Browsing: Fitch Ratings

Dubai Aerospace Enterprise (DAE) acquired a total of 83 aircraft in 2024, comprising 30 owned and 53 managed. Meanwhile, the company sold 68 aircraft during the year, which included 19 owned and 49 managed units.

The UAE’s Islamic finance sector benefits from a dynamic economy and advanced regulations supporting Sharia-compliant activities. Since the establishment of the first Islamic bank in 1975, the sector has significantly grown, now representing a vital part of the national economy. It includes Islamic banks, Islamic windows in conventional banks, and sukuk (Islamic bonds), all of which have expanded both domestically and internationally.

Majid Al Futtaim reported a net profit of AED 1.6B for H1 2024, despite a challenging macroeconomic environment driven by regional geopolitical tensions and currency devaluations. The group’s assets grew by 2 per cent year-on-year.

Dubai Aerospace Enterprise (DAE) reported impressive financial results for the first half of 2024, with…

Banks in the GCC region are showing a strong desire to expand their presence in major regional markets, particularly Turkey, Egypt, and India, according to Fitch Ratings on Tuesday. This is driven by improved economic conditions and growth opportunities in these target markets.

Banks in the UAE and other Gulf Cooperation Council (GCC) countries are actively seeking to…

UAE secured $1.5B through a bond offering on Wednesday, marking its re-entry into global debt markets since September.

S&P Global Ratings has affirmed Bahrain’s ‘B+/B’ long- and short-term foreign and local currency sovereign…

Fitch Ratings reports that the UAE holds a 19% share of the global sustainable bonds market. The agency believes COP28 will be instrumental in raising awareness about sustainability issues in the region, steering investments towards environmentally responsible practices. Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings, is optimistic about COP28’s potential to boost sustainable bond issuance. He notes the substantial growth of ESG bonds in the UAE, reaching $6.4bn by Q3 2023, a 41% increase from the previous quarter.

The issuances may continue to grow this year, Fitch says. Global sukuk issuances surged by…