NL/02.01.2018

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CRIF GULF WEEKLY INSIGHTS


Country Risk Update 
Kuwait
Risk Indicator – DB4b
Risk Level – Moderate
Ratings Trend – Stable
 
Kuwait’s business opportunities should increase as the government targets a more diverse economy with its national development plan. A pending resolution of the Divided Zone dispute with Saudi Arabia will boost its oil production capacity. 

Market Overview

SABIC’s Profits Fall 18.6% in Q4 2017
Saudi Basic Industries Corp (SABIC) has reported net profits of $980 million for its fourth quarter 2017, a 18.6% drop compared to last year’s results for the same period ending December 31. In a statement made to the Saudi Stock Exchange, the Riyadh-based petrochemicals company said the slide was due to lower production and fewer products sold, caused by the planned turnarounds at certain plants (a “turnaround” meaning a plant is taken offline to be revamped).In addition to reduced output and less sales, SABIC also recorded impairments against assets of the Saudi Iron and Steel Company (Hadeed), a wholly-owned subsidiary, amounting to $93 million.

GCC Construction Sector Faces Challenges Despite Improved Market Sentiment
Business sentiments across GCC’s construction sector have improved over the year despite challenging economic conditions, a new study has found.According to the Pinsent Masons GCC Construction Survey, construction sentiment has improved by approximately 7% (from 32% to 39%) over the last year. Almost 38% of respondents to the survey are expecting the country to provide the most opportunity over the next 12 months. This is compared to the 35% who answered the same in 2016. The improvement comes as the sector faces payment delays and cash flow problems, mainly due to the low oil prices.

Egypt’s New Bankruptcy Law A Boost For Banks
In January 2017, the Egyptian parliament approved the country’s first-ever bankruptcy law — another important step in ongoing efforts to revive its economy. In addition to encouraging local and foreign investment in Egypt, the new bankruptcy law should be a welcome development for banks.For lenders in Egypt, the new law provides more options to deal with troubled companies, making loan workouts more flexible and faster, according to a report published by Moody’s. The law will also speed up the liquidation of non-viable companies, which will increase recovery amounts.Previously, Egypt didn’t have a specific law governing bankruptcy. Instead, the courts handled bankruptcy on a case-by-case basis with debtors facing jail terms.

Oil Price Passes $71 For First Time Since 2014
The oil price shot past $71 per barrel on Thursday, January 25 for the first time since late 2014, helped along by OPEC’s supply cuts and ten consecutive weeks of declining U.S. crude oil inventories.Brent crude, the international oil benchmark, opened at $70.95 a barrel on Thursday before rising as high as $71.21, its highest price since December 2014. A barrel of U.S. benchmark West Texas Intermediate (WTI) crude hit $66.52 per barrel on Thursday after opening at $65.88, another three
year high.Meanwhile, as of Wednesday, the price of OPEC’s basket of fourteen crudes stood at $67.61 a barrel.The steady rise in oil price recently is providing further fiscal relief to the Arabian Gulf countries and Russia, which rely heavily on oil to balance their budgets. 

Luxury Goods Titan Arnault Now Richer Than Zuckerberg After Record LVMH Results
LVMH, the world’s leading luxury products group, announced record sales on Thursday of 42.6 billion Euros ($52.9 billion) in 2017, up 13% over the previous year, as all divisions turned in strong performances. Its net profit popped 29%.The news sent LVMH’s stock up 5% on Friday. The biggest beneficiary of the announcement is LVMH’s longtime chairman and CEO Bernard Arnault, who owns more than 5% of LVMH’s stock. His fortune jumped $3.5 billion in just hours and was at $77.9 billion by noon on Friday. He is now the fifth richest person on the planet, up from number 11 last March when FORBES published their annual rankings of the World’s Billionaires. 

Commodity Tracker

Business Events this Week In UAE

Dubai Chamber Business Best Practice 3rd Seminar
Dubai Chamber of Commerce
29 January 2018
Business Updates


Dun & Bradstreet – D&B Credit
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CRIF GULF DWC LLC · 48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD · Dubai · United Arab Emirates

NL/22.01.2018

 

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CRIF GULF WEEKLY INSIGHTS

 

Country Risk Update
Egypt
Risk Indicator – DB6a
Risk Level – Very High
Ratings Trend – Stable
Egypt’s prime location is used as a base for exports to the Middle East, Asia and Africa as it creates potential for the long-term economic growth, as does its large population of more than 90m. The economic reforms enacted since late 2016 provide an opportunity to resolve deep-seated weaknesses and lay the basis for sustainable high rates of growth over the medium term.

Market Overview

Nearly 49% Of GCC Financial Advisors Are Optimistic About Robo-Advisors
The majority of GCC financial advisors do not find robo-advisors a threat to their business, a new study has revealed. According to EY’s GCC Wealth and Asset Management 2017, about 35% saw robo-advice as an opportunity for their business in 2017 while 22% saw robo-advisors as a threat to their business. These figures indicate that wealth managers are finding ways to integrate artificial intelligence into their operations to attain optimum results.The report noted that digital wealth managers will control approximately one third of the global wealth management industry in 2025, and traditional wealth managers would be driven out of the market by that time. The key to sticking around is to adopt robo-advisory technology and utilize it within traditional wealth advisories.

Union Properties Sells Stake in Emicool for $136 Million
Dubai’s Union Properties has sold its entire 50% stake in Emirates District Cooling (Emicool) to Dubai Investments for $136 million. Following the acquisition, Emicool is now fully-owned by Dubai Investments.Dubai Investments says the move strengthens its portfolio in utilities, while also growing its asset base. “Emicool has carved a niche in the district cooling sector, and Dubai Investments’ acquisition will spur its growth and expansion plans amidst surging demand in the region,” said Khalid Bin Kalban, Dubai Investment’s CEO.

Billion Dollars Worth of Cryptocurrency Stolen by Hackers Over Years
Over a billion dollars worth of cryptocurrenices have been stolen by hackers over the past decade, compromising supplies of Bitcoin and Ether as well as the technology supported them.According to Bloomberg Technology‘s interview with fintech expert Lex Sokolin, hackers have stolen $1.2 billion worth of Bitcoin and Ether. Sokolin, who is  the global director of fintech strategy at Autonomous Research LLP, emphasized that cryptocurrency hacking is costly for businesses and very lucrative for the hackers involved. “It looks like crypto hacking is a $200 million annual revenue industry,” Sokolin said.

Emirates Places $16 Billion Aircraft Order With Airbus
Dubai carrier Emirates has inked an agreement to acquire up to 36 A380 aircraft from Airbus, in a deal valued at $16 billion at latest list prices. Currently, the order from the long-haul carrier is for 20 aircraft, with an option for 16 more. According to a press release, deliveries will start in 2020, with some of the new A380s being used as fleet replacements.Emirates, which has one of the largest fleet of A380s, has long relied on the A380, having used the aircraft since 2008. It currently has 96 A380s already in its fleet. “We’ve made no secret of the fact that the A380 has been a success for Emirates. Our customers love it, and we’ve been able to deploy it on different missions across our network, giving us flexibility in terms of range and passenger mix,” said the airline’s Chairman and CEO, H.H. Sheikh Ahmed bin Saeed Al Maktoum, in a press release.

Careem Reportedly Holds IPO Talks With Banks
Dubai-based ride-hailing app Careem is reportedly in preliminary talks with banks about an initial public offering, Bloomberg reported, citing anonymous sources close to the subject.The sources said that Careem could be valued at approximately $1.5 billion, and a share sale will probably start by the beginning of 2019.When asked about a timeframe for a potential IPO, Careem’s spokesperson said there is “nothing formal at this stage.”The startup hit unicorn status with a $1 billion valuation after securing $350 million in funding led by Japan’s Rakuten and Saudi Telecom Company in December 2016. But that valuation dropped to $872 million in June 2017 when Prince Alwaleed bin Talal invested $62 million for a 7.11% stake in the company.

Commodity Tracker
Business Events this Week In UAE
Dubai Chamber Business Best Practice 2nd Seminar
Constellation Ballroom, The Address Dubai Marina
24 January 2018
Business Updates
 

Dun & Bradstreet – D&B Credit
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Analyse an industry where you see growth,spend more time leading your team, or maybe even get home to the family a little earlier.

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48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD

Dubai

United Arab Emirates

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Copyright © 2018 CRIF GULF DWC LLC, All rights reserved.

 

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CRIF GULF WEEKLY INSIGHTS

 

Country Risk Update
Egypt
Risk Indicator – DB6a
Risk Level – Very High
Ratings Trend – Stable
Egypt’s prime location is used as a base for exports to the Middle East, Asia and Africa as it creates potential for the long-term economic growth, as does its large population of more than 90m. The economic reforms enacted since late 2016 provide an opportunity to resolve deep-seated weaknesses and lay the basis for sustainable high rates of growth over the medium term.

Market Overview

Nearly 49% Of GCC Financial Advisors Are Optimistic About Robo-Advisors
The majority of GCC financial advisors do not find robo-advisors a threat to their business, a new study has revealed. According to EY’s GCC Wealth and Asset Management 2017, about 35% saw robo-advice as an opportunity for their business in 2017 while 22% saw robo-advisors as a threat to their business. These figures indicate that wealth managers are finding ways to integrate artificial intelligence into their operations to attain optimum results.The report noted that digital wealth managers will control approximately one third of the global wealth management industry in 2025, and traditional wealth managers would be driven out of the market by that time. The key to sticking around is to adopt robo-advisory technology and utilize it within traditional wealth advisories.

Union Properties Sells Stake in Emicool for $136 Million
Dubai’s Union Properties has sold its entire 50% stake in Emirates District Cooling (Emicool) to Dubai Investments for $136 million. Following the acquisition, Emicool is now fully-owned by Dubai Investments.Dubai Investments says the move strengthens its portfolio in utilities, while also growing its asset base. “Emicool has carved a niche in the district cooling sector, and Dubai Investments’ acquisition will spur its growth and expansion plans amidst surging demand in the region,” said Khalid Bin Kalban, Dubai Investment’s CEO.

Billion Dollars Worth of Cryptocurrency Stolen by Hackers Over Years
Over a billion dollars worth of cryptocurrenices have been stolen by hackers over the past decade, compromising supplies of Bitcoin and Ether as well as the technology supported them.According to Bloomberg Technology‘s interview with fintech expert Lex Sokolin, hackers have stolen $1.2 billion worth of Bitcoin and Ether. Sokolin, who is  the global director of fintech strategy at Autonomous Research LLP, emphasized that cryptocurrency hacking is costly for businesses and very lucrative for the hackers involved. “It looks like crypto hacking is a $200 million annual revenue industry,” Sokolin said.

Emirates Places $16 Billion Aircraft Order With Airbus
Dubai carrier Emirates has inked an agreement to acquire up to 36 A380 aircraft from Airbus, in a deal valued at $16 billion at latest list prices. Currently, the order from the long-haul carrier is for 20 aircraft, with an option for 16 more. According to a press release, deliveries will start in 2020, with some of the new A380s being used as fleet replacements.Emirates, which has one of the largest fleet of A380s, has long relied on the A380, having used the aircraft since 2008. It currently has 96 A380s already in its fleet. “We’ve made no secret of the fact that the A380 has been a success for Emirates. Our customers love it, and we’ve been able to deploy it on different missions across our network, giving us flexibility in terms of range and passenger mix,” said the airline’s Chairman and CEO, H.H. Sheikh Ahmed bin Saeed Al Maktoum, in a press release.

Careem Reportedly Holds IPO Talks With Banks
Dubai-based ride-hailing app Careem is reportedly in preliminary talks with banks about an initial public offering, Bloomberg reported, citing anonymous sources close to the subject.The sources said that Careem could be valued at approximately $1.5 billion, and a share sale will probably start by the beginning of 2019.When asked about a timeframe for a potential IPO, Careem’s spokesperson said there is “nothing formal at this stage.”The startup hit unicorn status with a $1 billion valuation after securing $350 million in funding led by Japan’s Rakuten and Saudi Telecom Company in December 2016. But that valuation dropped to $872 million in June 2017 when Prince Alwaleed bin Talal invested $62 million for a 7.11% stake in the company.

Commodity Tracker
Business Events this Week In UAE
Dubai Chamber Business Best Practice 2nd Seminar
Constellation Ballroom, The Address Dubai Marina
24 January 2018
Business Updates
 

Dun & Bradstreet – D&B Credit
From making credit decisions to managing your portfolio and overall risk,D&B Credit solutions help you quickly finish the task at hand, so you can move on to other things.
Analyse an industry where you see growth,spend more time leading your team, or maybe even get home to the family a little earlier.

We would like to hear from you write to us at [email protected] for
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48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD

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United Arab Emirates

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Copyright © 2018 CRIF GULF DWC LLC, All rights reserved.

NL/15.01.2018

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CRIF GULF WEEKLY INSIGHTS


Country Risk Update 
Saudi Arabia
Risk Indicator – DB3c
Risk Level – Slight
Ratings Trend – Deteriorating
 
Saudi Arabia’s oil reserves, which have allowed it to build up huge financial buffers, will support short-term government spending. Also the longer-term growth will be driven by government reforms under its Vision 2030, which aims to reduce its dependence on oil export revenues and boost the private sector.

Market Overview

ACWA Power Adopts Cryptocurrency SolarCoin

Saudi Arabia’s ACWA Power has announced it is adopting the cryptocurrency SolarCoin,
a move that will reward the Riyadh-based utility company for producing solar energy. SolarCoin is a blockchain-based digital currency that’s designed to accelerate the transition to clean energy technology by incentivizing global solar energy production. Through a rewards system, verified solar electricity producers can earn SolarCoins for free by simply producing solar energy. The digital coins are disbursed at a rate of 1 SolarCoin (SLR) per 1 megawatt hour of solar energy produced.

Dubai’s Union Properties Buys Stake in Egyptian Developer
Dubai’s Union Properties has acquired a strategic stake of 5.68% in Egypt’s Palm Hills Development, a move that comes as part of the real estate developer’s plans to diversify its revenue streams and expand its business into new markets. Union Properties acquired the stake through its fully-owned investment arm UPP Capital Investment.The deal to acquire a stake in Palm Hills Development came a day after Union Properties announced it is in the final stages of selling its entire stake in Dubai-based Emicool, a district cooling service provider.

China State Construction and Engineering Corporation Bags $135 Million Mall Deal in Ajman
Ajman, one of the U.A.E. norther emirates, is set to get one of its first malls with an atrium roof of 7,900 square meters and it is to be developed by Chinese construction giant China State Construction and Engineering Corporation (CSCEC).Mirkaaz Mall, launched by Ajman Holdings, will be developed by CSCEC. The two companies signed an agreement, where the construction of the mall will begin in January 2018 and expects a completion by Q4 of 2019.The mall deal adds on to CSCEC ME’s expanding project portfolio in the region.

Kuwait’s KNPC Inks $51.25 Million Deal For 10 New Gas Stations
Kuwait National Petroleum Company (KNPC) signed a contract with Combined Group Contracting Company (CGC) to build 10 new gas stations across the country.The deal, worth $51.25 million, was signed by Mohammed Al-Mutairi, CEO of KNPC and Raad Al-Abdullah, Vice-chairman of CGC on January 8, 2018.The 10 new gas stations are a part of KNPC’s 19 new petrol stations that were to be built in early 2018 whereas the rest of the nine stations will be scheduled to be built at a later date, according to Basem Al-Issa Deputy CEO of Kuwait National Petroleum Company.

Saudi Arabia’s Move To Up Foreign Investment Limit Gets Regulatory Nod
Saudi Arabia’s market watchdog Capital Market Authority (CMA) has approved a resolution that will allow foreign investors to own up to 49% of shares or debt in listed companies. The CMA has also relaxed the rules required to invest in the Kingdom’s stock markets.The move comes as the world’s top oil exporter aims to shore up foreign investment to offset a fall in petrodollars, which was previously one of the significant sources of public income.The relaxation of rules will also help in further developing and expanding the scope of the capital markets as the government prioritizes diversification.

Commodity Tracker

Business Events this Week In UAE

Sign and Graphic Imaging Dubai 2018
Dubai World Trade Centre
15 January 2018 To 16 January 2018
Business Updates


Dun & Bradstreet – D&B Credit
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Analyse an industry where you see growth,spend more time leading your team, or maybe even get home to the family a little earlier.

 
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CRIF GULF DWC LLC · 48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD · Dubai · United Arab Emirates

NL/08.01.2018

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CRIF GULF WEEKLY INSIGHTS


Country Risk Update – UAE
Risk Indicator – DB3c
Risk Level – Slight
Ratings Trend – Deteriorating
 
The UAE will continue to strengthen its position as a regional safe haven and business hub.Access to global markets from Dubai will be among the best in the world.The latest official data for Abu Dhabi, which is the UAE’s largest emirate, shows that the non seasonally- adjusted real GDP grew by only 0.6% q/q in Q2 2017.

Market Overview

U.A.E.’s Skype Ban Could Prove Costly For SMEs

A ban on Skype, a popular internet phone call and messaging service, could likely weigh the heaviest on small and medium sized businesses, analysts say.“This move by the U.A.E government is expected to have a major impact on the business ecosystem of U.A.E and in-turn would affect the overall economy of the country,” explains Parminder Kaur Saini, Principal Consultant of Digital Transformation Practice at Frost & Sullivan. “The ban on Skype is expected to largely affect the small and medium businesses (SMBs) of the country. Given the fact that SMBs form a greater chunk of the overall business ecosystem of the U.A.E., this move of banning of services like Skype has left this community disappointed and frustrated.”

NMC Healthcare Shares Surge As Firm Closes Deals Worth $250 Million
The U.A.E.-based hospital operator NMC Healthcare’s shares have surged 8.11% after the firm announced that it increased its stake in Fakih IVF and As Salama Hospital on January 4, 2018.The London Stock Exchange-listed firm had a share of 51% in Fakih IVF and a 70% stake in As Salama Hospital. Both the companies were acquired at the same enterprise value which was set in 2016 during its initial purchase.

Al Rajhi REIT Fund Launches $437.4 Million IPO
In one of the largest REIT fund IPOs in Saudi Arabia, Al Rajhi REIT Fund—Al Rajhi Capital’s first Real Estate Investment Fund—launched an IPO with a fund size of $437.4 million (SAR 1.62 billion) on January 1 this year.The IPO will run until January 14, offering 42.67 million units for SAR 10 each. The Sharia-compliant fund—managed by Al Rajhi Capital—aims to acquire or invest in income generating commercial, office, and educational assets, as well as warehouses, located in Riyadh, Jeddah, Al Khobar and Khamis Mushait in the Kingdom—except Makkah and Madinah.

Air Liquide Acquires Saudi-Based Thimar Al Jazirah Company’s Homecare Unit
French industrial gas company Air Liquide announced that it has acquired the respiratory division of Riyadh-based medical devices company Thimar Al Jazirah Company (TAC).Although financials weren’t disclosed, Air Liquide reports it acquired a 60% stake in TAC’s home healthcare division, which specializes in the distribution of respiratory equipment and sleep disorder diagnosis services. The unit generated revenues of about $6.6 million in 2016, according to a press release.With this acquisition, Air Liquide pursues the development of its activity in Saudi Arabia and expands its healthcare business in the Middle East.

U.A.E. Telcos Brush Up Their VoIP Offerings Amidst Skype Block
Telecommunications service providers Etisalat and Du have confirmed on Twitter that access to the Skype application has been blocked in the United Arab Emirates due to its status as an unlicensed Voice over Internet Protocol (VoIP) service.According to the UAE’s Telecommunications Regulatory Authority (TRA), any VoIP service that is being used by companies or individuals must be licensed within the U.A.E. Any person using unlicensed VoIP services may be committing a criminal offence.

Commodity Tracker

Business Events this Week In UAE

Sign and Graphic Imaging Dubai 2018
Dubai World Trade Centre
14 January 2018 To 16 January 2018
Business Updates


Dun & Bradstreet – D&B Credit
From making credit decisions to managing your portfolio and overall risk,D&B Credit solutions help you quickly finish the task at hand, so you can move on to other things.
Analyse an industry where you see growth,spend more time leading your team, or maybe even get home to the family a little earlier.

 
We would like to hear from you write to us at [email protected] for
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48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD

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CRIF GULF DWC LLC · 48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD · Dubai · United Arab Emirates

NL/02.01.2018

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CRIF GULF WEEKLY INSIGHTS
Wishing our readers a Prosperous and Happy New Year !


Country Risk Update – Kuwait
Risk Indicator – DB4b
Risk Level – Moderate
Ratings Trend – Stable
 
Kuwait’s Business opportunities should increase as the government targets a more diverse economy with its national development plan. Kuwait’s ranking in the influential Global Competitiveness Index disappoints, falling by 14 places to leave it ranked 52nd globally. 

Market Overview

Gulf Islamic Investments Buys Amazon’s Logistics Centres For $144 Million

A.E.-based Gulf Islamic Investments (GII), an Islamic financial services company acquired Amazon’s logistics centres covering an area of nearly one million square feet for $144 million.The logistics centres—newly built facilities—are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts according to Germany Consumer Price Index (CPI).Commenting on the announcement, Mohammed Al-Hassan, Co-founder and CEO of GII said, “GII’s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe this transaction perfectly matches our investment strategy”.

Saudi Aramco Launches Joint Venture to Build Shipyard
Saudi Aramco and several partners have officially launched International Maritime Industries (IMI), a joint venture to build a shipyard on Saudi Arabia’s east coast, according to a statement released by the state-owned oil giant in late December 2017.Saudi Aramco created the venture along with partners including U.A.E-based engineering firm Lamprell Plc, National Shipping Company of Saudi Arabia (Bahri) and South Korea’s Hyundai Heavy Industries Co. IMI is designed to localize links to Saudi Aramco’s supply chain related to offshore drilling and shipping activities. Initial production and service operations are expected to commence in 2019, with the facility reaching its full operational capacity by 2022.

KIPCO Closes $331 Million Seven-Year Bond Issue
In the first ever seven-year corporate dinar bond issued in Kuwait, KIPCO—the Kuwait Projects Company (Holding)—announced that it has successfully completed the issuance of a $331 million (KD 100 million) bond.Oversubscribed 1.45 times, the bonds were issued in fixed and floating rate tranches. Upon closing, the fixed rate bond attracted 36% of the transaction allocation and the floating rate bond 64%.The fixed rate bond pays investors a coupon of 5.25% annually, while the floating rate bond pays investors a coupon of 2.25% annually over the declared Central Bank of Kuwait discount rate, with a cap of 1% over the fixed-rate coupon. The bonds were issued at par and will pay coupons semi-annually in arrears.

IPIC Receives $600 Million From 1Malaysia Development Berhad and Ministry Of Finance Malaysia
Abu Dhabi owned IPIC—which merged with another government entity Mubadala earlier this year—received over $600 million on December 27 from Ministry of Finance (Incorporated) Malaysia (MoF Inc.) and 1Malaysia Development Berhad (1MDB), in line with an Arbitration Tribunal making a consent award by May 31, 2017.According to the ruling, IPIC was to receive an amount of $603 million by July 31, 2017, which they actually received in August 2017 and a further payment of the same amount by December 31, 2017.

Union Properties To List Subsidiary On DFM
Real estate developer, Union Properties has announced the decision to raise capital for its facilities management subsidiary, ServeU through an initial public offering (IPO) in the second half of January 2018. The group is said to list the shares on Dubai Financial Market (DFM) and will invest the proceeds from the IPO to enhance its operations and develop an investment portfolio. ServeU has multiple services like property maintenance, general maintenance, security, cleaning, waste transportation and landscaping. The company has aligned itself with Union Properties’ new strategies which focus on enhancing its investments, diversifying revenue sources and expanding into new markets.

Commodity Tracker

Business Events this Week In UAE

Sign and Graphic Imaging Dubai 2018
Dubai World Trade Centre
14 January 2018 To 16 January 2018
Business Updates


Dun & Bradstreet – D&B Credit
From making credit decisions to managing your portfolio and overall risk,D&B Credit solutions help you quickly finish the task at hand, so you can move on to other things.
Analyse an industry where you see growth,spend more time leading your team, or maybe even get home to the family a little earlier.

 
We would like to hear from you write to us at [email protected] for
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48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD

Dubai

United Arab Emirates

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CRIF GULF DWC LLC · 48 BURJ GATE, DOWNTOWN BURJ AREA, SHEIKH ZAYED ROAD · Dubai · United Arab Emirates