April, 2021

• 6 April

  ADIB shareholders approve cash dividend of 46.6% of net profits

  

  Abu Dhabi / WAM Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of a cash dividend of AED20.58 fils per share, representing 46.6 percent of net profits for the fiscal year ending December 31, 2020, as well as the Board of Directors Report, the Auditors Report and Financial Statements for the year. In its 2020 annual report, ...

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• 6 April

  Pioneer to buy DoublePoint in $6.4b Permian deal

  

  Bloomberg Pioneer Natural Resources Co is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the US Permian Basin. The deal is comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and assumption of ...

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• 6 April

  Vinci seals $5.8b deal marking push into renewables

  

  Bloomberg Vinci SA’s move to buy a core business of Spain’s Actividades de Construccion y Servicios SA for about 4.9 billion euros ($5.8 billion) will turn the French infrastructure giant into a global player in renewable energies. The deal that was more than six months in the making expands Vinci’s reach into Spain and Latin America, according to a statement. ...

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• 6 April

  India delays again anti-pollution rules for coal power plants

  

  Bloomberg India’s environment ministry delayed anti-pollution guidelines for coal-fired power plants further, extending the compliance deadline by as long as two years. Plants located close to populated cities, including capital New Delhi, will now have to meet the standards by December 2022, a seven-year extension from the original plan to cap toxic emissions, including particulate matter, sulfur dioxide and oxides ...

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• 6 April

  KKR to buy stake in Sempra for $3.37b

  Bloomberg KKR & Co agreed to pay $3.37 billion for a 20% stake in a Sempra Energy unit comprising the US company’s infrastructure assets, including a liquefied natural gas project and a Mexican renewables and pipelines operator. It’s the latest example of a broader push among US utilities eschewing diversification to focus on providing electricity and gas to homes and ...

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• 6 April

  India now needs to move vaccines to warp speed

  

  A frightening second wave of Covid-19 has begun to sweep over the world’s second-biggest nation. Case numbers and deaths are spiking in India, threatening to overwhelm hospital systems; the financial capital Mumbai has re-imposed stringent lockdown rules. The government, which had earned global goodwill by exporting Indian-made vaccines to over 80 countries, is now holding back supplies for domestic use. ...

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• 6 April

  How Covid changed NYC realty deals

  

  $68,750: That’s how much my husband and I will be paying in rent over the course of our two-year lease in New York City. It was startling to see the total amount on our agreement — this could buy a home (albeit a fixer upper) in some places in the US or constitute a hefty down payment in others. I ...

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• 5 April

  Are you thrilled about tourism re-opening?

  Although Hawaii re-opened to tourists in October, it took a combination of spring break and pent-up travel fever before the airports felt close to normal again. By mid-March, the number of arriving domestic passengers exceeded 2020’s anemic levels by 400%. A surge in visitors is undoubtedly good for the state’s hard-hit tourism economy. But is it good for Hawaiians? A ...

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• 5 April

  Biden’s infrastructure plan does need work

  Like much of Joe Biden’s presidency to date, the $2.3 trillion infrastructure plan he laid out is remarkably ambitious. Rightly so. America’s economic future is at stake. The country needs a bold new commitment to public investment. The US is visibly falling behind. Any recent traveller to Beijing or Shanghai is struck by how shabby American airports and city grids ...

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• 5 April

  France, EU reach good deal on Air France aid: Le Maire

  

  Bloomberg The French government and the European Commission have reached an agreement in principle on fresh financial support for Air France, which has been hurt by a drop in air travel since the start of the pandemic, Finance Minister Bruno Le Maire said. “It’s very good news for Air France, it’s very good news for the whole French aviation sector,” ...

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