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ABU DHABI / WAM First Abu Dhabi Bank (FAB) has raised almost $200 million assets under management (AUM) through a new Fixed Maturity Portfolio (FMP) — marking record subscription levels. The portfolio includes the second series of FAB’s conventional fixed maturity portfolio, following a successful first series roll-out in 2023, as well as the bank’s first Shari’ah-compliant FMP. Launched to ...

DUBAI / WAM Nasdaq Dubai welcomed the listing of $500 million Sukuk issued by Dubai Islamic Bank (DIB). The additional Tier 1 (AT1) Sukuk was issued at a profit rate of 5.25 percent per annum and received strong investor demand, resulting in substantial oversubscription. This strategic issuance reinforces DIB’s leadership in the global Islamic finance sector, providing additional capital to ...

KAZAN/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Wednesday attended the 16th BRICS Summit, inaugurated by His Excellency Vladimir Putin, President of the Russian Federation, in the Russian city of Kazan. This marks the UAE’s first participation in the summit as a full member of BRICS. The summit, chaired by Russia this year, is being held ...

KAZAN/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan met today with a number of world leaders and heads of delegations participating in the 2024 BRICS Summit, which is being held in Kazan under the chairmanship of the Russian Federation. His Highness held discussions with His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt; His ...

SHARJAH / WAM The Sharjah Broadcasting Authority (SBA) is participating in the “MIPCOM 2024” global exhibition for entertainment and television content, taking place at the Palais des Festivals in Cannes, France. This event, taking place until October 24, features participation from over 100 countries, providing a leading platform to enhance the authority’s international presence and highlight its diverse productions. During ...

DUBAI / WAM Dubai Chamber of Commerce, one of three chambers operating under the umbrella of Dubai Chambers, recently organised the third quarterly meeting of business groups and councils for 2024 with the participation of representatives from private sector companies across the emirate. During the meeting, the Dubai chamber highlighted the latest developments in the local economy, its growth prospects ...

ABU DHABI / WAM The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) is participating in the 18th edition of the Al Dhafra Festival, which commenced in Sweihan, Abu Dhabi. The event is organised by the Abu Dhabi Heritage Authority and will continue until January 30 2025. During the festival, ADAFSA will provide logistical and veterinary services to camel owners ...

ISTANBUL / WAM Calidus Aerospace, a member of the Emirates Defence Companies Council, has signed strategic collaboration agreements with Turkish defence companies ASELSAN and HAVELSAN during the first day of the SAHA EXPO 2024 in Istanbul. These agreements aim to strengthen defence cooperation between the UAE and Türkiye in the field of advanced defence technologies. The signing ceremony was attended ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday crowned Hatem Mohammed Jassim Al Tarkawi from Syria, Kadi bint Musaffar Al Khathaami from Saudi Arabia, and Salsabil Hassan Sawalha from Palestine as the 8th Arab Reading Champions at the concluding ceremony of the challenge, ...

ABU DHABI / GULF TIME NMDC Energy JCSJ (ADX: NMDCENR), a majority-owned subsidiary of NMDC Group (ADX: NMDC), has reported strong third quarter financial results in its first earnings announcement since its recent initial public offering (IPO). NMDC Energy delivered a 145% year-on-year increase in net profit for the three months ending 30 September 2024, from AED 164 million to ...