NMDC Energy shares initially soared more than 21 per cent before settling to an 8 per cent gain after an historic IPO in the UAE. NMDC Energy has begun trading on the Abu Dhabi Securities Exchange …
Oman’s OQEP to offer 25% stake in IPO, state news agency reports
Wall Street closed flat on Friday, hovering near the previous session’s record-high close for the Dow and S&P 500, while the dollar firmed as investors digested the Federal Reserve’s 50-basis-point …
Prypco disburses record $136m mortgages in August
Prypco, a Dubai-based prop-tech start-up, has announced a major milestone. In August 2024, Prypco Mortgage disbursed over AED500 million ($136 millon) in mortgages. This represents the highest volume …
Upcoming IPO: Schloss Bangalore, Operator Of Leela Palace, Submits Draft Papers For Maiden Issue, Check Details
The firm in its draft red herring prospectus (DRHP) revealed that it plans to raise Rs 3,000 crore via a fresh issue of equity and Rs 2,000 crore through an offer-for-sale (OFS) component …
The UAE’s growth plan to boost ranks of Emiratis
But a new “Emirati Family Growth Support Programme” in Abu Dhabi, the emirate which includes the UAE’s capital city, focuses on family size, with incentives such as reduced loan debt on the birth of a …
UAE: Up to 2 years jail, fines over Dh5,000 for incorrectly signing a cheque
If a signature was forged intentionally or maliciously, legal action can be taken to recover the amount owed under the law …
Israel raids, shuts down Al Jazeera bureau in Ramallah in West Bank
Israeli troops raided the offices of the satellite news network Al Jazeera in the Israeli-occupied West Bank early Sunday.
Look: Dubai Metro commuters dance to tunes inside trains, stations as music festival kicks off
The festival will run until September 27 at five key metro stations: Dubai Mall, Mall of the Emirates, BurJuman, Union, and DMCC from 5pm to 10pm …
AlShaya Starbucks franchise stake sale talks on hold, sources say
The sale of a stake in the Middle East, North Africa and central Asia Starbucks franchise operated by Kuwait’s AlShaya Group is on hold, two people with knowledge of the process said.
boAt’s Aman Gupta confirms IPO plans for 2025, global expansion in UAE
Wearables brand boAt is preparing for a big leap in 2025 with an IPO on the horizon, co-founder Aman Gupta revealed at the ET Soonicorns Summit in Bengaluru. Gupta shared that the company is working …
UAE public joint-stock companies hand out $16.8bn in dividends
Securities and Commodities Authority reveals cash dividends and bonus shares for public joint-stock companies in the UAE …
Opalesque Roundup: Traditional hedge funds management fees remain higher than bespoke strategies: hedge fund news
In new launches, Britney Lam, head of long-short equities at the Dubai-based Magellan Capital Holdings, discusses the launch of a $700 million multi-strategy hedge fund set to be one of the largest …
Leela hotels owner Schloss Bangalore files IPO papers to raise for $599 million
Schloss is issuing fresh shares worth 30 billion rupees, while shareholder Project Ballet Bangalore Holdings (DIFC), an affiliate of Brookfield Asset Management, is selling shares worth 20 billion …
Alieus Fund Launches Revolutionary Hedge Fund with Advanced Investment Strategies
Alieus Fund is excited to announce its official launch, marking a pivotal moment in the hedge fund industry. Starting September 7, 2024, Alieus Fund will be available to investors around the globe, …
UAE economy to expand 4.8% in 2024 as travel booms: analyst
The UAE economy will expand by 4.8 per cent in 2025, according to Scott Livermore, ICAEW Economic Advisor and Chief Economist and Managing Director of Oxford Economics Middle East. Livermore …
Anand Rathi eyes Rs 1,000 cr IPO; first brokerage firm to go public since 2020
The proposed IPO comes on the back of a strong performance of Indian stock markets, despite global macroeconomic challenges, driven by surging domestic capital in both institutional and retail sectors …
Mullen Provides Update on Volt Mobility $210 Million UAE Order
Mullen’s commercial vehicles arrived in Dubai this week Mullen staff also on site in Dubai this week to meet with Volt leadership. First initial shipment included Class 1 and Class 3 EV vans and …