|
Report Date : |
06.04.2014 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No Trace |
|
|
|
|
Payment Behaviour : |
--- |
|
|
|
|
Litigation : |
--- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Arab Emirates ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable
annual trade surplus. Successful efforts at economic diversification have
reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the country has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with Washington and in
November 2004 agreed to undertake negotiations toward a Free Trade Agreement
with the US; however, those talks have not moved forward. The country's Free
Trade Zones - offering 100% foreign ownership and zero taxes - are helping to
attract foreign investors. The global financial crisis, tight international
credit, and deflated asset prices constricted the economy in 2009. UAE
authorities tried to blunt the crisis by increasing spending and boosting
liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily
exposed to depressed real estate prices. Dubai lacked sufficient cash to meet
its debt obligations, prompting global concern about its solvency. The UAE
Central Bank and Abu Dhabi-based banks bought the largest shares. In December
2009 Dubai received an additional $10 billion loan from the emirate of Abu
Dhabi. Dependence on oil, a large expatriate workforce, and growing inflation
pressures are significant long-term challenges. The UAE's strategic plan for
the next few years focuses on diversification and creating more opportunities
for nationals through improved education and increased private sector
employment.
|
Source : CIA |
IDEAL TOOLS &
HARDWARE FZE
Physical Address
PO Box : 10055
Town : Ras Al Khaimah
Country : United Arab Emirates
Upon investigation
local sources were unable to locate a company called “Ideal Tools &
Hardware FZE” in Ras Al Khaimah. They also consulted local business directories
and journals, as well as the local telephone operator however there was no
mention of the subject of your enquiry.
Enquiries made with
the Ras Al Khaimah Chamber of Commerce also proved unsuccessful as they only
divulge information on companies registered in Ras Al Khaimah to the local
police and law courts.
Please treat this
as a NO TRACE report.
Should you be able
to provide us with any further information on the subject of your enquiry we
shall re-investigate and endeavour to send you a full report as soon as
possible.
Note :
Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.
INFORMATION DETAILS
|
Analysis Done by
: |
Kar |
|
|
|
|
Report Prepared
by : |
mnl |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.