It sold 975.9 million shares, or 40 per cent of equity through the IPO, which was oversubscribed several times, with significant demand from both qualified institutional and retail investors in the …
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Three Arrows Capital Moving Headquarters to Dubai From Singapore
(Bloomberg) –Crypto hedge fund Three Arrows Capital is planning to move its headquarters to Dubai from Singapore. The move by Three Arrows comes as Dubai opens to crypto firms while Singapore has …
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UAE, London IPOs Planned for Africa Finance’s Infrastructure Projects
(Bloomberg) — Africa Finance Corp. plans to sell shares of its projects on stock exchanges in London and the United Arab Emirates to raise capital and fund infrastructure development across the …
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UAE Ministry of Finance invites online feedback from businesses on new Corporate Tax
Submissions and comments need to be made by May 19 The UAE Ministry of Finance has opened an online public consultation with the local business community to get their views on the country’s …
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Three Arrows Capital to ditch Singapore for Dubai
Three Arrows Capital, a cryptocurrency trading and hedge fund manager, is moving its headquarters to Dubai from Singapore, becoming the latest among a growing number of firms looking to expand …
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UAE to issue first tranche of federal treasuries on May 9
The United Arab Emirates’ finance ministry said on Thursday it will issue on May 9 the first tranche of federal treasury bonds, as part of a plan to develop a local currency bond market, Trend reports …
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CBD ranked No. 1 bank in the UAE on Forbes list of World’s Best Banks 2022
The Forbes fourth annual ‘World’s Best Banks’ report, published in conjunction with market research firm Statista, surveyed more than 45,000 customers across 27 …
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Commercial Bank of Dubai Q1 profit jumps 32.6%
The bank said higher revenue across net interest and other operating income, underpinned by solid loan growth, generated a robust increase in net profit …
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First Abu Dhabi Bank reports highest quarterly net profit in its history at $1.38 billion in Q1 2022
The First Abu Dhabi Bank’s total income reached $1.98 billion and includes a $762.29 million net gain on the disposal of majority stake in payments business Magnati First Abu Dhabi Bank reports …
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Dubai’s Averda explores IPO; abandons merger talks: report
The company had earlier held merger talks with US blank-check firm Better World Acquisition Corp., but those discussions have been abandoned, the report said. The privately-owned business has in the …
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Dubai’s Averda Mulls IPO in UAE or KSA: Report
Averda, a Dubai-based provider of waste-disposal services provider, is considering an initial public offering (IPO) in Saudi Arabia or the UAE, Bloomber …
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UAE finance ministry to issue first tranche of federal treasuries
The United Arab Emirates’ finance ministry said on Thursday it plans to issue on May 9 the first tranche of federal treasury bills, in cooperation with the central bank.
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How will the UAE’s new venture capital fund help overcome current obstacles in the nation’s startup sector?
While the $100 million fund announced by Sheikh Hamdan bin Mohammed is a prime example of the drive to be at the forefront of a digital future, it is also crucial to startups in the fintech space …
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Mashreq Bank offers investors added option to open digital bank account by joining UAE KYC Blockchain Platform
Mashreq Bank joins a group of four banks that are currently live on the network, including Emirates NBD, Commercial Bank of Dubai (CBD), Abu Dhabi Commercial Bank (ADCB), and HSBC Mashreq Bank offers …
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Dubai’s Leading Developer to Facilitate Bitcoin and Ethereum Holders
Damac Properties announced yesterday that it will facilitate the sale of the property to Bitcoin and Ethereum holders.
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UAE residents cash in on weak British pound as remittances surge to UK
Exchange houses in the UAE have reported a surge in remittances to the UK after the British pound fell to its lowest level against the US dollar since July 2020, giving British residents a window of …
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UAE’s biggest lender FAB posts record quarterly profit of $1.4 bln
First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, reported on Thursday its highest ever quarterly net profit, helped by the sale of a majority stake in its payments business.
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