Banking and Finance Abu Dhabi bank FAB withdraws offer for Egypt’s EFG Hermes First Abu Dhabi Bank (FAB) has withdrawn its offer for a controlling stake in Egyptian investment bank EFG Hermes, citing global market uncertainty. FAB’s non-binding offer in February to buy at least 51 percent of EFG Hermes, valuing Egypt’s biggest investment bank at nearly $1.2 billion, could have secured access to EFG’s strong franchise in […] April 14, 2022
Energy Dubai utility DEWA to raise $6.1 billion in biggest Gulf IPO since 2019 DEWA will add to growing volume from issuers in the Gulf, where $3.5 billion has been raised from IPOs this year, data from Refinitiv shows, exceeding European listings even as global markets remain volatile after Russia’s invasion of Ukraine. Dubai’s deputy ruler and finance minister Sheikh Maktoum Bin Mohammed said in a tweet that DEWA […] April 6, 2022
Real Estate UAE’s Aldar Properties buys beach property in Ras Al Khaimah Abu Dhabi’s Aldar Properties, through its investment arm, has acquired the “Rixos Bab Al Bahr” beach property in the emirate of Ras Al Khaimah for 770 million dirham ($210 million), it said on Friday. The acquisition will bring its total investment in Ras Al Khaimah to 1.5 billion dirhams, including the earlier acquisition of Al […] April 2, 2022
