Updated 11 min 9 sec ago
May 25, 2021 08:32
DUBAI: Abu Dhabi plans to sell US dollar bonds on Tuesday in its first foray in the international debt markets this year, raising cash for state coffers despite a recent rebound in oil prices.
The oil-rich emirate gave initial guidance of 70-75 basis points over US Treasuries for seven-year US dollar-denominated bonds expected to price later in the day. It did not say how much it intended to raise.
The UAE was hit hard by the COVID-19 pandemic and last year’s crash in oil prices, but a rebound in global crude demand as economies re-open has reduced the urgency to borrow for budget purposes.
DUBAI: Dubai’s DMCC commodities hub has become the second free zone in the emirate to target the crypto sector.
It has launched the DMCC Crypto Center for businesses operating in the cryptographic and blockchain sectors and comes just days after the Dubai Airport Freezone Authority (DAFZA) said it has won regulator approval for the trading of crypto assets.
A recent move by the UAE government to legalize full foreign ownership in some sectors of the UAE economy means that some free zones are now looking to change their business models.
Located in Dubai’s Almas Tower, the DMCC Crypto Center is set to be a hub for the development and application of crypto and blockchain technologies, DMCC said in a statement carried by the WAM news agency.
DUBAI: An amateur video featuring a south Indian bride and groom has gone viral on social media after the couple filmed their post-wedding celebrations on a chartered flight joined by more than 160 guests on board.
The couple’s party took place on a SpiceJet Boeing 737, surrounded by relatives and guests, in what was described as a clear defiance of Covid-19 lockdown rules in India.
The unnamed couple were celebrating as the plane flew over historic Meenakshi Amman temple on its way from Madurai to Bangalore, according to Hindustan Times newspaper said.
Online photos showed passengers with flowers around their necks and taking selfies. Most of them were seen without face masks and not observing Covid-19 protocols.
LONDON: Journalists at the Associated Press (AP) published an open letter on Monday condemning the decision by the company to fire journalist Emily Wilder for violating social media policies.
Wilder, a Jewish journalist, was fired by the company only weeks after joining the AP in early May. The decision to fire her came shortly after rightwing conservatives at Stanford University, Wilder’s alma mater, published posts showing her pro-Palestinian activism while a college student.
The open letter from journalists at the AP said: “It has left our colleagues particularly emerging journalists wondering how we treat our own, what culture we embrace and what values we truly espouse as a company.”
JUBA – The World Food Programme (WFP) condemns looting of its food assistance and destruction of humanitarian storage units in South Sudan’s Greater Pibor Administrative Area in Greater Jonglei.