Company Insights Emirates NBD Banking & Finance Emirates NBD News Markets Dubai focuses on pre-IPO stage for startups Dubai Financial Market (DFM) is focusing on supporting startups in the pre-initial public offering (IPO) stage to raise capital and connect them with potential investors, CEO Hamed Ali has said. “Diversifying the investor base is one of the top priorities for DFM,” Ali was quoted as saying in an interview with the UAE state-owned Wam […] May 3, 2024 Analysis Markets Hope for more private UAE listings follows Spinneys IPO The record-breaking interest in supermarket giant Spinneys’ upcoming listing on the Dubai Financial Market could start a rush of private listings in the UAE, industry experts have predicted. The country’s privatisation strategy has led to a raft of government-owned entities being listed on the Dubai and Abu Dhabi stock exchanges. Last year there were 48 […] May 2, 2024 Banking & Finance Emirates NBD Q1 profit rises 12% on global income growth Emirates NBD, Dubai’s largest bank by assets, said net profit rose 12 percent in the first quarter of 2024, thanks to income growth from its international network. Net profit for the first three months ended March 31 reached AED6.7 billion ($1.8 billion), up from AED6 billion a year ago. Total assets jumped to AED902 billion […] April 25, 2024 Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024 Finance DAE gets $750m liquidity boost from Emirates NBD Aircraft leasing company Dubai Aerospace Enterprise (DAE) has secured AED2.75 billion ($750 million) in funding from Dubai-listed Emirates NBD. The five-year unsecured term loan will be used for general corporate purposes and to support the company’s financing requirements, the aircraft lessor said in a statement. NewsletterGet the Best of AGBI delivered straight to your inbox […] April 5, 2024 Analysis Finance China and US vie for FDI supremacy in Gulf’s biggest economies China and the United States invested more than $23 billion in projects in the Gulf’s two biggest economies last year. The US more than doubled its “greenfield” foreign direct investment in the UAE to nearly $4 billion, while China’s commitment to Saudi Arabia rose 10-fold to almost $17 billion. Greenfield FDI involves a foreign entity […] April 5, 2024 Analysis Banking & Finance Reasons to be cheerful for UAE banks with Egyptian subsidiaries Despite the plunge in the value of the Egyptian pound, UAE banks’ subsidiaries in the country remain a strong long-term asset, analysts have told AGBI. Three Emirati banks – Abu Dhabi Islamic Bank, First Abu Dhabi Bank and Dubai’s Emirates NBD – have acquired Egyptian lenders. The pound-to-dollar exchange rate stood at about EGP31 at […] March 28, 2024 Retail UAE’s Lulu selects banks for potential $2bn IPO UAE’s retail conglomerate LuLu Group International has appointed local and international banks to lead its proposed $2 billion initial public offering (IPO), according to a media report. The company, which is among the largest hypermarket chain operators in the Middle East, has selected Abu Dhabi Commercial Bank, Citigroup, Emirates NBD Capital and HSBC Holdings to […] March 22, 2024 Analysis Banking & Finance UAE banks struggling to match 2023’s record profits Banks in the UAE will struggle to repeat last year’s record annual profits in 2024, after the introduction of corporate tax, expected US interest rate cuts and the likely absence of the bumper one-off gains that bolstered their bottom line in 2023. However, a slight decline in profitability would still represent a strong performance by […] March 15, 2024 Analysis Banking & Finance GCC banks look to US and Europe GCC banks may be forced to look overseas to fulfil growth ambitions as home markets become increasingly saturated, experts say. While some banks have already ventured abroad – mainly into Turkey, Egypt and Pakistan, which constitute nearly a half of their presence outside the Gulf – more developed markets such as the US and Europe […] February 28, 2024 Posts navigation Previous 1 … 6 7 8 … 19 Next
Markets Dubai focuses on pre-IPO stage for startups Dubai Financial Market (DFM) is focusing on supporting startups in the pre-initial public offering (IPO) stage to raise capital and connect them with potential investors, CEO Hamed Ali has said. “Diversifying the investor base is one of the top priorities for DFM,” Ali was quoted as saying in an interview with the UAE state-owned Wam […] May 3, 2024
Analysis Markets Hope for more private UAE listings follows Spinneys IPO The record-breaking interest in supermarket giant Spinneys’ upcoming listing on the Dubai Financial Market could start a rush of private listings in the UAE, industry experts have predicted. The country’s privatisation strategy has led to a raft of government-owned entities being listed on the Dubai and Abu Dhabi stock exchanges. Last year there were 48 […] May 2, 2024
Banking & Finance Emirates NBD Q1 profit rises 12% on global income growth Emirates NBD, Dubai’s largest bank by assets, said net profit rose 12 percent in the first quarter of 2024, thanks to income growth from its international network. Net profit for the first three months ended March 31 reached AED6.7 billion ($1.8 billion), up from AED6 billion a year ago. Total assets jumped to AED902 billion […] April 25, 2024
Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024
Finance DAE gets $750m liquidity boost from Emirates NBD Aircraft leasing company Dubai Aerospace Enterprise (DAE) has secured AED2.75 billion ($750 million) in funding from Dubai-listed Emirates NBD. The five-year unsecured term loan will be used for general corporate purposes and to support the company’s financing requirements, the aircraft lessor said in a statement. NewsletterGet the Best of AGBI delivered straight to your inbox […] April 5, 2024
Analysis Finance China and US vie for FDI supremacy in Gulf’s biggest economies China and the United States invested more than $23 billion in projects in the Gulf’s two biggest economies last year. The US more than doubled its “greenfield” foreign direct investment in the UAE to nearly $4 billion, while China’s commitment to Saudi Arabia rose 10-fold to almost $17 billion. Greenfield FDI involves a foreign entity […] April 5, 2024
Analysis Banking & Finance Reasons to be cheerful for UAE banks with Egyptian subsidiaries Despite the plunge in the value of the Egyptian pound, UAE banks’ subsidiaries in the country remain a strong long-term asset, analysts have told AGBI. Three Emirati banks – Abu Dhabi Islamic Bank, First Abu Dhabi Bank and Dubai’s Emirates NBD – have acquired Egyptian lenders. The pound-to-dollar exchange rate stood at about EGP31 at […] March 28, 2024
Retail UAE’s Lulu selects banks for potential $2bn IPO UAE’s retail conglomerate LuLu Group International has appointed local and international banks to lead its proposed $2 billion initial public offering (IPO), according to a media report. The company, which is among the largest hypermarket chain operators in the Middle East, has selected Abu Dhabi Commercial Bank, Citigroup, Emirates NBD Capital and HSBC Holdings to […] March 22, 2024
Analysis Banking & Finance UAE banks struggling to match 2023’s record profits Banks in the UAE will struggle to repeat last year’s record annual profits in 2024, after the introduction of corporate tax, expected US interest rate cuts and the likely absence of the bumper one-off gains that bolstered their bottom line in 2023. However, a slight decline in profitability would still represent a strong performance by […] March 15, 2024
Analysis Banking & Finance GCC banks look to US and Europe GCC banks may be forced to look overseas to fulfil growth ambitions as home markets become increasingly saturated, experts say. While some banks have already ventured abroad – mainly into Turkey, Egypt and Pakistan, which constitute nearly a half of their presence outside the Gulf – more developed markets such as the US and Europe […] February 28, 2024
