Hamed Ali, Chief Executive of Nasdaq Dubai, said the Reit’s successful listing demonstrates … UAE Limited were joint global coordinators and joint bookrunners for the IPO. Associate Business Editor of Khaleej Times, is a well-connected Indian journalist …
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Emaar Malls' $800 million bid for Souq.com to challenge Amazon
DUBAI Dubai’s Emaar Malls, operator of glitzy Middle East shopping centers, has made an $800 million offer for regional online retailer Souq.com [IPO-SOUQ.DU], setting up a potential bidding war with Amazon.com. Emaar Malls’ bid has so far not been …
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Emirates Global Aluminium mandates US banks for IPO: sources
EGA was created in 2013 when state-owned companies Dubai Aluminium (Dubal) and Abu Dhabi’s Emirates Aluminium (Emal) merged. Its enterprise value was put at $15 billion at the time of the merger. It is owned by Abu Dhabi state fund Mubadala Investment Co …
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Dubai's Arqaam Capital launches global hedge fund in rare move
DUBAI, March 27 Dubai-based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre …
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Emirates Global said to pick BofA, Goldman and JPMorgan for IPO
If the aluminium producer raises $3 billion, it would be the largest-ever IPO from the UAE, according to data compiled by Bloomberg, surpassing the 2014 stock sale by Emaar Malls PJSC. Spokesmen for EGA and the banks declined to comment.
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Arqaam Capital launches global macro hedge fund
Dubai: Arqaam Capital, the specialist emerging markets investment … and top-tier international investment banks and leading hedge fund managers. The fund will be managed by Areski Iberrakene as Chief Investment Officer. “The launch of Arqaam’s …
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De-risking takes toll on GCC institutions’ access to global banking system
“Financial institutions, here in the UAE and in global banking centers, must ensure they have effective governance in place to adequately assess risks and consider any adverse impact that the termination of correspondent banking relationships may have on …
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Dubai Financial Market : Emirates NBD real estate investment trust climbs in first day of trading on Nasdaq Dubai
Shares in ENBD Reit, the UAE’s second real estate investment trust, rose by 5.4 per cent during its first day of trading on Nasdaq Dubai yesterday as the company said it planned to focus more on investing in schools, health care and logistics, besides …
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Dubai Islamic Bank : DIB supports Dubai’s vision of becoming the Happiest City in the World
Participation in Happiness Meter program underscores DIB’s commitment and dedication to the government’s vision of making Dubai a Smart City and a center of technological excellence Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, is firmly …
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Hedge fund manager Eric Mindich shuts down Eton Park
For hedge funds, 2016 was the worst year since the height of the financial … The dollar hovered near a four-month low against the Japanese yen on Thursday ahead of a vote on a… DUBAI (Reuters) – Saudi Arabia’s crude exports to the United States in …
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UAE will hold workshops to prepare businesses for the new tax system.
The UAE Ministry of Finance has launched the first phase of its awareness and education workshops that will prepare businesses for the new tax system that will be introduced by the end of this year, in the case of excise tax, and early next year for value …
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Value of UAE’s margin trading finance on bourses hits all-time high
ABU DHABI: The value of margin trading finance on UAE bourses hit Dh31 billion in January and February, an all-time-high since the inception of margin trading in 2008. The growth in the service’s financial value during the two months account for 37.3 per …
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Current slowdown good for banking sector: Al Ghurair
Dubai: The current slowdown in business is good for the banking sector and UAE banks would emerge strong from these challenges, said Abdul Aziz Al Ghurair, Chairman of UAE Banks Federation (UBF) at the meeting of the CEOs Advisory Council of UBF on Wednesday.
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UAE publishes VAT timetable; excise tax roll out in 2017
The UAE Ministry of Finance has launched the first phase of its awareness and education workshops that will prepare businesses for the new tax system that will be introduced by the end of this year, in the case of excise tax, and early next year for value …
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Emirates Global Aluminium plans IPO, banks pitch for role: sources
DUBAI Emirates Global Aluminium (EGA), one of the world’s top five producers, has invited banks to pitch for a role in its planned initial public offering, sources told Reuters. The IPO could take place later this year, on either the Dubai or Abu Dhabi …
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Emirates Global Aluminium plans IPO
The IPO could take place later this year, on either the Dubai or Abu Dhabi stock exchange, but the size of the offering has yet to be determined, the sources said. EGA was created in 2013 when state-owned companies Dubai Aluminium (Dubal) and Abu Dhabi’s …
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Warba Bank celebrates listing of its sukuk in Nasdaq Dubai
KUWAIT: Shaheen Al-Ghanem, Chief Executive of Warba Bank, the best investment bank in Kuwait as well as the best corporate advisory, yesterday rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a $250 million Perpetual Tier 1 Basel …
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