Kingdom Holding, owned by Prince Alwaleed bin Talal, who was one of those detained, plunged 9.9 per cent
The sale is expected to raise about $100bn, making it the world’s largest IPO ever
This is the first major listing in Dubai since late 2014
The VAT registration procedure is free of charge and can be completed online
The GCC states originally intended to introduce VAT simultaneously in January 2018
The company will use the proceeds to pay off some of its debt and finance business development
The firm is also in talks to acquire a Gulf financial services company
The lender’s impairments dropped and operating income rose during the quarter
The indices are intended to be used as a transitional tool ahead of Saudi Arabia’s inclusion in FTSE’s emerging market index
VAT is set to be introduced from January 2018 in the UAE
Last year Virgin Galactic was granted an operating licence by US authorities
Prince Mohammad also reiterated that the IPO is on track for 2018
The bank recently obtained an investment banking licence in the kingdom
Investments will be in sectors such as real estate and infrastructure
The Saudi government plans to expand the PIF
Six banks are supporting Apple Pay transactions in the UAE
Prince Alwaleed also said the valuation of electric car maker Tesla Inc was “too exuberant”
Saudi national Meshari Al-Khaled has been appointed managing director and office head of the operation
Aramco is preparing to list about 5 per cent of its shares
The investment firm has acquired seven industrial properties across the UK
Foreign investors with appropriate experience and expertise will be allowed to own such stakes
Nasdaq Dubai launched its futures market last September
Retail investors can subscribe to the offering between November 2 to 13
More than 60 per cent of respondents reported no changes to loan terms and conditions last quarter
Emaar’s property arm plans to offer up to 30 per cent of its shares to the public
The new unit will oversee an early growth fund set up with Japan’s SoftBank
The move is also hoped to attract more foreign investors
ADNOC will remain wholly owned by one single shareholder – the Abu Dhabi government
Study also shows that almost one third of people are not saving any money
Allowing China to buy 5 per cent of Aramco would effectively mean cancelling the planned IPO