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Business, Economy

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

UAE to issue dual-tranche dollar benchmark size bonds

The value of realty transactions grew by 8.5 percent compared to 2021. (WAM)
By TRENDS Desk
June 23, 2022 5:06 pm
  • The bonds are a 10-year tranche and a 30-year Formosa tranche.
  • The 10-year tranche will be listed on London Stock Exchange and Nasdaq Dubai, and the 30-year tranche will be listed on LSE, Taipei Exchange and Nasdaq Dubai.

The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and a 30-year Formosa tranche.

The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE), Taipei Exchange and Nasdaq Dubai.

The Ministry of Finance authorized Abu Dhabi Commercial Bank, Bank of America Securities, Citigroup Global Markets Limited, Emirates NBD Capital, First Abu Dhabi Bank, HSBC Bank, J.P. Morgan Securities, Mashreqbank, and Standard Chartered Bank to be Lead Managers and Bookrunners to arrange and market to investors.

It also authorized the Industrial and Commercial Bank of China joining the mandated group as Co-Manager.

The UAE government is rated AA- by Fitch, and Aa2 by Moody’s, with a stable outlook for the national economy.

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