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Dubai Islamic Bank prices $750m inaugural sustainable sukuk

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

The transaction marked the largest issue size in international capital markets by a GCC bank since February 2022

Taaleem IPO

UAE’s Taaleem sets offer price range, looks to raise $204m from IPO

The subscription period starts today, with trading of shares expected to commence on November 29

Empower

Dubai’s Empower increases IPO stake size from 10% to 15%

The company’s market capitalisation at listing is expected to be between $3.56bn and $3.62bn

Empower reports robust growth of 41.3%

Dubai seeks to raise $362m from district cooling firm IPO

Empower will start taking investor orders for the IPO from Monday, with final pricing scheduled for November 9

Dubai Financial Market Company

Dubai Financial Market Company posts 133% rise in net profit for nine-month period

The company’s total revenue reached Dhs237.8m during the first nine months of the year

STC Alibaba

Arabian Drilling draws $43bn in orders for Riyadh IPO

The company set the final offer price at $26.6 a share, raising $710m after a book-building process for institutional investors

Gold is heading East as a falling price lures Asian buyers

Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors

Abu Dhabi Securities Exchange adds stock futures to derivatives market

Abu Dhabi Securities Exchange adds five single stock futures to derivatives market

From October 6, stock futures on Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Fertiglobe, Borouge and AD Ports will be available for trading on the derivatives market

Salik

IPO: Dubai to sell 20% stake of road-toll operator Salik

A total of 1.5 billion shares with a nominal value of Dhs0.01 each will be made available in the offering

Oil holds gain as investors assess supply, possible OPEC+ cut

The Organization of Petroleum Exporting Countries and its allies convene on September 5

Oil August 1

Oil extends losses on global slowdown and chance of more supply

Investors are also facing the prospect of rising supply as demand moderates

Smart security

Smart security: Investing in a safer world

We explore how a rapidly changing geopolitical landscape has driven investment prospects in certain sector

Copper

Copper crash deepens as recession fears dominate metals trading

Copper fell 1.1 per cent to $7,589 a ton on the London Metal Exchange as of 11.03am in Shanghai, dipping below the $7,597 intraday low on Tuesday

Bitcoin

Bitcoin hints at a bottom, but it may be different this time

Assets under management for crypto investment products in June reached a record low

Oil

Oil holds above $110 as tight supply balanced by recession risk

Oil has started the third quarter in strong form after dropping in June

Saudi Exchange announces intent to launch single stock futures contracts in July

The new contracts mark the second derivatives product to be introduced in the exchange

Carlyle seeks $325m from Gulf Domino’s Pizza operator IPO

Carlyle is selling a 41.7 per cent stake in Alamar, or 10.6 million shares, to institutional and retail investors

UAE: Ministry of Finance announces second auction of federal treasury bonds

Bonds amounting to Dhs750m will be offered for a two-year tranche, and Dhs750m for a three years tranche

investment trends

Eye for detail: What do key investment trends look like?

Speaking to Gulf Business, Rob Ansari, head of investments and retirement – India, Middle East, Turkey and Africa at Mercer, shares insights on evolving market trends and the way forward

Dubai-Internet-City Tecom Group

Tecom Group to list 12.5% of shares on Dubai Financial Market

The company expects to pay a dividend amount of Dhs800m per annum over the next three years

Bitcoin

Bitcoin tumbles as much as 7.1% to drop back below $30,000

Bitcoin has been strongly correlated with risk assets for much of the past couple years

Sukuk

Sharjah’s Arada raises $350m via dollar sukuk, lists on London Stock Exchange

The issuance witnessed demand from regional and international investors, with a subscription order of $720m, more than two times the offer size

Bitcoin

Bitcoin seen at risk of resuming slide if $29,000 support fails

Bitcoin is trading above $30,000 on Tuesday as it recovers from a sharp decline in the past three weeks

Mercedes

Mercedes to swing to top-end models in luxury-car profit race

Mercedes sees top-end vehicle sales increasing by 60 per cent by 2026, a jump that would help push its operating margin to around 14 per cent by mid-decade

Dubai Financial Market

Dubai Financial Market to launch trading of Oman Crude Oil futures from June

The contracts will be cash settled and will have a smaller contract size of 100 barrels making them accessible

Dubai’s Shuaa Capital acquires majority stake in Souqalmal

Shuaa joins existing investors Riyad Capital and UK comparison website GoCompare

Gold advances as traders weigh Fed rate hike, growth risks

Investors continue to seek a store of value amid the uncertainty

Oil edges higher after three-day slide as volatility continues

The US Federal Reserve raised interest rates by a quarter percentage point

Uber’s Careem seeks $500m from Abu Dhabi and Saudi funds

Dubai-based Careem has reportedly held talks with Saudi Arabia’s Public Investment Fund and Abu Dhabi’s ADQ to raise the funds

Traded values on Abu Dhabi Securities Exchange increased 407% in 2021

Market capitalisation of stocks listed on the exchange more than doubled to reach Dhs1.6tn