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Dubai / WAM Commercial Bank of Dubai (CBD) announced the issuance of a $600 million Additional Tier 1 (AT1) perpetual non-call 6-year bond, at a coupon of 6%, the lowest coupon from a Dubai bank issuer to date on a Basel III compliant AT1 bond. The transaction is the bank’s inaugural AT1 issuance, returning the bank to the capital markets ...

Abu Dhabi / WAM The highest number of submissions have been recorded for the 15th edition of the Sheikh Zayed Book Award, as its Reading Panel reported reviewing a record 2,349 submissions across nine categories, from 22 Arab and 35 foreign countries. The Reading Panel concluded its review of all submitted works, the highest number in the Award’s 14-year history, ...

DUBAI / WAM DP World Limited handled 18.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in Q3, with gross container volumes increasing by 3.1 percent year-on-year on a reported basis and up 1.9 percent on a like-for-like basis. On a nine-month basis, DP World handled 52.2 million TEU, decreasing 2.5 percent on a reported basis ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced it rolled out a company setup offer for businesses worldwide. According to DMCC, the offer provides international companies the opportunity to set up a representative office in one of the world’s leading business hubs in as little ...

Bloomberg The US and India are set to sign a defense agreement and boost trade ties in high-level talks that come as the South Asian nation sees its worst border conflict with China in four decades. Secretary of State Michael Pompeo arrived in New Delhi on Monday and along with Defense secretary Mark Esper will attend a 2+2 ministerial dialog ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has inaugurated the Hamdan Smart Station for Simulation and Training. The state-of-the-art training facility of the Transport Security Department in Dubai aims to enhance security efforts and increase the readiness of security and law enforcement personnel. Equipped ...

Dubai / WAM Emirates Post in collaboration with the Emirates Nuclear Energy Corporation (Enec), issued a distinctive commemorative stamp to celebrate the start-up of the first unit of the Barakah Nuclear Energy Plant, located in the Al Dhafra region of Abu Dhabi. The Barakah Plant, the first operating nuclear energy plant in the Arab World, recently started to generate clean ...

Bloomberg Singapore is seeking to reduce the amount of time it takes to regularly check migrant workers for coronavirus infection by piloting the use of antigen rapid tests. For a period of four weeks, a group of 1,000 migrant workers will undergo antigen rapid testing every seven days, the Ministry of Manpower said in a statement. That’s in addition to ...

Bloomberg Cheng Uei Precision Industry Co, a Taiwan-based cable and connector maker, will start mass production for Apple Inc later this year from its new plant in India, according to a person familiar with the matter, the latest sign of the US company’s increasing presence in the South Asian country. Apple’s major assembly partners, Taiwan’s Foxconn Technology Group, Pegatron Corp ...

Bloomberg China is reconsidering its strategy for the internationalisation of the yuan and planning for more policy support after completing a comprehensive review recently, according to a senior central bank official. “As everybody knows in the past, the internationalisation of the RMB (yuan) sticks to the market principles,” Zhu Jun, director general of the People’s Bank of China’s international division, ...