CGI Gulf Insights of the Week Aug 24 2020

  • ByCGI Gulf Insights of the Week
  • Monday, 24 August 2020
  • Published inAugust 2020
Back
View this email in your browser
CRIF GULF WEEKLY INSIGHTS
Country Risk Update - United Arab Emirates

Risk Indicator  - DB3c
Risk Level        - Slight
Ratings Trend  - Deteriorating 

The UAE continues to strengthen its position as a regional safe-haven and business hub. Another support is package unveiled as both the oil and non-oil sectors face challenges, undermining cross-border payment performance. Regional tensions concerning Iran will disrupt supply chains and investment flows into the medium term. Access to global markets from Dubai are among the best in the world.
Market Overview
ENBD REIT secures a hedge on outstanding debt through Dh400m facility
The real estate fund ENBD REIT has secured a hedge for up to 56 percent of its outstanding debt. This was done through a Sharia-compliant profit swap with Mashreq Bank on its Dh400 million facility. It will fix the variable rate of EIBOR (Emirates inter-bank offered rate) for a two-year period starting June 2021.ENBD REIT is now focused on mitigating the impact of the pandemic on operations, “by reducing costs and maintaining them at minimal levels,” it said in a statement.
Claims filed with DIFC Courts shoot up to Dh2 billion-plus in first-half 2020
The DIFC Courts took on cases with combined claims of Dh2.2 billion in the first six months of 2020, which included arbitration-related ones too. Cases brought before the Court of First Instance covered banking and finance, construction, real estate, and manufacturing and also involved disputes related to breach of contract, outstanding payments, insolvency, wills and probate, and employment. The number of cases before the CFI was up a dramatic 96 percent during the period.
Kuwait to transfer 2b dinars to General Reserve Fund
Kuwait’s Ministry of Finance is preparing to transfer 2.05 billion Kuwaiti dinar in liquid cash after the parliament approved a law limiting the transfer of state funds to the Future Generations Fund, Al Qabas reported. The cash will be pumped into the General Reserve Fund, which will enhance the liquidity of the fund until the government finds alternative means of enhancing liquidity, a source told  Al Qabas.
Commodity Tracker
Stock Market Update
CRIF D&B Business Update

Do your clients and partners know that your company is operational?

 

Answer a few simple questions and let the market know that your company is back in business!

 
Back in Business is an online shop window that allows you to prove to your local and global clients and suppliers that your company is ready to do business. You can provide a self-assessment and even a short video, thereby positioning yourself as a reliable partner in a time of uncertainty, guaranteeing your credibility. Your profile will be visible only to other registered users with approved questionnaires.
Know More
We would like to hear from you write to us at [email protected] for
Suggestions and Feedback

*|IFNOT:ARCHIVE_PAGE|* *|LIST:DESCRIPTION|*

Our mailing address is:
*|HTML:LIST_ADDRESS_HTML|* *|END:IF|*



Copyright © *|CURRENT_YEAR|* *|LIST:COMPANY|*, All rights reserved.





 
This email was sent to *|EMAIL|*
why did I get this?    unsubscribe from this list    update subscription preferences
*|LIST:ADDRESSLINE|*
 
Call-Us Call us +971 4 406 9900
Contact us Contact us
Start a live chat Start a live chat
crif GULF DWC LLC operates snb logo in the U.A.E territory.
Logo
CRIF Gulf DWC LLC
is a member of Dun & Bradstreet Worldwide
Network (WWN) and represents
Dun & Bradstreet in the UAE.
Logo
CRIF Gulf DWC LLC
is a member of Dun & Bradstreet Worldwide
Network (WWN) and represents
Dun & Bradstreet in the UAE.

Discover

DUNS Number Contact Us

Address

CRIF GULF DWC LLC.
(Dun & Bradstreet)
Level 15, '48 Burj Gate',
Downtown Burj Khalifa,
Sheikh Zayed Road,
Dubai, UAE

Contact us

Tel. +971 4 406 9900
Fax +971 4 406 9901
E-mail: [email protected]
Business Ethics Policy Privacy Policy Cookie Policy
© 2024 Dun & Bradstreet.   All Rights Reserved