by Jibran Munaf | October 25, 2024 | Corporate Finance
Indian food delivery leader Swiggy is set to launch an initial public offering (IPO) valued up to INR 120 billion ($1.4 billion) in early November, according to sources cited by IFR. The IPO will include primary shares worth INR 37.5 billion and 186 million secondary...
by Jibran Munaf | October 25, 2024 | Corporate Finance
Saudi Aramco is forecasted to report a 20% year-on-year (YoY) drop in net profit for Q3 2024, largely due to “weaker upstream realizations, lower refining margins, and expected inventory losses,” according to a report by Citigroup Global Markets Inc. Citi...
by Jibran Munaf | October 24, 2024 | Corporate Finance
Tesla shares surged nearly 12% in pre-market trading on Thursday after the company forecast a significant rise in car sales, calming investor fears about CEO Elon Musk’s shifting focus from electric vehicles (EVs) to robotics and artificial intelligence. The stock...
by Jibran Munaf | October 24, 2024 | Corporate Finance
Tesla’s (TSLA) stock surged nearly 11% in after-hours trading on Wednesday following the release of its third-quarter earnings, which exceeded Wall Street expectations. The electric vehicle (EV) maker delivered strong results in gross margins, earnings per share, and...
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 | 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...
