Qatari investment bank QInvest, and Fortis Bank Nederland are reportedly in advanced stages of talks to launch a Shariah compliant mezzanine fund targeting financing opportunities in the marine transportation industry.
The proposed fund aims to raise $200m and will target mezzanine investment opportunities in deep sea vessels.
Sources reported that the five-year mezzanine fund, which will comply with Islamic law, seeks to benefit from the down cycle of the shipping industry through an extended investment period of around 18 months.
Al Habtoor Leighton Group has secured a water infrastructure project worth QR750 million (Dh756m) from Qatar General Electricity & Water Corporation to connect two Qatari communities.
Under the arrangement, Al Habtoor Leighton will construct a total of six concrete reservoirs, a pump house, and associated buildings, road works and landscaping for the Duhail Water Station project.
A majority stake had been bought by DP World, the global container terminal operator, in Brazil's main private multimodal facility in the city of Santos.
In order to purchase the controlling stake in Empresa Brasileira de Terminals Portuarios (Embraport), the Dubai-based company teamed up with Brazilian conglomerate Odebrecht. Financial details were not released.
It will be near to Porto de Santos, Brazil's largest container port, in Santos, Sao Paulo state where the Embraport will be constructed.
EgyptAir, the flag carrier airline of the Arab Republic of Egypt, has signed an agreement with US-based Rockwell Collins to install an advanced detection system in five A330 aircraft with an option for three additional aircraft.
The agreement includes Rockwell Collins' Multiscan Hazard Detection System, which analyzes and determines actual weather hazards, TTR-2100 Traffic Collision Avoidance System, as well as a full communications, navigation and surveillance suite including the GLU-925 Multi-Mode Receiver.
Dubai-based Geo-Chem Middle East, one of the world's largest independent inspection and testing companies, has picked won a contract from the Kenya Bureau of Standards (KEBS), the government agency responsible for establishing and governing metrology standards, to test petroleum imports to Kenya.
Under the contract, Geo-Chem will issue certificates on the quality and quantity of the imports, which will be used for the purpose of calculating taxes.
This month saw the commencement of Etihad Airways' luxury first class suites on its Airbus A340-600 service, which operates between Abu Dhabi and London Heathrow.
Customers who travel in the state-of-the- art private suite, get an extra-large leather seat, which can be extended to a fully-flat 80.5 inch bed, along with an extra large wood-finished table for dining.
Furthermore, each suite has a 23 inch wide-screen LCD screen, with in-flight entertainment offering over 600 hours of on-demand programmes.
As per the media reports, an approval from the concerned authorities has been won by SHUAA Capital, the GCC's leading financial services institution, which has also urged the Dubai Financial Market to issue 515 million new shares to Dubai Banking Group.
The recent development has come to scene after the agreement regarding the convertible bonds issued by SHUAA to Dubai Banking Group. Under the agreement, Dubai Banking Group will convert the AED 1,500 million convertible notes into 515 million shares, representing a 48.4 per cent stake of SHUAA Capital's share capital.
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