The United Arab Emirates’ national oil company ADNOC plans to raise $2 billion or more by listing its natural gas business in what could the largest initial public offering so far this year. The …
ADNOC Gas will be UAE’s first IPO of 2023, dividend set at a substantial $3.25b
Image Credit: Shutterstock Dubai: UAE’s first IPO of the year has been announced, with ADNOC Gas set to offer more than 3 billion of its shares and list on Abu Dhabi Securities Exchange (ADX).
UAE’s UBF, Azerbaijan Banks Association sign MoU to boost sectoral cooperation
The UAE Banks Federation (UBF) has signed an MoU with the Azerbaijan Banks Association (ABA) to enhance cooperation and exchange of experiences, and promote the growth of the financial and banking …
Gulf bourses mixed as Saudi stocks fall, Dubai gains
Saudi Arabia’s stock market was the worst performer among Gulf bourses that were mixed on Monday amid worries of rate hikes by the U.S. Federal Reserve.
Dubai in Talks to Attract 50 Hedge Funds to Mideast Finance Hub
Dubai’s financial center is in talks with more than 50 hedge funds about setting up in the Middle East business hub after attracting industry heavyweights such as Millennium Management and ExodusPoint …
Dubai fintech growth takes DIFC to record AED1bn year
Dubai International Financial Centre has introduced more than 1,000 new companies and saw revenues of of over AED1bn for first time Dubai fintech growth takes DIFC to record AED1bn year DIFC, DIFC …
Al Maryah Community Bank opens its Smart Banking Hub in ADNOC Abu Dhabi
Al Maryah Community Bank, UAE’s first fully integrated Digital Bank offers an omnichannel experience to individual consumers and small businesses …
Mashreq brings social dimension to banking with launch of Neo Groups
Mashreq, one of the leading financial institutions in the Middle East and Africa region, has introduced Neo Groups, …
Dubai DIFC’s 2022 revenue tops $272mln for first time
The number of active companies in the financial freezone is now 4,377, up 20% year-on-year, a Dubai Media Office statement said on Monday. In 2022, DIFC’s combined revenue grew 18% to over AED 1 …
UAE’s defence conglomerate Edge presents 11 new autonomous products at Idex 2023
Defence conglomerate Edge revealed a line-up of 11 new unmanned and autonomous products and systems during the opening day of the International Defence Exhibition and Conference (Idex 2023), in line …
Global consultancy Synpulse’s new Dubai office to serve as Middle East hub
Global financial services consultancy Synpulse has opened its office in Dubai to provide onshore support to its growing number of clients and serve as a hub for the Middle East. Dubai’s goal to become …
HNWIs inflow to help boost UAE financial wealth to $1trln by 2026
UAE has emerged as an attractive destination for HNWIs following its successful strategy against the Covid-19 pandemic, latest data shows …
UAE finance sector stakeholders explore latest financial reporting standards and market trends at Deloitte event
February 2023: Deloitte hosted an event at the Ritz Carlton DIFC, to discuss “IFRS updates and emerging trends in the United Arab Emirates”. The event was attended by key stakeholders, including …
UAE diplomacy guides response to Syrian, Palestinian crises
UAE steps up on Syria. On Tuesday UAE President Sheikh Mohammed bin Zayed Al Nahyan (MBZ) announced $100 million in aid to Turkey and Syria, setting the bar for international assi …
South Africa’s chief climate finance negotiator quits, takes on UAE COP 28 role
Zaheer Fakir, South Africa’s chief for climate talks, has resigned to take up a new role as Senior Advisor to United Arab Emirates’ COP28 team. This will now be a vital position to fill as South …
LOOK: 5 most luxurious hotels in Dubai worth every single penny
Luxury comes at a cost. So when it comes to these luxury stays, how much are you willing to pay for the best of the best?
U.S. crypto crackdown boosts appeal of friendlier overseas hubs
A spate of crypto probes in the U.S. is prompting battered digital-asset firms to look toward financial hubs overseas, clouding the country’s position as a cornerstone of the industry.