Oman’s Bank Nizwa has unveiled plans to merge with Alizz Islamic Bank in a proposed deal that would also see investment company Ominvest become a strategic shareholder in the Islamic lender. Under the preliminary proposal, Ominvest could acquire as much as a 20% stake in Bank Nizwa by subscribing to newly issued shares. The shares …
Bank Nizwa Moves to Absorb Alizz as Ominvest Lines Up 20% Stake Read More »
Dana Gas has suspended operations at the main production facilities of Iraq’s Khor Mor gas field, citing credible security threats and rising tensions across the region. The company is monitoring developments closely, a spokesperson said. Khor Mor, located in Iraq’s Kurdistan Region, is a key gas-producing facility. The shutdown comes as heightened regional instability raises …
Dana Gas Halts Khor Mor Operations as Security Risks Escalate Read More »
A subsidiary of Dubai Investments is set to acquire an 80% stake in Clemenceau Medical Center (CMC) through a non-cash transaction involving two of the healthcare provider’s existing shareholders. Dubai Investments Industries LLC has signed an agreement for the deal, according to a filing with the Dubai Financial Market. Under the transaction, Khansaheb Investment LLC …
Dubai Investments Arm Moves to Take Controlling Stake in Clemenceau Medical Center Read More »
ABU DHABI: The Abu Dhabi Securities Exchange (ADX) has staged a first for global financial markets by holding its opening bell ceremony aboard a moving passenger train, turning an Etihad Rail service between Abu Dhabi and Fujairah into an unconventional trading venue. The event marked the latest expansion of ADX’s derivatives market, coinciding with the …
UAE Capital Markets Break New Ground as ADX Opens Trading Aboard a Moving Train Read More »
Egypt has recorded its highest-ever level of net foreign currency reserves, with the total surpassing the $55 billion mark at the close of June, marking a significant milestone for the country’s economy. Prime Minister Dr. Mostafa Madbouly announced the achievement during the government’s weekly press briefing, referencing the latest figures released by the Central Bank …
Egypt’s Foreign Currency Reserves Reach Unprecedented $55 Billion Milestone Read More »
Egypt’s central bank has opted to keep its benchmark interest rates unchanged, maintaining a cautious stance as inflation shows signs of moderation while policymakers continue to monitor regional developments and their impact on the economy. Following its latest Monetary Policy Committee meeting, the Central Bank of Egypt left the overnight deposit rate at **19%** and …
Egypt Leaves Interest Rates Unchanged as Inflation Eases and Growth Outlook Holds Firm Read More »
Abu Dhabi-listed ADNOC Logistics and Services (ADNOC L&S) is accelerating its fleet expansion after placing a $900 million order for four next-generation liquefied natural gas (LNG) carriers, strengthening its capacity to serve rising global gas demand. The new vessels, each offering a cargo capacity of 175,000 cubic metres, are scheduled to enter service in 2029. …
ADNOC L&S Deepens LNG Shipping Push With $900 Million Order for Four New Carriers Read More »
Abu Dhabi-based telecom and technology giant **e&** has decided to part ways with its investment in **Vodafone Group**, agreeing to sell its entire 16.21% shareholding in a transaction valued at around **AED 21.8 billion ($5.95 billion)**. The buyer is **Vega**, an acquisition vehicle wholly owned by the French **Niel family group**, marking the end of …
e& Cashes Out of Vodafone, Seals $5.95 Billion Share Sale to France’s Niel Family Read More »
Saudi Arabia’s project awards gathered strong momentum in June, with contracts worth more than SAR29.5 billion ($7.9 billion) awarded across 25 projects, making it the busiest month of 2026 by project count. While May remained the strongest month by overall value with awards exceeding SAR30 billion, June closely followed, underscoring sustained investment activity across the …
The Abu Dhabi Securities Exchange (ADX) is set to eliminate daily trading price limits for Exchange Traded Funds (ETFs) and futures contracts, marking a significant change aimed at improving market efficiency and deepening liquidity. The new framework will come into force on August 3, 2026. By removing daily trading bands, the exchange intends to allow …
ADX Scraps Daily Price Caps on ETFs and Futures in Push for Faster, More Liquid Trading Read More »
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