Abu Dhabi Ports─the master developer, operator and manager of ports and industrial zones in the Emirate―has started welcoming cruise liners at Sir Bani Yas Island, the Gulf’s first cruise beach stopover in Abu Dhabi. Two prominent luxury cruise vessels made…
Tag: UAE
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…
Fitch Affirms Ras al-Khaimah at investment grade with stable outlook
Fitch Ratings has affirmed Ras al-Khaimah’s long-term foreign and local currency issuer default ratings (IDRs) at A. The outlooks are stable. The issue ratings on RAK Capital’s senior unsecured foreign currency bonds have also been affirmed at A. The short-term…
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…
Fitch Affirms Abu Dhabi at AA
Fitch Ratings has affirmed Abu Dhabi’s Long-term foreign and local currency Issuer Default Ratings (IDR) at AA. The issue ratings on Abu Dhabi’s senior unsecured foreign and local currency bonds have also been affirmed at AA. The Outlooks on 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.…
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…
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…