DUBAI / WAM Umm Al Qaiwain Coop has offered 2.5 million stocks for public trade, to increase investment in its retail sector. An integral part of Union Coop and the UAE’s largest consumer cooperative, Umm Al Qaiwain Coop will launch an Initial Public Offering from January 21 onwards until February 8. The public will be able to purchase these stocks ...

DUBAI / WAM A new report from Middle East Electricity (MEE) states the GCC requires a combined $131 billion worth of investment in electricity generation, transmission and distribution over the next five years to cope with increasing demand from growing populations, expanding economies and climatic changes. The report, ‘GCC Power Market’, reveals that despite the GCC’s current power-generating capacity of ...

Dubai / Reuters Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 26 percent increase in fourth-quarter net profit on Wednesday, in line with analysts’ forecasts, according to Reuters calculations. DIB made AED1.15 billion ($313.1 million) in the three months to December 31, Reuters calculated from annual statements in the absence of a quarterly breakdown. This ...