ABU DHABI / WAM The National Bank of Abu Dhabi (NBAD) closed the syndication of its US$2 billion club loan facility with a large oversubscription. Commitments of nearly $3 billion were received in syndication from 14 major international banks across Europe, Asia and the United States. However, due to its excellent liquidity position, NBAD will not be increasing the …

  ABU DAHBI / WAM The Central Bank of the UAE (CBUAE) announced that, as of December 15, it has raised interest rates applied to its Certificates of Deposits in line with increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase Federal Funds Rate by 25 basis points. Certificates of Deposit, which CBUAE issues …

  MUSCAT / WAM The UAE participated in the meeting held on Thursday by Arab tourism ministers in Muscat, Oman to discuss efforts in developing the tourism industry in the Arab region. The UAE delegation at the 19th Arab Ministerial Tourism Council, an affiliate of the Arab League, is headed by Mohammed Khamis Al Muhairi, Under-secretary at the Ministry of …