December, 2021

• 30 December

  EGA pays off $361 million debt ahead of schedule

  

    Abu Dhabi / WAM Emirates Global Aluminium (EGA) on Thursday announced the early, full repayment of the project finance facilities extended by 13 export credit agencies and banks for the development of the company’s Al Taweelah smelter in Abu Dhabi. The project financing was extended to Emirates Aluminium, now an EGA subsidiary, for phase one of the project in ...

  Read More »
• 30 December

  Masdar to develop Georgia’s largest solar power plant

  

    ABU DHABI / WAM Masdar, one of the world’s leading renewable energy companies, has signed an agreement with the Georgian Energy Development Fund (GEDF) to develop a solar photovoltaic (PV) power project in the country, with a capacity of as much as 100 megawatts (MW). The project, which will be jointly developed with the GEDF, will be Georgia’s largest ...

  Read More »
• 30 December

  Abu Dhabi to host region’s first tyre storage, distribution hub

  

    Abu Dhabi / WAM AD Ports Group has announced the signing of an agreement with China-based Shandong Port Group, to establish a Tyre Hub at Kizad for the storage and distribution of tyres. AD Ports Group will provide space for an upcoming 150,000 sqm facility in Kizad under its Industrial Cities and Free Zone Cluster. This will include warehouse ...

  Read More »
• 30 December

  EGA pays off $361mn debt ahead of schedule

  

    Abu Dhabi / WAM Emirates Global Aluminium (EGA) on Thursday announced the early, full repayment of the project finance facilities extended by 13 export credit agencies and banks for the development of the company’s Al Taweelah smelter in Abu Dhabi. The project financing was extended to Emirates Aluminium, now an EGA subsidiary, for phase one of the project in ...

  Read More »
• 30 December

  Abu Dhabi to set up region’s first tyre storage, distribution hub

  

    Abu Dhabi / WAM AD Ports Group has announced the signing of an agreement with China-based Shandong Port Group, to establish a Tyre Hub at Kizad for the storage and distribution of tyres. AD Ports Group will provide space for an upcoming 150,000 sqm facility in Kizad under its Industrial Cities and Free Zone Cluster. This will include warehouse ...

  Read More »
• 30 December

  Emirates expects a peak travel period on New Year Eve

  

    Dubai / Gulf Time As the year draws to a close, a high volume of passengers are expected to surge through Dubai International to meet their travel plans for the New Year celebrations and the holidays season. With nearly 1 million travellers departing and arriving into Dubai, the peak travel period will last through January 10, 2022. In line ...

  Read More »
• 30 December

  Cathay plans to cancel flights as quarantine rules hit crew

  

    Bloomberg Cathay Pacific Airways Ltd. will make “significant” changes to its flight schedule as Hong Kong further tightens quarantine restrictions for aircrew, dealing another blow to a carrier already reeling as the city’s borders remain largely closed. The airline is tentatively planning to cancel some passenger flights to and from the city through the first quarter of 2022, it ...

  Read More »
• 30 December

  US shopping visits to discount retailers surged in December

      Bloomberg Americans flocked to off-price retailers during the holiday period, with visits rising above pre-pandemic levels, according to new data. Foot traffic at T.J. Maxx and Marshalls, both owned by TJX Cos., rose 14.7% and 16.2%, respectively, from December 1 to Christmas Day compared with a year earlier, data from analytics firm Placer.ai show. Burlington Stores Inc.’s foot ...

  Read More »
• 30 December

  SenseTime jumps 23% on debut after IPO delayed by US sanctions

  

    Bloomberg Chinese artificial intelligence giant SenseTime Group Inc jumped on its first day of trading in Hong Kong after a rocky initial public offering that was delayed by concerns over fresh US sanctions. The stock gained as much as 23% in early trading before ending 7.3% higher, the biggest first-day gain since mid-July for any Hong Kong IPO that ...

  Read More »
• 30 December

  Stocks, futures mixed; dollar and Treasuries rise

  

    Bloomberg Stocks were mixed and US futures fluctuated on Thursday in the wake of another Wall Street all-time high on light volumes in the final days of the year. Treasury yields trimmed an advance. The Stoxx Europe 600 gauge was little changed at the open, with technology shares bouncing back to pare some of Wednesday’s drop. Contracts on the ...

  Read More »