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DEBT WATCH-<\/p>\n
Our<\/strong> frie<\/strong>nds at <\/strong>Mashreq <\/strong>listed their USD 500 mn sukuk on Nasdaq Dubai on Wednesday<\/strong>, according to a statement<\/a>. The sukuk was issued under Mashreq\u2019s USD 2.5 bn trust certificate program, carrying A rating from S&P, in line with the bank\u2019s A3\/A\/A investment-grade profile from Moody\u2019s, S&P, and Fitch. The issuance \u2014 the bank\u2019s first since 2024 \u2014 also marks the first public CEEMEA issuance to price since the US announced new trade tariffs in April. The five-year sukuk issuance drew USD 2.9 bn in orders<\/a>, making it 6x oversubscribed and the most heavily subscribed issuance in the bank\u2019s history. <\/p>\n \n MINING-<\/p>\n EGA eyes Ghana bauxite play: <\/strong>Emirates Global Aluminium (EGA) signed an agreement with the Ghana Integrated Aluminium Development Corporation to explore the joint development of bauxite-related projects in Ghana, according to a statement<\/a>. The agreement includes potential offtake agreements and cooperation on rail and port infrastructure to expand production. It comes as EGA aims to increase its bauxite production and diversifying upstream supply, with CEO Abdulnasser Bin Kalban calling Ghana\u2019s 900+ mn tonnes of reserves a strategic window.<\/p>\n SOUND SMART- <\/strong>Bauxite is a rock that contains a relatively high concentration of aluminium, making it the world\u2019s primary source of the metal, as well as a major source of gallium.<\/p>\n ICYMI- <\/strong>Other recent Emirati-Ghana developments include a tech-focused MoU<\/a> signed between Dubai\u2019s PCFC, G42-backed Presight AI, and the Ghanaian government, whilst other firms have pledged investments in Ghana\u2019s renewable energy, AI, education, health, aviation, and defense sectors, Ghanaian Foreign Minister Samuel Okudzeto Ablakwa said<\/a> in May.<\/p>\n \n LOGISTICS-<\/p>\n Kezad<\/strong> could get a new e-Methanol bunkering facility:<\/strong> AD Ports Group inked an agreement with Masdar, Rotterdam-based energy storage Advario, and French shipping giant CMA CGM to explore setting up an e-methanol bunkering and export facility in Abu Dhabi\u2019s Khalifa Port and Khalifa Economic Zones Abu Dhabi (Kezad), according to a statement<\/a>. The facility will support commercial e-methanol production for off-takers, including CMA CGM, to accelerate the move to decarbonisation in the global shipping industry.<\/p>\n REMEMBER-<\/strong> AD Ports Group signed a heads of terms agreement with Advario to mull a joint venture to develop and operate green energy and liquid bulk storage projects in the UAE and internationally, last month<\/a>. The proposed JV would be 51% owned by AD Ports and 49% by Advario.<\/p>\n \n BUSINESS-<\/p>\n Dubai overhauls MAF governance to resolve succession gridlock: <\/strong>The Dubai government has stepped in to restructure the governance of Majid Al Futtaim (MAF), one of the Gulf\u2019s largest private conglomerates, to resolve a long-running succession impasse and stabilize the group\u2019s future, Financial Times<\/a> reports, citing people with knowledge of the details. A special judicial committee has reconstituted the board of parent entity MAF Capital and converted it into a public joint stock company with a lower decision-making threshold. <\/p>\n The rationale: <\/strong>The move follows years of shareholder tensions that, according to sources, began to weigh on the group\u2019s performance. It marks Dubai\u2019s third major intervention in MAF\u2019s affairs \u2014 the first was in the 1990s, when then-Crown Prince Sheikh Mohammed mediated a family split, followed by another in 2022, after the founder\u2019s death. <\/p>\n The new structure: <\/strong>The new board of MAF Capital is chaired by Emirati financial regulator Fadel Al Ali, with five government and four family representatives. MAF Holding, the group\u2019s operating company, remains independently governed under a board led by Sir Michael Rake, former chair of KPMG International. \u201cThese changes do not affect the operations or governance of [operating company] MAF Holding,\u201d MAF said in a statement to the salmon-colored paper. <\/p>\n IPO ahead? <\/strong>\u201cThe company now has a period of stability that could pave the way for a listing,\u201d one source told the FT.<\/p>\n \n HEALTHCARE-<\/p>\n Burjeel Holdings<\/a><\/strong> will manage and operate Adnoc\u2019s Das Hospital at Das Island<\/strong>, after the two sides signed an agreement, according to a disclosure (pdf)<\/a> to the ADX. The contract will see Burjeel oversee the clinical and administrative operations of the health care facility which includes outpatient clinics and a blood bank in its medical offerings.<\/p>\n ICYMI-<\/strong> Back in February<\/a>, Burjeel Holdings secured AED 225 mn in operations and management healthcare contracts for UAE, Sudan and Chad healthcare facilities, with a contract to operate Adnoc Das Hospital on Das Island being among them.<\/p>\n \n REAL ESTATE-<\/p>\n Pakistan\u2019s BT Properties to build Eiffel Tower in Dubai:<\/strong> Pakistan\u2019s largest private developer, BT Properties, has entered the UAE market with a USD multi-mn project in Dubai South, anchored by a resized Eiffel Tower and a life-size Istanbul mosque, Khaleej Times<\/a> reports. The master-planned community, Waada, will feature residential units along with retail, wellness, education, and community spaces, according to a statement<\/a>. Completion is slated for 4Q 2028.<\/p>\n \n INS.-<\/p>\n Ins. provider Transamerica Life Bermuda comes to <\/strong>DIFC<\/strong>:<\/strong> Global high-net-worth life insurer Transamerica Life Bermuda<\/a> will operate in Dubai International Financial Centre (DIFC) after securing a license from the Dubai Financial Services Authority (DFSA), according to a statement<\/a>. The new office \u2014 which will act as a regional hub \u2014 will be headed up by Adnan Ladki (LinkedIn<\/a>).<\/p>\n \n AVIATION-<\/p>\n Emirates adds Vietnam and Cambodia routes via Bangkok: <\/strong>Emirates Airlines expanded its East Asia network to 23 destinations with new flights to Vietnam\u2019s Da Nang and Siem Reap in Cambodia, Emarat Al Youm<\/a> reports. Both routes pass through Bangkok and are operated by Boeing 777s. <\/p>\n Etihad<\/strong> s<\/strong>ets its sights on China:<\/strong> Etihad Airways inked a codeshare agreement with Taipei-based Starlux Airlines,<\/strong> boosting its customer reach across Northeast Asia, according to a statement<\/a>. Abu Dhabi\u2019s flagship airline will begin operating direct flights between Abu Dhabi and Taipei from 7 September. Under the partnership, Abu Dhabi has new links to Japanese cities \u2014 including Nagoya, Sapporo, and Fukuoka \u2014 via Taipei.<\/p>\n Etihad Cargo also signed an agreement with China\u2019s Ezhou Huahu Airport to boost its cargo links in Asia<\/strong>, according to a separate statement<\/a>. Etihad\u2019s logistics arm will increase its presence at the airport \u2014 a gateway to access the broader Chinese market, including Shanghai and Shenzhen. Under the partnership, the pair will look to increase flight frequencies, launch new routes and expand collaboration for cross-border supply chain transactions.<\/p>\n \n Air Arabia introduces new route to Kazakhstan:<\/strong> Budget friendly carrier Air Arabia is launching a new route connecting Abu Dhabi to Almaty in Kazakhstan, Wam<\/a> reports. Flights will begin from 3 June and run three times a week.<\/p>\n \n ENVIRONMENT-<\/p>\n Abu Dhabi launches integrated waste management monitoring system:<\/strong> The Abu Dhabi Environment Agency (EAD) has launched a unified system to manage and monitor waste activities across the emirate, according to an Abu Dhabi Media Office statement<\/a>. The platform integrates three tools: an inspection and patrolling system, an occupational health and safety system for waste sector workers, and an electronic system to track and monitor waste transfers.<\/p>\n REMEMBER-<\/strong>EAD has mandated<\/a> environmental reporting for licensed entities, covering resource use and emissions, with submissions starting each 1Q. A carbon pricing mechanism<\/a> is also in the works, requiring major emitters to begin submitting third-party verified emissions data from 2026.<\/p>\n","protected":false},"excerpt":{"rendered":" Plus: EGA inks agreement to enter Ghana\u2019s aluminium market<\/p>\n","protected":false},"author":1,"featured_media":104388,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[57,1226,47,364,306,847,296,794,222,871,143,7,1668,131,132,614,98,135,211],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adnoc","tag-air-arabia","tag-also-on-our-radar","tag-amea-power","tag-aviation","tag-burjeel-holdings","tag-dewa","tag-dubai-international-financial-center","tag-emirates-airlines","tag-emirates-global-aluminium","tag-energy","tag-enterpriseam-uae","tag-environment","tag-healthcare","tag-insurance","tag-mining","tag-real-estate","tag-regulation","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"f312f259-58e6-47cd-bee7-6e211421f951","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/381.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mashreq lists USD 500 mn sukuk on Nasdaq Dubai","related_issue":[104365],"teaser":"Plus: EGA inks agreement to enter Ghana\u2019s aluminium market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.1a394ac4-cd1b-41fd-80ca-6ca6f630d954.mp3"},"yoast_head":"\n
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