Ratings slide for government firms
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Dubai recovery hopes hit by debt 'standstill' call
By: intellectual
Dubai, the credit-crunched Gulf playground, has shattered hopes of imminent financial recovery by asking for a six-month "standstill" on major parts of its debt Dubai World, one of the emirate's main state holding companies, said it was asking for a delay on maturities until at least May 30. It has $60bn (£35.9bn) in declared ...
11 days ago
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Emirates newspaper confiscated the picture of "degrading" the ruler of ...
By: ahmedibrahem
UAE authorities have proceeded to pull a number of newspaper "Sunday Times" of markets in the United Arab Emirates on Sunday, amid reports of extensive debt problems in Dubai, according to the official announcement of the newspaper. The local newspaper "Gazette" of Kuwait, he ordered the "National Media Council" distributors prohibiting ...
7 days ago
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Dara Entertainment opens the very first Chuck E. Cheese in Dubai
By: villagesolutions
A Saudi Group, Dara Entertainment Company, has opened the very first franchise center of Chuck E. Cheese’s, a chain of family entertainment centers based in Irving, Texas, USA, at the Outlet Mall in Dubai, investing Dh30 million on the facility spread over an area of 50,000 sq. feet. Aimed at bringing people of all ages together in a ...
about 1 month ago
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Dubai splurges on fireworks while defaulting on debt
By: DipakBhat
Even as on the eve of Eid Al Adha and National Day, The Dubai Government stunned the world with announcement of default in debt repayment, its blowing up thousands of dollars in expensive fireworks displays every evening for 4-5 days.
8 days ago
- News Source: Khaleej Times | about 1 month agoIndustrial park Jebel Ali Freezone, or Jafza, was cut to Baa1 from A3. Dubai Holding Commercial Operations Group LLC which is in talks to merge its real estate subsidiaries to Emaar Properties, saw its ratings slashed to Baa1 from A3. Emaar’s...
- News Source: 7days | about 1 month agoMoody’s Investors Service said yesterday it has down-graded five Dubai state-linked companies, including Dubai Ports World, though the government would most likely bail them out if it was felt necessary...The main concern for Dubai going forward...
- News Source: Financial Times | about 1 month agoThe ratings agency downgraded from A3 to A1 DP World , the global ports operator; Dubai Water & Electricity Authority; the investments arm of Dubai International Financial Centre; Jebel Ali Free Zone; and the non-financial assets of Dubai Holding,...
- Blog Source: www.finance.vul.krMoody's Investors Service today lowered the credit rating of five Dubai-owned companies, citing tougher government criteria for supporting state-controlled entities. DP World, Dubai Electricity & Water Authority, and DIFC Investments ... Jebel Ali
- Blog Source: www.dubaichronicle.comMoody's Investors Service has downgraded various government-related issuers (GRIs) in Dubai. However, the ratings remain investment-grade and are substantially.
- Blog Source: www.ameinfo.comMoody's Investors Service today lowered the credit rating of five Dubai-owned companies, citing tougher government criteria for supporting state-controlled entities. DP World, Dubai Electricity &... ... Jebel Ali Free Zone was downgraded to Baa1 from
- Blog Source: www.ameinfo.comMoody's Investors Service has downgraded various government-related issuers (GRIs) in Dubai, concluding a review initiated on 4 August 2009. The ratings remain investment-grade and are...
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