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Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has launched the Nasdaq Dubai Growth Market, a new market under the umbrella of Nasdaq Dubai. The initiative aims to help young businesses and small and medium-sized companies, SMEs, achieve the next phase of their expansion by raising capital through an initial public ...

Dubai / WAM Dubai Financial Market Company (DFM) announced its financial results for the first nine months of the year ending September 30, registering a net profit of AED120.1 million, a 26 percent increase from AED95.5 million in the same period of 2019. Net profit of the third quarter of this year increased 35 percent to AED41.1million, compared to AED 30.4 ...

DUBAI / WAM The export credit agencies (ECAs) of the UAE and Uzbekistan have agreed to bolster and reinforce the trade and economic alliance between the two countries by exploring and boosting opportunities in the export of goods and services. This follows UAE and Uzbekistan’s last month announcement of their expanded partnership to include economy, manufacturing, and business incubators through ...

Bloomberg Eskom Holdings SOC Ltd, South Africa’s indebted power utility, started a billion-dollar round of investments in Africa’s oldest and only nuclear power plant before getting permission from safety regulators that the reactor’s lifetime can be extended. The decision to begin installing new steam generators at the Koeberg plant near Cape Town underscores state-owned Eskom’s confidence that it will win ...

Bloomberg President Donald Trump’s push for a second poll-defying victory is relying on a hallmark of his first — raucous campaign rallies that Trump sees as a crucial sign of voter enthusiasm but that pollsters say may only be cementing his defeat. Trump held three rallies, all in Pennsylvania, with three more scheduled on Tuesday and as many as five ...

Dubai / WAM Commercial Bank of Dubai (CBD) announced the issuance of a $600 million Additional Tier 1 (AT1) perpetual non-call 6-year bond, at a coupon of 6%, the lowest coupon from a Dubai bank issuer to date on a Basel III compliant AT1 bond. The transaction is the bank’s inaugural AT1 issuance, returning the bank to the capital markets ...

Abu Dhabi / WAM The highest number of submissions have been recorded for the 15th edition of the Sheikh Zayed Book Award, as its Reading Panel reported reviewing a record 2,349 submissions across nine categories, from 22 Arab and 35 foreign countries. The Reading Panel concluded its review of all submitted works, the highest number in the Award’s 14-year history, ...

DUBAI / WAM DP World Limited handled 18.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in Q3, with gross container volumes increasing by 3.1 percent year-on-year on a reported basis and up 1.9 percent on a like-for-like basis. On a nine-month basis, DP World handled 52.2 million TEU, decreasing 2.5 percent on a reported basis ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced it rolled out a company setup offer for businesses worldwide. According to DMCC, the offer provides international companies the opportunity to set up a representative office in one of the world’s leading business hubs in as little ...

Bloomberg The US and India are set to sign a defense agreement and boost trade ties in high-level talks that come as the South Asian nation sees its worst border conflict with China in four decades. Secretary of State Michael Pompeo arrived in New Delhi on Monday and along with Defense secretary Mark Esper will attend a 2+2 ministerial dialog ...