Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market
Dubai’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago.
Pandemic drags Emirates to $5.5 bln loss, its first in 33 years
Emirates said Dubai’s government would continue to support the airline through the coronavirus pandemic after posting an annual loss of $5.5 billion, its first in more than three decades.
EXCLUSIVE SoftBank tech fund in talks to invest in Dubai cloud kitchen Kitopi-sources
SoftBank Group Corp (9984.T) is in talks to invest in Dubai “cloud kitchen” Kitopi’s latest funding round through its second technology fund, sources familiar with the matter said.
Dubai’s commodities hub plans Gulf’s first blockchain-backed facility
Dubai Multi Commodities Centre (DMCC) plans to create the first precious metals refinery and storage facility in the Gulf region enabled by blockchain technology. The facility will refine and store precious metals including gold, silver, platinum, palladium and rhodium, which will be tokenised on goldexchange.com, a secured trading platform, it said in a statement. As […]
MIDEAST STOCKS Most major Gulf markets rise; Qatar dips
Most major stock markets in the Gulf rose in early trade on Sunday, with property shares boosting the Dubai index, although Qatar bucked the trend to trade lower. Saudi Arabia’s benchmark index (.TASI) added 0.6%, with Al Rajhi Bank (1120.SE) rising 1.4% and SABIC Agri-Nutrients Co (2020.SE) advancing 3.9%. Elsewhere, Bank Albilad (1140.SE) climbed 1%, as the lender completed a 3 billion riyal […]
