UAE banks loan Singapore’s Olam Agri $745m to refinance existing loans

Singapore-based Olam Agri, the food, feed and fiber operating group of Olam Group, has secured a $745 million financing facility from the UAE banks to refinance existing loans for general corporate purposes, Zawya reports. Abu Dhabi Commercial Bank, First Abu Read more

Veteran CEO of Doha Bank resigns after 15 years of service

Raghavan Seetharaman, the veteran CEO of Doha Bank has resigned after 15 years of service at one of the biggest commercial banks in Qatar, Zawya reports. It is unclear why the Indian man has resigned as the bank did not Read more

Saudi dairy giant Almarai takes full control of Modern Food Industries

Saudi dairy giant Almarai Co. Has, through its subsidiary Western Bakeries Co., acquired 25 percent of Modern Food Industries, becoming the full owner of the Indian company. Almarai will inject an additional $67 million into the company. Through this acquisition, Read more

UAE ranks second on Global Finance magazine’s index world’s es

UAE is the world’s second safest country in 2021 Global Finance Magazine has reported. The index which takes into account three fundamental factors – war and peace, personal security, and natural disaster risk, hails the Gulf country’s efforts to curb Read more

Saudi KBW Ventures injects investment into US-based cellular seafood firm BlueNalu

Saudi venture capital firm, KBW Ventures, has participated in the financing of $60 million debt of US cellular seafood firm BlueNalu, the company said Wednesday. The investment came during the Series A funding round of BlueNalu. KBW Ventures is owned Read more

Etihad Airways to operate limited flights for UAE residents to return home

Abu Dhabi-based Etihad Airways will operate from May 9 from selected cities from around the world to limited flights to enable UAE residents to return home, the airline has said. The all one-day flights have been approved by the government. Read more