Latest news with #275
Gulf Today
an hour ago
- Business
- Gulf Today
United Arab Bank launches strategic Rights Issue to raise up to Dhs 1.03 billion
United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to Dhs1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from Dhs2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to Dhs3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of Dhs1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6th March 2025, following the approval of the Board of Directors of the Bank held on 4th February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4th July 2025 and ending on 17th July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24th July 2025. Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank, said, "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. WAM
Daily Tribune
3 days ago
- Daily Tribune
A Fur-Real experience
This dog landed at Bahrain International Airport with an Arab family, arriving from a destination just three hours away. The pet had all travel documents in place — permits, health checks, and approvals — and passed through airport checks without issue. But the moment the plane touched down; things took an unexpected turn. The airline decided not to release the dog. No reason was given. No one informed the family. Instead, the dog was quietly put on the next outbound flight. These details came to light when the Minor Commercial Court ordered the state-owned airline to pay BD1,275 in damages. According to court files, the airline had accepted the pet for travel, but refused to hand it over on arrival. With no explanation, the crew member blocked the release and the animal was flown back the next day. The devastated family, unable to act, had to arrange care for the dog overseas. It took nearly a month to get a new permit and bring the animal back to Bahrain. The whole ordeal cost them over Euro2,500. The case was brought before the court by the dog's owner, represented by lawyer Rabab Mahdi. She told the court the family had planned the trip well in advance — including the pet's journey — and had followed all required procedures. The airline, she said, failed to provide any justification for its decision. The children were left distressed and the family was forced to hire a pet care company abroad until the dog could be returned. Later, the airline admitted fault in an email. It offered to refund the pet's ticket and provide a discount on future flights. But that didn't come close to covering the losses — prompting legal action. A witness told the court she had contacted the airline's call centre before travel and was advised to complete the booking at the airport. Bahrain Airport confirmed there was no issue with the pet's entry. The court said the airline had accepted the dog for transport to Bahrain, then refused to release it without explanation. It did not dispute the facts or prove any fault on the claimant's part. The airline also failed to show it had taken any steps to prevent the harm or that doing so was impossible. The owner submitted payment records showing Euro2,600 spent on care, transport, and new bookings. The court ordered the airline to pay BD1,275.980 in compensation.
Time of India
16-05-2025
- Business
- Time of India
GMR raises Rs2,600cr loan from Tata Capital for Nagpur airport expansion and takeover
1 2 3 Nagpur: GMR Nagpur International Airport Limited is raising a Rs2,600 crore loan from Tata Capital to partially fund its plans for the brownfield expansion of Dr Babasaheb Ambedkar International Airport here. The company is poised to take over Nagpur airport for operations under a concession agreement from the current operator, Mihan India Limited (MIL). A final approval for Airports Authority of India (AAI) to transfer airport land to the company is awaited. The total project cost is estimated at Rs3,275 crore, according to a note accessed by TOI. A part of this will come from the loan provided by Tata Capital, said sources involved in the development. The funds will be deployed in upgrading, developing, and operating the airport. This capital expenditure will cover areas like civil, mechanical, and electrical works, terminal building, cargo facilities, and runway, apart from other assets necessary for the expansion of the airport under the concession agreement, according to the note. A wholly owned subsidiary of GMR Airport Limited, the company, GMR Nagpur, was formed close to six years ago to handle operations for the city airport. According to the GMR Group's website, the company plans to increase the airport's capacity to handle 30 million passengers a year. The first phase will involve building a new terminal that would cater to 3 million passengers a year, apart from a facility to handle 20,000 metric tonnes of cargo. A new air traffic control tower and comprehensive airside infrastructure are also planned. Now, as GMR Group is ready with the finance for the airport project, the formal takeover of the airport is pending. GMR was expected to step in by the first week of May. However, the process has been delayed. It is learnt that approval from the Union cabinet is needed for the transfer of the airport land to GMR from AAI. The land on which the airport stands comes under AAI. The peripheral areas towards Shivangaon and other villages belong to Maharashtra Airport Development Company (MADC). MIL is a joint venture between MADC and AAI. The company was formed in 2009. Now, GMR will come in as the developer under a concession agreement. GMR has completed the procedure from its side to take over the airport, said sources. Legal assistance for the loan deal was provided by M/s Cyril Amarchand Mangaldas (CAM).
Yahoo
01-04-2025
- Automotive
- Yahoo
This Stunning 1965 Ferrari Designed by Pininfarina Could Be Yours for $1.8 Million
Sometimes your dream car isn't as far out of reach as you may think. A beautiful 1965 Ferrari 275 GTS is currently being sold by RM Sotheby's. Making the car, which is currently located in France, even more desirable is that it still features its original chassis and engine. More from Robb Report A Former NFL Star's $7 Million Fort Lauderdale Mansion Has Its Own Football Field This Bonkers Commercial Aircraft Will Run On Hydrogen Fuel Cell Stacks and Electric Motors Designer Windsor Smith Left Her Signature Mark on This $19.5 Million Estate in L.A. The legendary Ferrari 250 Series was always going to be a tough act to follow, but the 275 was up for the task—even if it never quite reached the heights of its predecessor. Introduced in 1964, the two-door is what most enthusiasts think of when they think of a grand tourer, pairing a graceful long-nosed design with one of the automaker's famous V-12 engines. The car was a hit with the era's most glamorous celebrities, like movie it couple Jane Fonda and Roger Vadim, and it's not hard to see why. Just shy of 1,000 examples of the model left Maranello during the four years it was in production, of which just 200 were the open-top GTS (grand touring spider) variant. The 275 GTS that is up for sale, chassis 069819, was the 10th built and still wears its original colors, according to RM Sotheby's. The roadster was designed and built by Pininfarina. It is finished in Nero black and has a Nuvola gray interior with wood trim on the steering wheel and dashboard. It's a car that looks as stunning today as it did when it left the factory 60 years ago. The color combo isn't the only thing original about this vehicle. It also has its numbers-matching 3.3-liter Colombo V-12. When brand-new, the mill was capable of producing 260 hp, which was enough to push the car from zero to 60 mph in around seven seconds and to a top speed of 150 mph. The vehicle's five-speed manual gearbox isn't original, but it is period-correct. The example up for sale has totaled less than 34,000 miles and kept in tip-top shape over the years. It was even on hand for the marque's 50th anniversary in Rome and Maranello in 1997. Intrigued? You won't have to compete with other bidders if you're quick. RM Sotheby's is selling the car for €1.75 million, or around $1.89 million, which is in line with what other examples of the car have sold for in recent of Robb Report The 2024 Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The World's Best Superyacht Shipyards The ABCs of Chartering a Yacht Click here to read the full article.
