Business & Investments

Mashreq – Successful Pricing of US$500mn Additional Tier 1 Bond Offering

Mashreq – Successful Pricing of US$500mn Additional Tier 1 Bond Offering

– First bank capital transaction from the UAE FIG complex in 2024. Transaction marked Mashreq’s successful return to the debt capital markets since their last issuance in 2022

– Record price tightening from IPTs of 65-75bps on the back of a robust orderbook that peaked at US$2.3bn (4.4x oversubscription)

– Transaction achieved the largest price tightening by any UAE bank in the last 5 years for an Additional Tier 1 transaction

– Offering achieved the lowest coupon by any UAE bank in the last 3 years for an Additional Tier 1 transaction

– Mashreq’s tightest ever reset margin (+270.5bps) for any of its bank capital issuances (AT1 and Tier 2), which also marks the tightest spread ever achieved on a conventional US$ AT1 benchmark issuance out of the Middle East

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Business & Investments

Sustainability, Social Responsibility, and Space Reinvention Spotlighted on Opening Day of INDEX

Sustainability, Social Responsibility, and Space Reinvention Spotlighted on Opening Day of INDEX

  • HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Airports, officially inaugurates INDEX, Workspace, and KIDSPACE 2024

  • The social reinvention of unused workspaces is the next trend to look out for, say experts on opening day of Workspace Summit, which runs June 4-6 at Dubai World Trade Centre
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Hotels & Hosppitality

MONSTERS, SNOW, AND SOCIAL MEDIA: OPENING DAY OF HOTEL SHOW SHINES LIGHT ON HOSPITALITY CHALLENGES

  • Three-day event at Dubai World Trade Centre opens with discussions around industrial reluctance to adopt tech, fears surrounding aggregators, and importance of data collection
  • Co-located Leisure Show introduces concept of ‘banya’ and its health benefits, while highlighting need for multi-sensory experiences and quickening of approval processes

Dubai, UAE – 4 June, 2024: The Hotel Show 2024, the undisputed flagship event for the Middle East’s hospitality sector, opened its doors on Tuesday at Dubai World Trade Centre. Innovators, industry decision-makers, and international experts gathered to discuss the various technological challenges, potential solutions, and possible future-proofing of the hospitality, leisure, and F&B sectors.

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Automibiles & Motoring

OMODA & JAECOO Commits to Green Mobility in the Middle East

OMODA & JAECOO Commits to Green Mobility in the Middle East with Innovative ESG Initiatives for a Sustainable Future 

  • OMODA & JAECOO showcased its commitment to ESG and sustainable development at its latest business conference.
  • Over 2,000 industry pioneers, partners, and user representatives from 80 countries witnessed the brand’s ecological advancements beyond cars.
  • OMODA & JAECOO organized the Shenshan Music Festival, which was attended by domestic and international guests, as well as music enthusiasts, in Wuhu.
  • The automotive brand complements the focus of the Middle East region and the world to embrace ESG practices in the automotive sector.
  • OMODA & JAECOO highlighted technological innovations and platforms such as ‘O-UNIVERSE’ and ‘GREEN OJ’ to build a comprehensive and sustainable ecosystem.

Dubai, United Arab Emirates, May 30, 2024: With the Middle East region focusing on achieving Net Zero emissions and promoting sustainable mobility, OMODA & JAECOO, the innovative automotive brand dedicated to pioneering the future of travel, is supporting the vision through innovative Environment, Social and Governance (ESG) initiatives that will help secure an outstanding, comprehensive, and sustainable mobility ecosystem.

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Featured

Nexthink Appoints Ahmed Seleem As Area Vice President To Spearhead Middle East, Turkey And Africa Operations

Nexthink Appoints Ahmed Seleem As Area Vice President To Spearhead Middle East, Turkey And Africa Operations

UAE – June 4, 2024: Nexthink, a leading provider of digital employee experience (DEX) management solutions, announced the promotion of Ahmed Seleem to Area VP for the Middle East, Turkey, and Africa (META) regions. His new role comes as Nexthink continues to experience rapid customer and business growth in the region.

In his elevated role, Seleem will spearhead strategic initiatives aimed at expanding Nexthink’s market reach, accelerating revenue growth, and delivering enhanced value to existing and new customers across pivotal markets.

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