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FAB priced its USD 500 mn five-year bond 25bp tighter than IPT — most of the way back to pre-war levels
Demand pulled pricing back closer to January's levels than to the war's peak
THIS MORNING: USD bns worth of agreements incoming from UAE-Germany + DP World locks in Mombasa land grab
Plus: Gross bank assets rose 1.3% m-o-m in July
FAB, Mashreq and DP World are returning to debt markets as spreads stay wider than pre-war levels
FAB’s own price talk lands almost exactly on the wider UAE corporate spread Fitch flagged three weeks ago
Dubai Islamic Bank opens new funding channel with first-ever syndicated Islamic facility
It’s the lender’s second debt market outing this year — and its first time in the syndicated loan market
Swiss bank EFG International taps Ranjit Khanna as Dubai CEO
Khanna joins from Bank of Singapore, where he led its private banking business for Europe and the Middle East out…
ADIB taps AI veteran Pedro Uria-Recio to scale AI deployment across the bank
Former CIMB Bank executive joins ADIB to scale AI across customer experience, risk, and operations
THIS MORNING: Fujairah workaround attracts Aramco attention + AD Ports’ tender clock starts
Plus: IRGC reportedly detains UAE-linked tanker in Hormuz
DP World makes headway on Port of Tartous, Adnoc Gas lines up contracts for RGD project, CBD allows for cross-bank payments, Sanad to double engine capacity, Tax Star secures USD 1.75 mn
DP World added three cranes to the Syrian port as part of its USD 800 mn investment program
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