Finance
Investors offer US$100 billion for Dubai Ports IPO
Investors offered US$100 billion for shares in the initial public offering of Dubai Ports World. That is 19 times more than the maximum US$4.96 billion the world's fourth-largest container-port handler is seeking to raise in the Middle East's biggest IPO.
News Analysis: GCC funds growing in global stature
The recent Qatari backed bid for the British supermarket chain Sainsbury's may have ended unsuccessfully but Gulf states' interest in western assets looks set to continue. Current credit market concerns aside, GCC funds plan to invest US$17,500 billion over the next decade all around the world.
NoozzVIEW; Islamic bonds forge ahead
Showing little sign of suffering as the conventional finance market has from the credit crisis sparked by the sub-prime mortgage scandal in the US, the market for sukuk or Sharia-compliant Islamic bonds is showing every sign of marching onwards relatively unscathed.
Most significant of the latest developments in a sector facing increasing demand from the worlds 1.6 billion Muslims, is progress in the race among major industrialised nations to be the first to issue sovereign Islamic bonds.
Qatar still in talks to buy EADS stake
Qatar's US$60 billion sovereign wealth fund is still in talks to buy into Airbus parent EADS. "They are still talking to us, but I'm not sure if it is going to be a significant share," Louis Gallois, the European company/s chief executive said on the sidelines of the Dubai air show.
Dubai plans Emirates Air IPO for January
Dubai plans to sell 20 to 30 percent of Emirates airline in an initial public offering (IPO) in January. The shares would list on the Dubai International Financial Exchange (DIFX). Emirates, the largest Arab carrier, said it intends to sell as much as 30 percent of the company in an IPO to help finance more than US$60 billion of aircraft purchases.
Dubai Ports mulling acquisitions to re-enter US
DP World, the container port handler forced to sell its U.S. assets over security concerns, said it was considering making acquisitions in the United States. "We are reviewing it," said Mohammed Sharaf, DP World's chief executive officer, when asked about the possibility of buying in the United States.
Finance
Dubai's Istithmar to open in Shanghai, New York
Dubai government-owned Istithmar opened an office in Shanghai this month and one in New York will open in early 2008, David Jackson, the investment house's chief executive. They will be Istithmar's first overseas offices, Jackson told reporters on the sidelines of a business forum.
Saudi Arabia: Publicly listed companies to double by 2010
The most active initial public offering (IPO) market and largest stock market by capitalisation in the Middle East is set to double over the next two years, according to Brad Bourland, chief economist at Jadwa Investment. Bourland made the remarks during the 2nd Saudi IPO Summit which opened on, 11 November 2007 at the Four Seasons Hotel, Riyadh.
Middle East insurance market turns US$30 billion
UAE minister of economy, Sheikh Lubna al-Qasimi, stressed that the insurance industry has emerged as a "pressing need" for all developmental economic and social programs, especially in light of major expansions in the industry in recent years, providing coverage to an ever-growing array of areas.
Dubai's Emaar plans London listing
Dubai's Emaar Properties, the largest Arab real estate developer by market value, plans to list shares in London in the next 12 months, said the company's chairman.
Borse Dubai expects OMX takeover by end February
Borse Dubai said it expects to complete its takeover of Nordic and Baltic stock exchange company OMX by the end of February, pending regulatory approval.
Bahrain Islamic Bank plans US$1 billion acquisition
Bahrain Islamic Bank (BIsB) is planning a US$1 billion acquisition next year and expects to raise the capital through Islamic bonds. The announcement was made by the acting CEO at BIsB, on the sidelines of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) World Bank Conference on Islamic Banking and Finance.
