Browsing: UAE

Banking

CBUAE And HKMA Expand Financial Market Collaboration

The Central Bank of the UAE (CBUAE) and the Hong Kong Monetary Authority (HKMA) held their second bilateral meeting in Hong Kong, strengthening ties between their financial sectors. The meeting, attended by Saif Humaid Al Dhaheri from the CBUAE and Stanley Chan from the HKMA, built on discussions initiated during their first meeting in Abu Dhabi in May 2023.

Business

DP World Launches MENA’s First $100M Blue Bond

DP World has issued a $100M blue bond, the first of its kind in the Middle East and North Africa (MENA) region, to fund initiatives supporting marine transportation, port infrastructure, reducing marine pollution, and promoting nature- and water-positive solutions. The five-year bond, priced at a 5.25% coupon rate, supports UN SDG 14 (Life Below Water) and SDG 6 (Clean Water and Sanitation), addressing the funding gap for these under-supported goals amidst growing global challenges like marine pollution and water scarcity.

Business

RTA Awards $5.6B Dubai Metro Blue Line Contract

Dubai’s Roads and Transport Authority (RTA) has awarded a AED 20.5B ($5.6B) contract for the construction of the Dubai Metro Blue Line to a consortium of Turkish companies MAPA and LIMAK, along with Chinese firm CRRC. The project will expand the Dubai Metro by 30km, adding 14 stations, and serve over one million residents by 2040, generating AED 56.5B ($15.4B) in economic benefits.