Kuwait’s supermarket chain Trolley didn’t just test investor appetite — it filled the cart to the brim. The company’s market debut drew a staggering $2.87 billion in demand, prompting an increase in the size of the offering before the books even cooled. What began as a 30% stake sale was expanded to 35%, lifting the …
Kuwait’s Trolley IPO Rings Up $2.87bn in Orders, Forces Upsize Read More »
Saudi Arabia’s Power Tower Company is preparing to step into the public markets, unveiling plans for an initial public offering and a listing on the main market of Saudi Exchange (Tadawul). The move signals a new chapter for the company, known for its work in power transmission networks, substations, and renewable energy infrastructure—sectors that sit …
Power Tower Company Sets Sights on Tadawul Debut Read More »
Abu Dhabi’s sovereign investor Mubadala Investment Company has placed a calculated bet on Egypt’s fast-scaling grocery disruptor Breadfast, joining a $50 million pre-Series C funding round that signals bigger ambitions ahead. The Cairo-based startup, which began life in 2017 delivering fresh loaves to doorsteps, has since reinvented itself as a multi-service digital marketplace. Today, Breadfast’s …
Abu Dhabi Capital Fuels Breadfast’s IPO Ambitions with $50 Million Boost Read More »
Emirates is widening its Chinese footprint without adding a single new aircraft route of its own. The Dubai carrier has inked an interline agreement with Loong Air, unlocking access to 22 additional destinations across China through shared itineraries routed via Hangzhou, Shenzhen and Hong Kong. For travellers, that translates into one booking, one ticket, and …
Emirates Deepens China Push with Loong Air Tie-Up, Opening 22 More Cities Read More »
Lulu Retail Holdings PLC has closed its 2025 financial year on a high note, posting its strongest performance to date as revenue climbed to $7.9 billion (AED 29.1 billion), a 4.1% rise over the previous year. The group’s net profit reached roughly $205 million (AED 753 million), comfortably ahead of earlier projections. The numbers reflect …
Caution crept across the Gulf’s trading floors on Monday morning, with investors choosing restraint over risk as fresh U.S.–Iran negotiations loom. A second round of talks between Washington and Tehran is scheduled in Geneva this week, reviving a long-running diplomatic effort centered on Iran’s nuclear programme. The renewed dialogue is meant to cool tensions that …
Gulf Markets Drift as Washington–Tehran Diplomacy Keeps Traders on Edge Read More »
The year has barely begun, and Abu Dhabi’s property market is already moving at full throttle. January closed with AED12 billion ($3.2 billion) in residential sales spread across 2,600 transactions, setting an assertive tone for 2026. The real headline, however, lies in where buyers are placing their bets: off-plan developments commanded a commanding 83% of …
Saudi manufacturer Arabian Plastic Industrial Company (APICO) has widened its Islamic financing arrangement with Saudi National Bank (SNB), lifting the total facility to SAR 60 million — roughly $16 million — as it gears up for operational growth. The renewed agreement reshapes and enlarges an existing Shariah-compliant structure, giving APICO more breathing room to fund …
APICO Locks In Bigger Shariah Credit Line as Expansion Plans Gather Pace Read More »
In a year defined by shifting energy prices and global recalibration, ADNOC Group’s listed portfolio turned in a performance that reads less like routine earnings and more like a statement of scale. Across its six publicly traded companies, the Abu Dhabi energy heavyweight recorded combined revenues of AED190.1 billion ($51.8 billion) for 2025. EBITDA climbed …
ADNOC’s Market Machines Roar: Six Listed Giants Deliver $51.8 Billion in 2025 Revenue Read More »
First Abu Dhabi Bank has returned to the debt markets with a confident stride, pulling in ÂŁ450 million from a sterling-denominated bond—its third outing this year and another sign of its steady access to global capital. The 5.5-year senior unsecured benchmark note tightened sharply in pricing, landing at UKT +75 basis points after initial whispers …
Sterling Bet Pays Off: FAB Locks In £450m as Demand Surges Read More »
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