Abu Dhabi-based hypermarket chain Lulu Group plans to raise Dh10bn ($2.7 bn) to refinance existing debt, before a possible IPO next year,, reports said. The financial injection will also enable the …
COP28 boss ramps up finance push
Catch up fast: Barbados Prime Minister Mia Mottley is leading a major push for greater MDB finance, and on more favorable terms — an effort al-Jaber name-checked in his remarks. National Democratic …
Dubai real estate market records $600mn property deals on Thursday
There were 92 mortgage deals in Dubai real estate on Thursday, worth a combined AED384.85 million Dubai real estate market records $600mn property deals on Thursday Dubai, Dubai real estate, Dubai …
Lulu to raise $2.7bn ahead of possible IPO
Lulu is reportedly realigning its capital structure before a possible listing in 2024 after delaying those plans this year …
Salik quarterly profit softens on higher expenses
Dubai toll operator Salik reported a decline in its second quarter after a rise in expenses – even as revenue jumped to a record high. Net profit for the period slid to nearly Dh273 million ($74.33 …
Dubai’s DEWA reports $3.4 billion revenue for H1 2023
The cumulative results for the first six months of the year revealed a consolidated revenue of AED 12.7 billion ($3.4 billion) and a net profit of AED 2.7 billion ($735 million). . Dubai’s DEWA …
Dubai logs over $99mln in realty transactions Thursday
DUBAI: Dubai’s real estate market recorded 551 sales transactions worth AED1.8 billion on Thursday, in addition to 92 mortgage deals totalling AED384.85 million, and 19 gift deals amounting to …
UAE-based Lulu to raise $2.72bln ahead of IPO
UAE – LuLu Group International, the Abu Dhabi-based leading hypermarket chain and mall operator in the Middle East, is raising Dh10 billion to refinance debt ahead of potential initial public offering …
Dubai’s DEWA reports revenue of Dhs12.7bn in H1 2023
Dubai Electricity and Water Authority (DEWA) has reported its consolidated financial results for H1 2023. DEWA ‘s second quarter of 2023 revenue was Dhs7.3bn, while net profit was Dhs1.98bn. For the …
Correction: hedge funds in Dubai
Figures cited in an article on August 9 on hedge funds in Dubai were sourced from the Dubai International Financial Centre, not the Dubai International Regulatory Authority.
UAE’s economy to continue its robust performance in 2023: Opec
The Organisation of the Petroleum Exporting Countries (Opec) forecast that the UAE’s economy will continue its robust performance in 2023, after recording a growth of 7.9 per cent year-on-year in 2022 …
Dubai logs over AED2.2bn in realty transactions Thursday
Dubai’s real estate market recorded 551 sales transactions worth AED1.8 billion on Thursday, in addition to 92 mortgage deals totalling AED384.85 million, and 19 gift deals amounting to AED111.2 …
UAE-based Lulu to raise Dh10b ahead of IPO
It is working with Moelis & Co. on the IPO plans, the sources said … The group is reportedly borrowing the funds from Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Bank and Mashreq …
Central Bank UAE imposes Dhs4.8m fine on an exchange house
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws.
UAE slaps $1.3mln fine on exchange house for violating compliance laws
The Central Bank of the UAE (CBUAE) has imposed a financial sanction and a fine of 4.80 million dirhams ($1.3 million) on an exchange house operating in the UAE, for failing to comply with its …
Al Ansari Financial Services reports dip in profits for H1 2023
Al Ansari attributed the drop in net profit to predominantly lowered remittance margins, higher costs as well as an increase in financing costs …
Turkey Expects UAE To Initiate $51 Billion Investment Deal By Year-End
After signing a $51 billion financial investment package with the UAE last month, Turkey expects the money to start flowing by the end of the year.