Defying global trend, UAE leads Middle East IPO surge
The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from...
Business
Business
Adnoc Drilling to offer 7.5% stake in IPO
Adnoc Drilling is the largest national drilling company in the Middle East by rig fleet size.
- Adnoc retains the right to increase the size of the offering at any time before pricing of the IPO
- It will continue to own a majority of Adnoc Drilling’s share capital after the IPO
Science
Boursa Kuwait launches ESG reporting guide
Through it, the bourse aims to drive the embrace of Corporate Sustainability in the Kuwaiti capital market.
- The guide will introduce the ESG universe to companies listed on the stock exchange
- It will also highlight the benefits of ESG disclosure and best practices
Interview
Hyperinflation imminent in Lebanon: Nasser Saidi
A crushing economic crisis, a sharp collapse of the local currency and a bankrupt banking sector are adding to the...
- Lebanon's banking sector must reduce the size by at least 50 percent if not more, says senior economist Nasser Saidi
- Lebanon, he says, will take 5–7 years to recover if it agreed to an IMF program within the next three months
Business
True Global Ventures closes blockchain fund at $100m
The TGV 4 Plus fund, which has been oversubscribed, focuses on blockchain firms primarily in late-stage equity funding Series B...
- TGV is funded by 40 partners who contribute 27%, along with a number of entrepreneurs, business angels, family offices and institutional investors
- Many limited partners of True Global Ventures are based in the Middle East
Market Report
Alibaba shares slide after $15 bn ‘prosperity’ pledge
Daniel Zhang, Alibaba chairman, said the group was "eager to do our part to support the realisation of common prosperity"
- Daniel Zhang, Alibaba chairman, said the group was "eager to do our part to support the realisation of common prosperity"
- Chinese authorities have enforced a sweeping regulatory crackdown on the nation's tech sector after years of runaway growth
Business
Saudi Arabia’s ACWA Power plans $1bn IPO
The Saudi utility developer -- half-owned by the the Kingdom's Public Investment Fund, plans to issue 85.3 million shares --...
- Only about 81.2 million shares, representing 11.1 percent of the company, will be offered to the public
- A bidding and book building process for institutions will start on September 15 and end on September 27
Market Report
Gulf, Asian markets hurt amidst concerns about Chinese economy
The sentiment gets a jolt after Chinese regulators gives dressing down to ride-hailing giant Didi Chuxing and ten other car...
- Major stock markets in the Gulf remain weak in line with Asian shares that slide on concerns about Chinese economy after a run of soft data
- Series of measures against Chinese tech firms as well as other sectors including private tuition, property and video games hurt the world markets
Market Report
DFM’s trade count up 161% after minimum trading commission waiver
Total number of trade count on Wednesday’s trading session reached to 6739 transactions, the highest level of daily trade count...
- The DFM General Index gains 13.6 points (0.50 percent), taking its 2021 gains to 17 percent
- The DFM decision to waive minimum trading commission is aimed at promoting retail investors’ participation in the market
Infographics
ADX is the least expensive equity market in MENA
ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the...
- ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the end of 2021
- The cost of execution includes several components and depends on the exchange
Economy
Foreign investment in Saudi markets rose 150% in Q2
The sectors in the country that attracted the most foreign investment were banking, basic items, energy, and communications.
- Saudi Arabia was granted membership of the World Trade Organization in 2005
- This is opened up the country to ever-increasing investments from foreign parties
Company News
Latest News
Gulf markets, except Kuwait and Qatar, end higher
Market Report
Stocks mostly drop as traders track China, US rates
Market Report
Marketwatch: Commodities navigate turbulent waters
Grains sector was on track for its first monthly gain this year, bolstered by a resurgence in corn prices due...
Opinion
Markets get affected as financial turmoil resurfaces
Crude oil has been challenged by the continued loss of risk appetite. The banking crisis has particularly impacted the energy...
Opinion
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
Market Report
Most Read
Reforms help UAE, KSA lead M&A activities in MENA
Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business...
- Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business reforms boost investor confidence in the region
- Rise in oil prices over the past six years, pro-business legislative reforms, and relaxation of government travel restrictions were some other reasons behind strong M&A activities
Economy
US consumer inflation high, Federal Reserve under stress
US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve...
- Between January and February, the consumer price index rose 0.4 percent, slowing from the month prior as well.
- The food index in February remains nearly 10 percent above last year's level, with prices of dining out still high.
Opinion
Marketwatch: Commodities see bumpy start to March
The Chinese government’s desire to avoid making the same mistakes other governments and central banks have made has driven inflation...
- March kicked off with continued and broad weakness after China and the US, the world’s two biggest commodity consuming nations, both delivered price softening news
- Sentiment received a further setback after steep losses in two small US lenders – helping drive the S&P 500 index to a two-month low, a report by Saxo Bank suggests