News

Bloomberg Al Jaber Group agreed with banks to restructure $1.5 billion of debt for a second time, people with knowledge of the plan said. The group is close to signing a deal with about 20 creditors to push out loan maturities to December 2026, said the people, asking not to be identified because the information is private. In return, Al ...

ABU DHABI / WAM Etihad Airways celebrated the deployment of its first Airbus A380 ‘super jumbo’ on its scheduled daily services to Seoul, Korea. The occasion was marked in style with a spectacular ‘Abu Dhabi Night’ evening reception at The Shilla Hotel in Seoul, with the venue hosting a unique opportunity to showcase the two cultures, Korean and Emirati, coming ...

Bloomberg Oil gained after suffering its biggest drop on the day of an Opec meeting in more than four years. Futures rose 0.8 percent in New York after an industry report showed US oil inventories fell by almost 5 million barrels last week. Prices were still far from recouping the 4.8 percent decline, when concerns about the global economy overshadowed ...

TIRANA / WAM Abu Dhabi Fund for Development, ADFD, has launched infrastructure projects in Albania valued at AED240 million ($65 million). A delegation of the fund led by Adel Al Hosani, Director of Operations Department at ADFD, participated in the official inauguration of the final phase of ADFD funded projects in capital Tirana, the Tirana Northern Boulevard and Tirana River ...

ABU DHABI / WAM Central Bank of the UAE has issued a commemorative silver coin and a commemorative one Dirham coin, on the occasion of celebrating the 50th anniversary of establishment of Commercial Bank of Dubai (CBD) with effect from Wednesday, July 3. A bank press release said the obverse face of the coin depicts the logo of the occasion ...

ABU DHABI / WAM The UAE’s new satellite ‘Falcon Eye’ — which will be launched into orbit next Saturday – has taken four years to be ready, going through several stages, ending up in being shipped from the French city of Toulouse to the French city of Guiana on June 1. The satellite is designed to provide global coverage for ...

ABU DHABI / WAM Experts at the path-breaking Abu Dhabi Climate Meeting, the precursor to the UN Climate Action Summit set to take place in September 2019 in New York, outlined a series of key recommendations that they believe are non-negotiable if the global community is to meet targeted climate action objectives. The first of these is driving green economy ...

Emirates Business Saudi German Hospitals Group has launched its first Saudi German Clinics at Umm Suqueim3 Jumeriah Road, Dubai, inaugurated by HE Humaid Al Qutami Director General of Dubai Health Authority and Dr Marwan Al Mulla CEO of the Health Regulation Sector, in the presence of Dr Reem Osman — Group CEO — SGH UAE. Saudi German Clinics allows quality ...

Dubai / Emirates Business Abu Dhabi National Insurance Company (Adnic) has completed the conversion of the mandatory convertible bonds it issued on June 15, 2016 into shares after reaching their three-year term. Following the conversion, Adnic’s paid up capital increased to AED570 million and the total number of Adnic shares to 570 million. The 195 million newly converted shares are ...

Dubai / Emirates Buisness Union Cooperative, the largest Consumer Cooperative in the UAE, announced that all UAE citizens will soon be able to buy their shares and investing in Union Coop. HE Majid Hamad Rahma Al Shamsi, Chairman of Union Coop said: “This decision is a result of continuous efforts made by the Board of Directors over the past years ...