The UAE’s new bankruptcy law | A Move To Ease Business Fears

The UAE is in the process of implementing a new bankruptcy law. The new bankruptcy law is intended to create a more modern, debtor-friendly regime, with particular emphasis on the rescue of a distressed debtor’s existing business or the restructuring of the debtor’s liabilities, rather than formal liquidation or bankruptcy. The new law will be […]

National Bank of Abu Dhabi Said to Sell $750 Million Bonds

National Bank of Abu Dhabi PJSC, the United Arab Emirates’ second-biggest bank, will raise $750 million from a sale of dollar bonds, according to three people familiar with the plan. La Repubblica Related articles Dubai credit risk drops on 5-year high growth outlook (noorislamicbank.wordpress.com) UAE attracts $1.8billion FDI in 2011 (noorislamicbank.wordpress.com)

Dubai Economic Growth Expected to Slow

Posted on Mar 15, 2012 in UAE Economy, UAE Investment and Finance

The United Arab Emirates’ economic growth is expected to slow to 2.3% this year, from an estimated 4.9% in 2011, due to limited potential for further increasing oil production amid an uncertain global economic environment, according to the International Monetary Fund. The IMF also noted that in the event of a worsening of world economic […]

Company Merger Regime In The UAE | Real Estate Mergers Expected To Increase in 2012

The real estate sector of the United Arab Emirates (UAE) expects to see a number of significant mergers and business consolidations this year. Why? The UAE real estate market is still struggling to recover after real estate prices slumped in 2008 and it is expected that mergers between real estate developers would be needed to […]

UAE Economy Sees Modest Growth in 2011

The UAE economy grew at a rate of 3.3% in 2011, according to Economy Minister Sultan bin Saeed al-Mansour. That’s less than the 3.9% analysts expected, but more than twice the rate of growth seen in 2010. Increased growth was due to higher oil prices and trade with Asia, but hampered by sluggish real estate […]

Banks in UAE Sharply Boost Provisions in December

UAE banks appear to be stepping up a drive to build up bad debt provisions four years after the 2008 global fiscal distress, allocating nearly Dh2.1 billion in December, the highest monthly average in 2011. Due to massive lending in the real estate sector, banks in the UAE are extremely sensitive to downturns in the […]

Abu Dhabi Likely Best Placed if Hormuz Strait Closes

March 8 – Abu Dhabi will become the oil producing member of the Gulf Cooperation Council that is best insulated from a closure of the Strait of Hormuz, once the Habshan-Fujairah pipeline is fully operational later this year, Fitch Ratings says (The following statement was released by the rating agency) Yahoo! Maktoob News Related articles […]

Dim Sum Bonds Sprout in Dubai

Dubai-based Emirates NBD, the largest bank in the United Arab Emirates, is selling $119 million in so-called dim sum bonds, which are debt securities issued in the Chinese yuan outside of mainland China, primarily Hong Kong. Financial Content