SPAC is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of …
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UAE Central Bank maintains base rate at 15 basis points after no change from US Fed
Dubai: The UAE Central Bank has maintained the base rate on the overnight deposit facility (ODF) at 15 basis points. This decision was taken following the US Federal Reserve’s announcement on …
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Dubai ride-hailing unicorn to merge with all-women SPAC to list in the US
Swvl, a Dubai-based ride-hailing company, has announced its plan to go public in the US through a merger deal with a special purpose acquisition company (SPAC), Queen’s Gambit Growth Capital. The …
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How Dubai-based GymNation is set to disrupt the regional fitness industry
Before GymNation, I was involved in private equity in the UK and had previously invested in UK-based budget operator Xercise4Less. The idea for GymNation came about when I relocated to Dubai to work …
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UAE Central Bank maintains Base Rate at 15 basis points
The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 15 basis points, effective from today. This decision was taken following …
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India beauty-focussed portal Nykaa seeks $4b valuation for IPO
Mumbai: India’s Nykaa is preparing to file for an initial public offering (IPO) that could value the startup at more than $4 billion. The country’s top e-commerce company for beauty, founded by …
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Dubai Islamic Bank improves profitability, total income up 5%
Second largest Islamic bank in the world has group assets in excess of $80bn and a market capitalisation of $9bn Dubai Islamic Bank has reported improved profitability with total income increasing by …
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Dubai to host international conference on public-private partnership in October
Dubai: Dubai’s Department of Finance (DOF) announced it will organise a conference on public-private partnership on October 10 and 11 under the umbrella of Expo 2020 Dubai. Titled ‘Dubai International …
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SWVL eyes IPO via SPAC
UAE-based mass transportation company SWVL, initially founded in Egypt, is reportedly planning to go public via a merger with a …
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Commercial Bank of Dubai’s H1 profit up 27.5 per cent year on year
Dubai: Commercial Bank of Dubai (CBD) has delivered a net profit of Dh676 million for the first half of 2021, up 27.5 per cent against the first half of 2020. Improved operating performance coupled …
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Will Zomato continue to impress following glowing IPO?
Zomato Ltd (NSE: ZOMATO) share price slips to 125.80 rupees a share on Wednesday () It clocked a 65.8% jump from its IPO price when it went public last week; Some anal …
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The Infinity Group: Alternative Financing Options Spark Opportunities for African Businesses
Companies in Africa are increasingly turning to alternative methods of securing financing to more quickly grow their operations as traditional commercial capital has …
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Interview: UAE steel industry prepares for Q4 slowdown amid Dubai Expo – Conares CEO
Faced with soft demand and an oversupplied market, the UAE steel industry is hard pressed to reach its pre-pandemic numbers this year, the CEO of Conares, the country’s second largest steel …
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More UAE companies now hiring Emiratis, say experts
More private sector companies in the UAE are looking to hire talented Emiratis, particularly in technology, finance, retail, auto, healthcare an …
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“Aafaq Islamic Finance” Gets Overwhelming Response At Promotional Platform During Eid Al-adha
Aafaq Islamic Finance’, a leading institution in the financial sector that provides financial products and services compliant with the provisions of Is …
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Dubai Islamic Bank posts H1 net Dh1.86 billion
Decline in costs and impairments continue to support bank’s profitability Dubai: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE reported a net profit of Dh1.86 billion for the first …
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Dubai Islamic Bank First Half 2021 Group Financial Results
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE and the second largest Islamic bank in the world, today announced its results for the …
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