NBK sells alternative investment unit to Janus Henderson

Janus Henderson buys alternative investment unit of Kuwait’s NBK

The team at NBK Capital Partners will join the $353bn asset manager as the firm’s new emerging markets private capital division

Fakeeh Care Group sets IPO price range, seeks to raise $763m

Saudi Arabia’s Fakeeh Care Group sets IPO price range, seeks to raise $763m

The hospital group is offering 49.8 million shares, equivalent to 21.47 per cent of the company’s total issued share capital

Dubai-Financial-Market releases upgraded ivestor app image Dubai Media Office

Dubai Financial Market releases upgraded iVestor app

The iVestor App allows direct subscription to both public and private offerings, enhancing investment accessibility in the region

Abu Dhabi's ADQ lists debut $2.5bn bond on London Stock Exchange

Abu Dhabi’s ADQ lists debut $2.5bn bond on London Stock Exchange

Leveraging favourable market conditions and investor appetite, ADQ’s bond issuance garnered significant interest

DFM unveils initial private offerings platform ARENA

DFM unveils initial private offerings platform ARENA

The new platform is a regulated alternative to conventional financing routes and helps private companies access capital markets

CBUAE, HKMA partnership

UAE interest rates remain unchanged amid Fed rate decision

The CBUAE traditionally moves lockstep with the US Fed amid the UAE having pegged its currency to the US dollar at a rate of Dhs3.67 to $1

Spinneys’ $375m IPO draws orders worth $19bn

Supermarket chain Spinneys’ $375m IPO draws orders worth $19bn

The company priced its IPO at the top of the previously announced range, selling its shares at Dhs1.53 per share to raise $375m (Dhs1.38bn)

BlackRock to launch PIF-backed Saudi investment platform

BlackRock to launch PIF-backed Saudi investment platform

The investment platform seeks to accelerate the growth of capital markets in Saudi Arabia

UAE central bank’s foreign assets up 2% in February

UAE central bank’s foreign assets up Dhs203bn in February 2024

The increase in foreign asset volume is attributed to the rise in current account balances and deposits with banks abroad

Spinneys - IPO - DFM

Spinneys increases retail share offering for upcoming IPO

The supermarket chain aims to raise up to Dhs1.38bn($375m) from its IPO

dr saeeda jaffar-visa

Exclusive: Visa’s Dr Saeeda Jaffar on the new ‘Instalments’ solution transforming retail in the UAE

Consumers can activate instalment payments at checkout based on their eligibility, whether at point-of-service terminals or eCommerce platforms

flynas takes delivery of 3 A320neo aircraft

Saudi budget airline flynas confirms IPO this year: Reports

flynas disclosed its financial performance this month, boasting a 32 per cent revenue surge to SAR6.3bn ($1.68bn), in 2023

Bank of Sharjah leads $300m sukuk issuance for Kuwait International Bank

The transaction for what is dubbed a tier 1 sukuk marks the first US dollar AT1 issuance from Kuwait since 2021

investcorp golden horizon

Investcorp announces $1bn GCC fund along with China’s CIC

This initiative, announced at Investcorp’s China-GCC Investment and Business Cooperation Summit, aims to attract institutional and private investors from the GCC, along with CIC

Saudi Arabia’s Fakeeh Care Group to sell 21.47% stake in Riyadh IPO

Saudi Arabia’s Fakeeh Care Group to sell 21.47% stake in Riyadh IPO

The healthcare group plans to offer 30 million new shares and 19.8 million existing shares to investors – equivalent to 21.47 per cent of the company’s paid-up capital

Egypt-ras al-hekma-UN-HABITAT

Egypt approves establishing special free zone in Ras al-Hekma

Egypt has moved ahead with administrative realignment of the region after the country signed a $35bn FDI deal with the UAE’s ADQ earlier this year

Miahona to float IPO on Saudi Exchange GettyImages-1179702144-e1705645076672

Saudi IPO: Miahona Company to list shares on Tadawul

Miahona was established as one of the first proponents of the public-private partnership (PPP) model in the kingdom

ADQ, QIA to boost tech driven companies and economy through the Jasoor Fund

UAE-Oman: ADQ, QIA launch $180m tech-focused fund

In 2022, ADQ and OIA identified investment opportunities worth over $bn in key sectors of Oman’s economy

ADQ acquires key stake in Australia's Plenary Group

Abu Dhabi’s ADQ acquires key stake in Australia’s Plenary Group

Set up in 2004, Plenary has a portfolio of 21 assets under management valued at over $25bn across Australia and the Middle East

banking

Revolutionising banking-as-a-service: BKN301 on bridging financial markets across Europe and MENA

Stiven Muccioli’s insights shed light on BKN301’s mission to revolutionise banking services, underscoring the importance of innovation, adaptability, and cybersecurity in the ever-evolving fintech landscape

Abu Dhabi

Abu Dhabi returns to debt markets with $5bn bond sale

The emirate is rated “Aa2” by Moody’s and “AA” by both S&P and Fitch Ratings

spinneys IPO to see 900 million shares listed image courtesy spinneys

Spinneys sets IPO price range, to make DFM debut on May 9

The subscription period for UAE retail investors will run from April 23-29, and for professional investors until April 30

ADCB’s brand value soars to Dhs10.5bn in 2023

UAE bank ADCB’s brand value soars to Dhs10.5bn in 2023

The bank moved up four places to rank 109th in Brand Finance’s top 500 banking brands globally

Egypt’s central bank committed to a flexible exchange rate

Egypt committed to flexible exchange rate, central bank deputy says

Egypt allowed its currency to weaken sharply on March 6 after keeping it fixed to the dollar for nearly a year

ADIB, Mubadala deal

Shares in Bank Syariah Indonesia jump as ADIB denies buy-in talks

The Indonesian bank’s share price rose on Thursday in trade despite denials from ADIB that it is in talks to acquire a 15 per cent stake

NEOM reportedly considers debut riyal bond sale to fund projects

NEOM reportedly considers debut riyal bond sale to fund projects

The company has appointed banks including HSBC and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the debt sale

car insurance-home-insurance-rain

How to claim insurance due to rain damage: Understanding ‘force majeure’ clause

In light of weather-related damage caused to property and vehicles, it is important to understand the tools available to claim insurance

ADIB BANK

ADIB denies it’s in talks to buy $1.1bn stake in Indonesian bank

ADIB has denied that it’s in talks to buy a minority stake in Indonesia’s top Islamic lender

UAE's FTA introduces Taxpayer Charter, lists rights, obligations image FTA

UAE’s FTA introduces Taxpayer Charter, lists rights, obligations

The introduction of the Taxpayer Charter is part of the FTA’s broader efforts to enhance taxpayer awareness about the UAE tax system

Siobhan Bryon of Finastra on the rise of digital and personalised services in the regional banking sector Image Supplied

Digital, personalised services are impacting regional banking

AI can support more seamless experiences with BaaS and embedded finance, such as faster and more accurate credit decisions and fraud detection