DUBAI — Moody’s Investors Service downgraded the issuer rating of Dubai-based mortgage lender Tamweel to Baa1 from A3, citing its deteriorating asset quality and higher funding costs.
DUBAI — Moody’s Investors Service downgraded the issuer rating of Dubai-based mortgage lender Tamweel to Baa1 from A3, citing its deteriorating asset quality and higher funding costs.
DUBAI — Standard & Poor’s Ratings Services on Friday said it had affirmed its ‘AA-’ long-term and ‘A-1+’ short-term foreign and local currency sovereign credit ratings on the Kingdom of 
Saudi Arabia.
DUBAI — Goldman Sachs has resumed coverage of Air Arabia with a “buy” rating and a target price of Dh1.34, saying rising oil prices and strong air traffic growth in the Middle East will boost the low-cost carrier’s (LCC) earnings.
DUBAI — Stronger oil prices and positive global sentiment buoyed UAE shares on Thursday, with low-cost carrier Air Arabia and developer Emaar Properties surging on Thursday to pull up the Dubai bourse.
DUBAI — Kanoo Machinery announced that they have been awarded ‘Regional Distributor of the year 2008’ by Perkins Engines Co. Ltd. UK. Howard Beeken, Director EAME / CIS Distribution, Perkins presented the Perkins Power Award to Mishal Kanoo, Deputy Chairman of The Kanoo Group at a 
glittering ceremony.
DUBAI — BlackGold – a fully owned subsidiary of Al Zarooni Enterprises – has become one of the first UAE companies to enter the lucrative energy exploration and production market in northern Iraq, according to its Chief Executive Officer.
DUBAI — Abdul Aziz Al Ghurair, Chief Executive Officer of Mashreq Bank,
 has been honoured by the 
Banker Middle East with 
this year’s ‘Lifetime 
Achievement Award’.
DUBAI — Moody’s Investors Service downgraded the issuer rating of Dubai-based mortgage lender Tamweel to Baa1 from A3, citing its deteriorating asset quality and higher funding costs.
DUBAI — The value of gold traded in Dubai surged to $14.7 billion in the first half of 2009, up 12 per cent from the same period last year, in spite of a plunge in local jewellery sales, trade data show.
Money transfer company MoneyGram International said it is expecting more overseas Filipino workers to avail of its US dollar payouts service which it launched with Philippines-based M. Lhuillier Financial Services Inc.