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S&P puts numbers on the UAE’s worst year in recent memory
Abu Dhabi will likely see its economy shrink 9%, while Dubai could see 2.5% contraction, and Sharjah and RAK are…
THIS MORNING: FAB sees USD 1.4 bn in orders for latest Tier 2 issuance + port closures and pricing pressures are delaying Dubai Creek Tower
Plus: Dubai placed first for the fifth year in a row for FDI projects
THIS MORNING: DP World eyes a return to the US + Dubai Islamic Bank taps debt markets again
Plus: Int’l neobank Revolut has cleared the last formal hurdle before a UAE customer launch
Hormuz may be reopening — but the actual recovery of flows will take much longer
Around 500 ships are waiting to exit the Gulf through the Strait of Hormuz
THIS MORNING: Adnoc is making up for lost barrels + IRH inks USD 500 mn supply agreement with India
Plus: Sharjah is the latest emirate to be rolling out economic support measures
UAE oil exports reached 2.6 mn bbl / d in May
Adnoc is selling mns of barrels, rerouting cargoes, and tapping alternative loading points to keep UAE crude exports moving
THIS MORNING: Adnoc resumes naphtha exports via Oman + eyes a multi-fuel pipeline bypassing Hormuz
Plus: ADCB integrates banking infrastructure with binance
Adia backs insurtech Sapiens, Positron AI comes to DIFC, DP World invests more in Dominican Republic freezone, Adnoc secures gas supply from Azerbaijan
Adia took a minority stake in Sapiens, which remains owned by Advent
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