Adnoc cuts indicative price range for unit’s IPO as market sags

Last month’s market debut of Dubai real estate firm Emaar Development was weak, and the stock has now dropped to 5.56 dirhams from the IPO price of 6.03 dirhams. The IPO raised $1.3 billion for Emaar Properties. Abu Dhabi’s main share index was flat on ... ( read original story ...)

UAE ranks high in technology adoption in financial services

The UAE embracing digital adoption faster than West in all areas of life including financial services, according to a recent HSBC research. HSBC’s new global research report, Trust in Technology, which includes research from over 12,000 people in 11 ... ( read original story ...)

Big investor response to Adnoc Distribution’s $2B IPO

Adnoc Distribution unit set an indicative price range of between Dh2.35 and Dh2.95 for its IPO that could raise as much as $2 billion to become a milestone transaction, the largest public offering in the UAE to date. Adnoc is selling a minimum of 10 per ... ( read original story ...)

UAE, Saudi Arabia forming new group, separate from GCC

KUWAIT CITY — The United Arab Emirates on Tuesday announced it has formed a new economic and partnership group with Saudi Arabia, separate from the Gulf Cooperation Council — a move that could undermine the council amid a diplomatic crisis with member ... ( read original story ...)

Dubai’s GEMS Education hires bankers for IPO

including Bank of America Merrill Lynch and JP Morgan, to pursue an initial public offering next year, according to multiple people familiar with the process. The largest school operator in Dubai has also included Credit Suisse and Morgan Stanley in the ... ( read original story ...)

250 credit card customers in Dubai affected

Credit card details of many UAE residents have been stolen and the central bank has asked financial institutions to inform customers and cancel the cards. "Please note that these details have been compromised and thus, contact the persons mentioned in the ... ( read original story ...)