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Month: April 2020

Posted on 19/04/2020

Abu Dhabi’s $7m bond offering draws strong investor interest

Offering was more than 6.3 times oversubscribed and order book reached in excess of $45bn A $7 billion multi-tranche international bond offering by Abu Dhabi was more than 6.3 times oversubscribed, …
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Posted on 19/04/2020

Coronavirus latest: UAE Central Bank says banks have used 30% of Covid-19 support fund

UAE infections rose to 6,781 on Sunday, with recoveries reaching 1,286 UAE banks have tapped 30 per cent of a Dh50 billion Targeted Economic Support Scheme (Tess) facility to help businesses and …
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Posted on 19/04/2020

Combating coronavirus: UAE outperforms the world with 77,550 tests per million people

The UAE has maintained its global leadership in maximising Covid-19 coronavirus tests in terms of the number of tests per 1 million people. It has also implemented precautionary measures appreciated …
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Posted on 19/04/2020

Abu Dhabi borrows $7B to counter slumping oil prices

The Emirate of Abu Dhabi said Sunday it had sold bonds worth $7 billion in the third major sale this month by Gulf sovereigns seeking to counter slumping oil prices. OPEC kingpin Saudi Arabia last …
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Posted on 19/04/2020

Abu Dhabi borrows $7 billion as low oil price bite

Abu Dhabi, which has the biggest sovereign wealth fund in the Gulf Cooperation Council (GCC), said that its offering was oversubscribed by more than six times.
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Posted on 19/04/2020

Abu Dhabi issues $7bn in multi-tranche bonds

Abu Dhabi said it has priced a $7 billion multi-tranche international bond offering as part of its medium-term strategy focused on optimising the capital structure of the emirate. In a statement today …
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Posted on 19/04/2020

Abu Dhabi Sells $7 Billion of Bonds to Counter Falling Oil Prices

The transaction contained three tranches- a $2 billion five-year tranche, a $2 billion 10-year segment, and a third tranche of $3 billion maturing after 30 years – the Abu Dhabi department of finance …
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Posted on 19/04/2020

Ramadan 2020 in UAE: Sheikh Mohammed announces ’10 million meals’ campaign for Ramadan

The national initiative aims to align the country’s policies, work environment and all procedures with the UAE being a global incubator for tolerance. Image Credit: Twitter/@HHShkMohd Dubai: His …
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Posted on 19/04/2020

UAE central bank urges lenders to utilise $70bln economy support package

The governor of the UAE central bank met with the various lenders in the country last week and urged them to utilise the allocated funds from the Targeted Economic Support Scheme (TESS) facility in …
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Posted on 19/04/2020

Coronavirus: UAE leaders’ response to Covid-19 ranked among Top-10 in the world

Indicators were designed to rank how effective a country’s leadership is and how prepared its health systems are in tackling the pandemic. The UAE has been ranked among the top 10 countries with the …
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Posted on 19/04/2020

COVID-19: More special flights from UAE to Pakistan announced to repatriate stranded passengers

Dubai: Good news for stranded Pakistanis as more special flights have been announced to repatriate more than 3000 passengers from UAE to Pakistan this week. At least four flights will be operated by …
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Posted on 19/04/2020

March sees over $843bln in gross bank assets: UAE Central Bank

ABU DHABI- The UAE Central Bank announced on Sunday that gross bank assets for March 2020 had reached AED3.128 trillion, a growth of 1.1 percent from the previous month. In a statement, the Central …
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Posted on 19/04/2020

Pakistan Starts Repatriating UAE-Based Nationals Stranded by Coronavirus

Pakistan has started repatriating some of its citizens from the United Arab Emirates, which had threatened to review labor ties with countries refusing to take back their nationals during the novel …
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Posted on 19/04/2020

Combating coronavirus: UAE researchers, scientists to produce vital medical equipment

The move is to support the UAE’s nationwide drive to mitigate, contain and prevent the spread of the coronavirus in the country. The group has already successfully assembled their first ventilator …
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Posted on 19/04/2020

Dubai Economy receives 11,655 consumer complaints in Q1 2020; electronics tops the list

The increase signifies the persistent focus of Dubai Economy on protecting consumer rights … he is respected for his astute understanding of the local business scene.
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Posted on 19/04/2020

COVID-19: Dubai Silicon Oasis Authority offers rent waivers and other incentives to businesses, residents

Dubai: Dubai Silicon Oasis Authority (DSOA) announced exemptions, incentives and flexible payment plans for companies, commercial tenants, and residents occupying buildings owned by the Authority.
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Posted on 19/04/2020

Abu Dhabi issues $7bln in multi-tranche bonds

Strong demand from international investors representing 90% of the final orderbook Issuance capitalizes on solid market conditions as part of Abu Dhabi’s debt management strategy Abu Dhabi: …
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