The United Arab Emirates is increasingly pursuing bilateral trade deals outside of the Saudi-headquartered regional Gulf Cooperation Council (GCC), as competition with Riyadh intensifies for economic …
UAE: Adnoc to list logistics unit at Dh2.01 per share
Total demand across the tranches in the UAE retail offering amounted to more than $31 billion (in excess of 269 times oversubscribed). The price range for the IPO was previously set between Dh1.99 to …
ADNOC L&S IPO marks record oversubscription; to raise $769mln
Abu Dhabi National Oil Company PJSC (ADNOC) has set the final offer price in the IPO of its logistics subsidiary at 2.01 dirhams ($0.54) per share, at the top of the range as indicated earlier. This …
ADNOC announces the final offer price and order of record for the IPO of ADNOC Logistics and Services PJSC
Commenting on the historic bookbuild for a UAE IPO, Khaled Al Zaabi, Group CFO of ADNOC said: “We are delighted with the unparalleled demand for ADNOC L&S shares from UAE retail investors as well as …
ADNOC Logistics & Services IPO shares priced at top of range -statement
Shares in ADNOC Logistics & Services’ initial public offering were priced at the top of the range, valuing the company at about $4.05 billion, Abu Dhabi National Oil Company (ADNOC) said in a …
UAE’s Brands For Less Group plans sale of minority stake to investors -sources
DUBAI, May 25 (Reuters) – The owners of UAE-based budget retailer … Updated undefined ago Autos & Transportationcategory India’s Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak – source …
UAE Islamic banks’ assets rise to AED631 bn by end February 2023
The assets of UAE-based Sharia-compliant banks grew to AED631.7 billion by the end of February 2023, up by 6.5 percent from AED593.1 billion, statistics by the Central Bank of the UAE have shown. On a …
Maktoum bin Mohammed: Dubai’s progressive economic policies support its sustainable development journey
DUBAI: H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, today met with Douglas L. Peterson, President …
ADNOC boosts Middle East IPO activity as Saudi Aramco debates next moves
Amid an enduring global IPO slump, the Middle East continues to produce new listings in 2023. That’s headlined by Abu Dhabi’s national oil company ADNOC delivering Q1’s larg …
Adnoc L&S closes book on enlarged ADX IPO
The books closed on Wednesday, two days after Adnoc decided to increase the size of the offering to a 19% stake in Adnoc L&S, up from 12% at launch. A source close to the deal said on Wednesday that …
AI in finance to inject Dh103b into UAE’s GDP by 2035
Artificial Intelligence in the financial sector is expected to inject Dh103 billion into the UAE’s economy by 2035 as the Arab world’s most future-ready nation aims to boost the contribution of this …
Cop28 pledges four pillars to unleash finance for climate change
Majid Al Suwadi, the director general and special representative of the UAE for the Cop28 presidency, has outlined an agenda to trigger new finance for addressing climate change at the global …
Dubai Unveils Ambitious $4 Billion MOON Project to Boost UAE Economy
Dubai has recently revealed its ambitious plan to construct a replica of the moon at a staggering cost of $4 billion. The primary objective of …
UAE issues three new ministerial decisions relating to corporate tax
These include Ministerial Decision No.114 of 2023 on the Accounting Standards and Methods; Ministerial Decision No.115 of 2023 on Pensions and Social Security Funds; and Ministerial Decision No.116 of …
Ministry of Finance issues three new ministerial decisions relating to corporate tax
These include Ministerial Decision No.114 of 2023 on the Accounting Standards and Methods; Ministerial Decision No.115 of 2023 on Pensions and Social Security Funds; and Ministerial Decision No.116 of …
5 digital banking apps for the tech-savvy Gen Z in the UAE
Digital banks have emerged as the driving force behind a financial revolution for the younger generation, leveraging a groundbreaking approach to banking that seamlessly aligns with the connected …
Abu Dhabi’s National Marine Dredging doubles investment in ADNOC L&S IPO to $60mln
Abu Dhabi-based National Marine Dredging Co. PJSC has doubled its cornerstone investment in the IPO of ADNOC Logistics & Services (L … its business and investments inside and outside the UAE. ADNOC …