Company Insights Emirates NBD Banking & Finance Emirates NBD News Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024 Real Estate Arada’s $163m land plot to house 50-floor residential tower UAE-based real estate developer Arada will build a 50-storey luxury residential tower adjacent to Dubai International Financial Centre (DIFC). The company purchased a land plot in Zabeel 2 for AED600 million ($163.36 million) from Rital Properties, the real estate subsidiary of Emirates NBD. The 138,466 sq ft land plot is close to Index Tower and […] January 3, 2024 Analysis Banking & Finance New certification to swell sharia-compliant funds A London-based fund manager hopes a pioneering Islamic finance certification can boost sharia-compliant equity investments worldwide and help ensure Muslim clients’ wealth is deployed to meet both their religious ideals and benefit society. Most sharia-compliant equity funds focus on excluding haram industries such as alcohol, tobacco, weapons, pork and gambling. Yet such a methodology has […] December 12, 2023 Analysis Markets Real estate trusts struggle despite strong Dubai market Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […] December 6, 2023 Banking & Finance UAE banks to increase green financing to $272bn Major national banks in the UAE are to boost their green financing commitments, aiming to exceed a collective AED1 trillion ($272 billion), sources have told AGBI. The banks aim to accelerate financing in areas such as assisting businesses in transitioning to zero carbon emissions, particularly in harder to abate and small and medium-sized enterprise sectors. […] December 4, 2023 Sustainability DFM to launch pilot for trading carbon credits Dubai Financial Market (DFM), the operator of the Dubai stock exchange, will launch a pilot programme for trading carbon credits during Cop28. The pilot programme for institutional investors starts from December 4 to 8, 2023, with the offsetting period ending on January 10, 2024, the UAE state-run Wam news agency reported. The inaugural pilot will see […] November 24, 2023 Banking & Finance UAE bank profits grow on greater lending and higher interest The UAE’s top 10 banks expanded their combined net profits in the third quarter versus the previous three months thanks to growing demand for corporate and retail borrowing, improved lending margins and lower impairments. A report by consultants Alvarez & Marsal studied the country’s biggest homegrown lenders by assets including leading duo First Abu Dhabi […] November 23, 2023 Finance Dubai’s investment arm almost doubles profits Transport and finance have helped the Dubai government’s investment body almost double profits for the first half of the year. Investment Corporation of Dubai (ICD) reported an 86 percent rise in first-half net profit on Thursday as earnings from its financial services and transportation divisions surged. ICD, which is the Dubai government’s main investment unit, […] November 23, 2023 Finance Dubai Taxi’s market value forecast at $1.25bn on listing Dubai Taxi Company, a unit of the state-owned Roads and Transport Authority, has set the price range for its initial public offering (IPO) at AED1.80 to AED1.85 ($0.49 to $ 0.50) per share. This gives a market capitalisation of between AED4.5 billion and AED4.6 billion at the time of listing. The subscription period for retail […] November 21, 2023 Finance Dubai Taxi Company to list 25% stake in IPO Dubai Taxi Company has announced plans to launch its initial public offering (IPO) after its legal status was amended to a public joint-stock company. The company will issue 624.75 million shares at a nominal value of AED 0.04 on the Dubai Financial Market, representing 24.99 percent of its total issued share capital. The subscription period […] November 13, 2023 Posts navigation Previous 1 … 8 9 10 … 19 Next
Finance Market cap of top 16 UAE-listed companies hit $591bln The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […] January 7, 2024
Real Estate Arada’s $163m land plot to house 50-floor residential tower UAE-based real estate developer Arada will build a 50-storey luxury residential tower adjacent to Dubai International Financial Centre (DIFC). The company purchased a land plot in Zabeel 2 for AED600 million ($163.36 million) from Rital Properties, the real estate subsidiary of Emirates NBD. The 138,466 sq ft land plot is close to Index Tower and […] January 3, 2024
Analysis Banking & Finance New certification to swell sharia-compliant funds A London-based fund manager hopes a pioneering Islamic finance certification can boost sharia-compliant equity investments worldwide and help ensure Muslim clients’ wealth is deployed to meet both their religious ideals and benefit society. Most sharia-compliant equity funds focus on excluding haram industries such as alcohol, tobacco, weapons, pork and gambling. Yet such a methodology has […] December 12, 2023
Analysis Markets Real estate trusts struggle despite strong Dubai market Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […] December 6, 2023
Banking & Finance UAE banks to increase green financing to $272bn Major national banks in the UAE are to boost their green financing commitments, aiming to exceed a collective AED1 trillion ($272 billion), sources have told AGBI. The banks aim to accelerate financing in areas such as assisting businesses in transitioning to zero carbon emissions, particularly in harder to abate and small and medium-sized enterprise sectors. […] December 4, 2023
Sustainability DFM to launch pilot for trading carbon credits Dubai Financial Market (DFM), the operator of the Dubai stock exchange, will launch a pilot programme for trading carbon credits during Cop28. The pilot programme for institutional investors starts from December 4 to 8, 2023, with the offsetting period ending on January 10, 2024, the UAE state-run Wam news agency reported. The inaugural pilot will see […] November 24, 2023
Banking & Finance UAE bank profits grow on greater lending and higher interest The UAE’s top 10 banks expanded their combined net profits in the third quarter versus the previous three months thanks to growing demand for corporate and retail borrowing, improved lending margins and lower impairments. A report by consultants Alvarez & Marsal studied the country’s biggest homegrown lenders by assets including leading duo First Abu Dhabi […] November 23, 2023
Finance Dubai’s investment arm almost doubles profits Transport and finance have helped the Dubai government’s investment body almost double profits for the first half of the year. Investment Corporation of Dubai (ICD) reported an 86 percent rise in first-half net profit on Thursday as earnings from its financial services and transportation divisions surged. ICD, which is the Dubai government’s main investment unit, […] November 23, 2023
Finance Dubai Taxi’s market value forecast at $1.25bn on listing Dubai Taxi Company, a unit of the state-owned Roads and Transport Authority, has set the price range for its initial public offering (IPO) at AED1.80 to AED1.85 ($0.49 to $ 0.50) per share. This gives a market capitalisation of between AED4.5 billion and AED4.6 billion at the time of listing. The subscription period for retail […] November 21, 2023
Finance Dubai Taxi Company to list 25% stake in IPO Dubai Taxi Company has announced plans to launch its initial public offering (IPO) after its legal status was amended to a public joint-stock company. The company will issue 624.75 million shares at a nominal value of AED 0.04 on the Dubai Financial Market, representing 24.99 percent of its total issued share capital. The subscription period […] November 13, 2023
