ABU DHABI / WAM The Central Bank of the UAE (CBUAE) and Bank of Korea (BOK) renewed their bilateral currency swap agreement (BCSA), which was originally signed in October 2013 at a value of $5.4 billion, reaffirming their commitment towards promoting trade and financial cooperation between the two countries. The agreement, which contributed significantly to development of economic and financial …

Bloomberg Stocks in Abu Dhabi are poised to reach their highest since September 2014 after the main gauge’s largest constituent First Abu Dhabi Bank (FAB) PJSC implemented a decision to raise its foreign ownership limit. The lender’s shares gained as much as 4.8 percent on Sunday, the most in a month. The increased cap for foreigners could trigger passive inflows …

SHARJAH / WAM Dana Gas has announced that during Q1 2019, Pearl Petroleum received $112 million (AED411 million) from the sale of condensate, liquefied petroleum gas, and gas in the Kurdistan Region of Iraq (KRI). Dana Gas is a 35 percent shareholder in Pearl Petroleum and its share of such receipts by Pearl Petroleum is $39 million. This presents 117 …