National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
Abu Dhabi National Energy Company (Taqa), plans to price a $1.5 billion two-tranche bond on Monday, amid strong demand, a bank document showed.
Guidance for the long five-year tranche, expected to be $500 million in size, was tightened to 90 basis points over Treasuries from earlier indications of 120 bps as order books reached over $5.5 billion.
A 10-year green bond issue is expected to be $1 billion in size with price guidance at 120 basis points over Treasuries, 25 bps tighter than initially indicated, with over $6.1 billion in orders.
Taqa, an integrated utility company majority-owned by the Abu Dhabi government, mandated banks last week for the senior, unsecured bond issue following an earlier launch of its green finance framework.
Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework.
BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, IMI-Intesa Sanpaolo, Scotiabank, SMBC Nikko and Standard Chartered Bank are mandated bookrunners and lead managers.
First Abu Dhabi Bank, HSBC, and Standard Chartered Bank are joint green structuring advisers.
National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
Customer deposits and Islamic customer deposits increased by 2.5% to reach Dh39.5 billion
Annual rents in Dubai are usually paid in two, four or six instalments via post-dated cheques
Saudi Arabia has begun to explore extracting lithium from sea water
RPM reported net profit of Dh49.39 million during 2023
Both parties must be taxable; or become taxable as a result of the transfer
Values reach an annual $2.6 billion in gross written premiums
The special incentive allows eligible companies to obtain interest-free loans of a maximum of Dh300,000 with a grace period of 6 to 12 months