DUBAI: The Dubai government is selling a 24.99% stake in Parkin, which oversees public parking operations in the emirate, through an initial public offering in the emirate’s first privatisation deal …
UAE, home to the financial hub of Dubai, dropped from financial crime watch list
T he United Arab Emirates, home to the financial hub of Dubai, has been dropped from a global watchdog’s list of countries at risk of illicit money flows, a win for the nation t …
It’s official: Parkin will be UAE’s first IPO of 2024
Parkin — which was spun out of the Dubai Roads and Transport Authority (RTA) late last year — is set to float 24.99 per cent of its shares …
Dubai’s Cotu Ventures to invest $54m in early stage Mena start-ups
Cotu Ventures, a Dubai-based venture capital fund, has launched its first funding platform that will invest in early stage start-ups in the Middle East and North Africa, as it aims to boost one of the …
Emirates Development Bank’s contribution to Industrial GDP grows 80% in 2023, totaling AED 4.3 bn
Emirates Development Bank (‘EDB’ or the ‘Bank), the key financial engine of economic development and industrial advancement in the UAE, has unveiled its …
Al Maryah Community Bank completes the first successful financial transaction on the new local “Jaywan” Debit Card
Customers can simply register with their Emirates ID and issue money transfers to and from other UAE banks via IBAN. Mohammed Wassim Khayata, CEO of Mbank, commented: “Al Maryah Community Bank is …
Dubai’s Parkin IPO to open March 5 by offering 24.99% in UAE’s first stock market float of 2024
Retail investors to get 10% of stock float, and minimum of 2,000 shares Dubai: The UAE’s first IPO of 2024 will be from Parkin, the Dubai headquartered parking space operator, which is floating 24.99 …
Daybreak Podcast: Shein Mulls Relocating IPO to London
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world …
Abu Dhabi’s Multiply Buys Media Firm in Preparation for Unit IPO
Multiply Group has acquired an advertising firm based in the United Arab Emirates as it prepares for an initial public offering for its media business, according to its chief executive officer.
Indian philanthropist donates Rs 2.25 Cr to free 900 prisoners in the UAE
He gets their debt paid and donates funds for their air tickets to fly back to their home country. In a pre-Ramzan gesture, a UAE-based Indian businessman and philanthropist has donated 1 million …
Buying property in the UAE? Ask these crucial mortgage questions before you sign!
Make informed financial decisions by asking your bank these 12 mortgage questions. Dubai: Are you dreaming of owning a home in the UAE or investing in its booming real estate market? A mortgage can …
Major UAE banks eye ‘stable’ 2024 after year of high returns
Profitability of the top 10 lenders jumped 28.8 per cent year-on-year for 2023 on the back of a rising interest rate scenario …
Dubai Islamic Bank launches $1bln 5-yr sustainable sukuk
The sukuk was launched at 95 basis points over U.S. Treasuries, tighter than the initial guidance of 125 bps given in a document seen earlier in the day …
First Abu Dhabi Bank launches MENASSA, a platform for MENA-based asset managers
MENASSA, the Arabic word for “platform”, incorporates a suite of world-class modular services delivered from a single platform …
EDB’s contribution to UAE industrial economy soars 80% to $1.17bn in 2023
Emirates Development Bank, the state-owned lender that provides financing for the UAE’s priority sectors, has said that its contribution to the country’s industrial gross domestic product soared to …
Magnati and Biz2X announce embedded finance partnership in UAE
Abu Dhabi: Magnati, a leading payment solution provider in the Middle East, has partnered with Biz2X, a global fintech leader in lending platform technology, to introduce one of the UAE’s largest …
UAE-listed banks report 54% profit surge to $21bln in 2023
The Central Bank of the UAE increased the policy rates by 1.0% last year to 5.4% at par with the US Fed rates, resulting in higher net interest income for all banks, the firm said in its latest UAE …