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The bonds have attracted a quality order book of more than $1.4bn
22 October 03:58 PM CBD issues $600m Additional Tier 1 perpetual bonds
Dubai – Mubasher: Commercial Bank of Dubai (CBD) has issued a $600 million Additional Tier 1 perpetual non-call six-year bonds, according to the bank's disclosure to the Dubai Financial Market (DFM) on Thursday. To be listed on the Euronext Dublin …
The bank's total assets reached AED 52.3 billion
22 October 03:33 PM RAKBANK sees lower earnings in 9M
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has reported AED 436.04 million net profits attributable to the owners during the January-September period of 2020, down from AED 839.13 million in the same period of 2019. Lower …
Shuaa will raise $150 million through the issuance
22 October 10:04 AM Shuaa Capital prices $150m bond issuance
Dubai – Mubasher: Shuaa Capital has priced a $150 million bond issuance with a coupon of 7.5%, marked as the first high yield issuance in MENA since the beginning of the coronavirus (COVID-19) pandemic in March 2020. To be listed on the London …
The company's revenues amounted to AED 8.34bn in 9M
22 October 09:48 AM du's profits increase to AED 1.39bn in 9M
Dubai – Mubasher: The net profits of Emirates Integrated Telecommunications Company (du) rose to AED 1.39 billion during the first nine months of 2020, compared to AED 1.29 billion in the corresponding period of 2019. The company's revenues …
The company has generated revenues of AED 38.64bn
21 October 04:44 PM Etisalat reports 4% higher profits in 9M
Abu Dhabi – Mubasher: The net profits attributable to the owners of Emirates Telecommunication Group (Etisalat) rose by 3.7% to AED 6.98 billion during the first nine months of 2020 from AED 6.73 billion in the same period of 2019. The company has …
The issuance has attracted 140 local and international investors
21 October 03:03 PM Tabreed raises $500m from seven-year bond issuance
Dubai – Mubasher: National Central Cooling Company (Tabreed) has raised $500 million from seven-year and 2.5% coupon bond issuance, according to a press release on Wednesday. The issuance has attracted 140 local and international investors, …
The agreement empowers the establishment of ADQ’s new digital bank
21 October 10:19 AM FAB's shareholders nod to transfer of FGB banking license to ADQ
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of First Abu Dhabi Bank (FAB) has approved the transfer of ownership of legacy First Gulf Bank's (FGB) banking license to ADQ Holding.  The agreement empowers the establishment of ADQ’s new …
The bank’s net income declined to AED 6.94bn
21 October 10:08 AM DIB logs AED 3.13bn profits in 9M
Dubai – Mubasher: Dubai Islamic Bank (DIB) registered net profits attributable to the owners of AED 3.13 billion in the first nine months of 2020, down from AED 3.97 billion during the same months in 2019.  The bank’s net income declined to …
Lower net profits are attributed to an AED 101 million increase in provisions
20 October 01:49 PM Sharjah Islamic Bank sees 15% lower profits in 9M
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) recorded AED 353.38 million net profits attributable to the shareholders during the first nine months of 2020, down 14.9% from AED 415.41 million in the corresponding period of 2019. Lower net …
20 October 10:26 AM Emirates Islamic logs AED 311m net losses in 9M
Dubai – Mubasher: Emirates Islamic Bank witnessed net losses of AED 311.24 million in the first nine months of 2020, against net profits of AED 937.18 million in the year-ago period. The bank has incurred losses in the first nine months of 2020 …
20 October 09:53 AM Emirates NBD reports 55% lower profits in 9M
Dubai – Mubasher: The net profits attributable to the equity holders of Emirates NBD declined by 55% to AED 5.64 billion in the first nine months of 2020, compared to AED 12.48 billion in the same period of 2019. Lower net profits are attributed …
The final Forbes list is composed of 750 multinational and large corporations headquartered in 45 countries.
19 October 01:15 PM Saudi Aramco ranked 1st regionally in Forbes "World's Best Employers" list; 26th globally
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has secured the first spot regionally and the 26th spot globally on Forbes’ fourth-annual list of the World’s Best Employers for 2020. Forbes said it partnered with market research …
Shuaa will advise 500 Falcons' portfolio companies
18 October 10:31 AM Shuaa appointed advisor to 500 Startups' Falcons 1 fund
Dubai – Mubasher: Shuaa Capital was appointed by 500 Startups, a global venture capital company, as an advisor to its Falcon 1 fund in MENA, 500 Falcons. The CEO of Shuaa, Jassim Alseddiqi, will represent the company in supporting Falcon 1 fund, …
The concession does not have a confirmed value
18 October 10:00 AM Agility's unit wins concession at Baghdad International Airport
Mubasher: National Aviation Services Co, a 95%-owned subsidiary of Agility Public Warehousing, has been awarded a nine-year concession to provide passenger-handling services at the Baghdad International Airport in Iraq. The concession does not …
Amanat joins other strategic and financial investors
18 October 09:43 AM Amanat invests AED 18m in US edtech company
Dubai – Mubasher: Amanat Holdings has invested AED 18.4 million ($5 million) in BEGiN, a US-based leading education technology company, to become BEGiN’s main strategic partner in MENA. The acquisition is Amanat’s first-ever venture capital …
The impact of the settlement will be registered in the financial statements in Q4-20
15 October 03:50 PM IFA repays first installment in KWD 25m loan
Mubasher: International Financial Advisors (IFA) has repaid KWD 3 million ($9.8 million) as the first installment in a loan amounting to KWD 24.98 million ($81.9 million). The completion of the first payment as agreed in the fourth quarter (Q4) …
The SLB helps investors to hedge portfolios
15 October 03:17 PM Al Ramz's unit executes first Covered Short Selling using SLB facility on ADX
Dubai – Mubasher: Al Ramz Capital, a 99% owned subsidiary of Al Ramz Corporation Investment and Development, has implemented the first Covered Short Selling (CSS) using the Stock Lending and Borrowing (SLB) facility on the Abu Dhabi Securities …
These bonds will be listed on a market outside the UAE
15 October 11:41 AM Shuaa Capital's OGM nods to $150m bond issuance
Dubai – Mubasher: The shareholders of Shuaa Capital have approved the issuance of non-convertible bonds valued at $150 million in one or more tranches in a private placement. These bonds will be listed on a market outside the UAE, according to the …
The deal was executed on around 90 million shares
15 October 10:28 AM DFM announces AED 76m direct deal on Amanat's shares
Dubai – Mubasher: The Dubai Financial Market (DFM) has announced a direct deal implemented on the shares of Amanat Holdings at a total value of AED 76.32 million. The deal was executed on around 90 million shares at a price of AED 0.848 per share, …
The credit facility will enable the company to redeem the Sukuk
15 October 09:38 AM Dana Gas enters $90m credit facility agreement with Mashreq Bank
UAE – Mubasher: Dana Gas has signed a credit facility agreement worth $90 million with Mashreq Bank, according to a press release on Thursday. The one-year facility, which could be extended for additional four years, is priced at an initial 3% per …
The bank is issuing the Additional Tier 1 (AT1) bonds
14 October 11:09 AM CBD starts marketing perpetual dollar bonds
Dubai – Mubasher: Commercial Bank of Dubai (CBD) began marketing the US dollar-denominated perpetual bonds with initial price guidance of about 6.375%, Reuters reported. The bank is issuing the Additional Tier 1 (AT1) bonds that are non-callable …
Around 94% of the bank's transactions have been made digitally
14 October 10:17 AM ADIB sees surge in demand for digital banking services in 2020
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) witnessed a rise in customer demands for digital banking services in 2020, with 75% of its customers using the bank’s digital platforms. The bank has continued to record strong demands for …
The EPS settled at 3.13 fils in the first nine months
14 October 09:51 AM IFA turns to profitability in 9M
Mubasher: International Financial Advisors (IFA) reported net profits attributable to the owners of the parent company of KWD 780,196 ($2.56 million) in the first nine months of 2020, against KWD 4.21 million ($13.78 million) net losses in the …
The company's revenues decreased to AED 90.52m
13 October 12:01 PM Union Properties turns to profitability in Q3-20
Dubai – Mubasher: Union Properties recorded net profits of AED 509.2 million net profits during the third quarter (Q3) of 2020, against net losses of AED 81.56 million in the corresponding quarter of 2019. The company's revenues from contracts …
This fund is part of the EUR 84.4 capital raising process of Oxford Nanopore
13 October 09:48 AM International Holding invests GBP 39m in Oxford Nanopore Technologies
Abu Dhabi – Mubasher: International Holdings Company (IHC) has invested GBP 39 million in Oxford Nanopore Technologies to support the innovation and acceleration of commercial and manufacturing operations at the British company. This fund is part …