#finance

Commercial Bank of Qatar withdraws offer to raise stake in National Bank of Oman

The Qatari lender last month had offered $128m to raise its holding to 50.1 per cent from 34.9 per cent

Dubai’s Shuaa confirms talks to set up three SPACs

Shuaa has approached banks to set up three blank-check companies of around $200m each to pursue deals in the energy, finance, and technology sectors

Dubai’s Foundation Holdings boosts Saudi healthcare portfolio

The healthcare and education investment firm acquired 51 per cent of Shifa Al Munthaza Polyclinic

Mubadala’s satellite group Yahsat IPO raises $731m

The IPO gives Yahsat a market value of about Dhs6.7bn

Mashreq Bank Emirates Development Bank

Emirates Development Bank inks MoU with Mashreq for SME credit guarantee programmes

Mashreq will offer financing of up to Dhs10m to SME customers, of which 50 per cent will be guaranteed or co-lent by EDB

Emirates Development Bank

Emirates Development Bank lists $750m bond on Nasdaq Dubai

Dubai’s US-dollar denominated debt listings are now valued at $98.5bn

Ajman Free Zone

RAKBANK agrees MoU with Ajman Free Zone for SME financing

RAKBANK will offer SMEs and larger businesses based in free zone easy access to account opening services, loans, and credit facilities

Aldar properties abu dhabi

Aldar Properties becomes MENA’s first real estate company to secure sustainability-linked loan

Aldar will invest a fixed amount in one or more ESG projects if it does not reach agreed annual targets

Understanding the impact investment mindset

Investments in companies that prioritise social and environmental objectives perform as well financially as traditional investments

Finance chief who steered Saudi Aramco through IPO to step down

The company is set to name Ziad Al-Murshed as chief financial officer, replacing Khalid al-Dabbagh

eyewa

UAE startup eyewa raises $21m in Series B funding round

Eyewa aims to take its e-commerce model and expand into brick-and-mortar retail operations at key locations in the region

Oman

Oman to introduce new long-term residency programme for foreign investors

Starting September 2021, the Investment Residency Programme will offer renewable five and ten-year visas subject to applicants meeting specific criteria

Here’s how you can allocate your investment portfolio in the current market

It is important to maintain liquidity while also diversifying your assets, according to AIX Investment Group

Dubai UAE

Dubai repays 10-year $500m bond certificates

The 10-year note, under the Euro Medium Term Note Programme, reached maturity on June 22, 2021

Yahsat eyes first Abu Dhabi IPO since 2017

The satellite operator plans to list a stake of as much as 40 per cent next month

UAE’s Emirates Development Bank allocates Dhs30m to finance SMEs through Beehive platform

The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request

Commercial Bank of Dubai Network International

Commercial Bank of Dubai partners with Network International for pre-approved business loans

CBD will offer business loans to Network’s retail and ecommerce clients against their Point of Sale machines or payment gateway proceeds

Nasdaq Dubai Indonesia Government

Indonesian government lists three sukuk valued at $3bn on Nasdaq Dubai

The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn

Saudi wealth fund PIF leads investment in $800m Middle East infrastructure fund

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries

Emirates Development Bank

Abu Dhabi’s Emirates Development Bank closes $750m five-year bond

This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme

Emirates-NBD

Emirates NBD lists $750m bond on Nasdaq Dubai

Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn

Shailesh Dash

How investing in big tech stocks can counter market volatility

Tech growth stocks continue to offer opportunities for investors due to their strong future potential, states entrepreneur and investor Shailesh Dash

Co-Founders Urban Company

Urban Company raises $255m in Series F funding round

Founded in November 2014, the company with operations in several countries including the UAE and Saudi Arabia is now valued at $2.1bn

Abu Dhabi Ports

ADX lists $1bn bonds issued by Abu Dhabi Ports

The exchange’s market capitalisation increased 27 per cent during the first quarter of 2021 to Dhs940bn

Emirates Development Bank, Commercial Bank of Dubai

Emirates Development Bank, Commercial Bank of Dubai sign MoU for SME lending programme

CBD can offer up to Dhs10m financing to an SME, and 50 per cent of the facility amount will be either guaranteed or co-lent by EDB

Abu-Dhabi

Emirates Stallion Group lists on ADX Second Market in the UAE

Established in 2006, ESG is present in 12 markets and had assets of Dhs537m as of the end of Q1 2021

UAE Central Bank

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The central bank’s foreign assets increased 0.4 per cent year-on-year

Bitcoin hovers around $40,000 as cryptos bounce back from rout

Bitcoin is about $25,000 shy of its mid-April record of almost $65,000

Faris Mesmar Co-founder and managing partner, hatch & boost

The SME Story: Faris Mesmar, co-founder and managing partner of hatch & boost

Hatch & Boost is an Abu Dhabi-based venture builder dedicated to hatching startup ideas and boosting them into scalable ventures in the Middle East

Abu Dhabi’s ADNOC Distribution to join MSCI emerging markets index on May 27

The fuel retailer will now be among nine UAE-listed companies to be part of the index