In a move set to redefine the UAE’s mobility landscape, Multiply Group’s subsidiary, Emirates Driving Company (EDC), has completed the acquisition of a 22.5% stake in Mwasalat Holding — with an open road ahead to raise that share to a commanding 50.6%. The deal isn’t just a financial play; it’s a deliberate pivot toward shaping …
The International Monetary Fund painted an unexpectedly upbeat picture for the Middle East, North Africa, and Pakistan, projecting that regional economies will expand by 3.2% in 2025 and accelerate further to 3.7% in 2026 — a marked rise from last year’s 2.1% pace. Oil exporters, buoyed by increased production after the rollback of OPEC+ cuts, …
MENA and Pakistan Economies Defy Headwinds, Poised for 3.2% Growth in 2025: IMF Outlook Read More »
Dubai-based Islamic insurer Salama is taking bold steps to reset its financial footing. The Takaful provider, listed on the Dubai Financial Market, plans to raise up to 175 million dirhams ($48 million) through a Mandatory Convertible Sukuk issuance, following a shareholder-approved capital reduction. The restructuring aims to clear accumulated losses and cancel treasury shares, reinforcing …
Salama Charts a New Course with $48 Million Convertible Sukuk After Capital Shake-Up Read More »
Abu Dhabi’s sovereign-backed investment arm, Mamoura Diversified Global Holding (MDGH), has successfully priced a AED 1 billion ($272 million) five-year Reg S bond, offering investors a 4.20% coupon. The final pricing came in tighter than initial guidance of 4.45%, reflecting strong market interest. Investor demand was robust, with orderbooks exceeding AED 4.7 billion, even before …
Abu Dhabi’s Mamoura Secures AED 1 Billion Bond Amid Surging Investor Appetite Read More »
Abu Dhabi’s district cooling powerhouse, Tabreed, has unveiled the completion of its two largest-ever transactions, setting the stage for a significant leap in scale and operational strength. The company, in partnership with global investor CVC DIF, finalized the acquisition of PAL Cooling Holding from Multiply Group, following all regulatory approvals. Almost simultaneously, Tabreed sealed a …
Tabreed Supercharges Growth with Record-Breaking Deals Read More »
Sharjah has successfully raised 2 billion renminbi—roughly $280 million—through a three-year Panda bond, marking another strategic move into China’s domestic debt market. While the final interest rate remains under wraps, early indications on Monday suggested pricing in the 2.5%–3.2% range. The bond was led by Bank of China, with Credit Agricole (China), JP Morgan Chase …
Sharjah Taps China Market, Nets $280 Million via Panda Bond Read More »
The Government of Sharjah is signaling a return to China’s Panda bond market, having officially appointed banks for a potential issuance. The emirate’s Finance Department, carrying ratings of Ba1/BBB–/AAA from Moody’s, S&P, and Lianhe, has tapped a mix of local and international banks to lead the effort. Bank of China will take the helm as …
Sharjah Sets Sights on China’s Bond Market Again Read More »
Oman has successfully priced a $1 billion seven-year USD sukuk at 4.525%, narrowing the gap over U.S. Treasuries to 60 basis points from earlier expectations of around 95 basis points. The deal, structured under Sukuk Al-Ijara, follows Rule 144A / 3(c)(7) and Regulation S Category 2 guidelines, and is set to trade on the London …
Oman Locks in $1 Billion Sukuk at Sharper Yield Than Initial Hints Read More »
Abu Dhabi’s sovereign investment arm Mubadala, through its unit Mamoura Diversified Global Holding (MDGH), has set the stage for a new USD-denominated 10-year bond under its Global Medium Term Note Programme. Initial price thoughts (IPTs) hover around UST+90 basis points, with bookbuilding kicking off on October 8. The deal is expected to price today, aiming …
Mubadala’s Mamoura Unit Eyes $10-Year USD Bond Launch Read More »
Saudi Arabia’s corporate and sovereign debt market is sprinting ahead, outstripping equity by a three-to-one margin as the kingdom’s largest entities tap capital markets to fund expansion. According to Moody’s, debt issuances have topped $15 billion in the first half of 2025 alone. The Public Investment Fund (PIF), energy titan Aramco, and utilities powerhouse Saudi …
Saudi Debt Surge Outpaces Equity as PIF and Aramco Fuel Growth Ambitions Read More »
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