpose vehicle, wh


Abu Dhabi, Hungary sign economic cooperation

The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the Hungarian Chamber of Commerce and Industry aiming to create investment opportunities for the private sector and promote cooperation. The memorandum of understanding (MoU) was signed at the headquarter


UAE banks open 50 new ATMs in 12 months

The past 12 months saw the introduction of 50 new automatic teller machines (ATM) across the country, reported state news agency Wam, citing Central Bank of UAE statistics. The continual rise in ATMs reflects the UAE banking sector's commitment to forging ahead with


Refinitiv expands trading footprint in Middle East

Refinitiv (formerly Thomson Reuters Financial and Risk) has added Sunday trading capabilities to its equities trading platform and announced the adoption of REDI by Riyad Capital to enhance their trading execution capabilities in Saudi Arabia. Redi is an award-winning execution m


CNBC celebrates launch of new studio at Nasdaq Dubai

CNBC International, a leading business and financial news network, said that its president and managing director KC Sullivan rang the market-opening bell at Nasdaq Dubai today (November 7) to celebrate the launch of the network’s new studio at the exchange. The studio is lo


Five checks before taking out car insurance

Recently, the region's car insurance market has become more price-driven, said AXA, a leading insurance brand in the GCC, highlighting the top five questions one should ask oneself before taking out car insurance. Demand for car insurance usually spikes at the end of the year


Etihad Credit Insurance partners with Markel International

Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a MoU with Markel International, a specialist insurer that handles the commercial insurance and reinsurance needs of major businesses, SMEs, professionals and sole traders through its offices across the UK, Europe,


Bahrain bank exits Airbus aircraft investment, opens new hotel

Bahrain-based International Investment Bank (IIB) has announced a successful exit from its investment in an Airbus wide-body aircraft leased to a European airline, which generated an internal rate of return (IRR) of 18 per cent. The bank, which is owned by major investors from ac


ADFG chief Alseddiqi joins Dana Gas board

Dana Gas, the largest regional private sector natural gas company in the Middle East, has appointed Jassim Alseddiqi, an expert in the financial sector, as a member of the company’s board of directors, effective today (November 7). The company move comes following the resig


Gulf Capital to sell DOTW to Webjet for $173m

Gulf Capital, a top alternative asset management firm, has entered into an agreement to sell Destinations of the World (DOTW) to Webjet, a world leader in B2B travel, for $173 million, resulting in an IRR in excess of 15 per cent and making it one of the largest technology exits to date in the

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