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ADQ closes $5bn term loan with Asian banks

ADQ closes $5bn term loan with Asian banks

Abu Dhabi sovereign wealth fund ADQ has closed a $5 billion syndicated term loan with more than 30 financial institutions across Greater China, a deal it described

EA shareholders sign off PIF buyout deal

EA shareholders sign off PIF buyout deal

Shareholders in game developer Electronic Arts have officially agreed to sell the majority of the company to Saudi Arabia’s Public Investment Fund. Four in five

Tesla’s driver-assistance system could be in UAE by January

Tesla’s driver-assistance system could be in UAE by January

Tesla’s most advanced driver-assistance system could be switched on in the UAE as early as January according to its CEO Elon Musk. The UAE would become the first

Neom’s Trojena Dam camps sign $54m facilities contract

Neom’s Trojena Dam camps sign $54m facilities contract

Saudi modular building and services company Red Sea International said it has signed a SAR203 million ($54 million) contract with Italy’s Webuild at Trojena, the

BinDawood acquires 51% stake in Wonder Bakery

BinDawood acquires 51% stake in Wonder Bakery

Saudi Arabian grocery retailer BinDawood Holding (BDH) has acquired a 51 percent stake in Wonder Bakery, a UAE-based food company, for AED97 million ($23 million

IHC buys 70% of payment tech company Peko Holdings

IHC buys 70% of payment tech company Peko Holdings

Abu Dhabi’s International Holding Company (IHC) has acquired a 70 percent stake in Peko Holdings, a Dubai-based payment technology company, in a move that could

Masdar consortium to develop floating solar project in Malaysia

Masdar consortium to develop floating solar project in Malaysia

Abu Dhabi Future Energy Company, better known as Masdar, will lead a consortium to develop a 200-megawatt floating photovoltaic solar project on a dam in Malaysia

Turkey raises minimum wage by a quarter

Turkey raises minimum wage by a quarter

Turkey has hiked its net monthly minimum wage to 28,075 lira ($655) for next year, Reuters reported, quoting the country’s labour minister Vedat Isikhan. The new

Iraq says gas supplies from Iran have been halted

Iraq says gas supplies from Iran have been halted

Iraq’s supply of gas from Iran has been halted, the Iraqi electricity ministry said on Tuesday, adding that the stoppage was due to the shutdown of some generating

Lebanon central bank head concerned over draft law on deposits

Lebanon central bank head concerned over draft law on deposits

Lebanon’s central bank governor has expressed some reservations over a draft law allowing depositors gradually to recover funds frozen in the banking system since