DUBAI: Nasdaq Dubai announced on Monday the listing of two Sukuk issuances by the Government of Indonesia valued at 11.9 billion dirhams ($3.25 billion), according to Emirates News Agency WAM.
Two tranches consist of 6.4 billion dirhams in five-year Trust Certificates with a 4.40 percent yield and 5.5 billion dirhams in 10-year Trust Certificates with a 4.70 percent yield.
Indonesia’s government has been one of the largest issuers of Sukuk on Nasdaq Dubai, and the new listings increased the total amount of Sukuk listed on Nasdaq Dubai to 80.8 billion dirhams, the statement added.
Dubai has emerged as one of the largest Sukuk listing centers in the world, with a total listed value of 297 billion dirhams, the statement concluded.
Airlink and Emirates activate codeshare partnership
Emirates and Airlink have officially activated a codeshare agreement, which will provide customers with a single booking reference across eight domestic South African cities. This will be provided via the airline’s gateways in Johannesburg, Cape Town, and Durban.
Emirates customers can now book additional destinations from Johannesburg, Cape Town and Durban, including eight places from Johannesburg, five other from Cape Town and one point from Durban, according to a press release issued by Dubai Media Office.
Travelers can book their itineraries on Emirates' website, with travel agents as well as online travel agents, it added.
Dubai’s first free-zone market to open soon
A free market that will see customs fees waived on goods is set to open in Dubai.
Yiwu, located in Jebel Ali Free Zone, will be the Middle East's first smart free-zone market serving retail and wholesale industries.
The market has been established in partnership with China Commodity City Group and DP World with an investment of 600 million dirhams ($163 million).
As part of the project, goods can be moved directly from the airfield or quayside into storage areas without incurring additional customs fees, according to a press release.
Yiwu Market offers 100 percent foreign ownership, 100 percent foreign repatriation of capital and profits, and no re-export tariffs, it added.
Chief Operating Officer of Parks and Zones at DP World UAE Ahmad Al Haddad said: “Jafza has helped traders maximize opportunities by giving them access to 60 percent of the world’s GDP (gross domestic product) through air, sea, and road transport.”
The services offered are secure payment portals for electronic transactions, inventory management, custom declarations, and hassle-free cargo gate clearance.
