EFG Hermes completes advisory on $6.1 bn DEWA IPO

EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX

Dubai utility surges after pulling off year’s second-biggest IPO

The IPO valued DEWA at $33.8bn

Mideast asset manager Investcorp seeks cash for blockchain fund

The eLydian Lion fund will be based in Abu Dhabi

Binance receives in-principle approval from Abu Dhabi Global Market

Upon completion of the application, Binance will be able to offer services regarding virtual asset offerings to customers across the MENA region

Adani Group

Abu Dhabi’s IHC to invest Dhs7.3bn in India’s Adani Group

The three companies – AGEL, ATL and AEL – are part of the Adani Group’s green portfolio, and have core aspects of ESG woven into their operations

DIFC’s new Studio Launchpad to support SMEs, financial ecosystem

Part of its Strategy 2030, DIFC’s Studio Launchpad is designed to attract and engage a consortium of leading startup and corporate venture studios

UAE’s DFSA introduces ‘whistleblowing’ regulatory regime

DFSA’s regime aims to improve the whistleblowing culture among its regulated entities by increasing transparency around how they handle regulatory concerns

Dubai’s Mashreq and noon.com launch VIP savings account

The account provides customers competitive interest rates on their savings, cashback on all spends and a free noon VIP membership among other features

Venture capital giant Sequoia Capital names new leader

Sequoia has backed many of the world’s leading companies, ranging from Apple to Airbnb to Zoom Video Communications

Citi to sell its consumer unit in Bahrain to Ahli United Bank

The transaction includes Citigroup’s retail-banking, credit-card and unsecured-lending businesses

Dubai Financial Services Authority

Dubai Financial Services Authority signs MoU with Central Bank of Mauritius

The agreement will facilitate knowledge exchange on technologically enabled financial innovation

Saudi’s PIF, stc Group sign agreement to establish new IoT company

The JV agreement is part of PIF’s and stc’s efforts to drive rapid growth of Internet of Things across Saudi Arabia

Emirates Development Bank

Emirates Development Bank contributes Dhs1.91bn to UAE’s GDP

The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors

Dubai’s DEWA boosts retail offer in one of region’s biggest IPOs

Including the employee tranche, retail investors will represent 9.2 per cent of the deal

UAE’s ADGM and Finastra team up for ‘Hack to the Future 4’

ADGM’s hackathon is seeing participants explore innovative ideas around themes of ESG, embedded finance and decentralised finance

Where is Bitcoin heading? Look at the options market

Demand for call options that give the right to buy the cryptocurrency in the future has climbed this month as Bitcoin’s spot price rallied

Gold steady after best quarter since 2020 on rising haven demand

US inflation-adjusted consumer spending declined in February

ADX, FTSE Russell benchmark blue chip index to launch on March 30

The FTSE ADX 15 Index will include 15 of the largest and most liquid companies listed on the Abu Dhabi Securities Exchange

Abu Dhabi Global Market

World’s first regulated carbon credit trading exchange to launch in UAE

Corporates will be able to trade and finance carbon credits like conventional financial assets

Bitcoin’s stealth rally has bulls eyeing $51,000 once again

The coin has added 15 per cent over the past week

Oman

Oman to allow full foreign ownership in listed companies

Muscat Clearing and Depository finalised measures to open up the market

Bitcoin is struggling below $45,000 but there are signs it could break out

Bitcoin is well above its 50-day moving average, which currently sits around $41,085

How 2021 was a record year for M&A

Regional and global M&A activity witnessed strong growth last year

Business24-7 expands services to online traders in the MENA region

The online portal, which guides users through the complex process of finding the right broker, features objective broker and trading platform evaluations

Abu Dhabi’s Multiply Group to invest Dhs367m in DEWA IPO

In 2021, Multiply Group acquired stakes in UAE-based assets and international high growth firms such as Firefly, Savage X Fenty, Getty images and Viola

Alpha Dhabi invests Dhs367m in DEWA’s IPO

The investment has been made through its subsidiary Alpha Dhabi Partners Holding

Egypt’s EFG Hermes Holding reports EGP1.5bn in net profit in 2021

The group’s revenues crossed the EGP6 billion mark for the first time

Etihad Airways

Etihad: New co-branded credit card gives complimentary gold tier status

The Emirates NBD Etihad Guest Visa Credit Cards are available as Elevate and Inspire variants

UAE’s DEWA IPO subscription period opens today

The price range is set between Dhs2.25 and Dhs2.48 per share, implying a market capitalisation of between Dhs112.5bn and Dhs124bn