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DUBAI / WAM Emirates NBD has successfully priced a five-year $600 million sukuk for Air Lease Corporation (ALC), marking the first sukuk issued by a US corporation. The strong demand for the sukuk saw orders of over $2.2 billion, allowing ALC to increase the offering to $600 million. The profit rate was tightened by 30 basis points to 5.85%, at ...

ABU DHABI / WAM Etihad Airways has announced the launch of reciprocal interline partnerships with three new airline partners — Philippine Airlines (PAL), Austrian Airlines (OS) and Airlink South Africa (4Z), while re-launching interline links with Biman Bangladesh and codeshares with Air Seychelles (HM) and ITA Airways (AZ). The deal means customers of all airlines involved will enjoy enhanced connectivity ...

DUBAI / GULF TIME REDTAG, the Middle East’s leading value-fashion and homeware brand, announced its Ramadan offerings, which include a new line of modest festive wear, free gifts, and vouchers. The limited-period offers will run between March 19 and April 22, bearing REDTAG’s promise of uncompromising value and embodying its time-honoured tradition of specialised offerings during Ramadan. Starting March 19, ...

ABU DHABI / GULF TIME in anticipation of the forthcoming holy month of Ramadan, Q Holding, one of the UAE’s major investment and business groups, inaugurated Al Reem Mosque on Reem Island, Abu Dhabi. The mosque is part of the Group’s CSR initiative for social outreach in the emirate of Abu Dhabi, and UAE in general, serving worshippers in the ...

COPENHAGEN/ WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, arrived in Denmark on Monday to co-chair the two-day Copenhagen Climate Ministerial alongside Sameh Shoukry, COP27 President and Egypt’s Minister of Foreign Affairs, and Dan Jørgensen, Denmark’s Minister for Development Cooperation and Global Climate Policy. This convening, attended by more than 40 government ...

DUBAI / WAM Dubai real estate market recorded 599 sales transactions worth AED1.34 billion, in addition to 86 mortgage deals of AED268.57 million, and 152 gift deals amounting to AED118.99 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 544 villas and apartments worth AED953.38 million, and 55 land plots worth AED387.22 million. The mortgages ...

UMM AL QAIWAIN / WAM The Umm Al Quwain Department of Tourism and Archaeology announced the latest developments in the archaeological excavation of Siniya island in its third season, indicating the existence of the oldest pearling town in the Arabian Gulf located on Siniya island, which flourished between the late 6th and mid-8th centuries AD. Sheikh Majid bin Saud bin ...

DUBAI / WAM The Mohammed Bin Rashid Aerospace Hub (MBRAH) announced the start of construction of the second phase of Dubai Helipark, its Helicopter Centre, in partnership with Air Chateau International. Air Chateau International was certified by the General Civil Aviation Authority to commence helicopter operations at the Dubai Helipark in 2022, providing a window for the multitude of private ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM) accomplished several notable achievements in 2022, making it the fastest-growing IFC in the region. ADGM has been instrumental in positioning Abu Dhabi as a leading financial powerhouse and a ‘falcon economy’ by leveraging its strengths and contributing to innovation, transformation, and diversification across various key sectors. In 2022, ADGM’s strategic impetus ...

DUBAI / WAM Marking the International Day of Happiness and as part of its pioneering efforts to upskill and empower employees, Emirates Health Services (EHS) has launched the Strategy for Happiness and Wellbeing, which aims to improve the work environment, and promote happiness among staff members by engaging both employees and leadership in the strategy. The launch ceremony, organised by ...