Lack of Transparency in Senior Dubai Executive Departures

Last week saw the unexplained resignation of two senior executives, the chief executive of Jumeirah Group and the chief investment officer of EmiratesNBD. There are several pertinent facets to these announcements. First, both seemed to be abrupt as there was no permanent successor named in the reports. Second, both left after a relatively short tenure, with…

Analysing Abu Dhabi Investment Authority’s Performance

Last year I did a bit of complex analysis, mostly trying to estimate returns, to understand Adia’s 7.5% 30 year internal rate of return (IRR) ending in 2015. This year I will make it easier. Adia’s 2016 30-year IRR was reported as 6.9%. Did Adia perform poorly in 2016? It is difficult to tell as there…

Dana Gas seems confused about sukuk pricing

Dana Gas’s CEO thinks his sukuk coupons are above market even though the sukuk price is below market. This is inconsistent. I am not discussing any Sharia law issues here, just the simple dynamics of the bond (including sukuk) market. This opinion is based on an article in The National. According to Dana Gas’s CEO the…