The pace of increase appears to have slowed this year, however, rising by an estimated $25bn in H108, after growing by 70% in 2007.
In the absence of officially published external debt data, Fitch compiles …Read full article » United Arab Emirates: Saturday, November 01 - 2008 @ 12:40
To date in 2009, liquidity and the property sector are still concerns, with the non-Abu Dhabi based banks now looking relatively under-capitalised and potentially more vulnerable to any future deterioration in the economy.
The tough global …Read full article » United Arab Emirates: Tuesday, February 17 - 2009 @ 11:14
In addition, the majority of Fitch rated issuers in the region are either fully or partially owned by governments and are likely to be able to rely on support from their respective sovereigns if required. …Read full article » United Arab Emirates: Tuesday, January 20 - 2009 @ 15:46
Nonetheless, with the introduction of guiding principles and standards for the Islamic financial services industry by the Islamic Financial Services Board (IFSB), a Malaysia-based international standard-setting organisation, the situation is gradually improving.
To date, the IFSB …Read full article » United Arab Emirates: Thursday, May 06 - 2010 @ 13:03
Fitch expects economic output in Kuwait to shrink by 2% in real terms in 2009, with output in the oil sector, which accounts for over half the economy, shrinking by 10%, following production cuts agreed …Read full article » Kuwait: Saturday, July 25 - 2009 @ 09:26
In the short term this will help limit the potential for defaults among troubled companies, while in the longer term it may result in governments pushing for cross-border mergers between sub-scale operators.
We believe most Gulf …Read full article » Saudi Arabia: Saturday, June 08 - 2013 @ 09:32
A more established debt market would offer borrowers, specifically corporates, greater flexibility and a wider range of funding sources. It would also extend the maturity profile of GCC-based corporates in the long-term and help to …Read full article » United Arab Emirates: Thursday, June 03 - 2010 @ 14:08
Fitch says it is unlikely to change the banks’ Long-term Issuer Default Ratings as these are driven by expected support from the UAE authorities, although Individual ratings could come under pressure if the banks’ ability …Read full article » United Arab Emirates: Thursday, October 23 - 2008 @ 09:56
Dubai-based banks’ capital positions are more sensitive to rapidly rising NPL trends than other UAE banks. Dubai Bank, in particular, is the most sensitive as its NPLs would only have to rise by a moderate …Read full article » United Arab Emirates: Thursday, December 03 - 2009 @ 11:01
“The first half of 2010 has been difficult for the UAE’s banks, with rising retail and corporate impairments, debt restructuring at Dubai government-related entities (GREs), reduced lending appetite and stubbornly high loan/deposit ratios resulting in …Read full article » United Arab Emirates: Tuesday, June 22 - 2010 @ 16:57