The UAE’s largest fuel and convenience retailer says that it will be included in the MSCI Emerging Markets Index from May 27
Trading
Dubai Financial Market
Dubai shares lead Mideast gains on property optimism: Inside EM
The Dubai Financial Market General Index jumped about 1 percent as Emaar advanced as much as 2.8 percent, the biggest gain on the gauge in point terms
DGCX
Israeli corporations win approval to trade on Dubai’s gold exchange
Dubai Gold & Commodities Exchange says it has received a permit from the Israel Securities Authority
DFM
Dubai stock market reports drop in net profit despite Q1 trading boost
Dubai Financial Market trading increases to over AED15bn during the first three months of 2021
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Gamestop
GameStop tops list of the UAE’s most popular stocks in a volatile first quarter of 2021
The video game distributor is followed by Tesla and Nio as most traded stocks in the Emirates, according to Saxo Bank
Dubai Financial Market (DFM)
Tristar is set to pull Dubai IPO as investors push back on valuation
Tristar had set the price range for the offering at 2.20 dirhams to 2.70 dirhams per share
Alkuri Global Acquisition
Web doctor Babylon in talks to list via ex-Groupon CEO SPAC
A $550 million cash infusion led by Saudi Arabia’s Public Investment Fund in 2019 valued Babylon at about $2 billion
Arjun Mittal
Avoid all-out attack when investing
Everybody will have their own ideas of what actually constitutes defensive and attacking investments, says Arjun Mittal
Khaled Al Hussan
Saudi Exchange restructures into Saudi Tadawul Group ahead of targeted IPO
The reorganisation and upcoming IPO are part of the vision to place Kingdom’s financial markets among the world leaders
ADNOC
Tristar sets price range for second Dubai IPO in three years
The logistics firm could raise as much as AED777 million from its secondary and primary offerings
Abu Dhabi Stock Exchange
Jordanian shares slip, bucking gains in Mideast peers
Elsewhere in the region, benchmarks rose in Saudi Arabia, Dubai, Abu Dhabi, Bahrain and Kuwait
National Commercial Bank
Kingdom’s largest bank starts trading on Saudi Stock Exchange
Saudi National Bank was created as a result of the historic merger between National Commercial Bank and Samba Financial Group
Dubai Gold and Commodities Exchange
Dubai’s DGCX to launch world’s first Pakistani rupee futures contract
Announcement by Dubai Gold & Commodities Exchange comes on the heels of surging interest in its currency contracts
Baraka
How UAE’s baraka is bringing investing closer to the region’s millennials
After raising $1 million in pre-seed capital raise, baraka launches mobile-only trading platform
Dubai Financial Market
Why UAE stock markets can expect to see increased IPO activity in 2021
Ernst & Young exec says recent Company Law changes will likely lead to an increase in the number of IPO candidates in the UAE
Emaar Malls
Merger plan boosts share price of Emaar Properties, Emaar Malls
Both companies top list of most active shares by value for the day on Dubai Financial Market following announcement about planned merger
Norway
World’s biggest sovereign fund slashes Saudi stocks exposure
Norway’s $1.3 trillion sovereign wealth fund cuts holdings in Saudi shares from $420m to $192m, boosts Qatar portfolio