DAE raises $1B in dual-tranche notes

Dubai Aerospace Enterprise (DAE), one of the world’s largest aircraft leasing firms, said on Friday it had raised $1 billion in bonds, $250 million less than the amount it had originally said it planned to raise. The government-controlled Dubai firm has issued $500 million in senior notes due in 2021 and $500 million due in 2023, it said in a statement.

DNO Q3 net profit rises $63 million

Norwegian oil and gas operator, DNO, has announced a rise in third quarter 2018 net profit to $63 million from an operating revenue of $171 million, on the back of solid production, regular export payments, and higher oil prices. Operated production averaged 117,600 barrels of oil equivalent per day (boepd) during the quarter including 81,500 boepd on a company working interest basis.

ACWA Power, Egypt ink $2.3B contract

Egypt signed a deal with Saudi Arabian utility developer ACWA Power on Thursday to build a $2.3 billion power plant in the country’s south, the Egyptian electricity minister said. The plant, which will have a capacity of 2,250 megawatts (MW), will be built in Luxor province, the minister, Mohamed Shaker, told a news conference.

He said the facility is expected to be operational by 2023 at the latest.

Dubai-Korea trade exchange up in H1

Dubai trade with S. Korea grew eight percent from Dh25.3 billion in 2016 to Dh27.4 billion in 2017, standing at Dh8.7 billion during the first six months of 2018. The figures have been revealed during a meeting between Ahmed Mahboob Musabih, director of Dubai Customs, and a South Korean delegation led by the ConsulGeneral in Dubai, Chun Young Wook, in the presence of representatives of a number of S. Korean businesses operating in the country. The meeting occasioned a review of the incentives to stimulate the business sector and domestic economy in general.