Google+ Followers

Saturday, 16 December 2017

Moody’s affirms A3 rating and stable outlook for Sharjah - The National

Moody’s affirms A3 rating and stable outlook for Sharjah - The National:

"Moody’s Investors Service has affirmed Sharjah's long-term A3 issuer rating and stable outlook thanks to its resilient and diversified economy and the introduction of revenue-raising measures such as value-added tax (VAT) in 2018. The UAE is introducing a five per cent value added tax on January 1 to offset dwindling government income from oil revenue. Moody's estimates that the impact of the revenue-raising measures in 2018 and 2019 is likely to hover around 6-9 per cent of 2016 revenues. "These measures will help to diversify government revenues away from a narrow base reliant on customs duties and proceeds from land sales," the rating agency said. "They should also assist the government's goal of reducing further its fiscal imbalance in the coming years.""



'via Blog this'

Iraq plans oil pipeline network to cover all its territory | Arab News

Iraq plans oil pipeline network to cover all its territory | Arab News:

"Iraq plans to build a pipeline network to carry oil products across all its territory as an alternative to expensive and hazardous transport by tanker truck, Oil Minister Jabar Al-Luaibi said on Saturday. The network is part of a “strategic” plan for oil transportation that includes pipelines to deliver crude and oil products to neighboring countries, he said. The only crude pipeline now in operation in Iraq links the northern, semi-autonomous Kurdish region to Turkey’s Mediterranean coast."



'via Blog this'

Exclusive: Qatari dairy company battling Arab boycott to go public next year - sources

Exclusive: Qatari dairy company battling Arab boycott to go public next year - sources:

"Qatari company Baladna, which is creating a dairy industry in the desert to help the country to cope with a boycott by other Arab states, is planning an initial public offer of its shares (IPO) to raise funds and bring in strategic investors, sources familiar with the matter said.

The privately-owned firm has chosen QNB Capital, the investment banking arm of Qatar National Bank QNBK.QA, to arrange the IPO for the first half of 2018, said the sources, who declined to be named because the matter isn’t public."



'via Blog this'