JetBlue, Spirit Airlines cancel merger
Earlier, a federal judge ruled it violated US antitrust law.
Apple tops $3trn in market value
Business
BMW to put in $218m in S Africa
Business
H&M shares up
Business
Business
Apicorp green bonds fetch $750m
Apicorp is a multilateral development financial institution.
- The five-year benchmark issuance was the first green bond in the Mena region issued by an energy-focused investment institution
- It was nearly three times oversubscribed, garnering $2.2 billion in orders from more than 80 investors
Geostrategy
Google lets users factor climate change into life
New features unveiled on Wednesday provide users with ways to help in the effort, whether it be driving routes that...
- Artificial Intelligence used in Google's free Maps service in the US shows people fuel-efficient routes.
- CO2 emission information is being added to a flights service for booking travel by air.
Business
Fertiglobe plans IPO in Abu Dhabi
Fertiglobe is a fertilizer partnership of Adnoc and OCI.
- This offering is open to UAE citizens and residents, as well as domestic and international institutional investors
- The offer will open on October 13, subject to regulatory approvals and other relevant considerations
Business
Outdoor ad firm Al Arabiya announces IPO
The company expects to sell 30 percent of its shares in the offering.
- The IPO is expected from Oct. 22 to Oct. 26 and a book-building process will determine offer price per share.
- In June, the Capital Market Authority had approved the company's request for the IPO.
Business
ADQ to buy stake in IHC subsidiary
Abu Dhabi-based firm will acquire Eltizam Asset Management for AED111.6 million.
- IHC has entered into a strategic partnership with ADQ to sell a 50% stake in its subsidiary
- Eltizam offers an integrated suite of strategic management and real estate services
Business
Creative Zone expands into Qatar
The CZ is one of the top firms in the United Arab Emirates.
- The CZ is one of the top firms in the United Arab Emirates
- Hyundai, LG are among some of its clients
Business
Galaxy Racer eyes Pakistan market
The UAE-based Esports company has over 400 million subscribers.
- The Esports company has over 400 million subscribers worldwide
- The company is aiming for a Nasdaq listing in the next three years
Business
Anaam land sale nets $22.6m
The transaction will be reflected on Anaam’s Q3 financial results.
- The deal has been inked with the buyer Khaled Mustafa Mohamed Monem
- It includes the sale of all equipment, machinery, buildings, and cars
Business
EDB to push Ajman growth
The EDB-Ajman MoU is in line with the Make it in the Emirates Campaign.
- Under the terms of the agreement, EDB will support SMEs registered at Ajman Free Zone, in line with its applicable policies and procedures
- In addition, the companies operating in the free zone will be given access to the bank’s key programs, financing solutions, and other facilities
Business
ABHGA readies $13bn investment
This agreement can be considered the start for several projects.
- This agreement aims at increasing the level of cooperation between the public and private sectors to achieve the objectives of Vision 2030
- The areas of cooperation between ABHGA and NIDLP, subject to this agreement, includes establishing a joint framework
JetBlue, Spirit Airlines cancel merger
Earlier, a federal judge ruled it violated US antitrust law.
Company News
Apple tops $3trn in market value
Business
BMW to put in $218m in S Africa
Business
H&M shares up
Business
Latest News
Lordstown sues Foxconn
Business
Aquaterra gets UAE contract
Business
SPARK, Hutchinson Ports ink pact
Business
Vietnam Airlines, Boeing ink $7.8bn pact
The deal is likely to support more than 30,000 jobs in the US.
Business
Investcorp sells stake in Safari
This was Investcorp's fourth exit in India in just a few years.
Business
Most Read
Business
Aldar Estates buys FAB Properties
Aldar Estates will benefit from a stable growth pipeline.
- The transaction will see Aldar Estates integrate a property management portfolio of 22,000 residential units across 600 properties.
- The platform will now comprise 157,000 residential units under management, prime retail, and commercial spaces.
Business
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.
- Care said the facility comprises SAR 100m revolving loan to be renewed periodically, and a SAR 250m long-term loan for a period of 10 years with a grace period of one year.
- The facility will be used to finance the company’s working capital requirements and support its strategy via expansion and acquisitions.
Business
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.
- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF, expects to raise more than $1 billion.
- The offer will comprise 338.7 million ordinary shares-- 101.62 million shares by ADES, the PIF and Zamil Investment Company, and 237.10 million new shares through capital hike.