Abu Dhabi / WAM Shares in Dubai Electricity and Water Authority (Dewa) surged 15.7 percent on their market debut after its $6.1 billion initial public offering (IPO), the region’s biggest since Saudi Aramco’s. The stellar share rises to AED3.00 in early trade, up from the IPO price of AED2.48, before settling at AED2.87, 15.7 percent up, by the end ...

  VIENNA / WAM The Opec Fund for International Development (Ofid) signed a $100 million loan agreement with the government of Morocco to help build an inclusive financial sector as part of broader efforts to modernise the economy and support the kingdom’s recovery from the Covid-19 pandemic. Under the “Financial and Digital Inclusion Programme”, co-financed with the World Bank, the ...

DUBAI / WAM flydubai, the Dubai-based airline, announced that flights to Taif in Saudi Arabia will commence on April 15 with a daily service. This brings the number of destinations served by the carrier in the kingdom to seven. Ghaith Al Ghaith, Chief Executive Officer at flydubai, said, “We are pleased to see our network grow to offer more than ...