Qatar and UAE in process of restoring diplomatic ties, official says

  Qatar and the United Arab Emirates (UAE) are in the process of restoring diplomatic ties and reopening embassies, two officials said, more than two years after Arab states ended a boycott of Doha that had shattered the Western-allied Gulf Arab bloc. “At present, the activation of diplomatic ties, which will include the reopening of […]

UAE property developer DAMAC to sell 3-year Islamic bond Tuesday

  Dubai-based real estate developer DAMAC plans to sell a benchmark-sized three-year Islamic bond, or sukuk, on Tuesday, a bank document showed, following a series of investor calls and meetings that kicked off last week. Benchmark-sized is understood to mean at least $500 million. The company, rated BB- by S&P, has given initial profit rate […]

Etihad Cargo, China’s SF Airlines connect their mega hubs

  Etihad Cargo, the cargo and logistics arm of Etihad Airways, has reinforced its commitment to the Chinese market with the signing of a Memorandum of Understanding (MoU) with China’s SF Airlines. As per the MoU, both carriers will start operating flights via their respective fleets to the other carrier’s hub in April, which will […]

Former Union Properties chairman, others to pay company $168.8mln

Union Properties PJSC has reached an AED 620 million ($168.8 million) settlement with its former chairman and other board members following a troubled period for the Dubai-listed developer. Bourse filings to Dubai Financial Market (DFM) said the general assembly agreed the proposed settlement from Khalifa Al Hammadi and others, under which they will pay the […]

Abu Dhabi TAQA places $1.5bln in dual tranche notes

Abu Dhabi National Energy Co. (TAQA) has placed an aggregate of $1.5 billion in 5-year and 10-year dual-tranche senior unsecured notes. The $1billion 10-year notes which will mature on 24 April 2033, were issued at a coupon rate of 4.696%, the integrated utility firm said in a statement on Tuesday. They represent TAQA’s first green […]