Aramco said it is seeking to raise as much as $25.6bn by selling a 1.5 per cent stake
Author: Mary Sophia
UAE, Egypt to set up $20bn joint investment platform
The investment platform will be run through Egypt’s newly established sovereign wealth fund and Abu Dhabi Development Holding
Most UAE companies do not reserve funds for end-of-service gratuities – report
Of the companies that don’t set aside assets, 78 per cent don’t share such information with employees
Morgan Stanley is latest bank to offer $1 trillion Saudi Aramco spread
Among 16 banks that offered a valuation, the range in estimates ran from $1.1 trillion at the bottom right up to $2.5 trillion
European bank LLB expands operations in Dubai, to hire more staff
Liechtensteinische Landesbank now also offers financial advisory services in the region
Bank of America hires first investment bank head in Saudi
Bank of America is one of more than 20 institutions working on Saudi Aramco’s IPO
Wamda invests in UAE-based fintech to offer cash-on-delivery alternative
Up to 62 per cent of the region’s online consumers continue to prefer the cash-on-delivery (COD) option
Aramco taps Saudi billionaires including Olayans, Prince Alwaleed for major IPO orders
Saudi is also leaning on friendly governments to drum up demand for the listing
Kuwait, Saudi stocks climb after MSCI review
Investors were also perusing the prospectus of Saudi Aramco’s initial public offering, which will take place in Riyadh
Lebanon parliament to discuss graft law this week as demanded by protestors
President Michel Aoun said lawmakers will meet November 12 to consider lifting the wide immunity granted to government officials and parliamentarians
Emiratis to secure 40% banking jobs in UAE
Currently, Emiratis constitute 26.1 per cent of the UAE’s banking workforce
Kuwait’s stock exchange IPO will be oversubscribed, says CEO
The sale of half the exchange to local citizens began last month and will end on December 1
UAE economy to gain impetus from Expo 2020, government policies – IMF
IMF hails steps for UAE’s SME strategy, lists sustained growth and diversified economy as key priorities
Dubai’s DFM posts 45% rise in net profit for Q3 2019
Revenues in the third quarter reached Dhs78.1m, compared to Dhs69.5m last year
New York’s Modus Capital launches $75m MENA fund targeting startups, SMEs
The fund will target early and growth stage firms across the region
Saudi Aramco may be worth $1.5 trillion or less, some IPO banks say
The IPO process officially started Sunday, with the company filling a so-called intention to float document
UAE plans to loosen cap on bank lending to property industry
UAE banks can currently lend as much as 20 per cent of customer deposits to the property industry
Key facts from Saudi Aramco’s intention to float in Riyadh
The final offer price, number of shares to be sold and percentage of the shares to be sold is yet to be determined
World’s most profitable company gets approval to list IPO on Saudi stock market
Aramco’s shares are likely to start trading in December
Saudi Crown Prince gives ‘green light’ to Aramco IPO, accepts lower valuation
Aramco is also considering boosting next year’s dividend to $80bn to win over investors
Saudi Aramco IPO to come at ‘right time’ and when Crown Prince decides
The initial public offering will happen soon, says energy minister
Kuwait, Bahrain wealth funds to consider investing in Saudi Aramco IPO
Saudi Aramco is working toward an IPO that may raise $40bn
Saudi’s BinDawood picks JPMorgan, Goldman for IPO
The group operates the BinDawood and Danube supermarkets and hypermarkets
Abu Dhabi billionaire BR Shetty mulling IPO of pharmaceuticals business
Work on the potential share sale in Neopharma is at an initial stage
World leaders and business elites to attend Saudi Arabia’s Future Investment Initiative
Thiam to Fink – the who’s who of finance head to the global investment forum slated to be held this week
Dubai’s Emirates NBD appoints new CFO, reports 63% rise in nine-month profit
The bank had announced in April that the outgoing CFO Surya Subramanian will return to Singapore to pursue family interests
Abu Dhabi lender ADCB to exit operations in Qatar, Kuwait
The bank completed a three-way merger in May
HSBC to embark on job cuts across the MENA region in November
The global banking and markets and commercial banking units may bear the brunt of the reductions, sources said
