BusinessLatest Business and Company Updates
VFS Global Secures 7-Year Dollar Loan at Tightened Spread
VFS Global has priced a seven-year USD tranche of $1,010 million at 250 basis points over SOFR, marking a 50bps tightening from its previous guidance. The loan forms part of a dual-currency raise, with an equivalent euro tranche also in play as part of a broader funding package totalling approximately $2
AD Ports Group Orders Two 780-TEU Vessels from Baku Yard
Abu Dhabi-based AD Ports Group has struck a deal with Azerbaijan Transport and Communication Holding to build two shallow-draft container ships of 780 TEUs each at Baku Shipyard. The vessels, intended for operation across the Caspian Sea, are scheduled
Sheikh Mohamed, Musk discuss AI cooperation
President His Highness Sheikh Mohamed bin Zayed Al Nahyan held talks with American entrepreneur Elon Musk, focusing on advances in artificial intelligence and emerging technologies and how cross-border collaboration can accelerate innovation with practical benefits for societies and economies. The meeting
UAE builders retain financial cushion
UAE property developers are expected to keep construction programmes moving and meet debt obligations over the next 12 months, as strong cash reserves and positive operating cash flow provide a buffer against softer sales, wider payment plans and geopolitical uncertainty.
