The IPO would be the UAE’s biggest since DP World raised nearly $5bn in 2007
The oil explorer and power supplier is said to be seeking loan facilities of up to $1.3bn
CEO Badr Jafar said half of the start-up fund would be used across the MENA region
JPMorgan is advising Bank of Sharjah on the potential deal
It was the first major equity listing in Dubai since late 2014
Other local banks have already taken steps to cut their exposure to the SME sector
The branch will continue to conduct normal activities, Qatar Insurance said in a bourse statement
BSF did not elaborate on the reasons for the exit of Couvegnes
Dubai is among the regional cities looking to become the Middle East’s fintech hub
The deal has been signed with French state-backed investment vehicles CDC International Capital and Bpifrance
Banks have not been asked to freeze the accounts
The lender has opened its first Indian branch in the city of Mumbai
The proceeds will be used by Tristar to expand its business
JPMorgan is among the banks advising Aramco on an international public offering
Nasser bin Aqeel al-Tayyar was reportedly detained in Saudi’s corruption probe
Prince Alwaleed has been detained as part of an anti-corruption crackdown
Proceeds raised from the four IPOs amounted to $140m, down 18 per cent from Q2 2017
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