Company Insights Dubai Financial Market (DFM) Markets Dubai Financial Market (DFM) News Banking & Finance Schools operator Taaleem enjoys profit rise of 35% Taaleem, the Dubai-listed schools operator, posted a surge in net profit for the nine months up to 31 May, driven by a strong increase in student enrolment. The company also benefitted from unrealised gains from its initial public offering (IPO) last November. Net profit rose 35 percent year on year to AED199.8 million ($54 million) […] July 11, 2023 Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023 Banking & Finance IPOs boost Abu Dhabi’s bourse despite stock sell-off The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […] June 28, 2023 Markets UAE stock markets surge $60bn in value in H1 2023 The market value of UAE stock exchanges rose by AED220 billion ($59.89 billion) in the first six months of 2023 to AED3.43 trillion, boosted by higher demand from foreign investors and new listings. Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), the UAE […] June 28, 2023 Banking & Finance UAE remittance market nears ‘saturation point’ The remittance and foreign exchange market in the UAE is “saturated” and will need consolidation as new businesses continue to emerge. “Either people will have to grow digitally [at scale] to capture market share or they’ll get amalgamated,” said Zahir Moghal, CEO of Abu Dhabi currency provider Delma Exchange. “It’s totally saturated. It’s completely over-supplied […] June 12, 2023 Transport Dubai considers taxi operator IPO as sector surges Dubai is considering a stock market listing for its taxi operator, as the sector surges back to pre-pandemic levels and attracts local and international investment. The emirate’s Roads and Transport Authority (RTA) is in the early stages of considering listing the Dubai Taxi Corporation (DTC) as the latest state-backed entity to list on the Dubai […] May 31, 2023 Analysis Banking & Finance Tadawul and DFM are overvalued, data shows The companies that operate Dubai and Saudi Arabia’s bourses are providing investors with scant returns because of high valuations and low dividend yields following a prolonged Gulf stock trading slump. Dubai Financial Market (DFM) was the first Gulf bourse to go public, in 2007, while Boursa Kuwait and Saudi Tadawul Group followed suit in 2020 […] May 11, 2023 Markets Mena IPO pipeline ‘healthy’ after fall in Q1 listings A “healthy pipeline” of initial public offerings lies ahead for the remainder of this year, experts have told AGBI, despite a fall in Middle East and North African listings in the first quarter. According to the EY Mena IPO Eye Q1 2023 report, the quarter saw 10 stock market listings with combined proceeds of $3.4 […] May 10, 2023 Energy Revenues power up by 7.3% at Dewa Dubai Electricity and Water Authority (Dewa) has reported revenues of AED763 million ($207.78 million) for the first quarter of the year amid increased demand from customers across the board. The Dubai listed company’s first quarter consolidated revenue increase of 7.3 percent year-on-year to AED 5.44 billion was mainly driven by an increase in demand for […] May 8, 2023 Construction Dubai’s DSI launches court case against PwC Dubai construction contractor Drake & Scull International has registered a lawsuit against global consultancy giants PwC in Dubai Courts over a AED5.5 billion ($1.49 billion) black hole in the company’s accounts. The case revolves around the six-year period between 2011 and 2017 when PwC were auditors for DSI and were also in charge of preparing […] May 5, 2023 Posts navigation Previous 1 … 13 14 15 … 20 Next
Banking & Finance Schools operator Taaleem enjoys profit rise of 35% Taaleem, the Dubai-listed schools operator, posted a surge in net profit for the nine months up to 31 May, driven by a strong increase in student enrolment. The company also benefitted from unrealised gains from its initial public offering (IPO) last November. Net profit rose 35 percent year on year to AED199.8 million ($54 million) […] July 11, 2023
Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023
Banking & Finance IPOs boost Abu Dhabi’s bourse despite stock sell-off The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […] June 28, 2023
Markets UAE stock markets surge $60bn in value in H1 2023 The market value of UAE stock exchanges rose by AED220 billion ($59.89 billion) in the first six months of 2023 to AED3.43 trillion, boosted by higher demand from foreign investors and new listings. Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), the UAE […] June 28, 2023
Banking & Finance UAE remittance market nears ‘saturation point’ The remittance and foreign exchange market in the UAE is “saturated” and will need consolidation as new businesses continue to emerge. “Either people will have to grow digitally [at scale] to capture market share or they’ll get amalgamated,” said Zahir Moghal, CEO of Abu Dhabi currency provider Delma Exchange. “It’s totally saturated. It’s completely over-supplied […] June 12, 2023
Transport Dubai considers taxi operator IPO as sector surges Dubai is considering a stock market listing for its taxi operator, as the sector surges back to pre-pandemic levels and attracts local and international investment. The emirate’s Roads and Transport Authority (RTA) is in the early stages of considering listing the Dubai Taxi Corporation (DTC) as the latest state-backed entity to list on the Dubai […] May 31, 2023
Analysis Banking & Finance Tadawul and DFM are overvalued, data shows The companies that operate Dubai and Saudi Arabia’s bourses are providing investors with scant returns because of high valuations and low dividend yields following a prolonged Gulf stock trading slump. Dubai Financial Market (DFM) was the first Gulf bourse to go public, in 2007, while Boursa Kuwait and Saudi Tadawul Group followed suit in 2020 […] May 11, 2023
Markets Mena IPO pipeline ‘healthy’ after fall in Q1 listings A “healthy pipeline” of initial public offerings lies ahead for the remainder of this year, experts have told AGBI, despite a fall in Middle East and North African listings in the first quarter. According to the EY Mena IPO Eye Q1 2023 report, the quarter saw 10 stock market listings with combined proceeds of $3.4 […] May 10, 2023
Energy Revenues power up by 7.3% at Dewa Dubai Electricity and Water Authority (Dewa) has reported revenues of AED763 million ($207.78 million) for the first quarter of the year amid increased demand from customers across the board. The Dubai listed company’s first quarter consolidated revenue increase of 7.3 percent year-on-year to AED 5.44 billion was mainly driven by an increase in demand for […] May 8, 2023
Construction Dubai’s DSI launches court case against PwC Dubai construction contractor Drake & Scull International has registered a lawsuit against global consultancy giants PwC in Dubai Courts over a AED5.5 billion ($1.49 billion) black hole in the company’s accounts. The case revolves around the six-year period between 2011 and 2017 when PwC were auditors for DSI and were also in charge of preparing […] May 5, 2023
