A total of 625,000,000 shares, equivalent to 12.5 per cent of Tecom Group’s issued share capital, were issued
Zand is now authorised and regulated to operate as a fully independent commercial bank
Assets under management for crypto investment products in June reached a record low
The merged company started trading on the Dubai Financial Market from July 4
The pact will help increase annual bilateral trade to $10bn within five years by removing trade barriers on a range of goods and services
Zand’s backers include Franklin Templeton, Aditya Birla Group, Al Hail Holding, Global Development Group and Yusuff Ali of Lulu Group
CM Naveen Patnaik met key UAE business groups as part of an investment roadshow to promote investment in the state’s industrial sector
Bitcoin has been sinking along with riskier assets in recent months
The lab will run business and technical deep-dive workshops, facilitate industry and regulatory forums on important issues such as API standards and consumer consent management
The new contracts mark the second derivatives product to be introduced in the exchange
It appears to have found support around its 200-week moving average, which currently sits near $1,200
The bonds will be issued with a 10-year tranche and a 30-year Formosa tranche
“We will look to the right time to apply such taxes” – Finance Minister Ali Al Kuwari
The bonds were largely issued as part of TAQA’s Global Medium Term Note Programme and are listed on the London Stock Exchange
ADIB and Visa’s partnership will drive the growth of digital payments through data-led solutions and deliver differentiated products in the market
The figures were cited in an economic report issued by the Saudi Chambers of Commerce and Industry during Saudi Crown Prince Mohammed bin Salman’s visit to Jordan
In addition to ADIA and ADQ, Kuwait Investment Authority and Qatar Investment Authority were among the GCC entities present at the forum
The funds from the group will be deployed over the next three years to cover the import costs of seeds, grains and fertilisers and alleviate food supply challenges
FADX 15 futures are cash-settled contracts that will replicate the price performance of the benchmark FADX 15 index
The A/B loan structure will help support APICORP’s less developed member countries and encourage private sector participation
Carlyle is selling a 41.7 per cent stake in Alamar, or 10.6 million shares, to institutional and retail investors
Bonds amounting to Dhs750m will be offered for a two-year tranche, and Dhs750m for a three years tranche
Alhokair family has acquired a 4.99 per cent stake in valU through a capital injection of $12.4m, signifying a valuation of $247.4m for the company
It will enable the department to increase productivity, reduce costs and improve controls and optimise its supply chain management
Bitcoin is down about 57 per cent since the start of the year
Sohar International recorded a 41.6 per cent increase in net profit to OMR28.3m for the year ended December 31, 2021
Fintechs, startups and financial institutions can now plug and play into NymCard’s modern BaaS infrastructure to issue their own Mastercard cards
The final offer price is expected to be announced on June 27, 2022
Central banks across the GCC have also raised their interest rates