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Bloomberg While US stocks fall ahead of what’s expected to be a hawkish Federal Reserve policy meeting, one investor just bet $65 million on a quick market rebound. The trade saw someone purchase roughly 20,000 call spreads that are linked to the S&P 500 and expire right before the Christmas holiday. The transaction involved selling calls with a strike ...
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December, 2021
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15 December
Borouge, Adnoc L&S to enable industrial growth in Ruwais
ABU DHABI / WAM Borouge, a leading petrochemical company providing innovative, value-creating polyolefin solutions, announced on Tuesday a new long-term agreement with Adnoc Logistics and Services (Adnoc L&S). Through this partnership, Adnoc L&S will manage integrated logistics for Borouge to a new main logistical hub at Khalifa Port and Kizad in Abu Dhabi. The new agreement covers transportation and ...
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15 December
Fanr okays 2022 operational plan for Barakah nuclear plant
Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (Fanr) convened and approved the operational plan of Fanr for the year 2022. The plan outlines a number of strategic projects to further strengthen Fanr’s regulatory oversight to regulate the nuclear and radiation sectors in the UAE to ensure the safety of public, ...
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15 December
Adib goes big on UK realty, with AED1bn of funding
Abu Dhabi / WAM Abu Dhabi Islamic Bank PJSC (Adib) announced that it has provided over AED1 billion in UK commercial real estate financing during 2021. The bank closed two deals in the UK in the month of November alone, taking its UK portfolio to around AED2.5 billion. Adib extended AED181 million in financing to Saudi Fransi Capital (SFC), ...
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15 December
Mubadala, Bahrain’s Mumtalakat to explore co-investment opportunities
ABU DHABI / WAM Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, on Tuesday signed a memorandum of understanding to facilitate strategic cooperation between the two institutions. As part of the MoU, Mubadala and Mumtalakat will explore worldwide co-investment opportunities. They will also exchange knowledge and best practices to enhance ...
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15 December
Global oil production may plunge 30% this decade
Bloomberg Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading towards a phase that could be dangerous if there’s not enough spending on energy,†Saudi oil minister Abdulaziz bin Salman said in Riyadh. The result could be an “energy crisis,†he said. The minister ...
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15 December
ADSB marks 25 years in business
Abu Dhabi / WAM Abu Dhabi Ship Building (ADSB), the regional leader in the design, new build, repair, maintenance, refit and conversion of naval and commercial vessels, today marked a major milestone in serving the naval and maritime industry in the UAE and beyond for 25 years. ADSB commenced operations with the vision of becoming a trusted naval defence partner ...
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15 December
Ajman’s DoF to ease payments of govt fees through 12 banks
AJMAN / WAM The Ajman’s Department of Finance has signed agreements with 12 local banks to offer an “easy payment plan”, which allows installment payments for government service fees to be made through the “Ajman Pay” platform when paid using any credit cards of these banks. The participating banks include First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Commercial ...
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15 December
Tawazun to boost performance of defense, security industries
Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) on Tuesday announced it has signed a memorandum of understanding (MoU) with the Tawazun Economic Council, the UAE defense and security industry and engineering and R&D programmes enabler. The MoU confirms Tawazun’s participation in the National In-Country Value (ICV) Programme, joining a number of other leading national ...
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15 December
Fanr reviews progress of Barakah nuclear plant
Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (Fanr) convened and approved the operational plan of Fanr for the year 2022. The plan outlines a number of strategic projects to further strengthen Fanr’s regulatory oversight to regulate the nuclear and radiation sectors in the UAE to ensure the safety of public, ...
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