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 […]

MBME to list on Abu Dhabi Securities Exchange Growth Market on April 17

MBME Group, the UAE’s largest payment aggregation platform, has announced that it will list on the Growth Market of the Abu Dhabi Securities Exchange (ADX), thus becoming the first fintech company to be listed on the UAE’s financial markets. MBME is to list on April 17. The Group says it will expand its offerings, access […]

Dubai: Airline announces flight cancellations to Sudan amid ongoing conflict

Flydubai has cancelled flights to Sudan “due to the current situation in the country, a spokesperson of the respective airline informed. “Due to the current situation in Sudan, flydubai flights between Dubai and Khartoum Airport (KRT) have been cancelled from April 15 until April 17,” a flydubai spokesperson told Khaleej Times on Saturday. “We will […]

COP28 President-Designate calls on G7 Countries to deliver on practical, inclusive energy transition

  Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, while attending a joint meeting of G7 Ministers of Climate, Energy and the Environment, called on G7 nations to lead by example in making climate finance more accessible, more available, and more affordable, and to support efforts to accelerate […]

UAE calls on all parties in Sudan to exercise restraint, state media

  The United Arab Emirates called all parties in Sudan on Saturday to exercise restraint, de-escalate and work towards ending the crisis through dialogue, the state news agency reported. The agency said that the UAE Embassy in Khartoum was following “with great concern the developments in Sudan and has reaffirmed the UAE’s position on the […]

$5bln dollars of UAE investments in Brazil

Abdullah bin Touq Al Marri, Minister of Economy, said that the Emirati-Brazilian partnership is based on solid foundations of friendship and respect for mutual interests. ‘’The bilateral relations between the two countries have experienced real development in a variety of political and economic spheres, and they have been enhanced by several official visits at the […]

Dubai Customs nabs Asian traveler smuggling 880 grams of pure heroin

  Dubai Customs inspectors at Terminal 2 of Dubai International Airport foiled an attempt to smuggle 880 grams of pure heroin, ingeniously concealed in seven packages that were stuffed inside the suitcase poles, a laptop, and the bottom of the shoes being worn. Upon suspecting the passenger, a thorough search revealed seven carefully concealed packages […]