Latest news with #financial strength
UAE Moments
a day ago
- General
- UAE Moments
♓ Pisces Daily Horoscope for July 29, 2025
Today centers around emotional release and reclaiming inner power. Saturn's transit offers a chance to shed outdated emotional weight and step into a more grounded, focused version of yourself. Finance & Wealth You handle negotiations with poise, and financial strength builds steadily. Property-related matters could move in your favor. Trust collaborative actions to yield longer-term growth. Career & Creative Flow At work, your leadership and cooperative style flourish. Teamwork highlights your intuition and emotional intelligence. Avoid overexertion—balance ambition with restful simplicity to keep the momentum steady. Love & Relationships Emotional openness helps deepen bonds today. You may reconnect with someone meaningful, or share meaningful moments with friends. Your sensitivity becomes a connecting force rather than a burden. Health & Inner Balance Let go of emotional patterns that no longer serve you. Cultivating simplicity and inner peace now strengthens your center and renews vitality. You feel calmer, clearer, and more whole. Extras Lucky Color: Beige Lucky Numbers: 2, 3, 9
Arabian Business
2 days ago
- Business
- Arabian Business
Union Properties resolves legacy debt with new Motor City sale
Union Properties has concluded its comprehensive recovery plan, which was designed to resolve all legacy debt settlements and restore long-term financial strength. The company achieved this after signing a conditional sale agreement valued at AED 700 million (US$190.6 million) for a real estate project in Motor City. Building on a record AED 1.3 billion (US$350 million) in plot sales achieved in 2024 as part of its debt restructuring strategy, this latest agreement is expected to be recognised in the company's fourth quarter 2025 financials. Union Properties completes debt recovery plan Upon completion, the proceeds will enable Union Properties to fully settle its legacy debt, marking the culmination of a multi-year recovery strategy. It will position the company to move decisively toward a new phase of sustainable growth and strategic capital deployment. Amer Khansaheb, CEO and Board Member of Union Properties, commented: 'This transaction is more than a sale – it is a signal of strength. With this transition, we bring our recovery plan to a close, settle all legacy debts, and lay the foundation for a bold new chapter. 'This milestone reflects not only the trust and confidence of the market in our vision, but also the resilience and discipline of our team in executing one of the most successful turnaround strategies in the sector. Today, we build from a position of strength, focused on strategic development, long-term value creation, and a sustainable impact across the UAE's real estate landscape.' The real estate project will make a meaningful contribution to the continued evolution of MotorCity, one of Dubai's most established and sought-after communities. Structured under a deferred payment framework, the agreement further reinforces Union Properties' disciplined financial approach. The initial deposit has already been secured, ensuring strong cash flow visibility and continued balance sheet optimisation. In a statement, Union Properties said it 'remains committed to delivering value-driven, market-responsive developments that elevate communities and support Dubai's broader urban vision'.
Zawya
20-07-2025
- Business
- Zawya
Standard & Poor (S&P) Reaffirms Islamic Corporation for the Insurance of Investment and Export Credit's (ICIEC) AA- Financial Strength and Issuer Credit Rating with Stable Outlook
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ( a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, has marked another significant milestone with the reaffirmation of its "AA-" long-term issuer credit and financial strength rating by Standard&Poor's (S&P), with a stable outlook. This rating remains the highest within its peer group globally. The reaffirmation underscores ICIEC's solid credit profile with robust financial strength and low credit risk. S&P expects ICIEC to continue expanding its business operations while maintaining robust levels of capital adequacy, exceptional liquidity buffers, and steadily increasing profitability. The rating report reconfirms ICIEC's Enterprise Risk Profile (ERP) as 'strong' under S&P's Multilateral Lending Institutions (MLIs) criteria, underpinned by the corporation's supportive shareholder base, strong Preferred Creditor Treatment (PCT), and unique policy role of conducting all business in a Shariah-compliant manner. Moreover, for the second year, S&P assesses ICIEC's Financial Risk Profile (FRP) as 'very strong' under its insurance criteria, as ICIEC's capital adequacy shows a significant buffer above the 99.99% confidence level, as measured by its insurers' risk-based capital model. Additionally, the Corporation maintains exceptional liquidity, reaffirming its upscaled financial strength. ' sincerely congratulate the Member States, His Excellency the Chairman and distinguished Members of the ICIEC Board of Directors, and the dedicated Staff for their unwavering commitment and sustained achievements." said Dr. Khalid Khalafalla, CEO of ICIEC. " Aligned with the IsDB Group's strategic direction, we reaffirm our deep commitment to supporting Member States through advancement of Islamic finance and key development priorities, including green financing, ESG integration, and food security. ICIEC will continue to play an integral role in implementing the Group's strategy in the years ahead." added Dr. Khalid. The reaffirmation of the "AA-" highlights ICIEC's strong financial position, prudent risk management, and sound governance practices. It also underscores the Corporation's ability to navigate complex global challenges and its commitment to supporting sustainable economic development in member states. Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): As a member of the 'AAA' rated Islamic Development Bank (IsDB), ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front to deliver a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC's 'AA-' long-term Issuer Credit and Financial Strength Rating for the second year with a stable outlook. ICIEC's resilience is underpinned by its sound underwriting, global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors—energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, Visit
