Saudi Press

Saudi Arabia and the world
Monday, Aug 04, 2025

UAE In-Focus: BOC lists $300m bonds on Nasdaq Dubai; Khalifa Ports expands 

UAE In-Focus: BOC lists $300m bonds on Nasdaq Dubai; Khalifa Ports expands 

In a first-of-its-kind listing in Dubai, the Bank of China’s Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent as BOC’s previous such listing was issued by its Abu Dhabi branch in 2015.  
Highlighting Nasdaq Dubai’s significant role in strengthening links between capital markets in Dubai and China, Li Xuhang, consul-general of the People’s Republic of China, rang the market opening bell to celebrate the listing of $300 million bonds on Nasdaq Dubai.  

“A” rated by Fitch Ratings, the bonds are part of the bank’s $40 billion bond issuance program as it wants to use the proceeds for general corporate purposes.  

The new listing increased the value of Chinese institutions’ bonds currently listed on Nasdaq Dubai to $ 7.5 billion through 13 issuances. 

The new issuance was listed on Nasdaq Dubai on Dec. 6, 2022, raising the total value of debt instruments listed on the region’s international financial exchange to $111.6 billion, underpinning Dubai’s leading position as a global capital markets hub. 

Abu Dhabi's Khalifa Port expansion 

Abu Dhabi's Khalifa Port expansion, which was inaugurated by UAE President Sheikh Mohamed bin Zayed Al-Nahyan, is expected to increase handling capacity, with a total investment of 4 billion dirhams ($1 billion).  

With the implementation of the project which includes the expansion of Khalifa Port’s South Quay, Khalifa Port Logistics, and Abu Dhabi Terminals, the port complex has grown from 2.43 sq. km to 8.63 sq. km. This has also resulted in its quay being extended from 2.3 km to 12.5 km.  

Khalifa Port now provides 21 berths, “positioning it among the global elite of deep-water ports, with an estimated value of 20.4 billion dirhams,” AD Ports Group, which owns Khalifa Port, said in a statement.

The expansion project is set to make a major contribution to AD Port Group’s goal of increasing the handling capacity at Khalifa Port to 15 million 20-foot equivalent units per year by 2030, and the general cargo handling capacity to 25 million tons.  

ADNOC Drilling accelerates business growth   

As part of its fleet expansion and growth strategy, ADNOC Drilling signed an agreement to acquire an additional two premium high-specification offshore jack-up drilling units at a combined cost of $200 million.  

ADNOC said the acquisition is a key enabler of its accelerated oil production capacity target of 5 million barrels per day by 2027.  

The company has almost doubled its offshore jack-up rig fleet to 32 since early 2021, with further significant expansion expected in 2023 and beyond.  

This rig purchase adds to earlier deals for a total of nine rigs signed in 2022 and four rigs acquired in 2021.  

With the addition of the latest two high-specification rigs, the company will operate one of the largest offshore jack-up fleets in the world, with plans for further growth.  

FTA launches strategy to explore future of tax sector  

In line with international best practices, the UAE Federal Tax Authority has launched its strategy to explore the future of the tax sector and strive for world-leading tax procedures. 

The strategy is built on a thorough assessment and follows comprehensive plans developed to map out the future of the UAE tax system, according to a press release.  

The FTA stated that launching the strategy formed part of its activities to mark World Future Day 2022.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
×