by Jibran Munaf | October 24, 2024 | Markets
Initial Public Offerings (IPOs) across the Gulf Cooperation Council (GCC) raised $1.7 billion during the third quarter of 2024, with the Abu Dhabi Securities Exchange (ADX) hosting the largest single offering. NMDC Energy raised $1.1 billion for a 23% stake in the...
by Jibran Munaf | October 24, 2024 | Banking, Corporate Finance
Abu Dhabi Commercial Bank PJSC (ADCB) has announced a 30% increase in profit before tax, reaching AED7.702 billion for the first nine months of 2024. Net profit after tax stood at AED6.846 billion, reflecting the bank’s strong financial performance. ADCB attributed...
by Jibran Munaf | October 24, 2024 | Economy
Charlie Walker, Deputy CEO of the London Stock Exchange (LSE), affirmed that the UAE is solidifying its position as an economic powerhouse in the Middle East and North Africa (MENA) region, playing a pivotal role in the bond issuance market in collaboration with the...
by Jibran Munaf | October 24, 2024 | Finance
Nasdaq Dubai has announced the successful listing of a $500 million Additional Tier 1 (AT1) Sukuk from Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE. Issued at a profit rate of 5.25% per annum, the Sukuk garnered robust investor interest, resulting in...
by Jibran Munaf | October 23, 2024 | Corporate Finance
Starbucks’ stock fell by more than 3% in after-hours trading on Tuesday following the release of its preliminary fourth-quarter results, which revealed another drop in sales. As the coffee giant grapples with a prolonged sales slump, CEO Brian Niccol announced...
