Company Insights Spinneys Retail Spinneys News Markets Lulu shrugs off rivals’ stock performance ahead of IPO Lulu Retail Holdings, one of the Middle East’s largest hypermarket operators, has shrugged off the double-digit stock declines of its listed competitors as it kicked off its initial public offering, focusing on its expansion plans. The company is selling a 25 percent stake, and more than 2.5 billion shares are to be offered at a […] October 22, 2024 Retail Supermarket major Lulu officially announces IPO UAE supermarket major Lulu is to list a 25 percent stake on the Abu Dhabi Securities Exchange (ADX). Over 2.5 billion shares of Lulu Retail Holdings, which is among the largest hypermarket chain operators in the Middle East, will be made available with a nominal value of $0.014. “With GCC retail presenting a $100 billion […] October 21, 2024 Food & Drink Spinneys to build processing unit in Food Tech Valley The UAE supermarket chain Spinneys has signed a deal to build a 500,000 square foot food processing unit in Dubai’s Food Tech Valley as part of the plan to increase its locally sourced produce. The deal, which will last for 27 years, is intended to foster innovation in food processing as part of the wider […] October 7, 2024 Opinion Food & Drink Our love for cheap imported food is costing us dearly The UAE is too dependent on food imports while about a third, worth $4 billion, is wasted October 4, 2024 Retail Saudi retail in tech race to lock in consumer loyalty Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts. “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy. “Technology […] September 17, 2024 Food & Drink Talabat food delivery service prepares for Dubai IPO The food delivery company Talabat is to list on the Dubai Financial Market this year, 20 years after it was founded. The business, which operates in eight countries across the Middle East and North Africa, will pursue an initial public offering in the fourth quarter, according to a filing on the Frankfurt Stock Exchange from […] August 29, 2024 Retail Majid Al Futtaim retail revenue drop drags H1 profit Increasingly frugal shoppers and currency devaluations led the retail division of UAE conglomerate Majid Al Futtaim to report an 11 percent year-on-year drop in revenue in the first half of the year, resulting in its net profit dropping 6 percent. The company’s retail operations account for around 70 percent of its total business and consist […] August 27, 2024 Finance NMDC Group to list energy unit on Abu Dhabi exchange The board of NMDC Group has confirmed a decision to list its energy subsidiary on the Abu Dhabi stock exchange. NMDC Energy will sell a portion through an initial public offering (IPO) after obtaining the green light from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange, according to Abu Dhabi-listed NMDC Group’s filing […] August 25, 2024 Banking & Finance Gulf IPOs raise 45% more in Q2 than last year The money raised in IPOs in the Gulf region soared in the second quarter of the year, with 14 deals worth a total of $2.64 billion struck in the healthcare, education and technology sectors. The number of IPOs rose only slightly year on year, from 13 listings in the second quarter of 2023, but proceeds […] August 13, 2024 Retail Spinneys profit grows 18% with help from online sales Profits at UAE supermarket operator Spinneys surged 18 percent year on year to AED146 million ($40 million) in the first half of 2024. Strong growth in online sales helped raise revenues, which increased by 10 percent year on year to AED1.6 billion. The company also opened two new branches in Dubai, the first standalone dining concept […] August 8, 2024 Posts navigation Previous 1 2 3 … 5 Next
Markets Lulu shrugs off rivals’ stock performance ahead of IPO Lulu Retail Holdings, one of the Middle East’s largest hypermarket operators, has shrugged off the double-digit stock declines of its listed competitors as it kicked off its initial public offering, focusing on its expansion plans. The company is selling a 25 percent stake, and more than 2.5 billion shares are to be offered at a […] October 22, 2024
Retail Supermarket major Lulu officially announces IPO UAE supermarket major Lulu is to list a 25 percent stake on the Abu Dhabi Securities Exchange (ADX). Over 2.5 billion shares of Lulu Retail Holdings, which is among the largest hypermarket chain operators in the Middle East, will be made available with a nominal value of $0.014. “With GCC retail presenting a $100 billion […] October 21, 2024
Food & Drink Spinneys to build processing unit in Food Tech Valley The UAE supermarket chain Spinneys has signed a deal to build a 500,000 square foot food processing unit in Dubai’s Food Tech Valley as part of the plan to increase its locally sourced produce. The deal, which will last for 27 years, is intended to foster innovation in food processing as part of the wider […] October 7, 2024
Opinion Food & Drink Our love for cheap imported food is costing us dearly The UAE is too dependent on food imports while about a third, worth $4 billion, is wasted October 4, 2024
Retail Saudi retail in tech race to lock in consumer loyalty Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts. “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy. “Technology […] September 17, 2024
Food & Drink Talabat food delivery service prepares for Dubai IPO The food delivery company Talabat is to list on the Dubai Financial Market this year, 20 years after it was founded. The business, which operates in eight countries across the Middle East and North Africa, will pursue an initial public offering in the fourth quarter, according to a filing on the Frankfurt Stock Exchange from […] August 29, 2024
Retail Majid Al Futtaim retail revenue drop drags H1 profit Increasingly frugal shoppers and currency devaluations led the retail division of UAE conglomerate Majid Al Futtaim to report an 11 percent year-on-year drop in revenue in the first half of the year, resulting in its net profit dropping 6 percent. The company’s retail operations account for around 70 percent of its total business and consist […] August 27, 2024
Finance NMDC Group to list energy unit on Abu Dhabi exchange The board of NMDC Group has confirmed a decision to list its energy subsidiary on the Abu Dhabi stock exchange. NMDC Energy will sell a portion through an initial public offering (IPO) after obtaining the green light from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange, according to Abu Dhabi-listed NMDC Group’s filing […] August 25, 2024
Banking & Finance Gulf IPOs raise 45% more in Q2 than last year The money raised in IPOs in the Gulf region soared in the second quarter of the year, with 14 deals worth a total of $2.64 billion struck in the healthcare, education and technology sectors. The number of IPOs rose only slightly year on year, from 13 listings in the second quarter of 2023, but proceeds […] August 13, 2024
Retail Spinneys profit grows 18% with help from online sales Profits at UAE supermarket operator Spinneys surged 18 percent year on year to AED146 million ($40 million) in the first half of 2024. Strong growth in online sales helped raise revenues, which increased by 10 percent year on year to AED1.6 billion. The company also opened two new branches in Dubai, the first standalone dining concept […] August 8, 2024
