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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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Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Mawani Reports 13% Growth in Container Handling at Ports in May 2025
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Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Ports supervised by the Saudi Ports Authority (Mawani) recorded a 13% increase in container handling during May 2025, reaching 720,684 twenty-foot equivalent units (TEUs), compared with 639,736 TEUs in the same period last year.

Transshipment containers increased by 12.89%, totaling 149,143 TEUs compared to 132,112 last year. Imports also grew by 15.84%, reaching 292,223 TEUs, compared to 252,265 TEUs in May 2024, SPA reported.

Outgoing containers increased by 9.38%, totaling 279,318 TEUs compared to 255,359 TEUs in the same month last year.

Total handled cargo—including general cargo, solid bulk, and liquid bulk—increased by 1.40% to reach 21,337,699 tons, up from 21,042,684 tons in the corresponding period of 2024. This total includes 935,932 tons of general cargo, 5,059,899 tons of solid bulk cargo, and 15,341,868 tons of liquid bulk cargo.

The ports also received 1,635,489 heads of livestock, marking a 61.22% increase from 1,014,417 in the same period last year. Maritime traffic rose by 9.39%, with 1,083 vessels received compared to 990 last year. Passenger numbers increased by 68.15% to 95,231, up from 56,636 in May 2024. The number of vehicles grew by 13.09% to 84,352, compared to 74,590 last year.