Dubai Islamic Bank launches $500m sukuk with competitive 5.25% profit rate
Dubai Islamic Bank successfully issued a $500m Basel III-compliant AT1 sukuk at a 5.25% profit rate, marking the lowest global AT1 spread since 2009.
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Saudi Arabia acquires 40% of Selfridges Group to drive European luxury retail interests
Saudi Arabia's Public Investment Fund (PIF) has acquired a 40% stake in Selfridges Group, partnering with Central Group, which holds the remaining 60%, to strengthen the luxury retailer's financial position and drive future growth.
Saudi Arabia poised to sell $10bn in Saudi Aramco shares to boost Public Investment Fund
Saudi Arabia is poised to sell at least $10 billion in Saudi Aramco shares to boost its Public Investment Fund (PIF) as part of its Vision 2030 economic diversification strategy. This sale follows the record-setting 2019 IPO and aims to further enhance the PIF’s assets amid ongoing mega-projects.
Who was Ratan Tata? A visionary who elevated the Tata Group to global prominence
Ratan Tata, the former Chairman Emeritus of Tata Group, transformed the conglomerate into a global powerhouse through strategic acquisitions and visionary leadership.
Bangladesh to remove Sheikh Mujib’s likeness from Taka banknotes
Bangladesh's interim government has announced a major redesign of their Bangladeshi Taka (BDT) currency notes, starting with Tk20, Tk100, Tk500, and Tk1,000, removing the image of 'Bangabandhu' Sheikh Mujibur Rahman.
Hezbollah leader Hassan Nasrallah killed in Lebanon airstrikes, claims Israeli army
The Israeli Defense Forces (IDF) announced that they killed Hezbollah's long-time leader, Hassan Nasrallah, in an airstrike targeting southern Beirut on Friday evening. Hezbollah has yet to confirm the death of its leader.
An independent Palestinian state must be established with Jerusalem as its capital, says Shehbaz Sharif
Prime Minister Shehbaz Sharif's address to the UN General Assembly: "The atrocities and massacre by Israel in Gaza must be stopped, and a Palestinian state should be established with Jerusalem as its capital. The Kashmir issue should be resolved in accordance with UN resolutions. Pakistan will give a decisive response to any Indian aggression."
Pakistan Secures Final Approval for $7 Billion IMF Loan Program
Pakistan has received final approval to initiate a $7 billion loan program from the International Monetary Fund (IMF), unlocking vital financial support to stabilize the country's recovery from a severe economic crisis.
Losses from Terrorism and the Climate Change Challenge: Shehbaz Sharif Calls for Global Justice
Prime Minister Shehbaz Sharif, in a UN debate, highlighted the challenges of terrorism, climate change, and education. He emphasized Pakistan’s sacrifices, with 88,000 lives lost and billions in damages, urging global justice. He also highlighted Punjab’s educational reforms, including the Endowment Fund and Daanish Schools.
Nusrat Fateh Ali Khan’s Chain of Light finally sees the light 30 years later
In 1990, Nusrat Fateh Ali Khan recorded four traditional qawwalis with producer Michael Brook, now released as Chain of Light, a remastered album rediscovered 27 years after his death, showcasing his vocal mastery at the peak of his powers while offering a rare glimpse into his traditional Sufi roots before his fusion with Western music.
