FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...Business Banking & Finance Markets
MoU signed to enrich Investopia summit’s discussions and workshops
Investopia investment summit has announced the signing of a Memorandum of Understanding (MoU) with Deloitte Middle East for collaboration to...The MoU was signed between Deloitte Middle East and Investopia investment summit taking place on March 28.
The two parties will jointly study significant economic areas such as investments in AI, social and environmental sustainability and governance.
German firm to build $3bn hydrogen plant in Egypt
The Egyptian government has partnered with the German energy storage firm H2 Industries to set up a green hydrogen plant...The German firm will invest $3 billion to establish the plant east of Port Said
The plant will have a production capacity of 300 million tons of green hydrogen per year
Turkey lifts ban on importing scrap metals from Lebanon after ministerial meet
Turkey has lifted the ban on importing scrap metals from Lebanon, which could secure about $100 million annually for Lebanon,...The embargo was imposed in 2018. Lebanon exported to Turkey more than 40 percent of the total exported scrap metal.
The ban was lifted after Lebanon Minister of Economy and Trade Amin Salam's meeting with Turkish ministers in Ankara.
DEWA and Tajik diplomats discuss tie-up in energy sector
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), met with Ilhom Abdurahmon, Consul-General of...The meeting at DEWA Head Office discussed ways to develop cooperation in energy and water sectors and topics of mutual interes
Abdurahmon expressed his appreciation for DEWA’s efforts to enhance partnership and friendly relations
Nakilat net profit $370m
This is the company's highest profit since its inception.Earnings per share (EPS) amounted to QR 0.24 as of 31 Dec 2021 versus Earnings per share (EPS) of QR 0.21 for the same period in 2020.
For this period, the company's Board recommends a cash dividend at QAR 0.12 per share.
Toshiba to split into 2 firms
This is a revision of an earlier proposal to divide into three companies.Toshiba aimed to complete the split in the second half of the 2022-23 financial year
Toshiba has revealed its deal worth some $867 million to sell air-conditioning subsidiary Toshiba Carrier to the US-based Carrier Corporation
DP World Q4 volume up 2.6%
The gross container volumes rose by 9.4% year-on-year.DP World has said its gross volume growth in 2021 overall was reportedly broad based
India, Asia Pacific, Middle East & Africa, Europe, Australia, and the Americas were key growth drivers
Participants from 42 countries to attend Abu Dhabi Date Palm Conference
The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th...Minister of Tolerance and Co-existence Sheikh Nahyan said that this year's conference is significant by all standards.
475 international researchers and experts will participate in the conference being held from 14-16 March.
UAE and France aim to team up to meet energy challenges
The UAE and France held discussions on energy challenges and opportunities for collaboration in order to maximize energy system efficiency...The discussion took place between Awaidha Al Marar, Chairman of the Abu Dhabi Department of Energy, and Xavier Chattel, Ambassador of France
Al Marar and Chattel underlined the importance of leveraging partnerships, Research & Development, and policymaking capabilities
Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings
Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.
Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.
