#finance

Yahsat eyes first Abu Dhabi IPO since 2017

The satellite operator plans to list a stake of as much as 40 per cent next month

UAE’s Emirates Development Bank allocates Dhs30m to finance SMEs through Beehive platform

The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request

Commercial Bank of Dubai Network International

Commercial Bank of Dubai partners with Network International for pre-approved business loans

CBD will offer business loans to Network’s retail and ecommerce clients against their Point of Sale machines or payment gateway proceeds

Nasdaq Dubai Indonesia Government

Indonesian government lists three sukuk valued at $3bn on Nasdaq Dubai

The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn

Saudi wealth fund PIF leads investment in $800m Middle East infrastructure fund

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries

Emirates Development Bank

Abu Dhabi’s Emirates Development Bank closes $750m five-year bond

This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme

Emirates-NBD

Emirates NBD lists $750m bond on Nasdaq Dubai

Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn

Shailesh Dash

How investing in big tech stocks can counter market volatility

Tech growth stocks continue to offer opportunities for investors due to their strong future potential, states entrepreneur and investor Shailesh Dash

Co-Founders Urban Company

Urban Company raises $255m in Series F funding round

Founded in November 2014, the company with operations in several countries including the UAE and Saudi Arabia is now valued at $2.1bn

Abu Dhabi Ports

ADX lists $1bn bonds issued by Abu Dhabi Ports

The exchange’s market capitalisation increased 27 per cent during the first quarter of 2021 to Dhs940bn

Emirates Development Bank, Commercial Bank of Dubai

Emirates Development Bank, Commercial Bank of Dubai sign MoU for SME lending programme

CBD can offer up to Dhs10m financing to an SME, and 50 per cent of the facility amount will be either guaranteed or co-lent by EDB

Abu-Dhabi

Emirates Stallion Group lists on ADX Second Market in the UAE

Established in 2006, ESG is present in 12 markets and had assets of Dhs537m as of the end of Q1 2021

UAE Central Bank

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The central bank’s foreign assets increased 0.4 per cent year-on-year

Bitcoin hovers around $40,000 as cryptos bounce back from rout

Bitcoin is about $25,000 shy of its mid-April record of almost $65,000

Faris Mesmar Co-founder and managing partner, hatch & boost

The SME Story: Faris Mesmar, co-founder and managing partner of hatch & boost

Hatch & Boost is an Abu Dhabi-based venture builder dedicated to hatching startup ideas and boosting them into scalable ventures in the Middle East

Abu Dhabi’s ADNOC Distribution to join MSCI emerging markets index on May 27

The fuel retailer will now be among nine UAE-listed companies to be part of the index

Abu Dhabi IHC

Abu Dhabi’s International Holding Company to list three subsidiaries on ADX Second Market

They will be listed on the exchange’s Second Market in Q2 2021

UAE’s Mashreq to use Oracle’s Transaction Banking platform

The platform is expected to help Mashreq respond more efficiently to the funding needs of local businesses and address capital diversification too

Abu Dhabi National Energy Company TAQA

Abu Dhabi’s TAQA completes $1.5bn dual-tranche bond sale

Net proceeds from the sale of the notes will be used to repay outstanding debt

Emirates NBD

Emirates NBD Capital records strongest ever quarter in debt capital market

Emirates NBD Capital led 24 transactions in Q1 2021 raising over $18bn

ADCB

Abu Dhabi Commercial Bank reports Dhs1.121bn in Q1 net profit, up 436 per cent y-on-y

Operating expenses of Dhs1.061bn decreased 20 per cent year-on-year and 1 per cent sequentially

joshua jahani

Why the GCC is emerging as a hub for global cross-border deals

With the region improving its status as a global trade hub, it is attracting more and more cross-border deals with countries such as the US, according to investment firm J&A

Dina Sam'an Coinmena

The SME Story: Dina Sam’an, founder and managing director of CoinMENA

CoinMENA is a fully-regulated, onshore, and Sharia-compliant crypto assets exchange

Dubai Islamic Bank Nasdaq Dubai sukuk

Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

DIB is the leading UAE-based sukuk issuer by value on Nasdaq Dubai with a total value of $6.3bn listed on the exchange

Sharjah Islamic Bank

Sharjah Islamic Bank operating profits up 27% in Q1 2021

Net profit for the three months ended March 31, 2021, amounted to Dhs164.2m, compared to Dhs153.7m for the corresponding period last year

Four reasons why investing is for everyone

As economies remain volatile, investing smartly can help anyone achieve financial freedom, according to AIX Investment Group

Tristar pulls Dubai IPO as investors push back on valuation

Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market

Finance House

For UAE SMEs: These business solutions simplify services and boost earnings

UAE-based Finance House’s ‘Rabeh Business’ suite of products aim to support small businesses via a wide range of offerings

Emirates Sheraa

Emirates partners with Sharjah’s Sheraa to spur startup and entrepreneurship ecosystem

Emirates will offer discounted fares for attendees of the Sharjah Entrepreneurship Festival and to startups relocating to the UAE through Sheraa’s initiatives

Dubai Chamber

Dubai Chamber members’ exports reach Dhs54.8bn in Q1 2021, up 6% y-on-y

Over 6,000 new member companies joined Dubai Chamber in the first three months of 2021