The realty sector in Bahrain both in rental and sales has witnessed declines in the first of the year 2011, according to a latest report by Knight and Frank. The report released on Sunday, Knight and Frank admitted that the real estate industry globally had been hard hit during this prolonged economic downturn and Bahrain’s [...]
With overwhelming majority of 94 per cent of banking professionals see the competition will increase in next two years, the banking sector in the Middle East will become more competitive over the coming two years, according to the annual Barclays Corporate Global Banking Survey. The findings of the survey which were made public on Sunday [...]
Standard & Poor’s Ratings Services affirmed its ‘BBB/A-3′ long- and short-term counterparty credit ratings on Bahrain-based Ahli United Bank (AUB) and removed it from CreditWatch, where it had been placed with negative implications on March 21, 2011. The outlook is stable. “The rating action follows the affirmation and removal of our ratings on the Kingdom [...]
Fitch Ratings says in a quarterly report that the number of global bank rating upgrades more than quadrupled to 30, overtaking rating downgrades which fell to 29 in the second quarter of 2011. This was primarily following sovereign actions in emerging markets. The report highlights the significance of sovereign rating actions in driving bank rating [...]
Jet Airways, India’s premier international airline, will commence daily flights from Sharjah to Thiruvananthapuram from 30th October, 2011. The airline currently operates a daily flight from Sharjah to Kochi and the addition of another daily service will further enhance its growing International network. This will be the tenth daily service from the United Arab Emirates [...]
Zawya, the leading online provider of business intelligence on the Middle East and North Africa (MENA) region, announced a new partnership with AllWorld Network, which aims to establish the largest information system and network of growth entrepreneurs in Emerging Markets. Zawya will serve as the Business Community Partner for AllWorld’s Arabia 500, the first ranking [...]
Fitch Ratings has affirmed Oman-based Bank Sohar’s long-term issuer default rating (IDR) of ‘BBB+’ with a stable outlook. The agency has simultaneously affirmed the bank’s short-term IDR of ‘F2′, viability rating of ‘bb+’, individual rating of ‘C/D’, support rating of ’2′ and support rating floor of ‘BBB+’. Bank Sohar’s IDRs and Support Rating reflect Fitch’s [...]
The Gulf Petrochemicals and Chemicals Association (GPCA) had announced the date and venue for the Sixth Annual GPCA Forum which will take place at Atlantis, The Palm, Dubai from 13-15 December 2011. The petrochemical industry continues to recover from the global recession and following on from last year’s successful event, which attracted over 1,300 delegates, [...]
