Skip to content Skip to Search
Skip navigation

Abu Dhabi, Bahrain stock markets in talks for ‘strategic partnership’

By Shane McGinley
Officials from Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) meeting this week. Source: Bahrain Bourse

Officials from Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) this week held meetings to discuss developing a strategic partnership to enhance greater cross-border cooperation between the two stock market exchanges.

The discussions build on a cooperation agreement signed in November 2021, which aims to achieve synergies, enhance market liquidity and promote innovative products and services, both bourses said in press releases issued on Thursday.

Sheikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and Vice Chairman and Managing Director of Bahrain Clear, said: “Bahrain Bourse and ADX are making strong progress on a range of strategic initiatives that support the further growth and diversification of the regional economy. We look forward to launching these initiatives later this year.”

Saeed Hamad Al Dhaheri, Managing Director and CEO of ADX, added: “Our exchanges are making strong progress in the implementation of an action plan that will provide significant opportunity to issuers and regional and global investors. We hope that this partnership will serve as a template for broader relationships with a number of regional exchanges in the coming years.”

ADX was launched on November 15, 2000, while Bahrain Bourse has been established since 1987.

Reuters reported on Thursday that most Gulf bourses tracked global shares lower, resulting in price corrections following recent significant increases. ADX fell 0.6 percent to 9,846, while Bahrain was down 2.1 percent to 1,922.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]