Oil & Gas Shell to relocate Madrid gas trading team to Dubai Shell plans to close its Madrid gas trading operations for tax reasons, Spanish newspaper Cinco Dias has reported. Citing unnamed sources, the report said Shell planned to relocate its gas trading staff of 50 people to Dubai, London and Singapore. The staff includes a team handling commercial activities. The Madrid operations were originally part of […] January 15, 2025
Retail Nice One share price up 55% in first week of trading Nice One Beauty Digital Marketing Co’s shares jumped 9.81 percent on Tuesday, beginning the day at SAR49.75 ($13.25) and reaching SAR 54.30 by its close. Eight days after the Saudi cosmetics retailer launched an initial public offering (IPO) for 30 percent of its capital (36.5 million shares) on January 7, its shares have increased in […] January 15, 2025
Finance Saudi Arabia’s Riyad Capital explores $2.5bn IPO The proposed listing of Riyad Capital, the investment banking arm of Riyad Bank, would value the business at $2.5 billion, Bloomberg has reported. Riyad Capital is working with JP Morgan Chase & Co on the plan to list on the Saudi stock exchange, which is expected in mid-2025. Founded in 2008, Riyad Capital offers a […] January 14, 2025
Opinion Markets UAE capital markets are well placed for a stellar year Investor confidence and strong GDP growth point to a good 2025 January 14, 2025
Energy PIF-backed Tabreed explores Saudi listing this year Tabreed District Cooling is planning to launch an initial public offering (IPO) on the Saudi stock market this year, according to a news report. Backed by the Public Investment Fund (PIF), the refrigeration and cooling company has hired Citigroup and SNB Capital for a potential flotation, Bloomberg reported, citing informed sources. While no final decisions […] January 10, 2025
Markets Bahrain bourse launches incentive scheme to revive trading Bahrain Bourse will introduce various incentives next month to try to boost trading on a market that accounts for less than one-thousandth of daily turnover on Gulf stock exchanges. The scheme, which begins on February 2, aims to improve trading activity and increase the number of institutions investing in Bahraini stocks. Its launch comes amid […] January 8, 2025
Analysis Finance Private companies lead Gulf IPOs to raise $12bn in 2024 Gulf initial public offerings raised a combined $12.1 billion last year as companies across myriad sectors including retail, healthcare, energy and financial services went public, deepening and broadening the region’s stock markets. High subscription levels for 2024’s diverse listings demonstrate strong investor interest in gaining exposure to the Gulf’s oil and non-oil economies. There were […] January 7, 2025
Analysis Markets Investor demand lowers yield on China’s dollar bonds Strong investor demand has lowered the yield on Chinese dollar bonds originally sold in Riyadh last November to below those of United States’ 10-year treasuries. This negative spread indicates pent-up demand for similar Chinese paper and could lead Beijing to sell more debt in Saudi Arabia, which is China’s second-largest oil supplier. In mid-November, China […] January 6, 2025
Finance Market cap of UAE stock markets top $1trn in 2024 The combined market capitalisation of the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) exceeded AED3.91 trillion ($1.06 trillion) in 2024, compared to AED3.65 trillion at the end of 2023. Growth was driven by a robust economy, foreign investments, and initial public offerings (IPOs), the UAE state-run Wam news agency reported. The ADX […] January 1, 2025
Analysis Markets Low spreads propel UAE dollar bond issuance to four-year high UAE dollar bond sales in 2024 have hit the highest annual total in at least four years, as corporate and government bodies take advantage of historically low spreads. Issuance in 2025 may reach similar levels, observers believe, as issuers refinance maturing debt. Fifty separate UAE dollar-denominated bond issuances totalled $37.9 billion in the year to […] December 31, 2024
Video length: 03:59 VIDEO Finance Investors wary of inflation as Trump pursues ‘America first’ policy When Donald Trump returns to the White House his “America First” policy is likely to increase inflation and global economic fragmentation, according to analysts. “We [the Middle East] need to be much more picky about particular geographies, asset classes and even themes that we favour,” said Ben Powell, chief investment strategist at BlackRock’s Investment Institute, […] December 31, 2024
Opinion Finance Gulf investors must look out for the American ‘bubble’ Trump's re-election has turbocharged US equities but his unpredictability adds to global risk factors December 30, 2024
Opinion Energy DP World, energy and AI: five predictions for 2025 Let the guessing game begin – but no promises... December 27, 2024
Analysis Markets Gulf jewellery sales suffer from gold’s rich streak High gold prices amid widespread geopolitical uncertainty have dented jewellery sales in the Middle East this year. The trend is expected to continue in 2025. India’s sharp reduction of gold import duties in July, from 15 percent to 6 percent, boosted domestic sales but hit Middle Eastern merchants, according to industry insiders. “After a weak […] December 26, 2024
Analysis Markets Expect a more subdued Dubai bourse in 2025 Following a stellar 2024, Dubai’s index is likely to join other Gulf bourses in experiencing a more subdued 2025. Dubai’s growing population, record tourism and trade revenues and a near-doubling of residential property prices since January 2021 helped to propel the emirate’s bourse to a 10-year peak last week. The benchmark has since retreated slightly […] December 25, 2024
Analysis Markets Talabat and Lulu post-listing slump dims allure of UAE IPOs Talabat and Lulu Retail Holdings were the UAE’s biggest initial public offerings (IPOs) in 2024, raising $3.75 billion amid huge investor demand. But the stock prices of both companies have slid since listing on the Dubai and Abu Dhabi bourses respectively, threatening investor confidence in future UAE flotations involving privately run companies. It has also […] December 23, 2024
Analysis Oil & Gas UAE to shake up old world order as oil trading centre For years, Geneva, London, Amsterdam and Singapore have been the preferred homes of middlemen helping to move crude oil and its derivatives around the world. But recent geopolitical and economic shifts have paved the way for the UAE to emerge as a trading powerhouse, attracting international talent and rivalling the old world order. The UAE […] December 20, 2024
Opinion Finance Powell’s ‘foggy night’ will affect weather in the GCC Jerome Powell talked of driving at a slower speed in the face of unknown challenges ahead December 20, 2024
Markets eXtra to pay ‘exceptional’ dividend of $107m Saudi retailer United Electronics Company (eXtra) will distribute “exceptional” cash dividends for the fourth quarter of 2024 after listing of its shariah-compliant consumer finance business. The company will pay SAR400 million ($106.5 million), or SAR 5 per share, to eligible shareholders who own the stock at the close of trading on December 31, 2024. The […] December 19, 2024
Markets Masdar-backed Infinity Power considers Abu Dhabi IPO Infinity Power, a joint venture between Egypt’s Infinity and the UAE’s Masdar, is considering listing on the Abu Dhabi stock exchange within the next three years, according to its chairman. “If we’re going to list today, our preference would be Abu Dhabi,” Mansour said. “Maybe that changes in a year or two. It depends on […] December 18, 2024
Markets Dubai index falls from 10-year peak but remains bullish Dubai’s index fell on Wednesday, easing from this week’s 10-year peak, as investors booked some profits from recent gains. Its longer-term outlook remains bullish according to analysts. The emirate’s equity benchmark is up 24 percent in 2024, making it among the top performers globally this year. “From an economic growth perspective, Dubai merits that level […] December 18, 2024
Markets Almoosa Health’s Saudi IPO order book hits $46bn The institutional book-building process for Almoosa Health Company’s upcoming initial public offering (IPO) has reached SAR173 billion ($46 billion) and was oversubscribed 103 times. The company set the final offering price at SAR127 per share, raising SAR1.69 billion on the Saudi stock market listing. The expected market capitalisation will be SAR5.63 billion, making it the […] December 17, 2024
