India’s “global reputation is on the line”, Gandhi said, after the OCCPP report, carried by London’s Guardian and The Financial Times, alleged financial violations by the politically connected Adani family
Capital Markets
Adani Enterprises
Adani scandal: Fresh accusations of stock manipulation levelled against India company
The Group denies any wrongdoing after an OCCRP report that millions were invested in Adani stocks by ‘opaque’ Mauritius-based funds
Adani Enterprises
Adani scandal: India reveals investigation into Adani freefall, potential to tank country’s banks
The country market watchdog is also reportedly examining the rout of Adani Group shares and looking into any ‘possible irregularities’ in the $2.45 billion FPO of its flagship company
Capital Markets
Dubai Financial Market-listed companies dazzle the Big Apple in a roadshow
A two-day international roadshow, organised by DFM and Bank of America, witnessed 35 institutions conduct 82 meetings with the 10 Dubai companies
Capital Markets
Dubai Financial Market, Dubai World Trade Centre team up to hold MENA region’s first IPO-focused summit
The launch of the event series comes at an opportune time for Dubai and the wider region’s investment community following record IPO activity in 2022
Apple
And then there were none…Apple drops out of $2 trillion market cap club
Exactly one year after it reached the $3 trillion mark, Tuesday’s drop in stock prices saw its valuation fall to $1.989 trillion
Abu Dhabi Securities Exchange
UAE, Saudi stock markets open 2023 account in green
Abu Dhabi’s main stock index advanced 0.41 percent, while Saudi Stock Exchange’s main index ended trading higher on Monday, gaining 31.67 points
Capital Markets
Why Dubai and UAE lead the MENA region for foreign direct investment
Attractive capital markets and a strong government-backed business environment for entrepreneurs and foreign investors have helped propel the UAE to success
Capital Market Authority
Saudi Arabia announces new rules for foreign investors
The latest proposals are expected to have a positive impact on encouraging foreign investment in the Saudi capital market, besides increasing its attractiveness and efficiency and enhancing its regional and international competitiveness
banking business
Dubai Islamic Bank, Al Ramz Corporation strikes strategic partnership for capital market services
Under the partnership, DIB will provide brokerage and related services to its clients through Al Ramz Capital, a subsidiary of the Al Ramz Corporation
Capital Markets
Increased trading and new IPOs help DFM’s net profit surge to $24.83 million
Market capitalisation of listed securities increased 40 percent to AED575.5 billion
Capital Markets
UAE Financial Markets Association signs pact with ICMA to boost bilateral cooperation
The agreement also covers exchange of expertise and information on regulatory developments and international best practices in the financial markets sector
Abu Dhabi Securities Exchange
UAE stocks gain $2.7 billion on Wednesday
The gains were notable in the realty, banking and telecom sectors and cash inflows by institutions and individuals
automobile industry
Volkswagen to list biggest Porsche IPO, valuing sports carmaker at $84 billion
The offering could value Porsche between 60 billion and 85 billion euros ($84 billion), and is targeted for the end of September or beginning of October and is expected to be completed by year end, subject to capital market conditions
Abu Dhabi
ADX most preferred exchange for foreign investors in the Arab region
Nearly 27 percent of value of all transactions in the region is done at the Abu Dhabi Exchange, says an Arab Monetary Fund report
Capital Market Authority
Saudi capital market regulator nabs two unauthorised Swiss brokers
The CMA has carried the referral of the two companies to the public prosecution
Capital Markets
Experts optimistic of Dubai’s capital market, as TECOM Group debuts on DFM
The IPO comes as Dubai, and the wider Arabian Gulf region, aims to develop its capital market scene