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Abu Dhabi's Lunate Launches ETF Tracking Japan Equities

Lunate Capital is launching an exchange-traded fund tracking Japanese equities that will be listed on the Abu Dhabi securities exchange (ADX). WAM
Lunate Capital is launching an exchange-traded fund tracking Japanese equities that will be listed on the Abu Dhabi securities exchange (ADX). WAM
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Abu Dhabi's Lunate Launches ETF Tracking Japan Equities

Lunate Capital is launching an exchange-traded fund tracking Japanese equities that will be listed on the Abu Dhabi securities exchange (ADX). WAM
Lunate Capital is launching an exchange-traded fund tracking Japanese equities that will be listed on the Abu Dhabi securities exchange (ADX). WAM

Abu Dhabi investor Lunate Capital is launching an exchange-traded fund (ETF) tracking Japanese equities that will be listed on the Abu Dhabi securities exchange (ADX), the firm said in a statement on Thursday.

Lunate said the Chimera S&P Japan UCITS ETF, its third ETF so far this year, will list on May 29 and give investors access to the top 30 most liquid Japanese stocks listed on the Tokyo Stock Exchange including Toyota and Sony.

Lunate manages $105 billion of assets.

The ETF market will contribute to bolster "Abu Dhabi's plan to diversify its economy and attract more investors to its financial center," ADX's CEO Abdulla Salem Alnuaimi was quoted as saying in Thursday's statement.

Investors will be able to subscribe to the ETF between 16-23 May, Lunate added.

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Syria to Receive Electricity-generating Ships from Qatar, Türkiye

FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
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Syria to Receive Electricity-generating Ships from Qatar, Türkiye

FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo

Syria will receive two electricity-generating ships from Türkiye and Qatar to boost energy supplies hit by damage to infrastructure during President Bashar al-Assad's rule, state news agency SANA quoted an official as saying on Tuesday.
Khaled Abu Dai, director general of the General Establishment for Electricity Transmission and Distribution, told SANA the ships would provide a total of 800 megawatts of electricity but did not say over what period.
"The extent of damage to the generation and transformation stations and electrical connection lines during the period of the former regime is very large, we are seeking to rehabilitate (them) in order to transmit energy,” Abu Dai said.
According to Reuters, he did not say when Syria would receive the two ships.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Assad's rule to try to increase the flow of humanitarian assistance.
The exemption allows some energy transactions and personal remittances to Syria until July 7. The action did not remove any sanctions.
Syria suffers from severe power shortages, with state-supplied electricity available just two or three hours a day in most areas. The caretaker government says it aims within two months to provide electricity up to eight hours a day.