Dubai / WAM Shuaa Capital has approved the issuance of non-convertible bonds valued at $150 million in one or more tranches in a private placement. These bonds will be listed on a market outside the UAE, the company said in an announcement on the website of the Dubai Financial Market where its shares are listed. During the company’s ordinary general ...

Abu Dhabi / WAM Commercial and Islamic banks operating in Abu Dhabi recorded a total net income of around AED9.55 billion in Q2 of 2020, according to data issued by the Statistics Centre-Abu Dhabi (SCAD). The net income of traditional (commercial) banks in Abu Dhabi from interests, investments and other sources of income totalled AED8.5 billion, accounting for 89 percent ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) decided to resume operations of the four bus routes that serve the Global Village from the start of its new season 2020-2021. The RTA will also resume the electric Abra tourist services inside the village as of October 25, the date coincides with the silver jubilee of this premier tourist and ...

ABU DHABI / WAM Underlining Abu Dhabi’s reputation of prioritising the health of its residents and visitors, Mubadala Healthcare has introduced Wellness Ambassadors at all of its patient-facing facilities, including Cleveland Clinic Abu Dhabi, Imperial College London Diabetes Centre (ICLDC), Amana Healthcare, Healthpoint and Capital Health Screening Centre (CHSC). The initiative is part of a broader movement inspired by Etihad ...

Sharjah / WAM The Labour Accommodation Inspection Committee of the Sharjah Police, SP, recorded more than 21,000 violations against Covid-19 precautionary measures during its inspection campaigns at labour accommodations in various areas of the emirate of Sharjah. Brigadier Dr Ahmed Saeed Al Naour, Director-General of Central Operations in the Sharjah Police, and Chairman of the Executive Committee for Emergency, Crisis ...

Abu Dhabi / WAM The Ministry of Education (MoE) announced the implementation of the “Alef Platform” in all UAE public schools, which will allow the ministry to use the Alef Platform to achieve its goals of developing a digital education system capable of adapting with all possible changes caused due to Covid-19 pandemic and turn the challenges faced in distance ...

Bloomberg Veolia Environnement SA will buy a 29.9% stake in Suez SA from Engie SA for 3.4 billion euros ($4 billion), setting the stage for a full takeover — and potentially a long and acrimonious corporate battle. Engie’s board agreed to sell the stake after Veolia increased its price for its holding by 16% and offered guarantees on employment. A ...

Bloomberg ConocoPhillips is in talks to acquire rival Concho Resources Inc, according to people familiar with the matter, as one of America’s largest independent oil explorers looks to make a bold bet on shale during an historic industry downturn. The companies may announce a deal in the next few weeks, said the people, who asked to not be identified because ...

President Donald Trump took a tiny step back from his repeated refusals to say he’ll leave office if he loses the election. Yet he continued to portray a fair election as nearly impossible. The result is to continue to cast doubt on the election result and give himself room to challenge it if he loses the election “unfairly.” These claims ...

Another year, another conviction for yet another set of former managers of the world’s oldest bank. From afar, the Byzantine tale of Banca Monte dei Paschi di Siena SpA’s repeated failings — shameful as they are — might look like the company’s problem alone. But that isn’t the case. It’s bad enough that the executives who ran Paschi for years, ...