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Union National Bank (UNB), 50 per cent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the United Arab Emirates to operate a branch in mainland China, the bank said on Tuesday.
The Shanghai presence will provide corporate banking services to UAE companies and trade finance to Sino-Middle East counterparties.
UNB said it was also seeking to cash in on opportunities arising out of China’s “One Belt One Road” initiative, which aims to build a new Silk Road linking Asia, Africa and Europe by investing billions of dollars in infrastructure including railways, ports and power grids. UNB opened a representative office in China in 2008, the first bank from the UAE to do so.
Union National Bank (UNB) said it has closed a 5 year bond issue for $500 million (Dh1.8 billion) with a coupon of 4 per cent and at issue price of 99.6 per cent.
UNB mandated Australia and
Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading listed property development, investment and management company, has signed an agreement with Union National Bank to provide ESCROW account service
Union National Bank said on Monday it has received regulatory approval from the Securities and Commodities Authority to act as a general clearing member.
The bank notified the Abu Dhabi Secu
Saudi Arabia may still move forward with an initial public offering (IPO) for state oil company Saudi Aramco on an international exchange such as London or New York in the second half of 2018, despit
Emirates NBD could agree to buy Turkey’s Denizbank within weeks, after intense lobbying by the Turkish bank to convince President Tayyip Erdogan of the benefits of the potential $5.3 billion deal.
Saudi Aramco could grant shares to employees in any forthcoming initial public offering, according to an analysis of the company charter it adopted at the beginning of the year.
The new cha
The shareholders of Aldar Properties have approved raising its foreign ownership limit by 9 per cent, allowing foreigners to own up to 49 per cent of Abu Dhabi’s biggest-listed developer, the company
Zain, the leading telecommunications network in Kuwait supported the Kuwait Investment Forum 2018 (KIF 2018), that was held under the patronage and in the presence of His Highness the Amir Sheikh Sab