For full coverage of Middle East business events, see MEED NBK Capital said on 29 December that it had upgraded its recommendation for shares in National Bank of Abu Dhabi (NBAD) to buy from hold despite cutting their fair value…
Category: UAE
Saudi Arabia leads region in green buildings
Sabic’s Home of Innovation house(artist’s rendering) For full coverage of Middle East business events, see MEED Saudi Arabia now has the largest number of planned projects registered to compliant with green building ratings, MEED’s Saudi Mega Projects’ sustainability, energy efficiency and clean energy day…
Dolphin energy rating affirmed
For full coverage of Middle East business, see MEED Fitch Ratings has affirmed Dolphin Energy Limited’s (DEL’s) $1,250m 5.888 per cent secured bonds due 15 June 2019 and $1,300m 5.5 per cent secured bonds due 15 December 2021 at A+.…
UAE asset management market rises to $1.3bn
For full coverage of business developments in Iran and the Middle East, see MEED The UAE asset management industry manages $1,264.8m in assets in about 31 funds as of 21st July, 2015, according to Marmore’s UAE Asset Management report. Equity funds…
Jebel Ali Free Zone gets positive outlook from Fitch Ratings
For full coverage of business developments in the Middle East, see MEED. Fitch Ratings has revised Jebel Ali Free Zone’s (JAFZ’s) outlook to positive from stable and affirmed its long-term Issuer Default Rating (IDR) at BBB-. Fitch has also affirmed…
Daman launches employee health portal
Abu Dhabi’s national health insurance company Daman has launched an electronic portal free to all its corporate clients that allows organisations to create their own health campaigns. HealthGuardian supports human resource managers with communicating health news and allows the customisation of…
UAE economy to be lifted by 1 per cent by end of Iran sanctions
The UAE will be the principal Middle East beneficiary of the lifting of international sanctions on Iran as part of the Joint Comprehensive Plan of Action agreed between the Islamic republic and the US, China, Russia, the France, the UK…
Higher UAE gasoline prices prompt filling station plan
Adnoc Distribution, the retail gasoline division of the Abu Dhabi National Oil Company (ADNOC), plans to open 125 new service stations across the UAE. The state news agency Wam reported Adnoc Distribution chief executive Abdulla al-Dhaheri as saying that it…
Higher UAE gasoline prices remain one quarter of UK level
The sharp rise in UAE gasoline prices effective 1 August still leaves them substantially below the level in most advanced economies and 75 per cent lower than the average in the UK. The UAE Ministry of Energy announced that the…
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.…