Lulu Retail to float 25% stake in IPO on Abu Dhabi Securities Exchange

Lulu Retail, a hypermarket chain operator, has declared its plans to float 2.58 billion shares, marking a 25% stake on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) is scheduled to be held from 28 October to 5 November 2024, with the final offering price set to be determined through a book-building process.

UAE launches DAO’s legal framework

Ras Al-Khaimah (RAK), one of the emirates in the United Arab Emirates, has introduced a new legal framework tailored for decentralized autonomous organizations (DAOs) within its free zone designated …

Abu Dhabi has been named the best city in the world for… internet speed

Yep, that’s right. While it may be something Abu Dhabians take for granted, the capital has been named by Kearney’s Global Cities Index as the best global city in the world for fast internet connection. The report looks at the connectivity and global character of the world’s biggest cities and it’s the first time this metric was included.