Investcorp Capital Plc’s Abu Dhabi initial public offering raised 1.66 billion dirhams ($451 million) after the deal priced at the top of the range and was upsized by 12%.
Investcorp Capital valued at $1.37bn in Abu Dhabi IPO
Bahrain-based asset manager Investcorp Capital has raised Dh1.66 billion ($451 million) from the sale of about a third of its shares to the public during its listing on the Abu Dhabi Securities …
Dubai Launches $136 Mn VC Fund To Finance Tech Startups
The Dubai Integrated Economic Zones Authority (DIEZ) on Friday launched a venture capital (VC) fund worth $136 million desig …
Dubai launches $136 million VC fund to finance tech startups
The Dubai Integrated Economic Zones Authority (DIEZ) on Friday launched a venture capital (VC) fund worth $136 million designed to finance technology startups.
UAE Central Bank to auction AED15.5bn in government bonds
The UAE Central Bank announced an auction of government bonds on November 13. The auction includes four issues of “M-BILL” treasury bonds, totaling AED15.5 billion. The first issue for 28 days will be …
Mohammed bin Rashid approves Dubai Government’s General Budget for 2024-2026 fiscal cycle with expenditures of AED246.6 billion
In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget for the …
Dubai’s Drake & Scull narrows loss to $9.5bln in Q3 2023
Dubai-based contractor Drake & Scull International (DSI) narrowed its net loss for Q3 2023 to 35 million dirhams ($9.5 million) versus a net loss of AED68.5 million in the year earlier period. Revenue …
DM welcomes Pak bank team
The delegation was led by Baqar Muthar, Chief Information Officer, UBL, and was welcomed by Indranil Guha, Head of Network Services Unit, Operation Network Services Section, IT Department, Dubai …
Dubai Police Arrest 43 Hackers Linked to $36 Million AI-Powered Theft
In a major crackdown, Dubai Police have arrested 43 individuals linked to an international gang accused of using AI-powered deepfake technology to conduct a $36 million theft from two Asian companies.
Sheikh Hamdan approves plans to double Dubai agriculture, boost $15.8bn industry sector, ban single use plastics
Dubai Executive Council announce major plans for agriculture and industrial sectors as well as single-use plastics ban …
New strategic incentives announced to boost Dubai’s economy
The Executive Council approved an ambitious plan to boost Dubai’s industrial sector. The strategic initiative is in line with the goals of the Dubai Economic Agenda D33 and aims to increase …
Wealth management senior partner David Gardner enters Dubai financial scene
From being a financial advisor in Halifax back home in Manchester, to moving to Dubai as a senior partner in the wealth management sector, David Gardner has stood out in the financial realm.
Investcorp Capital to price enlarged $450m IPO at top of the range
The IPO syndicate, which features what is believed to be the first ever stabilisation mechanism in the UAE, has been rejigged …
Abu Dhabi Finance Week 2023: Speakers, events, dates and more
Gathering global experts, the 2nd Abu Dhabi Finance Week, taking place from 27-30 November 2023, will include Asset Abu Dhabi, Fintech Abu Dhabi, R.A.C.E Sustainability Summit, and the Fortune Global …
Hamdan bin Mohammed approves strategic incentives to boost Dubai’s economy
The meeting was attended by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE. His Highness …
MetaSoilverse: Pioneering Metaverse Platform launching their IPO Tomorrow
Experience a new realm of interconnected 3D virtual worlds transcending traditional online experiences, offering real-time collaboration, decentralized finance, and cutting-edge technologies in one …
Dubai Police arrest gang accused of using AI to steal $36m
Police in Dubai have arrested 43 people believed to be involved in an international syndicate that used AI-powered deepfake technology to steal $36 million (Dh131.4 million) from two Asian companies.