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First Abu Dhabi Bank: No Longer Considering Possible Offer for StanChart

First Abu Dhabi Bank (FAB). Reuters file photo
First Abu Dhabi Bank (FAB). Reuters file photo
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First Abu Dhabi Bank: No Longer Considering Possible Offer for StanChart

First Abu Dhabi Bank (FAB). Reuters file photo
First Abu Dhabi Bank (FAB). Reuters file photo

First Abu Dhabi Bank (FAB), the United Arab Emirates' biggest lender, said on Thursday it was considering a bid for London-listed Standard Chartered but was no longer doing so.

Bloomberg had earlier reported that FAB had been exploring an offer for Standard Chartered as part of a plan aimed at building an emerging markets bank, driving Stanchart shares up as much as 20%.

The shares pared the gains to trade up 6% at 1421 GMT following FAB's statement that it was no longer pursuing a potential deal.

The Abu Dhabi lender said it had been in "the very early stages of evaluating a possible offer" for the emerging markets-focused bank.

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Iraq Considers Oil Exports via Lebanon’s Tripoli Port, to Study Reviving Iraq-Syria Pipeline

The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (AFP)
The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (AFP)
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Iraq Considers Oil Exports via Lebanon’s Tripoli Port, to Study Reviving Iraq-Syria Pipeline

The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (AFP)
The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (AFP)

Iraq's oil ministry is considering exporting oil through Lebanon's Tripoli port and will study reviving the dormant Iraq-Syria oil export pipeline, it said on Tuesday.

The ministry plans to form a joint committee to assess the pipeline's condition.

The announcement came during a visit by Syria's energy minister to Baghdad to discuss cooperation in oil, gas and energy.

Iraq dispatched a high-level delegation to Damascus in April to assess the feasibility of reviving the Iraq–Syria oil pipeline, a move Baghdad is counting on to diversify export routes amid expanding production capacity.