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

UAE opposes appointment of former Algerian top diplomat as UN envoy to Libya

The United Arab Emirates, UAE, on Monday expressed its opposition to UN Secretary-General Antonio Guterres’s decision to appoint former Algerian Foreign Minister Sabri Boukadoum as UN envoy to Libya, Libya Observer reports, citing diplomatic sources. The Gulf country, the sources Read more

UAE’s Alpha Dhabi to invest in Libya’s green energy sector via subsidiary W Solar Investment

W Solar Investment, a subsidiary of UAE’s Alpha Dhabi, signed Monday a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a long-term partnership in Libya’s renewable energy sector, Zawya reports. Under the agreement, the investment Read more

Egypt lauds Saudi Arabia, UAE for unconditional support in face economic hardship

Egyptian President Abdelfattah al-Sisi Monday praised Saudi Arabia and the UAE for supporting the Arab African country economically as it faces an acute economic hardship compounded by the Russia-Ukraine crisis, Middle East Monitor (MEMO) reports. “Saudi Arabia and the UAE Read more