The UAE Ministry of Finance (MoF) on Thursday published the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023, unveiling that the government’s revenues …
Parkin raises $429m in record oversubscribed IPO deal
Parkin, the company set up by Dubai to oversee parking operations in the emirates, has raised Dh1.57 billion ($429 million) from its initial public offering, the first in the UAE this year, which …
Oman announces the launch of the Oman Investment Bank
The new bank was recently listed on the third market of the Muscat Stock Exchange Dubai: Oman launches a new investment bank, The Oman Investment bank, the first specialised investment bank, to help …
Abu Dhabi-Based Edtech Firm Alef Is Said to Tap Banks for IPO
Alef Education, an Abu Dhabi-based edtech firm, has picked EFG Holding and First Abu Dhabi Bank to work on its planned initial public offering, according to people familiar with the matter.
Dubai: Parkin raises Dh1.6 billion; IPO oversubscribed 165 times
Setting a new IPO record in Dubai’s financial market, the company will be the largest provider of paid parking facilities and services in the emirate …
UAE’s financial system ‘more secure’ than ever before, central bank says
The UAE’s financial system is more secure and efficient than ever before on the back of technological and structural advancements, the Central Bank of the UAE (CBUAE) said. The apex bank said the …
Mitgo Group acquires UAE finance platform Embedded
Mitgo Group has acquired the UAE-based embedded finance platform “Embedded” for undisclosed value. Founded in 2023 by Oleg Chanchikov, Embedded offers embedded financial services, which will augment …
Dubai International Financial Centre introduces major digital asset laws
DIFC introduces world-first law on the regulation of digital assets and security for investors and businesses in Dubai …
UAE Interbank Football Tournament donates prize money to the Red Crescent projects
The annual tournament organised by UAE Banks Federation, saw Dubai Islamic Bank win the first place, with HSBC Bank in second place and Sharjah Islamic Bank team in third place …
Dubai’s DIFC enacts world’s first comprehensive digital assets law
The new law follows a review by DIFC of legal approaches taken to digital assets in multiple jurisdictions, and a period of public consultation in 2023 …
The Transformative Impact of Revenue-Based Finance Fintech, Alternative Lending, and Monet on the lending Landscape
Challenges include inadequate financial management and lack of collateral for finance. In summary, the adoption and evolution of alternative lending and innovative financing models in the UAE are …
E.U to join IMF, World Bank, UAE in providing multi billion USD support to Egypt – Report
The European Union (EU) has disclosed plans to provide around €7.4 billion support to Egypt as part of effort to …
Parkin IPO: UAE retail offering increased on strong demand
The Dubai parking firm Parkin increased the allocation of retail investor shares to 89,964,000 ordinary shares from 74,970,000 ordinary shares.
Parkin increases allocation of retail investor shares in IPO
Following the increased allocation to the UAE Retail Offer, the Qualified Investor Tranche will be allocated 659,736,000 shares, instead of 674,730,000 ordinary shares, representing 88 per cent of the …
Privatisation to spur GCC IPO momentum in 2024
Although the overall value of funds raised through primary public listings dropped by about 55 per cent annually, the number of IPOs in the GCC declined marginally to 46 issuances in 2023 from 48 …
UAE: Parkin increases number of shares allocated to retail investors in its IPO
Parkin Company PJSC today announced an increase in the number of shares offered in the UAE Retail Offer of its initial public offering (IPO) following an exceptional level of over-subscription and …
Dubai Police Arrest 17 Beggars On First Day Of Ramadan
Photo: Dubai Police “Official entities and charitable organisations are available for those in need of financial assistance or iftar meals,” he explained. Al Shamsi added that begging is an illegal …