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Islamic Development Bank’s $1.7b bond records on Nasdaq Dubai

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This is IDB’s second sukuk posting in Dubai this year

The Islamic Development Bank has recorded its $1.7 billion bond on Nasdaq Dubai. The posting fortifies IDB’s situation as the biggest ‘supra-public’ sukuk guarantor on Nasdaq Dubai with $18.8 billion through 13 issuances recorded on the trade starting around 2016.

“The new posting of our milestone sukuk issuance reaffirms IDB’s obligation to prepare maintainable capital streams on the rear of our top-level AAA-rating and give practical financing to our part nations’ recuperation from the pandemic,” said Dr. Zamir Iqbal, Vice-President of Finance and Chief Financial Officer of Islamic Development Bank. The 5-year sukuk pulled in more than $2.4 billion worth of orders.

This issuance is the second posting by IDB on Nasdaq Dubai this year. The bank recorded its second ‘maintainability’ sukuk of $2.5 billion in April last. It braces Dubai’s situation as one of the biggest sukuk posting settings universally, with a joined worth of $80.1 billion. It has likewise expanded the all out worth of fixed pay postings on the trade to $108.8 billion.

Business

Missed your corporate tax? UAE waives penalties for late filers

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Businesses in the UAE that missed the deadline to register for corporate tax have been given a welcome break. A new decision by the Ministry of Finance (MoF) and the Federal Tax Authority (FTA) waives administrative penalties for those who missed the registration deadline, as long as they meet specific conditions.

To benefit from the waiver, companies must submit their corporate tax returns or annual statements within seven months of their first tax period, in line with the UAE Corporate Tax Law.

Even better, businesses that already paid fines, but now meet the new conditions, will be eligible for refunds, according to the FTA.

This Cabinet-approved move aims to support businesses during the first year of corporate tax implementation, giving them more flexibility to comply with the new rules without facing hefty penalties.

Who’s Eligible?

  • Companies or exempt entities that missed the registration deadline
  • Must file their tax return or annual statement within 7 months of their first tax period

Why It Matters

The waiver reflects the UAE’s intention to ease the transition into the new corporate tax regime and encourage businesses to regularise their status without fear of penalties.

(Source: Wam)

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Business

UAE’s Etihad Airways unveils new travel programme to simplify business trips

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Etihad Airways has launched a brand-new corporate travel programme designed to make business travel easier, more flexible, and tailored to companies of all sizes.

The announcement was made at Arabian Travel Market 2025, highlighting the airline’s push to offer smarter, more efficient travel solutions for the corporate sector.

Smart Travel for Businessmen

At the heart of the new programme is a digital platform that gives businesses full control over their travel needs. From easy bookings to automated reports and expense tracking, the platform helps companies manage travel faster and more efficiently.

Corporate clients will also gain access to customised benefits based on how much they travel, including:

  • Special corporate rates
  • Priority check-in and services
  • Flexible booking options
  • Dedicated account management for larger businesses

Designed to Grow With You

Javier Alija, Vice President of Global Sales and Distribution at Etihad Airways, said:

“Today’s business world needs travel solutions that are efficient and adaptable.”

Whether you’re a small business looking for better travel rates or a multi-national company needing a fully managed solution, the new programme is built to scale with your needs.

Key Features Companies Can Expect:

  • A corporate travel portal with 24/7 access
  • Performance dashboards and real-time analytics
  • Dedicated support for business travellers
  • Personalised benefits tailored to your company

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Dubai’s Jumeirah Beach reopens soon:  Here’s what’s else authorities have planned for the city

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Good news for beach lovers, Jumeirah Beach is getting a makeover and will reopen this July, just in time for summer in Dubai.

Sharing updates during a recent media event organised by DMO, Bader Anwahi, CEO of the Public Facilities Agency, Dubai Municipality, said that work on the beach is almost done and it will soon be ready for the public to enjoy.

Big Plans for Dubai’s Beaches

The Jumeirah Beach upgrade is part of a bigger Dh355 million project to improve public beaches in Dubai. This includes:

  • Upgrades to Al Mamzar and Jumeirah 1 beaches
  • A floating pedestrian bridge at Al Mamzar (Dubai’s first)
  • A 24/7 night beach in Deira

The goal is to make beaches more enjoyable and easier to access, while also adding new features for residents and visitors.

More Beaches, More Space

Dubai’s long-term plan is to increase public beach areas by 400% as part of the Dubai 2040 Urban Master Plan. Work is moving fast, and Jumeirah 1 Beach is expected to reopen ahead of schedule.

Night-swimming beaches in areas have already seen over 1.5 million visitors since they opened in 2023.

New Community Spaces

The municipality is also building five new community spaces, called majlis venues, in:

  • Nad Al Sheba 2
  • Al Awir 2
  • Al Barsha South 1
  • Al Warqaa 2
  • Hatta

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