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Saudi targets $2 billion with new Islamic bonds - Dotemirates

Saudi targets $2 billion with new Islamic bonds

Bloomberg Saudi Arabia started the sale of dollar-denominated Islamic bonds and is seeking to raise about $2 billion to complete the kingdom’s external funding requirements for the year.The world’s biggest oil exporter mandated BNP Paribas SA, HSBC Holdings Plc, JPMorgan Chase & Co., Citigroup Inc., Mizuho Bank and Samba Capital for the deal, according to a term sheet seen by Bloomberg. The kingdom set initial price guidance for the January 2029 notes in the area of 145 basis points over midswaps.Global books are open and the deal is today’s business.Saudi Arabia plans to borrow about $31 billion this year to...


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UAE News

12/04/2019

Filipinos to choose next legislators

Filipinos in the UAE will begin the month-long Philippine overseas absentee voting (OAV) today to choose the next 12 senators and a party-list representative in Congress. According to the Philippine missions, there are around 320,000 registered Filipino voters in the country, or roughly 18 per cent of the total 1.78 million Filipino voters worldwide. The Philippine Consulate in Dubai has recorded the highest number of voters among all diplomatic posts with around 209,000 voters while Abu Dhabi has around 109,000 registered Filipino voters. In Dubai, Consul-general Paul Raymund Cortes said the mission has 11 clustered precincts at the consulate and...
12/04/2019

First bus route from Dubai to Al Ain launched

The Public Transport Agency at the Roads and Transport Authority - Dubai has launched the first bus on the new route between Dubai and Al Ain Region. The initiative was organised in coordination with the Department of Transport, DoT, in Abu Dhabi. DoT affirmed that the new route will fulfill the increasing demand for public transport services between Dubai and Al Ain and will enhance the quality of services offered between the emirates and cities in the UAE.  Dubai's RTA to launch 9 new bus routes on April 7 The new route (E201) departs from Al Ghubaiba bus station in...
12/04/2019

Car enthusiasts return for 10-day action in Dubai

A total of 80 vintage, super and custom-built cars, trucks and bikes took to the UAE roads at the fifth annual City 'Overdrive' at City Walk. The vehicles, uniquely modified and imported, will be on display until April 20. The vehicles include uniquely custom-built cars, vintage models, supercars, monster trucks and modified bikes - such as the GTR RB 34, vintage Mini Cooper Rat Rods - that have previously not taken to the UAE's tarmac. Over the next few days, City Overdrive will also witness the debut of uniquely modified cars and imported vehicles. To be displayed along the stretch...

12/04/2019

Gaming ban won't work in UAE: Emirati fathers

The idea of 'teching down' today's youth may sound like the best way to decrease the negative impacts of over-consumption when it comes to online and digital content - but the reality for parents today is, it's just not that easy anymore. Gadgets have become the mainstay in the digital age, not only in the workplace but at home, too. They have become necessary to stay abreast of today's fast-growing, digitally focused world. So instead of trying to limit access, a number of people believe better education about time spent on connected devices is what's needed. A group of men...
12/04/2019

20 patients to get free dialysis every month

Twenty needy patients will be given free dialysis by the Dubai Health Authority (DHA) every month. The DHA has launched the 'Save a Life' initiative for the patients - including expatriates - who cannot afford the treatment. Dialysis becomes necessary when people lose 85 to 90 per cent of their kidney function. It is estimated that more than 550 million people worldwide are affected by chronic kidney disease, and millions die each year because they do not have access to treatment such as dialysis. Dialysis is a way of cleansing the blood when kidneys can no longer do the job....
12/04/2019

'Vote vehicle' from Capital to hit Kerala roads

A special 'vote vehicle' from Abu Dhabi will head to Kerala to urge Indian expats who have flown home to cast their vote in the ongoing general elections. The 'vote vehicle' is launched by Incas Abu Dhabi, an expat organisation affiliated with the Indian National Congress. Incas president Yesusheelan, vice-president A. M. Ansar and treasurer Shibu Varghese will be heading the pan-Kerala trip. "There are many expatriates who are already in Kerala for the elections. They will join us in each constituency. We will also be meeting expat families across the state and urge everyone to vote," said Varghese, who...