ABU DHABI / WAM First Abu Dhabi Bank (FAB) announced the issuance of the largest-ever Chinese Yuan (CNH) denominated dual-listed Formosa bond globally, with a CNH 3.25bn five-year issuance. Despite the GCC-wide public holiday, FAB was able to attract a high quality international orderbook of more than CNH 3.6 billion, which enabled it to upsize its target issuance from CNH ...

Bloomberg Oil dropped towards $40 a barrel in New York after the biggest gain in two weeks as investors weighed additional Opec+ supply hitting the market against signs of a recovery in major economies. Opec’s crude output rose last month, led by Saudi Arabia, ahead of the group and its allies relaxing their historic cuts this month, according to a ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has received Brigadier General Miguel A. Correa, Senior Director for Gulf Affairs, Middle Eastern Affairs Directorate, National Security Council at the Executive Office of the US President. During the meeting — which was held at the Foreign Ministry headquarters in Abu ...

Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE’s national railway, is tripling its fleet by announcing the award of a contract for the manufacture, supply and commissioning of 842 new wagons bringing its total fleet to more than 1,000 units to serve the whole network. This expansion paves the way for the rail transport to ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has listed $4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding (MDGH). According to a statement issued by ADX on Tuesday, MDGH is the debt issuing entity of Mubadala Investment Company, and the MDGH bonds have their primary ...

Abu Dhabi / WAM The Telecommunications Regulatory Authority (TRA) stymied approximately 120, 038 cyber-attacks, during July, according to the authority’s monthly report. The report, which addresses the cybersecurity developments in the Federal Government of the United Arab Emirates for April, noted that the National Computer Emergency Response Team (CERT) responded the cyber-attacks which varied between malware (78 percent), vulnerabilities (11 ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the UAE, has launched innovative new protective wear for First and Business class guests. As part of its new health and hygiene programme, Etihad Wellness, premium passengers will receive a snood style facemask for use throughout their journey and beyond. The soft reusable snood has been treated with MicrobeBARRIER ...

Bloomberg BP Plc slashed its dividend for the first time in a decade and set out new targets to accelerate its shift to greener energy after the coronavirus pandemic upended the oil business. The u-turn in its dividend policy was expected after European peer Royal Dutch Shell Plc slashed its own payout in April. Big Oil’s generous dividends have long ...

Bloomberg Europe may lock-in raised targets for renewables and energy efficiency as part of its Green Deal strategy to zero-out greenhouse gases by the middle of the century. The European Union’s executive on Tuesday outlined options on how existing laws could be revised to accelerate the ambitious environmental clean-up. The findings will complement a wider look at toughening the EU’s ...

Bloomberg A Singapore startup is seeking to connect potential buyers and sellers of solar power directly. Electrify Pte’s platform lets owners of homes and businesses bid and offer rates for specific amounts of electricity. By selling directly to users rather than the grid, solar owners can get more money for their power, while consumers avoid paying a premium for renewable ...