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Finance & Banking

Global Investment House: GCC banking profits hit $14.4 billion with 8.5 % increase

Posted by Gamal Ragay
Sunday, 14 March 2010 22:06
According to Global Investment House report, the financial results of the banking sector in the Gulf Cooperation Council (GCC) states showed a retreat in net profits in 2009 by 8.5 percent to hit USD 14.4 billion compared with 15.7 billion in the previous year.
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Capital Intelligence affirms Bahrain-based Investcorp as profitability rebounded strongly

Friday, 12 March 2010 11:25
Capital Intelligence (CI), the international credit rating agency, today announced that it has affirmed Bahrain-based Investcorp's Foreign Currency Long and Short-Term Ratings at BBB+ and A2 respectively. CI has also maintained Investcorp's
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S&P: U.S. Dollar is Still The World’s Top Reserve Currency

Posted by Rabih Serrai
Thursday, 11 March 2010 19:48
The U.S. dollar has retained its position as the key international currency, contributing to the 'AAA' rating on its government, Standard & Poor's Ratings Services said in a report published today.
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Iraq to modernize public financial management

Posted by Gamal Ragay
Thursday, 11 March 2010 13:28
Over the next two years, Iraq intends to transform and modernize its public financial management (PFM) system. Late last year, in consultation with the IMF and the World Bank, Iraq has adopted a three-year action plan that identified priority
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$1.5 billion debt affected - Moody's reviews Qatar Telecom rating for possible downgrade

Posted by Rabih Serrai
Wednesday, 10 March 2010 13:17
Moody's Investors Service today placed the A1 long term ratings for Qatar Telecom Q.S.C. ("Qtel"), the A1 rating for Qtel International Finance Limited and A1-rated bonds issued under Qtel's GMTN programme under review for possible downgrade.
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Fitch Affirms National Bank of Abu Dhabi at 'AA-' with Stable Outlook

Posted by Mohammed Almasri
Tuesday, 09 March 2010 18:56
Fitch Ratings has today affirmed the National Bank of Abu Dhabi's (NBAD) Long-term Issuer Default Rating (IDR) at 'AA-' with a Stable Outlook. Fitch has affirmed NBAD's Short-term IDR at 'F1+', Support Rating at '1' and Support Rating Floor at 'AA-'.
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Fitch Affirms Abu Dhabi Commercial Bank's Support Rating at '1'

Posted by Gamal Ragay
Tuesday, 09 March 2010 18:22
Fitch Ratings has today affirmed Abu Dhabi Commercial Bank's (ADCB) Support Rating at '1'. The rating reflects the extremely high probability of support, should it ever be required, from the UAE authorities and the Abu Dhabi government,
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Moody's assigns ratings to US$7.5 billion note of Emirates NBD

Posted by Mokhtar Thabet
Tuesday, 09 March 2010 16:57
Moody's Investors Service today assigned long-term senior and subordinated debt ratings to the US$7.5 billion medium-term note programme of Emirates NBD PJSC ('EmiratesNBD') and its special purpose issuing vehicle Emirates NBD Global Funding Limited ('EGF').
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Fitch: Commercial Bank of Qatar ratings reflect strong credit fundamentals

Posted by Mohammed Almasri
Tuesday, 09 March 2010 15:15
Fitch Ratings has today affirmed the Commercial Bank of Qatar's (CBQ) Long-term Issuer Default Rating (IDR) at 'A', Short-term IDR at 'F1', Individual Rating at 'C' and Support Rating at '1'.
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Jordan-Based Investbank Ratings Affirmed With Stable Outlook

Tuesday, 09 March 2010 14:01
Capital Intelligence (CI), the international credit rating agency, today announced that it has affirmed Investbank's Foreign Currency Long and Short-Term Ratings at BB and B respectively. These ratings are constrained by Jordan's sovereign ratings.
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