INSEAD Day 4 - 728x90

Markets

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

UAE stocks see US$1.7bn inflow, IHC, Emaar lead

ABU DHABI, UAE- The  UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...

Business

Stock markets diverge before Nvidia results, Federal Reserve minutes

Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...

Market Report
Market Report

Oil prices rise following Red Sea attacks

Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
  • Yemen's Iran-backed Houthi rebels said on Monday that they had attacked two "Israeli-linked" vessels in the Red Sea..
  • Ships must travel through the Red Sea to use the Suez Canal, a key transit route for cargo and oil..
Business

MBC IPO retail subscription begins

MBC Group runs a group of TV and radio channels.
  • The subscription process for the retail tranche of MBC Group will run for five days until December 18.
  • The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.
Business

GCC equity markets record first gain in four months

The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
  • The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar and closely followed by Saudi Arabia and Dubai.
  • This resurgence is a positive sign for the region's markets, which are showing robust growth and diversification efforts, particularly in sectors like Pharma & Biotech.
Business

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...
  • The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from Abu Dhabi’s healthcare sector.
  • Despite a 54 percent annual decrease, Middle East IPOs raise $8.4 billion in 2023, as the MSCI Gulf States Index climbs 8 percent, defying global economic downturns.
Business

ADX set for dynamic growth in 2024 with new listings

"ADX's crucial role in bridging investors with companies, fostering growth opportunities, and reinforcing the UAE and Abu Dhabi's status as...
  • Abu Dhabi Securities Exchange anticipates continued growth and new listings in 2024, says CEO Abdulla Salem Al Nuaimi.
  • 2023 witnessed notable listings like ADNOC Gas and Investcorp Capital, with more scheduled, including the Phoenix Group.
Market Report

Q3 corporate earnings show mixed results in GCC

While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience,...
  • While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.
  • The latest comprehensive analysis by Kamco Invest delves into the intricacies of the GCC's corporate financial performance during a turbulent economic period.
Market Report

Stock markets on hold as investors await key US inflation data

Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...
  • The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
  • With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
Business

Bank of Sharjah joint lead manager for $350m Ittihad sukuk

SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
  • The Sukuk issuance was 1.7 times oversubscribed, with the orderbook reaching approximately US$600 million.
  • “This demonstrates Ittihad’s solid business fundamentals and confirms its strong credit appetite,” CEO of Bank of Sharjah said.
Business

DTC sets IPO offer price range

Final offer price will be fixed through a book-building process
  • The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
  • This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
Business

UAE holds 19% of global sustainable bonds, says Fitch Ratings

DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
  • Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
  • Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.

UAE stocks see US$1.7bn inflow, IHC, Emaar lead

ABU DHABI, UAE- The  UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business

Company News

DFM welcomes listing of Union Coop

ADX lists GFH Financial Group

Lufthansa cuts Q1 losses

Aramco stock rises 4%

Nahdi posts $226million profit

Latest News

Qatar Central Bank issues treasury bills, sukuk worth US$686m

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
Economy

Paris stocks hit record thanks to luxury

Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
Market Report

UAE, KSA lead as tech and energy drive IPOs in GCC

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

China Construction Bank lists $600m green bond in Nasdaq Dubai

DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC...
  • The total value of bonds listed on Nasdaq Dubai by CCB, comprising the issuances by Hong Kong and Dubai branches, stands at $2.45 billion.
  • The cumulative value of outstanding debt from Chinese issuers on Nasdaq Dubai stands at US$11.95 billion through 22 issuances.
Business

Lunate Capital launches Shariah-compliant ETF tracking Indian equities

ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
  • The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
  • The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Business

FAB issues first Sukuk globally in 2024

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
  • The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
  • The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.