UAE Economy Minister Abdullah bin Touq Al Marri speaks to … A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock …
Oman energy company OQ’s drilling unit may raise as much as $244m through IPO
Oman’s state energy company OQ could raise as much as 94 million rials ($244 million) from the initial public offering of its drilling unit, Abraj Energy Services, and has brought in Saudi Arabia’s …
UAE’s Biggest Power Firm Taqa Plans Green Bonds and M&A Deals
Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The largest power producer in the United Arab Emirates plans to sell bonds …
Mashreq named UAE Market Leader by 2023 Euromoney Trade Finance Survey
Mashreq also ranks number one for services in Middle East, Africa, Egypt, Bahrain, Kuwait, Qatar, and Bangladesh The Bank earns nine accolades in total Dubai, UAE: Mashreq, one of the leading …
Oman’s OQ plans to raise up to $244 mln from oil and gas drilling unit Abraj IPO
DUBAI, Feb 14 (Reuters) – Oman’s state energy company OQ planned to raise as much as $244 million from an initial public offering (IPO) of its oil and gas drilling business Abraj Energy Services, the …
In post-IPO results, F&B giant Americana posts healthy $259.2m profit, revenue at $2.37b
Image Credit: Virendra Saklani/Gulf News Dubai: The Middle East’s biggest restaurant operator Americana helped itself to a healthy 27.1 per cent profit growth for 2022, to $259.2 million against the …
Dubai Islamic Bank raises $1bn from sustainable sukuk issuance
“We hope the success of our offering will encourage other issuers from the UAE to follow suit in this format.” Sustainable finance deals fund environment, social and governance-focused projects that …
Dubai Islamic Bank successfully prices $1bn sustainable sukuk, its second so far
Dubai Islamic Bank (DIB) has successfully priced its second sustainable sukuk – a $1bn 5.5-year senior issue with a profit rate of 4.80 per cent per annum, representing a spread of 102.4 basis points …
UAE central bank to issue CBDC, promote digital asset growth
The Central Bank of the United Arab Emirates (CBUAE … The FIT program announcement followed Dubai’s virtual asset regulatory authority releasing new guides on virtual asset activities for projects …
Dubai Islamic Bank prices $1 billion sustainable sukuk
Dubai Islamic Bank (DIB) has successfully priced its second sustainable sukuk – a landmark $1 billion 5.5-year senior issue with a profit rate of 4.80 per cent per annum, representing a spread of 102.
Empower’s 2022 net income climbs 7% on revenue boost
Shamal Holding and the Abu Dhabi Pension Fund were cornerstone investors in the IPO, with a total commitment of up to Dh335 million. Empower was established by royal decree as a joint venture in 2003 …
DEWA records higher net profits in 2022; special dividends unveiled
Dubai Electricity and Water Authority (DEWA) announced consolidated net profits worth AED 7.96 billion in 2022, an annual increase of 22% from AED 6.55 billion. The earnings per share (EPS) stood at …
Dubai boom sees Russian cash, high rents and reborn projects
For the first time since a 2009 financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects now show signs of life DUBAI, United Arab Emirates — Fourteen years …
UAE central bank to issue CBDC as part of its financial transformation program
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a …
Central Bank of UAE launches Financial Infrastructure Transformation Programme
The Central Bank of the UAE has launched the Financial Infrastructure Transformation Programme (FIT programme) to expedite digital transformation across the country’s financial services sector. The …
Emirates NBD Bank readies Kangaroo bond sale
Gulf banking giant Emirates NBD has mandated four banks to round up investors for a new 10-year Kangaroo note, after running a set of informal meetings with local bond managers just before Christmas …
Dubai Ruler meets with finance ministers, central bank governors participating in Arab Fiscal Forum
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today met with Arab ministers, governo..