In the last week, bullion attempted to recover, briefly reaching $1,983, but quickly reversed course and retreated heading into the weekend
Moody's has upgraded Emirates NBD's long-term ratings to A2 from A3 and short-term ratings to P-1 from P-2. Moody's has maintained the stable outlook on the Group's ratings.
This positive rating action was driven by Moody’s Investors Service (Moody's) decision to upgrade Emirates NBD’s Baseline Credit Assessment, reflecting the Group’s resilient and higher profitability coupled with improved loan diversification.
Shayne Nelson, group CEO, Emirates NBD said: “We are delighted that Emirates NBD’s strong balance sheet, resilience and improving profitability have been recognised by Moody’s with this uplift in credit ratings. Emirates NBD is proud to use this strength to support the UAE 50 Economic Plan to boost the national economy, develop the local business environment and strengthen the position of UAE companies globally.”
Moody's expects that the rising interest environment will be beneficial for growth in Emirates NBD's profitability. These upgrades also capture the Group's solid capitalisation, funding and liquidity. — business@khaleejtimes.com
In the last week, bullion attempted to recover, briefly reaching $1,983, but quickly reversed course and retreated heading into the weekend
Forex traders said the Indian rupee opened weak on the rise in oil prices and the dollar index
AC Milan's Swedish forward revealed his decision to quit the game during an on-pitch ceremony following the club's 3-1 win over Verona
His departure from Qatar-owned Paris-Saint Germain was confirmed on Saturday and he was jeered by a section of the club's fans in his final appearance, a 3-2 defeat by Clermont
The horrific collision and derailment, involving two passenger trains and a goods train, claimed the lives of 275 passengers and left over 1,000 injured
The sea will be slight in the Arabian Gulf and in Oman Sea
He hopes that this will raise awareness about the disease and help other doctors recognise its signs
After working for four years as a taxi driver, Saleem Ahmed Khan joined a limo firm before starting his own driver fleet company