Mashreq NEO becomes first Digital bank in the UAE to allow non-resident Indian customers in UAE to open a non-resident account in India easily and instantly …
( read original story …)
After mega-IPO, DEWA is all set for DFM listing – how high will stock go on opening day?
DEWA had earnings of Dh6.6 billion in 2021 – with an annual dividend payout of a minimum Dh6.2 billion, that would then represent a 90 per cent plus payout,” said Sameer Lakh …
( read original story …)
UAE state funds were used to buy Israeli spyware
An Abu Dhabi state-owned investment company has been an investor in “Israeli” cyberweapon maker NSO Group since 2019, during which time NSO’s Pegasus spyware has been traced to the phones of …
( read original story …)
UAE businesses need to get cracking to be ready for June 2023’s corporate tax regime
Preparing for VAT will ensure that UAE businesses need less lead-time to be ready A 9 per cent corporate tax to be introduced in the UAE from June 2023, with a higher percentage set for …
( read original story …)
UAE banks have work to do as Central Bank winds down Covid-linked support measures
UAE Central Bank is in the midst of withdrawing key support measures launched in 2020 Dubai: As UAE banks continue to report strong recovery, analysts and bankers fear the full withdrawal of the …
( read original story …)
Dubai utility DEWA to raise $6.1 billion in biggest Gulf IPO since 2019
Dubai Electricity and Water Authority (DEWA) is set to raise 22.32 billion dirhams ($6.1 billion) after pricing its initial public offering at the top of the range on Wednesday, in the Gulf’s biggest …
( read original story …)
Dubai school operator Taaleem in preliminary talks for IPO
Dubai school operator Taaleem is in preliminary talks with banks for an initial public offering in Dubai, two sources told Reuters, a transaction that would test market appetite f …
( read original story …)
Emirates Development Bank Announces AED1.91 Billion Contribution to GDP at First Board Meeting of 2022
First year of new EDB strategy has helped add AED1.91 billion to the national economy and supported the growth of more than 1,350 SMEs EDB onboards more than 1,000 new business banking accounts in six …
( read original story …)
UAE’s GDP growth rate is highest in the region: Sheikh Mohammed
The Statistics Centre has announced the UAE’s gross domestic product for 2021. While the World Bank expected the UAE’s economy …
( read original story …)
UAE economy grew by 3.8% in 2021 -Dubai ruler
The United Arab Emirates recorded economic growth of 3.8% in 2021, Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum said in a Twitter post on Thursday.
( read original story …)
Dubai’s DEWA IPO to raise Dh22.3b, giving utility giant a market value of Dh124b at listing
The final offer price of DEWA’s IPO was set at Dh2.48 per share. Dubai: The initial public offering (IPO) of Dubai Electricity and Water Authority (DEWA) is expected to raise Dh22.3 billion ($6.1 …
( read original story …)
Mideast tech investor iMENA plans IPO, hires banks – sources
Middle East technology investment firm iMENA Group, part owned by Abu Dhabi telecom operator e& ETISALAT.AD, is considering an ini …
( read original story …)
Saudi Arabia, UAE pledge $3 million to Yemen after nation’s president transfers power to transitional council
Saudi Arabia and the UAE will provide $1 billion each to the Yemen central bank, in addition to a $1 billion pledge from Saudi to aid in the purchase of oil products and to support development …
( read original story …)
UAE’s DFSA introduces ‘whistleblowing’ regulatory regime
DFSA’s regime aims to improve the whistleblowing culture among its regulated entities by increasing transparency around how they handle regulatory concerns.
( read original story …)
Dewa IPO to become largest ever in UAE and in EMEA region so far
Dubai Electricity and Water Authority PJSC “Dewa” on Wednesday announces that, following the completion of the book building and subscription process for its initial public offering (“IPO”), it has …
( read original story …)
Dewa IPO to become largest in UAE, Europe, ME and Africa region so far in 2022
“The high international demand on Dewa’s initial public offering (IPO) reflects the trust and confidence in Dubai’s entities as quality investment opportunities,” stresses Sheikh Maktoum …
( read original story …)
Abu Dhabi Islamic Bank donates Dh1 million to UAE’s ‘1 Billion Meals’ campaign
Dubai: Abu Dhabi Islamic Bank (ADIB) has announced a donation of Dh1 million to UAE’s ‘1 Billion Meals’ initiative, the region’s largest food donation campaign of its kind …
( read original story …)