Abu Dhabi / WAM ADNOC IPO was a tremendous success and drew a very strong response from investors, according to Rashed Al Baloushi, CEO of Abu Dhabi Securities Exchange. In statements to WAM, Al Baloushi said a total of 12,000 investors from 73 nationalities participated in the subscription, with final allocations hitting approximately 90 percent for qualified investors and 10 …

DUBAI / Reuters Major Saudi Arabian real estate developer Dar Al Arkan plans a project in Dubai and is considering whether to invest in Morocco and Europe as it begins to expand internationally, its chairman Yousef al-Shelash told Reuters on Tuesday. “We have a good opportunity now to grow outside Saudi because we have the cash, we have the capability,” …

DUBAI / WAM The UAE Ministry of Finance (MoF) has joined forces with a global fintech conference series to drive innovation, growth and investment in financial, banking and payments technology in the Middle East. The strategic partnership with Finovate Middle East was announced by Younis Al Khouri, Undersecretary of the Ministry of Finance, at an announcement event held in Dubai …