لهذا السبب لم تنتظر البنوك طويلاً لتسييل الأسهم!

13 thoughts on “لهذا السبب لم تنتظر البنوك طويلاً لتسييل الأسهم!”

1. من يزرع في غير ارضه تكون هذه عاقبته

2. بغض النظر عن الضرر اللي بتحدثه الازمة المالية العالمية

   تظل دبي قادرة على مواجهة المشكلة .. بسبب القيادة الرشيدة

   والمشاريع اللي تم انجازها تعتبر معجزة .. والحمد لله .. و الازمة ظهرت بعد ما تم الانتهاء من برج دبي ومول دبي والمنطقة المحيطة بها

   وان ترتبت عليها بعض الالتزامات المالية .. سيتم ترتيبها مع مرور الوقت

   واتمنى من الصناديق الاستثمارية السيادية .. ان تتجه للاستثمار في دبي وبنيتها الاساسية بدلا من دعم الغرب وشركاتهممممممم

   وما اعتقد دبي ما تتمنى هذا الشيء .. فرب ضارة نافعة ..

   هذا كلام كبير لا يفهمه الا كبير يا كبير

   الرجاء عدم مناقشة كلامي .. لانها قراءة خاصة .. هي للطرح ولكن ليست للنقاش

3. Dubai May Need Help From Abu Dhabi to Fund Borrowing

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   Oct. 13 (Bloomberg) — Dubai may need help from Abu Dhabi and the United Arab Emirates government to finance a surge in borrowing that paid for the world’s tallest tower, palm tree- shaped man-made islands and stakes in banks worldwide.

   Dubai’s “potential reliance” will be “most significant” in coming years, Moody’s Investors Service said in a report today. Government-controlled companies owe at least $47 billion, more than Dubai’s gross domestic product, and they will continue to accumulate debt at a faster pace than the economy grows, the New York-based rating firm said.

   “These companies that are based in Dubai have become larger than Dubai itself,” said Giyas Gokkent, chief economist at National Bank of Abu Dhabi, the U.A.E.’s second-largest commercial bank by assets. “If anything were to go wrong with any of these companies, Dubai does not have the wherewithal to deal with it.”

   State-owned Dubai World paid about $5.1 billion for almost 10 percent of Kirk Kerkorian’s MGM Mirage last year; the price has tumbled since to $16.80 from $84. DP World, the government- run company that bought Peninsula and Oriental Steam Navigation Co. for $6.8 billion in 2006, has slumped 55 percent this year on the Dubai International Financial Exchange.

   Ruler Sheikh Mohammed bin Rashid al-Maktoum has borrowed to replace Dubai’s dwindling revenue from oil, investing to boost earnings from tourism and finance. State-owned carrier Emirates has increased its fleet to the largest in the Middle East, in a bid to double tourists per year to 15 million by 2015. Dubai Holding LLC, which groups assets belonging to Sheikh Mohammed, owns hotel chain Jumeirah Group.

   Abu Dhabi Oil

   Abu Dhabi, by contrast, owns more than 90 percent of the U.A.E.’s oil reserves, almost 8 percent of the world’s total. The Abu Dhabi Investment Authority, its sovereign wealth fund, is the world’s largest with assets of between $250 billion and $875 billion, according to the International Monetary Fund.

   ADIA’s Head of Media Relations Erik Portanger declined to comment on Moody’s report.

   Dubai’s approach is backfiring as investors avoid the most indebted companies on concern the global credit crunch will increase defaults, while real-estate and company assets slump.

   Deutsche Bank has fallen nearly 70 percent since Dubai government-owned DIFC Investments bought a 2.2 percent stake for about $1.8 billion in May 2007. Standard Chartered has declined 15 percent since state-owned Istithmar PJSC acquired a 2.7 percent stake for about $1 billion in October 2006.

   The cost of insuring Dubai Holding’s bonds has increased nearly four-fold since May, according to traders of credit default swaps. Credit-default swaps on Dubai Holding Commercial Operations traded at 679.3 basis points on Oct. 10, up from 172.99 at the beginning of May, CMA Datavision prices show.

   The company’s $500 million of 10-year notes due 2017 fell 2.2 percent today, raising the yield to a record 13.1 percent, Bloomberg data shows.

   Dubai Model

   While Dubai’s economic model “has proved successful to date, cumulative liabilities are currently rising faster than investments are able to generate returns,” Moody’s senior vice president in Dubai, Philipp Lotter, said in the report. This “necessitates a clear understanding of wider implicit federal support when rating key government-backed corporation.”

   Moody’s expects a “high level” of support from Abu Dhabi for the “most important” publicly-owned companies in the U.A.E., Tristan Cooper, Moody’s Middle East sovereign analyst, said in the report.

   A spokesman for the Abu Dhabi government declined to comment on whether the emirate would assist its neighbor in meeting its debt obligations.

   Abu Dhabi and Dubai are the two-largest emirates in the seven-member U.A.E. Dubai controls its economy through state- owned companies that dominate each major industry.

   Mohammed Al Gergawi, chairman of Dubai Holding, and Sultan bin Sulayem, chairman of Dubai World, didn’t answer their mobile phones when called for comment today.

   `Unprecedented’

   Abu Dhabi taking stakes in Dubai companies to help prop them up would be an “unprecedented” step “that would have to be tested,” Gokkent at the state-controlled National Bank of Abu Dhabi said in an interview. “The Moody’s debt numbers are conservative” for Dubai, he said.

   Dubai’s benchmark stock index is down 44 percent as concerns over real-estate valuations and banks’ access to capital weighed on investors.

   “In most countries there are identifiable delineations between the public and private sectors,” Cooper said in the report. “In Dubai, however, the state corporatist model plus the fact that the ruler and his closest relatives form the core of the government make it difficult to draw such distinctions.”

   To contact the reporter on this story: Matthew Brown in Dubai at mbrown42@bloomberg.net
   Top Financial News
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   UAE’s external debt put at $170b

   UAE’s external debt put at $170b
   By Saifur Rahman, Business Editor
   Published: November 01, 2008, 22:58

   Dubai: The UAE’s external debt currently stands at Dh623.9 billion ($170 billion) this year, up from last year’s Dh532.15 billion ($145 billion), according to the latest report by credit rating agency Fitch Ratings.

   “After growing by 70 per cent in 2007, the pace of debt increase seems to have slowed this year, though it still rose by an estimated $25 billion in first half of 2008 to $170 billion,” Fitch said in the report.

   Although this might not have any major impact on the economy as the fundamentals remains strong, the current liquidity shortage and a possible real estate market correction could hamper investor confidence further.

   “The global credit crunch has focused attention on the ability to re-finance outstanding debt. Dubai corporates – both public and private – had about $11 billion of loans maturing in the final quarter of 2008, some of which has already matured or been refinanced,” the report said.

   Fitch estimates Dubai’s non-bank foreign-currency debt at just under $70 billion, much higher than Dubai’s GDP. “Of this, three-quarters is owed by majority state-owned enterprises and a further 9 per cent by companies in the Dubai Holdings group,” it said.

   “The biggest borrower has been majority state-owned Dubai World. However, $5 billion of its $10.5 billion debt outstanding at end September has since matured.

   “The only other large loan maturity this year is owed by Borse Dubai in December. This leaves just $5.3 billion of maturities next year.”

   According to the International Monetary Fund data, UAE’s total government debt is expected to come down to 9.4 per cent of the GDP by the end of the year, compared to 10.6 per cent in 2007.

   The UAE’s current account balance is expected to jump 56 per cent to $60.9 billion by the end of 2008, up from $39.1 billion last year, the latest IMF data shows.

   “Growth is underpinned by high commodity prices, strong domestic demand, and also credibility of the authorities’ economic policies,” Dr Mohsin Khan, IMF director for the Middle East and Central Asia Department, said in a latest statement while releasing the Regional Economic Outlook.

   “The region has been largely resilient to the ongoing international credit crisis and the downturn in the US and other advanced economies.”

   About 60 per cent of the UAE’s total external debt is owed by its banks, with total external liabilities of just below $90 billion gross and $40 billion net in March 2008.

   Fitch said, approximately 20 per cent of UAE bank external liabilities represent non resident deposits, reflecting the country’s increasing role as a regional and international financial and business centre.

   Oasis of stability

   A recent economic report said the current global credit crisis could provide the UAE banking sector to stand on solid ground and prove it is still strong and protected against external impacts.

   The report, released by the Abu Dhabi Council for Economic Development, said the UAE and the Gulf region in general, now looks very much like an oasis of stability compared with the US and other countries hit by the global financial turmoil.

   It cited recent reports by Financial Times predicting that emerging financial centres in the Gulf could still make gains.

   Gulfnews: UAE’s external debt put at $170b
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   WSJ(12/14) Dubai’s Debt Cloud

   Dubai, United Arab Emirates — Dubai is on a spending spree, and financial analysts are starting to wonder about the amount of debt the city-state is racking up.

   Its oil production is dwindling, and its debt load is four times the average among other Persian Gulf states. Credit-rating companies are asking for more information to determine how sound the government really is.

   “From published documents, it is difficult to get a picture of the complete financial situation,” said Standard & Poor’sStandard & Poor’sStandard & Poor’s
   S&P
   Overseas | Financial Services
   News | Profile | Officers
   analyst Farouk Soussa. “The transparency isn’t good.”

   One of seven emirates making up the United Arab Emirates, Dubai, like other Middle East governments, has been on a deal-making binge. Companies owned or backed by the government have signed agreements or made plays for billions of dollars in assets this year, including stakes in American and European stock exchanges, a Las Vegas casino operator and, most recently, a chunk of Sony Corp. Part of Dubai’s deal-making is financed by debt.

   At the same time, other Dubai entities have launched expansion plans relying on public borrowing. NakheelNakheel, a government-controlled company building a giant, palm-tree-shaped island development, placed $750 million in bonds this month to finance its plans. Government-owned Jebel Ali Free ZoneJebel Ali Free Zone recently listed 7.5 billion dirham ($2 billion) of bonds.

   Moody’sMoody’s Investors Service, Fitch Ratings and Standard & Poor’sStandard & Poor’sStandard & Poor’s
   S&P
   Overseas | Financial Services
   News | Profile | Officers
   Ratings Services are handing out credit ratings to many of these government-backed companies, and they are starting to ask for more disclosure from the emirate, which they assume will bail out the companies if they get into a jam.

   “The rapid economic development of Dubai is certainly being accompanied by increased levels of leverage from companies that are closely associated with the government,” said Tristan Cooper, a Moody’sMoody’s analyst in Dubai. “Without a clearer picture of the overall financial position of the central government and the broader public sector,” investors could become more cautious.

   The situation highlights a broader issue. Many of the world’s governments and the companies they control are notoriously opaque, especially in the Middle East. But big regional investors like Qatar, Kuwait and Abu Dhabi (also part of the U.A.E.) have big hydrocarbon reserves to back up their deals. Production can be relatively easy to estimate from public figures. Dubai’s reserves have been shrinking for years.

   Dubai also has taken a more-complex approach to investing overseas. Most other deal-making countries have used massive investment authorities to pursue their deals. The Abu Dhabi Investment AuthorityAbu Dhabi Investment Authority, for instance, bought a $7.5 billion stake in Citigroup Inc. last month. In contrast, Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum, has entrusted a cadre of lieutenants to run his own and his government’s business interests. They often compete with one another and hunt for deals independently, but they all ultimately answer to Sheik Mohammed.

   The government association has helped a handful of Dubai corporate entities get high credit ratings. The assumption is that Sheikh Mohammed or his government will come to the rescue in a pinch. And if Dubai gets overextended, analysts expect the emirate’s much-richer cousins in Abu Dhabi will lend a hand. Abu Dhabi is the capital of the U.A.E., and its ruler is the country’s president. Sheikh Mohammed is prime minister.

   Moody’sMoody’s recently gave one of its highest corporate ratings, A1, to government-controlled DIFC InvestmentsDIFC Investments LLC. DIFCDIFC owns a stake in Borse DubaiBorse Dubai, the holding company that recently agreed to acquire Nordic exchange OMX AB for some $4.9 billion. The complex deal aims to eventually give Dubai a stake of nearly 20% in Nasdaq Stock Market Inc. In a ratings note, Moody’sMoody’s said the rating reflects “the credit support the Government of Dubai is likely to provide in a distress situation.”

   This year, S&PS&P rated Dubai Holding Commercial Operations GroupDubai Holding Commercial Operations Group LLC single-A-plus, citing “strong implicit support from the Emirate of Dubai.” Sheikh Mohammed owns the entity’s parent, Dubai HoldingDubai Holding. A Dubai HoldingDubai Holding subsidiary recently bought the Sony stake.

   The trouble with these corporate ratings is that without more disclosure, it is difficult to evaluate the financial soundness of these entities and the government backing them. As its oil supplies dwindle, Dubai has diversified its economy into financial services, tourism and real-estate development, among other pursuits. Those revenue streams and their underlying assets are difficult to pin down without access to government books.

   In an emailed response to questions, a Dubai government spokesman said the emirate’s debt load is “very moderate” by international standards, and the debt raised by Dubai entities “has all been in their capacity as leading international players that are successfully expanding in a number of profitable markets.” He said Dubai is in the process of obtaining a rating on its sovereign, or government, debt. Such a rating gauges a government’s ability to pay back its borrowing, and it is used to price publicly sold debt.

   S&PS&P credit analysts estimate Dubai’s debt, relative to gross domestic product, is about 42%. Compared with the U.S., where gross debt stands at more than 60% of GDP, according to the International Monetary Fund, that isn’t bad. But in Abu Dhabi, debt is equal to just 2.9% of GDP.

   Analysts think Dubai’s assets, including real estate, aviation and tourism interests and taxes, far outweigh its debt, but they would like to know more.

   Of course, credit-rating companies have another motivation: In most cases, they are paid to rate the creditworthiness of firms and governments, and the big three firms are eager for clients like the government of Dubai.

   (END) Dow Jones Newswires
   https://www.zawya.com/story.cfm/sidZ…20Debt%20Cloud
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4. تخبط اعلامي هذا زمن النجيم

   على اساس بنوكنا هي الي داعمة البنوك الخارجية

   وهي الي اموالها راحت دبلكي مو العكس

   لنشوف البصاره ( عنزه ) شو تقول

5. الصراحة بطلنا فاهمين شي يوم يقولون مديونين و اليوم الي بعده يقولون انا بندعم امريكا و بريطانيا
   ثم يرد يطلع خبر اننا مديونين
   طيب ليش رايحين ندعم باركي بانك!!!

   اذا في حد فاهم في المتدى يفهما
   ؟؟؟؟؟؟؟؟؟؟؟؟؟!!!!!!!!!!!!!!!!!!!!!!؟؟؟؟؟؟؟؟؟؟؟؟؟؟

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