Trudeau announces Pacific trade deal without US

nternational diplomats attend a meeting to push for sanctions and criminal charges against the perpetrators of chemical attacks in Syria, at the Foreign Affairs ministry in Paris on January 23, 2018. (AFP)
Updated 24 January 2018
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Trudeau announces Pacific trade deal without US

Canadian Prime Minister Justin Trudeau says Canada and 10 other countries of the Trans-Pacific Partnership have agreed to a revised trade agreement.
The deal comes exactly one year after US President Donald Trump withdrew his country from the agreement.
The agreement follows two days of high-level talks in Tokyo and was confirmed by Canadian International Trade Minister Francois-Philippe Champagne. The partners are now expected to work toward signing the agreement by early March.
Trudeau told a crowd at the World Economic Forum in Davos, Switzerland, that the pact meets Canada's objectives of creating and sustaining growth, prosperity and well-paying middle-class jobs today and for generations to come.
The agreement comes amid worries that Trump will pull the US out of the North American Free Trade deal. Seventy-five percent of Canada's trade goes to the US.


Dubai Aerospace signs $480 million loan deal

Updated 21 May 2018
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Dubai Aerospace signs $480 million loan deal

DUBAI: Dubai Aerospace Enterprise (DAE), one of the world’s largest aircraft lessors, said on Monday it had signed a four-year loan deal for $480 million.
DAE, a government-controlled company set up in 2006, has become one of the world’s largest aircraft lessors after acquiring Dublin-based AWAS last year.
The acquisition tripled the Dubai aircraft leasing and maintenance company’s portfolio to about 400 aircraft worth more than $14 billion.
The $480 million loan, which includes both conventional and Islamic finance tranches, has a so-called “accordion facility” allowing it to be increased to up to $800 million.
With the loan, the company’s unsecured revolving credit facilities increase to between $1.125 billion and $1.445 billion, depending on final size of the latest deal, Firoz Tararpore, DAE’s chief executive, said in a statement.
“On a pro forma basis as of December 2017, if this facility is fully drawn and if the proceeds are used to pay down secured indebtedness, DAE’s percentage of unsecured debt would increase from 26 percent to a range of 31-34 percent.”
Last year, the company issued $2.3 billion in senior bonds split across three tranches last year, partly to finance the AWAS acquisition.
Tarapore said in an interview last week that DAE was in talks to buy a near-record total of 400 jetliners from Airbus and Boeing in an order that could be worth more than $40 billion at list prices.
Al Ahli Bank of Kuwait coordinated the latest loan deal and was also the lead arranger and joint bookrunner together with First Abu Dhabi Bank, while Noor Bank joined the deal as lead arranger.