The growth figures align with Dubai’s Economic Agenda D33 and Dubai Social Agenda 2033, which aim to position the emirate as a global investment hub and economic centre, Sheikh Hamdan said …
Emirates Development Bank reinforces commitment to supporting UAE’s food production at Gulfood Manufacturing 2024
Dubai: Emirates Development Bank (‘EDB’ or ‘the Bank’), the key financial engine of UAE economic development and industrial advancement, has successfully concluded its participation at the 10th …
BlueBay, other hedge funds turn focus to bank, bond and oil trades under Trump
Hedge funds including BlueBay were turning their attentions to crude oil, U.S. Treasuries, tech and U.S. banks on Wednesday, after Donald Trump was elected president. Trump’s victory gives him a clear …
UAE MoF signs MoUs for sustainability and capacity building
The first MoU will launch executive diploma programme in Government Financial Policy Sustainability in 2024 and 2025.
Delivery Hero’s Talabat to launch over $1 bln Dubai IPO next week, sources say
Talabat, the Middle East business of Delivery Hero , plans to kick off its Dubai initial public offering next week, three people familiar with the plans told Reuters, in one of the UAE’s biggest IPOs …
MENA IPO outlook remains positive in Q3 2024 despite global slowdown
The EY MENA IPO Eye Q3 2024 report reveals a cautiously optimistic IPO market in the Middle East and North Africa (MENA) region, with five IPOs collectively raising $0.93bn. This marks a 76.8 per cent …
Talabat profits soar ahead of planned IPO
Food delivery company Talabat reported a 46 percent increase in third-quarter profits ahead of its planned IPO. Delivery Hero, the Berlin-headquartered parent company of the business, said net income …
UAE Central Bank issues coins to mark 20 years of Supreme Council for Motherhood and Childhood
The Central Bank of the UAE has issued 500 commemorative silver coins to mark the 20th anniversary of the Supreme Council for Motherhood and Childhood. Each coin weighs 40g and bears an image of the …
MENA IPO outlook remains cautiously optimistic in Q3 2024
DOHA: According to the EY MENA IPO Eye Q3 2024 report, listings in the MENA region marked a significant year on year (YoY) increase in value at 76.8 …
Talabat ready to launch following Delivery Hero results: IFR
Valuation is broadly expected at US$13bn–$15bn-equivalent with a deal size of around 10%, though Delivery Hero’s need to deleverage could mean it sells more stock …
DFM sees $10.51mn in major transactions involving Al Ansari and Ajman Bank shares
Dubai Financial Market (DFM) announced the completion of three major transactions involving Al Ansari Financial Services and Ajman Bank, totalling AED 38.6 million across 35 million shares.
Dubai Financial Market records $10.51mln in major trades on Al Ansari, Ajman Bank
ABU DHABI – Dubai Financial Market (DFM) today announced the completion of three major transactions involving Al Ansari Financial Services and Ajman Bank, totaling AED38.6 million across 35 million …
Spinneys Q3 profit rises 25% on UAE and Saudi expansion
UAE supermarket operator Spinneys said net profit attributable rose to AED39.7 million ($10.6 million) in the third quarter, an increase of 25 percent from AED31.8 million a year ago. The profit rise …
Dubai ranks highest in Middle East and North Africa in ‘2024 Global City Index’
DUBAI, 7th November, 2024 (WAM) — Dubai has been ranked the top city in the Middle East and Africa in the ‘Global City Index 2024’ report issued by Brand Finance.
UAE Central Bank announces M-Bills auction on November 11
ABU DHABI, 7th November, 2024 (WAM) — The Central Bank of the UAE (CBUAE) on Thursday announced an auction of Monetary Bills (M-Bills) on 11th November. According to CBUAE data, the auction includes …
Most Gulf Central Banks Follow Fed Lead and Cut Key Interest Rates
The Gulf’s oil and gas exporters generally follow the Fed’s lead on rate moves as most regional currencies are pegged to the U.S. dollar; only the Kuwaiti dinar is pegged to a basket of currencies, …
UAE Central Bank cuts interest rates after US Federal Reserve decision
The UAE Central Bank reduced its benchmark interest rate by 25 basis points, after the US Federal Reserve’s move on Thursday to cut rates to improve business conditions as inflationary pressures ease.