The UAE has aligned weekends with global markets to outcompete Saudi. High oil prices have restored balance to Abu Dhabi’s finances, freeing up resources for capital projects and fiscal support for small and medium-sized enterprises.The UAE has aligned weekends with global markets to outcompete Saudi. High oil prices have restored balance to Abu Dhabi’s finances, freeing up resources for capital projects and fiscal support for small and medium-sized enterprises.The Dubai Expo will anchor a recovery in the tourism and hospitality sectors, boost consumption and have positive spillover effects in the struggling real-estate market.
MARKET OVERVIEW
UAE’s Anghami, first Arab tech company to list on Nasdaq, begins trading
(Source: Gulf Business)
MENA music streaming platform and service Anghami begins trading in the US today, February 4, 2022.
The first Arab tech company to be listed on Nasdaq, Anghami, will trade under the tickers ‘ANGH’ and ‘ANGHW’. The company completed its merger with Vistas Media Acquisition Company (VMAC), a statement said. Eddy Maroun, co-founder and co-chief executive officer of Anghami, commented, “Today marks the end of a long journey toward listing on NASDAQ, but also...
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BitOasis expands token offering - Lists Cardano & Solana among other popular crypto assets
(Source: Khaleej Times)
BitOasis, the Middle East and North Africa's leading online crypto-asset trading platform, today announced that it is listing four new crypto assets to proactively meet growing consumer demand. The meticulously curated list includes some of the largest crypto assets by market capitalization - Cardano (ADA), Solana (SOL), Polkadot (DOT), and Cosmos (ATOM). BitOasis users can buy, hold and sell these tokens on the platform
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Corporate tax new milestone in diversification drive
(Source: Khaleej Times)
The UAE will be marking a milestone its diversification drive with the introduction of a 9.0 per cent federal corporate tax on business profits starting from June 1, 2023, the Finance Ministry announced on Monday.For the UAE, which has already set its target for its next 50 years of growth, the move marks a critical shift from its long-held status as a tax-free haven for business and commerce....
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AD Ports set to list on ADX; raises Dh4b to fund growth plans
(source: Khaleej Times)
Abu Dhabi Ports Group on Monday announced that it raised Dh4 billion new capital through a primary issuance and it will be listing on the main market of the Abu Dhabi Securities Exchange (ADX).In a statement, the operator of industrial cities and free zones in Abu Dhabi said, shares will be listed under the trading symbol ADPORTS on February 8.It further said Dh4 billion cash proceeds
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