June, 2019

• 25 June

  Aramco says it can keep oil flowing if Hormuz hit

  

  Bloomberg Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer. “We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea and we have ...

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• 25 June

  Rakbank repays $800mn bond

  

  RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (Rakbank) has announced the repayment of the outstanding nominal amount of $681.67 million on its Rak Funding Cayman Ltd. 5-year $800 million bond matured on June 24. Rakbank had issued $500 million bond earlier this year in April 2019 through RAK Funding Cayman Ltd. Proceeds from the issue ...

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• 25 June

  Blue Racer weighs $2.5 billion IPO

  

  Bloomberg Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion, according to people familiar with the matter. The Dallas-based company, which is a 50/50 joint venture between private equity firm First Reserve and Caiman Energy II, is working with advisers to evaluate an IPO, said the ...

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• 25 June

  Mozambique gas riches near as $25b LNG plant okayed

  

  Bloomberg Anadarko Petroleum Corp. approved a $25 billion liquefied natural gas project in Mozambique that could help transform the economy of one of the world’s poorest countries. Chief Executive Officer Al Walker signed off on what he called the biggest ever foreign investment in Africa. Anadarko sees potential for Mozambique to become one of the largest LNG suppliers in the ...

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• 25 June

  AED40m road improvement project in Abu Dhabi complete

  

  ABU DHABI / WAM Abu Dhabi General Services Company (Musanada), in collaboration with the Integrated Transport Centre (ITC), completed all the works of the Al Maqtara-Hamim road traffic safety improvement project extending over 140 km at a total cost of approximately AED40 million. The project works included improving and increasing the traffic safety by carrying out necessary maintenance on the ...

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• 25 June

  Dubai’s Noor Bank rolls out ‘infinity treats’

  Dubai / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has enriched its customer loyalty programme with the launch of the Noor Bank Infinity Treats app as part of its wider loyalty platform. With this new feature, the bank aims to enhance user experience and deliver a more seamless and well-rounded rewards proposition. Noor Bank ...

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• 25 June

  Cityland Mall named ‘best commercial project of 2019’

  

  Dubai / Emirates Business Cityland Mall, the world’s first ‘nature-inspired’ shopping destination has been awarded the ‘The Best Commercial Project’ of 2019 at The Arabian Business Real Estate Awards. The recognition marks the company’s efforts to introduce a distinguished and unique project in the UAE real estate and retail landscape. The award was received by Chief Executive Officer and Board ...

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• 25 June

  Ministry of Defence, ICRC organise joint workshop

  

  ABU DHABI / WAM A three-day workshop jointly organised by the UAE Ministry of Defence (MOD), and the International Committee of the Red Cross (ICRC), began on Tuesday at the Armed Forces Officers Club in Abu Dhabi. The workshop entailed discussions on the Law of Armed Conflict during military operations. The MOD and the ICRC aim to promote cooperation in ...

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• 25 June

  Air Arabia set to launch direct flights to Vienna

  

  SHARJAH / WAM Sharjah-based Air Arabia on Tuesday announced the launch of direct flights between Sharjah and Vienna, capital of Austria, starting September 15. The non-stop six-hour flight to Vienna, popularly known as the ‘City of Music’, will operate seven times a week, from Sunday to Saturday. Flights on Sundays, Tuesdays, and Fridays depart Sharjah International Airport at 17:35 local ...

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• 25 June

  Stability, energy security vital for economic growth

  

  LONDON / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Abu Dhabi National Oil Company (Adnoc) Group CEO, participated, on Tuesday, in the inaugural ‘Bloomberg Emerging and Frontier Forum’, which brought together global financial policymakers in a dialogue on the key economic issues related to growth in emerging and frontier markets. Speaking during the day-long forum ...

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