Business & Money | Thursday 11 January, 2024 2:04 pm

FAB issues first Sukuk globally in 2024

First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779%. This issuance marks the first Sukuk issued globally in 2024 and stands as the region's first offering for the year. The final spread for the Sukuk was set...

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Business & Money | Thursday 11 January, 2024 1:59 pm

Borouge signs AED160 million supply agreement with NAFFCO

Borouge Plc today announced the signing of an AED160-million agreement with NAFFCO, a UAE-based manufacturer and supplier of fire protection systems, to supply NAFFCO’s local and regional infrastructure projects with Borouge’s innovative and sustainable polyethylene (PE100)...

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Business & Money | Thursday 11 January, 2024 10:15 am

Saudia has Obtained a License to Provide Hajj Services for Pilgrims in Makkah, Medina, and Holy Sites

Saudia Hajj and Umrah, a subsidiary of Saudia Group, dedicated to enhancing the experience for pilgrims, has obtained a license from the Ministry of Hajj and Umrah to serve 10,000 pilgrims. The announcement follows the recent launch of Saudia Hajj and Umrah, signifying a groundbreaking moment...

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Business & Money | Thursday 11 January, 2024 9:48 am

Forbes Middle East ranks Abdullah Al-Bader among the Top CEOs in the Middle East 2023

Forbes Middle East has recognized Abdullah Al-Bader, the CEO of Almarai, as one of the top 100 CEOs in the Middle East in its annual list, 'Most Powerful CEOs in the Middle East 2023. Almarai, under Al-Bader's leadership, solidified its position over the last three years,...

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Business & Money | Wednesday 10 January, 2024 3:21 pm

Federal Tax Authority collaborates with Etihad Credit Bureau to enhance tax compliance

The Federal Tax Authority (FTA) has signed a membership agreement with Etihad Credit Bureau, the federal entity mandated with regularly collecting credit information from financial and non-financial institutions in the UAE, to strengthen bilateral cooperation and benefit from the Bureau’s...

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Business & Money | Wednesday 10 January, 2024 2:56 pm

Unlocking Opportunities: How SME Investment in the UAE Can Benefit Global Investors

Small and Medium Enterprises (SMEs) play a crucial role in the economic landscape of the United Arab Emirates (UAE). With the UAE government actively promoting entrepreneurship and diversification, SMEs have emerged as key drivers of growth and innovation. This article explores the potential...

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Business & Money | Wednesday 10 January, 2024 2:53 pm

Dubai Investments announces first flagship mixed-use development in Africa

Dubai Investments has marked a significant entry into the African markets with the announcement of its first flagship mixed-use development in Africa – the Dubai Investments Park (DIP) Angola. DIP Angola, the innovative 2,000-hectare unique integrated mixed-use residential, commercial and...

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Business & Money | Wednesday 10 January, 2024 1:17 pm

UAE economy expected to grow by 3.8% in 2025: World Bank

The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025. According to the Global Economic Prospects report released today, the World Bank forecast the growth in the Gulf Cooperation Council (GCC) countries to rise to...

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Business & Money | Wednesday 10 January, 2024 1:15 pm

ADIB launches B2B marketplace to empower Small and Medium Enterprises

Abu Dhabi Islamic Bank (ADIB) has announced the introduction of ADIB Business Souq, an innovative digital marketplace designed to provide comprehensive support to Small and Medium-sized Enterprises (SMEs). This all-in-one digital platform aims to significantly reduce the cost of doing business ...

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Business & Money | Wednesday 10 January, 2024 11:12 am

The Ports, Customs, and Free Zone Corporation introduces Innovative Solutions with the aim of Enhancing Customer Happiness

The Ports, Customs, and Free Zone Corporation achieved record numbers through its virtual employee "Naham," enhancing the experience for customers by addressing all inquiries related to the services provided by the Corporation and its affiliated business units. This was achieved through various...

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