ADIB Successfully Completes Redemption Of Its $750 Million US Dollar Denominated Tier-One Perpetual Sukuk Issued In 2018

ADIB Successfully Completes Redemption Of Its $750 Million US Dollar Denominated Tier-One Perpetual Sukuk Issued In 2018

Abu Dhabi Islamic Bank (ADIB), a prominent financial institution, has announced the successful completion of the planned redemption of its USD 750 million additional tier-one (AT1) perpetual sukuk on the first call date, September 20, 2023.

These sukuk were initially issued on September 20, 2018, with a profit rate of 7.125 percent. They have now been fully redeemed at the trustee call amount, which is equal to the prevailing face amount of the certificates plus any outstanding payments as of September 20, 2023. Following the redemption, the trading of the certificates on the regulated market of the Irish Stock Exchange has been cancelled.

UAE Oncology Conference 2023: Global Experts Convene to Advance Cancer Care

UAE Oncology Conference 2023: Global Experts Convene to Advance Cancer Care

The fourth annual conference of the Emirates Oncology Society commenced yesterday in Dubai under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence.

Organised by the association with the support of the Emirates Medical Association and the Gulf Oncology Society, the event spans two days and has drawn more than 1,400 specialists in the field of oncology and related disciplines.

DUBAI UNDERWATER MOSQUE

DUBAI UNDERWATER MOSQUE

The announcement of the landmark project took place during a press conference at the headquarters of the Department, which was attended by distinguished officials, including Dr Hamad Al Sheikh Ahmed Al Shaibani, Director General of the Islamic Affairs and Charitable Activities Department in Dubai, and other prominent figures from various departments.

UAE-Saudi trade reaches AED 586.75 billion in 5 years

UAE-Saudi trade reaches AED 586.75 billion in 5 years

The trade volume between the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia experienced a significant increase of 28 percent in 2022, reaching a total of AED 137.51 billion. This figure surpasses the previous year's trade volume of AED 107.41 billion in 2018. Consequently, the cumulative non-oil trade between the two nations over the span of five years amounts to AED 586.75 billion.

UAE publishes discussion paper on urgent threat of global water scarcity

UAE publishes discussion paper on urgent threat of global water scarcity

The UAE Government has published a detailed discussion paper that calls for a decisive and coordinated international response to the urgent threat of global water scarcity. Entitled ‘Ripple Effect Water Scarcity – The hidden threat to global security and prosperity’, the discussion paper examines global water scarcity and its main causes, highlights various implications of water scarcity already evident in parts of the world, and identifies a range of potential solutions to this rapidly worsening issue.

Reem Al Hashimy delivers UAE’s Statement at 78th Session of UN General Assembly

Reem Al Hashimy delivers UAE’s Statement at 78th Session of UN General Assembly

Reem Al Hashimy, Minister of State for International Cooperation, delivered the United Arab Emirates’ statement during the General Debate of the 78th Session of the United Nations General Assembly.

Al Hashimy addressed important topics, which were raised at a time when the international system is witnessing escalating crises. Al Hashimy said: “The UAE declared this year the Year of Sustainability, under the theme "Today for Tomorrow” to honour our shared responsibility to present and future generations, who deserve to live in safe, and prosperous environments. We also seek to honour and build upon the efforts of our founding fathers, who strived for the advancement of our nations. Our responsibility is to preserve our planet, our natural resources as well as our cultural heritage.”