Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency Issuer Default Ratings (IDR) at AA with a stable outlook. The country ceiling has been affirmed at AA+ and the short-term foreign currency IDR at F1+. Fitch says Kuwait’s ratings…
Month: June 2015
Etihad launches daily flights to Edinburgh
Etihad Airways, the national carrier of the United Arab Emirates, this week starts daily flights between Abu Dhabi and Edinburgh. Edinburgh is Etihad Airways’ first Scottish destination, and its third point in the UK, alongside a triple-daily operation to London Heathrow…
NBAD sells $750 million perpetual bonds
National Bank of Abu Dhabi’s (NBAD’s) inaugural dollar-denominated Tier 1 offering – a $750 million perpetual bond — was priced on 10 June. The bonds mature in five-years. They are rated at Baa3/BBB- by Moody’s and Standard & Poor’s respectively.…
UAE aiports handled 101 million passengers in 2014
More than 101 million passengers including more than 71 million passing through Dubai International Airport passed through UAE airports in 2014, President of Dubai Civil Aviation Authority (DCAA) and Chairman of Dubai Airports Sheikh Ahmed bin Saeed Al Maktoum said…
Fitch downgrades Bahrain’s foreign currency rating
Fitch Ratings has downgraded Bahrain’s long-term foreign currency issuer default rating (IDR) to BBB- from BBB and long-term local currency IDR to BBB from BBB+. The outlooks are stable. The issue ratings on Bahrain’s senior unsecured foreign and local currency…
IMF forecasts healthy growth for Saudi Arabia in 2015
An International Monetary Fund (IMF) team led by Tim Callen held discussions from May 17–28 on the 2015 Article IV Consultation with Saudi Arabia. At the conclusion of the mission, Callen made the following statement: “The decline in oil prices is…
IMF says UAE growth to slow in 2015
An International Monetary Fund (IMF) mission, led by Mr. Zeine Zeidane, visited the United Arab Emirates (UAE) from May 24 to June 4, 2015 for the annual Article IV discussions. The consultation will conclude with the preparation of a report…