News

TEXT - Fitch rates Jebel Ali Free Zone FZE 'B'/RWP pending proposed refinancing

Fitch Ratings has assigned the Jebel Ali Free Zone FZE (JAFZ) a Long-term Issuer Default Rating (IDR) of 'B'. The IDR is initiated on Rating Watch Positive (RWP), pending conclusion of the current refinancing. A successful conclusion of the refinancing as discussed below would result in an upgrade to 'B+' with a Stable Outlook.

A harsh lesson on charitable contributions

A California entrepreneur got a harsh lesson on the rules of charitable contributions this week when the U.S. Tax Court denied his $18.5 million deduction for real estate donations -not because he inflated their values, but because he didn't follow the rules.

Jennifer Aniston’s Sleek New $21 Million House in Bel Air

Gotta say I was kind of disappointed to see the new house Jennifer Aniston just bought in Bel Air, California. It’s a little “chilly” for me, and if I had $21 million to spend, this is probably not what I’d spend it on.