Dubai Islamic Bank closes landmark $750 million Sukuk

DUBAI, Dubai Islamic Bank PJSC, DIB, successfully closed a US$%750 million 5-year Sukuk with a profit rate of 2.950 percent per annum, which is equivalent to 140bps over the 5-year Mid Swap Rate.

The transaction is DIB’s second foray into …

OPEC daily basket price stood at $63.44 a barrel Monday

VIENNA, The price of OPEC basket of fourteen crudes stood at US$63.44 a barrel on Monday, 18th November, compared with $63.12 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of the …

ION commences operations in Abu Dhabi, Dubai and Sharjah

ABU DHABI, ION, the UAE-based sustainable transport company, which was announced in 2018 as a joint venture between Bee’ah and Crescent Enterprises, has now set up operations in Abu Dhabi, Dubai and Sharjah.

The first ever green mobility solutions provider …

Abu Dhabi National Exhibitions Company Board restructured

ABU DHABI, Abu Dhabi Development Holding Company, ADDHC, has issued a resolution to restructure the board of Abu Dhabi National Exhibitions Company, ADNEC.

The new board is chaired by Saif Saeed Ahmed Ghobash and includes the following members: Hamad Hareb …