Category: Business

Nasdaq Dubai has officially welcomed the listing of USD 500 million Sustainability-Linked Financing Sukuk issued by Emirates Islamic, heralding what the bank describes as the world’s first issuance of its kind. The structure is designed to tie financial terms to environmental and sustainability metrics, reflecting escalating demand in both Islamic finance and ESG markets.The Sukuk is issued under Emirates Islamic’s USD 4 billion Sukuk Programme and attracted strong international interest, with orders totalling USD 1.2 billion, an oversubscription of 2.4

Sammaan Capital will sharply expand its affordable housing lending operations after Abu Dhabi’s International Holding Company invested $1 billion for a controlling stake, the non-banking lender’s CEO, Gagan Banga, told Reuters. The infusion is expected to accelerate the drive toward an assets-under-management goal of ₹1 trillion by fiscal 2027.To underpin its expansion, Sammaan plans to launch about ten new branches monthly, concentrating on tier-4 and tier-5 cities and suburban peripheries. Over the next six to nine months, the

A major cross-border deal is underway as Abu Dhabi’s International Holding Company will invest about ₹8,850 crore to acquire a 43.5 per cent stake in Sammaan Capital, formerly Indiabulls Housing, making IHC the company’s key promoter and granting it control over board appointments.Sammaan Capital, a publicly listed non-bank financial company specialising in mortgage lending, will issue 330 million equity shares and 306.7 million convertible warrants to Avenir Investment, an IHC affiliate, at ₹139 each. The transaction

Aluminium Products Company of Saudi Arabia and Hong Kong–based Asia Aluminum Group have inked a master framework agreement to build the largest integrated downstream aluminium industrial complex in the Kingdom, with planned investment reaching up to USD 500 million. The initiative centres on three joint ventures covering aluminium extrusion, modular housing, and solar panel frame manufacturing.The agreement was signed in Hong Kong by ALUPCO Chief Executive Khaled Abdel-Moneim and AAG Vice Chairman Eric Kwong, in the presence of

Global investment giant KKR has acquired a minority stake in the entity leasing Abu Dhabi National Oil Company’s gas pipeline assets, bridging further into the Gulf’s energy infrastructure sphere. The financial terms were undisclosed; key rights and management powers remain with ADNOC.This marks a continuation of KKR’s partnership with ADNOC: in 2019, it invested in the oil pipeline business—then among the first foreign institutional investments into Gulf energy infrastructure. That holding was sold in 2024 to Abu Dhabi’s Lunate. ADNOC

A joint venture between UAE grocer Spinneys and Philippines conglomerate Ayala Corporation aims to introduce premium supermarkets across the archipelago, with the first outlet slated for the fourth quarter of 2026. Ayala will control 60 per cent of the venture, with Spinneys holding the remaining 40 per cent, launching the Dubai-based brand’s first expansion beyond the Gulf Cooperation Council.The two-phase deal calls for Spinneys to bring its operational know-how initially, before handing over day-to-day management to the new entity. The

A wholly owned subsidiary of the Abu Dhabi Investment Authority has committed as lead investor to a single-asset continuation vehicle by GL Capital centred on SciClone Pharmaceuticals. The move marks a notable entry from a sovereign wealth fund into a GP-led secondary structure in the healthcare sector.The CV is understood to be valued around USD 230 million, according to ION Analytics. ADIA’s subsidiary has not disclosed its exact capital deployment. The transaction enables GL Capital to retain control

Emergent today announced it has secured a total of USD 30 million in funding, led by a USD 23 million Series A round from Lightspeed, marking a strategic push into the Middle East and North Africa region. The Bengaluru-based startup, founded in 2025, is already claiming USD 15 million in annual recurring revenue within 90 days of launch, underlining strong investor confidence in its rapid growth model.The funding build-up includes a USD 7 million seed round earlier this

Nasdaq Dubai has admitted a US$450 million Sukuk issued by Arada Developments LLC under Arada Sukuk 2 Limited’s US$1 billion trust certificate programme. The securities carry a maturity in 2030 and were priced at a profit rate of 7.150 percent.The offering drew orders in excess of US$2 billion, representing over four times oversubscription. The listing increases Arada’s cumulative Sukuk outstanding on the exchange to US$1.5 billion across three issuances.Arada, a UAE-based master developer founded in 2017 and led by Sheikh

VFS Global has priced a seven-year USD tranche of $1,010 million at 250 basis points over SOFR, marking a 50bps tightening from its previous guidance.The loan forms part of a dual-currency raise, with an equivalent euro tranche also in play as part of a broader funding package totalling approximately $2 billion. The dollar portion, priced at 2.50% over SOFR, signals strong investor appetite and confidence in VFS’s credit profile.Market sources suggest that initial guidance for the USD tranche was at

Dubai’s engineering and construction powerhouse ALEC Holdings PJSC has fixed its IPO share price between AED 1.35 and AED 1.40, opening subscriptions for a 20 percent stake in the company. The offering will feature 1 billion existing shares, valuing the company at AED 6.75 billion to AED 7 billion at the time of listing.The subscription period began on 23 September and will close on 30 September 2025, with allocation split across three tranches: 5 percent for retail investors, 94

VFS Global has launched a $2 billion-equivalent term loan facility, securing markedly tighter pricing for its seven-year dollar and euro tranches. The USD portion of $1.010 billion is priced at 250 basis points above the Secured Overnight Financing Rate, about 50bps lower than initially suggested. The euro tranche, amounting to €850 million, carries a spread of 275bps over Euribor, which represents a tightening of around 25bps from prior guidance.The facility will refinance existing unitranche debt maturing in May 2029,

Abu Dhabi has finalised a major agreement to enforce greater transparency in crypto-asset taxation by signing the Multilateral Competent Authority Agreement under the Crypto-Asset Reporting Framework. The deal mandates automatic exchange of tax-related data on crypto transactions across jurisdictions, aligning the UAE with rising global norms on financial disclosure.The Ministry of Finance confirmed that CARF will start operating in the UAE in 2027, with the first cross-border sharing of information slated for 2028. The framework targets entities dealing in

Dubai Health has forged numerous strategic partnerships with leading academic, technology, and government institutions to supercharge healthcare innovation, research and education under its integrated academic health system model. These agreements were unveiled during WHX Tech 2025, held at the Dubai World Trade Centre.A memorandum of understanding between Dubai Health and Siemens Healthineers was unveiled. Its scope includes co-developing innovation programmes, notably the Design4Change Innovation Week scheduled for February 2026, and a separate initiative to launch a sustainability in healthcare curriculum

Sharjah has posted a striking upturn in foreign direct investment capital in the first half of 2025, attracting $1.5 billion, a leap of 361 percent compared to $325 million in the same period last year. The emirate also saw the launch of 74 new projects—57 percent more than in H1 2024—and generated 2,578 new jobs, an increase of 45 percent.The gains are concentrated in four sectors: consumer products, food and beverage, business services, and industrial equipment. Consumer products led

Abu Dhabi-based AD Ports Group has struck a deal with Azerbaijan Transport and Communication Holding to build two shallow-draft container ships of 780 TEUs each at Baku Shipyard. The vessels, intended for operation across the Caspian Sea, are scheduled for delivery in the fourth quarter of 2027.The contract marks the first time an international company has placed a cargo-ship order with Baku Shipyard. The agreement was signed on behalf of Baku Shipyard by AZCON, which is the legal

Al-Futtaim has finalised the acquisition of a 49.95% stake in Cenomi Retail for SAR 2.52 billion, after agreement to purchase shares at SAR 44 per share from major founding shareholders. This marks a significant foreign investment in Saudi Arabia’s retail sector.Under the terms, Al-Futtaim also authorised a SAR 1.35 billion shareholder loan facility to bolster Cenomi’s balance sheet and support planned growth. The loan contains an option for Al-Futtaim to convert some or all of the loan into additional

Air Arabia Abu Dhabi announced it will launch direct flights between Abu Dhabi and Assiut in Egypt, with service starting on 4 November 2025. The route will operate twice weekly, on Tuesdays and Fridays, using non-stop flights between Zayed International Airport and Assiut International Airport.Adel Al Ali, Group Chief Executive Officer of Air Arabia, said the new Assiut service allows travellers to reach Upper Egypt directly from the UAE capital, strengthening ties and enhancing travel options between the two

Majid Al Futtaim has opened six HyperMax outlets in Bahrain, coupled with an online store offering, as it pushes its grocery retail ambitions further into the Gulf market.The launch delivers a brand positioned on local produce, value pricing and convenience, aiming to align with Bahrain’s Vision 2030 goals on sustainable growth and economic diversification. With a workforce exceeding 1,600 staff, HyperMax will draw upon partnerships with more than 250 Bahraini farmers, suppliers and SMEs to bolster supply chains and support

Dubai’s events sector is being reshaped by a new digital platform aiming to simplify how people organise celebrations. The PartyPlatform, founded by Patrick Narracott, has introduced an online marketplace linking customers directly with vendors, allowing users to either hire full-service planners or assemble their own teams of vendors.The business addresses long-standing challenges in event planning, especially in terms of transparency and vendor discovery. Traditional methods often involve sifting through numerous websites or dealing with middle-men, which adds time, cost

Shares of Orascom Construction leapt sharply when the company began trading on the Abu Dhabi Securities Exchange, underscoring investor appetite for infrastructure-linked growth in the Gulf. The stock closed its first session up about 27 per cent at AED 38.10, having opened near AED 30.15, valuing the company at approximately AED 4.2 billion.Orascom Construction shifted its primary listing from Nasdaq Dubai, while maintaining its secondary listing on the Egyptian Exchange. It also initiated the process of changing incorporation from

General Catalyst has led a Pre-Series A funding round in PRYPCO, marking its first investment in a proptech venture in the Middle East. PRYPCO, a UAE-based property technology startup, has so far facilitated over AED 10 billion in mortgages, helped more than 3,000 people obtain UAE Golden Visas, and attracted upwards of 50,000 users to its platforms.PRYPCO was founded in 2022 by Amira Sajwani, who previously held senior roles in major real estate firms. Under her leadership, the company

Abu Dhabi National Oil Company has entered an agreement with RIQ to secure over $500 million in risk coverage across the next ten years. The AI-driven reinsurance platform, backed by International Holding Company, will work closely with ADNOC to structure capital-efficient protection tailored to complex operational, climate-related and specialty risks using advanced modelling and AI-augmented underwriting. ADNOC Secures $500 Million AI-Driven Reinsurance Pact embodies this forward-looking collaboration and underscores Abu Dhabi’s ambition to emerge as a global hub for reinsurance

Entrepreneurship is a challenge, especially when it comes to your own project: a small restaurant, a boutique, or an online store. For many women, starting a business feels like a personal trial, a test of resilience. But in reality, any business is a game, an opportunity to grow, create something of your own, and bring ideas to life. And yes, every business faces crises. But this is a natural environment, like in sports: there are ups and downs, competitors, and

A $2.62 billion, 10‑year credit facility has been secured by Khazna Data Centres, underwritten by a consortium led by Abu Dhabi Commercial Bank and First Abu Dhabi Bank, providing a substantial boost to the company’s strategy for regional and global expansion. The funds are earmarked to accelerate build‑out of high‑capacity data hubs across the Middle East and North Africa, with a clear focus on supporting high‑demand, AI‑intensive infrastructure.The funding comes at a time when data centre capacity in the region is

Sobha Realty, the Dubai-based luxury developer rated Ba2 by Moody’s and BB by S&P, is advancing plans to issue its inaugural green, US dollar‑denominated, Regulation S benchmark sukuk under its established USD 1.5 billion trust issuance programme. The five‑year, fixed‑rate, senior unsecured sukuk offering carries a stable outlook from both agencies.The firm has shifted from tapping into conventional capital markets toward the growing sustainable finance segment. Preparing to launch its first green sukuk, Sobha Realty underscores its intent to align financing strategies with

The Amadea, a striking 106‑metre superyacht once valued at around $325 million, is slated for a sealed‑bid auction in the United States on 10 September 2025, yet mounting litigation and financial burdens cloud its prospects.Built by renowned German shipyard Lürssen and completed in 2017, the six‑deck vessel offers unparalleled opulence: spa, gym, helipad, swimming pool, cinema and marble‑clad interiors by François Zuretti, plus accommodation for 16 guests and 36 crew members. Seized by U. S. authorities in Fiji in 2022 and

Saudi Arabian Oil Company disclosed net profit of $22.67 billion for the second quarter of 2025, marking a 22 per cent year‑on‑year decline and extending the downturn to its tenth straight quarter. The drop coincided with a missing of the $23.7 billion analyst consensus estimate, underscoring pressure from weakening crude prices and softer demand.Revenue downturn was central to this performance. Total income fell to $101.02 billion, down 11 per cent from the same quarter a year earlier, driven by lower crude, refined and chemical product prices, despite

Amanat Holdings has achieved a significant financial return, posting a net cash gain of AED 294 million following the sale of North London Collegiate School’s real estate assets in Dubai. The deal, valued at AED 453 million, marks a successful exit from a property investment held since 2018.The company’s total investment in the Dubai asset amounted to AED 393 million, comprising an initial acquisition cost of AED 360 million and a subsequent capital expansion of AED 33 million. This

DP World has reported a significant rise in revenue for the first half of 2025, with figures climbing 20.4 per cent to reach $11.24 billion. This growth was primarily driven by strong performance in its Ports & Terminals division, as well as the positive impact of acquisitions completed in recent months.The company’s adjusted EBITDA also saw an impressive increase, up by 21.4 per cent to $3.03 billion. This growth in earnings before interest, taxes, depreciation, and amortisation reflects the operational

CI Financial has been officially taken private by Mubadala Capital following the completion of all necessary approvals, effective 12 August 2025. The deal, structured under a statutory plan of arrangement governed by Ontario’s Business Corporations Act, sees Mubadala Capital purchasing all outstanding common shares of CI Financial for C$32 per share, valuing the company’s equity at approximately C$4.7 billion and implying an enterprise value near C$12.1 billion.The transaction adds CI Financial to Mubadala Capital’s expanding roster of asset management businesses,

Abu Dhabi-listed Lulu Retail Holdings has posted a modest profit increase for the second quarter of 2025, with net earnings reaching $57 million, up by 2% year-on-year. The retail giant’s revenue for the quarter rose by nearly 5%, hitting $2 billion. This growth was primarily attributed to like-for-like sales growth of 2.1%, reflecting strong consumer demand across its diverse range of products.In the first half of the year, Lulu Retail Holdings’ performance remained robust, with a 9% rise in net

Amanat Holdings, a Dubai-based company listed on the Dubai Financial Market, has entered into a sale and purchase agreement to divest its real estate assets linked to North London Collegiate School. The deal, valued at 453 million dirhams, marks a significant step in the company’s ongoing strategic restructuring and focus on its core investment areas.The assets in question are situated within a prominent North London location and have attracted substantial attention from investors, both in the region and internationally.