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Nasdaq Dubai welcomes Mashreq’s $500m Sukuk listing

Nasdaq Dubai welcomed Mashreq’s (“Mashreq” or “the Bank”) debut listing on the exchange with the admission of a $500m Sukuk issued by Mashreq Al Islami Sukuk Company Ltd. Read-How Mashreq is empowering businesses to ‘rise every day’ The trust certificates, due in 2030, were issued under Mashreq’s $2.5bn Trust Certificate Issuance Programme and admitted as […]

Gulf Business
Gulf Business

04 June, 2025

Nasdaq Dubai welcomes Mashreq’s $500m Sukuk listing
Image credit: Getty Images

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Nasdaq Dubai welcomed Mashreq’s (“Mashreq” or “the Bank”) debut listing on the exchange with the admission of a $500m Sukuk issued by Mashreq Al Islami Sukuk Company Ltd.

Read-How Mashreq is empowering businesses to ‘rise every day’

The trust certificates, due in 2030, were issued under Mashreq’s $2.5bn Trust Certificate Issuance Programme and admitted as a secondary listing following strong demand in the primary market, according to a WAM report.

This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai’s continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform.

Celebrating a strategic milestone

Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The ceremonial bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

“This Sukuk listing marks an important step in Mashreq’s commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq’s long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE’s continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets,” said Abdul Aziz Al Ghurair, Chairman of Mashreq.

“Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq’s capital markets journey. This Sukuk issuance not only attracted strong investor interest but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders,” said Ahmed Abdelaal, Group CEO of Mashreq.

Investor confidence and market impact

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “This listing reflects Mashreq’s growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem.”

This landmark Sukuk issuance marked Mashreq’s successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which triggered heightened volatility across global markets. The success of this transaction renewed market participants’ confidence and was followed by a string of issuances, helping to reopen the market for regional issuers.

The transaction attracted significant investor interest, generating an orderbook of $2.9bn—nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03 per cent per annum, reflecting investor confidence in Mashreq’s credit fundamentals. With participation from over 90 global investors across the Middle East, Europe, and Asia, the issuance reaffirms Mashreq’s leadership in Islamic finance and reinforces Dubai’s growing status as a global hub for Sharia-compliant capital markets.

With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached $97.2bn, further strengthening the exchange’s position as one of the world’s largest centers for Islamic fixed income.

The overall value of debt securities listed on Nasdaq Dubai now stands at over $140bn across 163 issuances—a testament to the depth and maturity of the UAE’s capital markets and the growing appeal of Dubai as a gateway for regional and international investment.

Investing in 2025: Gulf Business panel to unpack UAE’s hottest trends

Our next flagship Breakfast Briefing panel event will be hosted on June 25 at the Metropolitan Hotel Dubai

Gareth van Zyl
Gareth van Zyl

04 June, 2025

Investing in 2025: Gulf Business panel to unpack UAE’s hottest trends
Scenes from previous Gulf Business Breakfast Briefings.

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From booming IPO pipelines to surging interest in residence-by-investment schemes, the UAE remains one of the most compelling destinations for capital in 2025.

To decode what’s driving this momentum, Gulf Business will host its next flagship Breakfast Briefing panel event on June 25 at the Metropolitan Hotel Dubai, bringing together industry leaders for a morning of sharp analysis and forward-looking discussion.

Under the theme “UAE’s hottest investment trends: what’s driving growth in 2025”, the event promises a wide-ranging conversation on the forces shaping investor appetite — from shifting global mobility patterns and public listings to the impact of generational wealth transfer and digital disruption in finance.

Set against the backdrop of the UAE’s pro-investment policies and continued economic resilience, the panel will offer insights for both seasoned investors and new entrants looking to gain an edge in the region.

A top-tier speaker lineup

Among the confirmed speakers are:

  • Yasmine Omari, head of wealth planning, Bank of Singapore

  • Yogesh Khairajani, global market strategist, Century Financial

  • Gemma Wild, head of global collaboration, MENA GPB, HSBC

  • Manasvi Ghelani, associate director – customer engagement, Middle East Africa, Frost & Sullivan

  • Muhammed Hassan, capital markets leader, PwC

  • Dave Chaggar, sales director, Capital Club Limited

  • Adel Mardini, CEO, Jetex

  • Rahul Singh, managing director, Thrifty & Dollar Car Rental

  • Claire Vuylsteke, director, Orbcom

  • Karishma Hingorani, founder and podcaster, Karishma Konnect

Three key sessions will headline the event:

  • Global mobility & residence-by-investment
    Kicking off at 9:15am, this session explores how geopolitical uncertainty and changing tax landscapes are driving demand for alternative citizenship and relocation. Moderated by Orbcom’s Claire Vuylsteke, the panel will discuss the role of residence-by-investment in securing personal freedom and capital diversification for HNWIs based in the UAE.

  • IPO outlook: 2025 and beyond
    As Dubai and Abu Dhabi ramp up their listings strategies, this panel — moderated by Gulf Business Group Editor Gareth van Zyl — will explore what’s next for capital markets in the region. Speakers from Century Financial, PwC and Frost & Sullivan will dissect the performance of recent IPOs, investor sentiment, and how the UAE stacks up against global exchanges.

  • The great wealth transfer & new investment strategies
    With trillions of dollars set to shift hands globally over the coming decade, this final session looks at how family offices, private banks and platforms are adapting. Moderated by Karishma Hingorani, panellists from Bank of Singapore, HSBC and Capital Club will explore emerging investment behaviour among digital-native inheritors, and the future of wealth planning in the region.

Invitation to investors and professionals

The Gulf Business Breakfast Panel begins with registration and networking at 8:00am, followed by a welcome address and opening remarks. Attendance is free by invitation or registration, but places are limited.

Whether you’re a wealth advisor, entrepreneur, family office executive or institutional investor, this is a morning designed to help you make sense of the UAE’s most powerful investment signals — and position accordingly.

Dubai makes rental registration easy, as Injaz and DLD launch WhatsApp Ejari service

Initially launched in August 2024, AQARI was developed to offer a wide range of real estate services via WhatsApp

Gulf Business
Gulf Business

04 June, 2025

Dubai makes rental registration easy, as Injaz and DLD launch WhatsApp Ejari service

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Injaz Real Estate Registration Trustee, in partnership with the Dubai Land Department (DLD), has launched a new WhatsApp-based feature enabling remote Ejari registration through its AQARI platform, further advancing Dubai’s digital transformation in the real estate sector.

The update allows users to complete Ejari registration fully online without the need for physical visits, offering increased efficiency and convenience to tenants and landlords in Dubai.

This move aligns with the emirate’s push for smart government services and digital-first solutions.

, including title deed updates, property valuations, ownership registration, and more.

The integration of the Ejari registration service marks a major step forward in the platform’s capabilities, supporting DLD’s goals of safety, transparency, and innovation in real estate transactions.

Read: Dubai launches tokenised real estate investment project via ‘Prypco Mint’

Ejari registration through WhatsApp

All AQARI transactions are conducted through secure, government-linked channels to ensure data protection and service reliability for users both locally and internationally.

“The Dubai Land Department firmly believes that partnerships and cooperation with the private sector are crucial for realising our ambitious objectives,” said Khalifa Alsalfa, then Director of the Real Estate Services Pioneering Department at DLD. “This new platform underscores the significance of such collaborations, aligning with the vision of our leadership.”

Ahmed Al Suwaidi, DG of Injaz Real Estate Registration Trustee noted that the new service reflects Injaz’s commitment to customer convenience and digital transformation.

“With this milestone, clients can now complete essential steps such as Ejari registration entirely online, no matter where they are in the world,” added Majid Almazrouei, general manager of Injaz.

The partnership is expected to streamline real estate transactions, reinforce Dubai’s global reputation as a leading property investment hub, and provide stakeholders with more efficient and accessible services.

Customers can access the service via WhatsApp at 6005AQARI.

Eid Al Adha 2025: Dubai’s Salik announces toll rates

The toll rates will fluctuate throughout the day based on peak and off-peak hours to better manage traffic flow during the festive period

Nida Sohail
Nida Sohail

04 June, 2025

Eid Al Adha 2025: Dubai’s Salik announces toll rates
Image credit: Getty Images

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Dubai’s Salik toll system has announced a special variable tariff structure for Sunday, June 8, coinciding with the third day of Eid. The toll rates will fluctuate throughout the day based on peak and off-peak hours to better manage traffic flow during the festive period.

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Read-How much is Dubai’s Salik making in 2025? Here’s the latest

Peak hours – Dhs6

Motorists will be charged a higher rate of Dhs6 during peak hours to encourage the use of alternative routes or off-peak travel. The peak timings are:

Morning peak: From 6:00am until 10:00am

Evening peak: From 4:00pm until 8:00pm

Off-peak hours –Dhs4

For those traveling outside of the rush periods, Salik has reduced the toll to Dhs4. The off-peak hours are:

From 10:00am until 4:00pm

From 8:00pm until 1:00am (next day)

After midnight – No tariff

To accommodate late-night travelers and encourage smoother flow during less congested hours, Salik has waived toll charges completely between:

1:00am and 6:00am

This special toll schedule is part of broader traffic management initiatives implemented during holidays and peak seasons. Motorists are encouraged to plan their journeys accordingly to avoid peak charges and contribute to smoother traffic across Dubai.

It was during early May that Salik Company, had signed a memorandum of understanding (MoU) with ENOC Group to develop integrated digital payment solutions at ENOC fuel stations.

The agreement will allow customers to make seamless payments for fuel and services at ENOC stations using Salik’s e-wallet, with transaction values automatically deducted through vehicle number plate recognition technology.

Eid Al Adha 2025: What’s in the shopping cart for MENA consumers?

Gift preferences differed significantly between countries, underscoring the cultural diversity of the MENA market

Nida Sohail
Nida Sohail

04 June, 2025

Eid Al Adha 2025: What’s in the shopping cart for MENA consumers?
Image credit: Getty Images

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The MENA region is poised for a major surge in online shopping activity this Eid Al Adha, with experts projecting a significant rise in e-commerce orders and gross merchandise value (GMV).

Read-Hi-tech shopping: AI robots are here to help you shop in Dubai

According to joint research by UAE-based gifting marketplace Flowwow and global affiliate marketing platform Admitad, GMV is expected to grow by 14 to 15 per cent during the holiday season, with total e-commerce orders anticipated to rise by 10 per cent across the region.

The study, based on an analysis of more than 150,000 customer transactions during the 2024–2025 Eid Al Adha period, highlights a growing demand for seasonal gifting and emotionally driven consumer behavior. Key trends include an upward shift toward high-value purchases, continued mobile commerce acceleration, and the increasing role of storytelling and emotional marketing in purchasing decisions.

Mobile-first shopping on the rise

Mobile commerce continues to lead the transformation of the retail landscape in the region. In 2024, mobile devices accounted for 47 per cent of all online purchases in the UAE, and more than 50 per cent in Saudi Arabia. Across the broader MENA region, mobile’s share of e-commerce transactions reached 41.5 per cent, up from 38 per cent the previous year—demonstrating a growing preference for mobile-first shopping.

This shift is driven by increased smartphone penetration, better mobile app experiences, and the rapid adoption of digital payment solutions. Experts predict this trend will continue to fuel the e-commerce sector throughout 2025.

2024 holiday sales show strong performance

Data from the 2024 Eid Al Adha season reveals a notable uptick in consumer spending. Online orders in the MENA region increased by 5 per cent during the five-day holiday period compared to non-holiday weeks, while GMV grew by 14 per cent. The average order value (AOV) rose from $37 to $40—an increase of 8 per cent.

The highest AOV figures were recorded in Saudi Arabia ($62) and the UAE ($61), followed by other strong performers such as Kuwait, Qatar, and Jordan.

Flowwow sees exponential growth

Flowwow reported exceptional year-on-year growth in its UAE operations during Eid Al Adha 2024. The platform recorded a 472 per cent increase in GMV and a 413 per cent rise in total transactions, underlining growing consumer demand for festive gifting. The average order value for gifts on Flowwow reached Dhs354.28 ($96.46), reflecting a 19.9 per cent rise in local currency and a 20.3 per cent jump in US dollar terms.

Additionally, customer loyalty appears to be strengthening: 71.8 per cent of Eid Al Adha gift orders came from repeat buyers, demonstrating a deepening engagement with online gifting platforms.

Regional gifting preferences

Gift preferences differed significantly between countries, underscoring the cultural diversity of the MENA market. In Saudi Arabia, electronics dominated with a 25.2 per cent share of total orders, followed by home goods (15.5 per cent), fashion (14.6 per cent), and automotive products (12.2 per cent), including motorcycle gear and spare parts.

In contrast, UAE consumers prioritised home goods (23.4 per cent), electronics (21.7 per cent), accessories such as bags and jewellery (18.6 per cent), and fashion (17.5 per cent).

“During Eid Al Adha, we saw strong consumer interest in electronics, home goods, and fashion across both the UAE and Saudi Arabia, making these key categories for seasonal campaigns. Gifting segments like accessories, toys, and beauty continue to perform well, reflecting how central the tradition of gift-giving is to the holiday experience,” said Anna Gidirim, CEO of Admitad.

Floral trends and seasonal favorites

Floral gifts emerged as a major trend, especially peonies, which saw a 151 per cent increase in sales in the UAE during the June holiday week. The flower became one of the top 10 best-selling gift items on Flowwow during Eid Al Adha. This mirrored a broader trend in 2024, when the UAE’s flower market experienced a 200 per cent surge in peony sales during the summer, with over 4,300 units sold.

Other popular gift categories on Flowwow included flowers (72 per cent), hamper boxes (15 per cent), sweets and bakeries (9 per cent), and balloons or edible bouquets (2 per cent each).

Emotional commerce driving consumer decisions

The rise of emotional and social commerce is increasingly shaping how brands connect with consumers during Eid Al Adha. Emotional triggers are now central to purchase decisions in the region. A Google study highlighted that shoppers often rely on emotional connections rather than rational analysis when selecting gifts. Another survey showed that campaigns designed to evoke emotion can increase product usage and sales by up to 70 per cent.

Social media platforms like Instagram, TikTok, and Snapchat play a crucial role in this emotional economy. Influencer-driven content, behind-the-scenes brand stories, and culturally resonant campaigns are replacing transactional advertising with meaningful storytelling.

A TikTok and Ipsos study found that 61 per cent of users consider TikTok more entertaining during Eid, with many users discovering and trying new products thanks to video storytelling.

“We’ve seen how emotional commerce drives market activity during Eid Al Adha,” said Slava Bogdan, CEO of Flowwow. “This holiday, with its focus on generosity and connection, offers a key opportunity to engage with audiences through emotionally resonant messaging. People choose gifts that express real care and connection, making Eid a truly meaningful time for sharing and celebration.”

Outlook: Digital gifting boom to continue

The consistent growth in online orders, GMV, and AOV during Eid Al Adha indicates a lasting digital shift in the region’s retail ecosystem. As super apps and online marketplaces compete to capture the attention of digitally savvy consumers, the region’s long-standing culture of gifting is adapting to new technologies.

With rising household incomes and a young, tech-savvy population, the online gifting market in the GCC is expanding rapidly. Currently valued at $1.8bn, it is projected to reach $6.38bn by 2030.

Eid Al Adha continues to evolve from a traditional religious festival into a digital commerce event with enormous economic and cultural significance.

Big Ticket winner: Emirati man claims Dhs20m prize in Abu Dhabi draw

Mubarak Gharib Rashed Salem AlDhaheri, a UAE national from Al Ain, was announced as the grand prize winner of the Big Ticket Abu Dhabi draw for June 2025

Gulf Business
Gulf Business

04 June, 2025

Big Ticket winner: Emirati man claims Dhs20m prize in Abu Dhabi draw
Image: YouTube/ Big Ticket Abu Dhabi

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A retired Emirati military officer has become the latest Big Ticket winner, taking home Dhs20m in the latest draw held in Abu Dhabi.

Mubarak Gharib Rashed Salem AlDhaheri, a UAE national from Al Ain, was announced as the grand prize winner of the Big Ticket Abu Dhabi draw for June 2025, after his ticket number 337126 was randomly selected during the live event on June 3.

AlDhaheri, who is in his 50s, has been purchasing tickets regularly over the past two years, often from Al Ain Airport. Unlike many participants who buy in groups, he prefers going solo.

“I bought this ticket alone,” he confirmed in an interview with Gulf News.

Reflecting on the win, he added, “It was completely unexpected, but a good, unexpected surprise.”

AlDhaheri plans to use the prize money to purchase a new home for his family, invest wisely, and contribute to charitable causes. He also intends to keep participating in future draws, saying: “Never give up. A win is just a ticket away.”

The announcement was made during a livestream hosted by Big Ticket presenters Richard and Bouchra.

The Big Ticket Abu Dhabi draw, one of the region’s most well-known raffles, continues to attract widespread attention.

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