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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 mainly on stocks in the real estate, financial and banking sectors. The weekly liquidity was distributed as follows: AED4.57 billion in the Abu Dhabi market and about AED1.9 billion in...
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ADNOC Gas increases IPO size to $2.5 billion on high investor demand
ADNOC Gas said that ADNOC will now offer 3.83 billion shares, equivalent to approximately 5 percent of ADNOC's total issued share capital. Previously, the offering size was $2 billion or 3.07 billion shares. The final offer price is expected to be announced on March 3. -
Eni posts record profit in 2022
Sales jumped 73 percent to 132.2 billion euros. -
More firms set for listing on Qatar Stock Exchange
"The new listings will take place between March and April. Another group of companies will be listed in the venture market, depending on the companies' submission of their requests and fulfillment of all procedures and requirements, and thus it has the right to move to the main market," he adds. -
Boursa Kuwait posts profit
The stock exchange's net profit jumped 13% to $59m in 2022. -
Sanofi 2022 net profit at $7.3bn
Dupixent drug has been a huge success for the firm. -
India’s Adani Group stocks loses US$45bn over fraud claims
Continuing with this week's losses to $45 billion after a US investment firm claimed it had committed "brazen" corporate fraud, shares in the business empire of Asia's richest man Gautam Adani fell down on Friday. He began the week as the world's third-richest man but now has dropped down the... -
Most Asian markets rise on optimism
Inflation slows and China reopens to the world, give a boost to markets. -
MEEZA to offer 50% of its shares
It will be Qatar's first firm to use book building for IPO. -
Dubai court authorizes jailed Brit’s fraud extradition, say lawyers
DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion euro tax fraud in Denmark, the suspect's defense team said, ahead of a further ruling by a higher court. Hedge fund trader Sanjay Shah was arrested in Dubai in June,... -
Gulf markets fluctuate due to geopolitics, oil prices
Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five days. Dubai's main index fell three days out of five this week. -
Tabreed ups foreign ownership limit
The limit will increase from 49% to 100%. -
Nike shares soar as profits top estimates
Profits for the Q1 came in at $1.3 billion. -
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from its Initial Public Offering (IPO), the company said. The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares,... -
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law No. 7 of 1999 for pension and social security, said the General Pension and Social Security Authority (GPSSA) on Thursday. The authority stressed that shares are distributed to the daughter,... -
PIF sells 10 percent stake in Tadawul Group at $51 per share
The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take place in the Saudi market and the GCC region. It sold 12 million shares and its remaining stake is equivalent to 72 million shares or 60 percent of the Company's... -
PIF to sell Tadawul stake
It will sell 10% of its stake, amounting to 12m shares. -
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing of between AED2.962 billion and AED3 billion. It plans to sell up to 254.2 million shares, or about a 25.32 percent stake. -
Taaleem to raise US$204.21 million in IPO
Dubai school operator plans to expand its network. -
GM posts Q3 profit of US$3.3b
US automaker was bolstered by strong vehicle pricing. -
Dlala Holding to resume trading
The authorized capital of the company is US$78 million. -
Ericsson Q3 profit at $480m
Firm is making 'pricing adjustments' as inflation soars. -
American Airlines posts Q3 profit of US$483m
American Airlines third quarter revenues rose to $13.5 billion. -
DEWA shares drop 2.8%
The decline came amid reports of economic slowdown. -
Saudi Top to list on Nomu
The company will list 880,000 ordinary shares via an IPO. -
Al Awali to raise US$133m
The Saudi developer will offer 20% of its shares on Nomu. -
US banks report solid results, warn of rising recession risk
Large US banks reported a round of solid quarterly profits, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy. JPMorgan Chase set aside US$808 million in case of bad loans, while Citigroup reserved for $370 million in potential losses... -
Infosys Q2 profit at US$731.4m
The firm approved a $1 billion share buyback after Q2 result. -
Tadawul market cap vaults
Its value is $2.8trn in the first nine months of the year. -
APICO to list on Nomu
The Arabian Plastic will offer 1m shares at $7.19 per share. -
Salik ups number of IPO shares
The subscription period for the IPO remains unchanged. -
UAE rejects Denmark’s extradition request for fraud accused Briton
Dubai, UAE - A Dubai court on Monday rejected Denmark's extradition request for a Briton accused of robbing the Danish state of 1.7 billion euros ($1.72bn) through tax fraud, one of his lawyers told AFP. Hedge fund trader Sanjay Shah was arrested in June by Dubai police on Denmark's request.... -
Saudi’s investment funds’ assets fall by 11 percent in Q2
Investment funds hold both local and foreign assets. -
BinDawood’s H1 profit tumbles
Largest Saudi retailer posts a 31% dip in H1 profit to $28.80m. -
Al Akaria posts profit in H1
The developer's profit rose to $4.3m, after last year's loss. -
APICO posts 29% profit increase
It will proceed with an IPO of 20 percent of its capital on Nomu. -
Conflicts, inflation keep GCC markets on their toes
Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the future is not comforting for the rest of the year, says an expert. -
QFB completes rights issue
It issued 420,000,000 shares in order to raise capital of $307m. -
Elon Musk sells about $7bn worth of Tesla shares
Amid a high-stakes court battle with Twitter over a $44 billion buyout deal, Elon Musk has sold nearly $7 billion worth of Tesla shares, according to legal filings published Tuesday. -
Bupa Arabia’s profit dips by 16%
Its stock fell after it posted a drop in profit to $114m in H1. -
Boeing shares surge
The company is all set to resume 787 jet production. -
‘Crypto winter’ fails to dampen confidence of investors
Even as the interest in crypto remains more or less steady, and investors are still keen to buy in, it’s crucial that anyone looking to invest their hard-earned capital into crypto - particularly retail and first timers - exercise caution and look for a handful things before plunging into the... -
SAIB shares vault more than 2%
The stock rose after it declared cash dividends of $80 million. -
American Airlines registers Q2 profit
Profits were $476 million compared with just $19 million in the year-ago period. -
Jarir reports drop in H1 profit
The profit declined to $114m with its stock sliding too. -
Twitter’s stock tanks as Musk trashes lawsuit threat
Twitter shares plunged Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a $44 billion buyout of the social media giant. -
Arabian Plastic to list on Nomu
The company has won approval for an IPO of 1m shares. -
Hong Kong leads rally across Asian markets
Shares rose more than three percent in Hong Kong on Monday morning, in line with a rally across Asian markets, with weak economic data easing concerns over central bank interest rate hikes. The gains came on the back of a rally in tech giants including Alibaba and JD.com. -
Tecom lists 12.5% shares on DFM
Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share. -
Saudi telco to raise capital by 150%
Bonus shares to be granted by capitalizing $7.9 bn from retained earnings. -
ADNOC’s Borouge IPO its largest ever, oversubscribed 42 times
ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge, which is their petrochemicals joint venture, on the Abu Dhabi Securities Exchange (ADX). The offering of 3,005,769,158 ordinary shares (Offer Shares), equivalent to 10 percent of total issued share capital,...