According to The Economist Intelligence Unit (The EIU), the research and analytical branch of The Economist Group, Abu Dhabi has now been named the most livable city in the area for the second year running.

The UAE capital climbed seven spots in the worldwide quality of living index for 2021. The current ranking is the consequence of the government's continuous social and economic progress, and its excellent reaction to the pandemic's problems, notably in the health sector, which has seen Abu Dhabi record the world's best reaction to COVID-19 earlier this year.

The overall rating rates the world's 140 most livable cities based on 30 criteria. It ranks the world's finest cities to live in based on the amount of luxurious comfort of life within every city, as established by a set of criteria and variables, including stability, healthcare quality, culture and environment, education quality, and infrastructure.

As per the Economist Intelligence Unit's categorization, every city earns a rating for each category.

Amidst global challenges inflicted by the pandemic that adversely affected the ranking of cities in terms of quality of life in these cities, leading to a decline in the score of some European cities included within the index, Abu Dhabi maintained the top position in the Arab world, accompanied by Dubai, as the greatest city to live in the Middle East.

“The coordinated efforts of all government entities and the holistic foresight of our leaders were always the foundation of the emirate's pursuance to accomplish more at all stages, including community development and quality of living in Abu Dhabi,” said Falah Muhammad Al Ahbabi, Chairman of the Department of Municipalities and Transport (DMT).

“We always have operated within the framework of a long-term strategy, proactively, that enables us to accomplish our nation's objectives and implement people-centered plans,” he continued. “Today, DMT sees new ratings as an incentive to achieve more, carrying forth the lineage of the late founding father, Sheikh Zayed Bin Sultan Al Nahyan, and working synonymously under the specific supervision of President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, and with the support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander.

According to Al Ahbabi, DMT constantly works to enhance the Abu Dhabi lifestyle and uphold development while conserving the environment and it aims to deliver sustainable amenities, infrastructure, and urban development to attain the greatest levels of well-being for our coming generations.

The Abu Dhabi Securities Exchange (ADX) has listed 1 billion euros in bonds offered by Emirates Telecommunications Group Company PJSC (Etisalat Group), due in 2028 and 2033. The bonds were oversubscribed by more than six times.

Etisalat Group's 500 million euro 7-year notes mature on 17 May 2028 and have a yield of 0.375 %, while the 12-year 500 million euro tranche expires on 17 May 2033 and has a yield of 0.875%. The senior unsecured notes are rated AA- by S&P and Aa3 by Moody's and were released as part of Etisalat's Euro Medium Term Note Program. Bondholders will receive interest payments on the 17th of May each year.

The offering of Etisalat Group's notes follows the $1 billion offerings of Abu Dhabi Ports earlier in the month and the April offering of 1.1 billion euros of notes issued by Mamoura Diversified Global Holding, a completely owned subsidiary of Mubadala Investment Company. Expanding the number of exchange listings is an objective of ADX's ‘ADX One' strategy, which has been unveiled previously this year to double market capitalization over the following three years. First Abu Dhabi Bank served as a Listing Agent for Etisalat Group's Eurobonds on the ADX. ADX anticipates more than ten listings in 2021, with the introduction of a derivates market planned for the fourth quarter.

“We appreciate the ranking of Etisalat Group's 1 billion euro bond on the ADX as we aim to develop a vibrant debt capital markets eco-system and extend funding alternatives for firms in Abu Dhabi and the broader region,” said Saeed Hamad Obaid Al Dhaheri, Chief Executive Officer of ADX. The offering was six times oversubscribed, showing increased investor interest in the UAE's telecommunication sector from both domestic and foreign investors. Because of the investments we have made in goods and services over the last year to fulfill their needs, issuers have grown increasingly interested in the ADX. This is reflected in ADX's record market value in the first quarter.

“The updated EUR 1 billion bond raising exercise has provided Etisalat Group with a possibility to expand our sources of capital while taking advantage of the enhanced financing cost, and listing on the Abu Dhabi Securities Exchange improves flexibility and accountability for Etisalat Group and investors in the debt capital market,” said Eng. Hatem Dowidar, Chief Executive Officer of Etisalat Group. We are happy with the favorable price of our bonds and the high level of demand from investors in the area and throughout the world.