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IPO
THIS MORNING: Adia cashes in on Innio USD 2.4 bn IPO + IRH passes up Zambia export duty waiver for unprocessed copper
Plus: Midday work ban starts on 15 June
THIS MORNING: Dubai-based Apparel eyes listing for its Indian business + DMCC rolls out an incentive package for firms
Plus: The UAE is set to be the first country outside the US to offer…
Muted AI exposure and war spell trouble for Indian equities
Foreign investment in Indian stocks dropped to a near 10-year low
Mega-IPOs may be rewriting the rulebook for indices and retail investors
SpaceX’s IPO is allocating an unprecedented 30% of shares to retail investors
M&A
Julphar wraps up UAE pharmacy divestment, another gifting startup raises capital, Vara clears another crypto player, European tech heavyweight chooses the UAE
The pharma manufacturer completed the sale to Al Batha Group
THIS MORNING: Botswana in talks with UAE, Oman over diamond producer takeover + Barakah nuclear plant could be in for more protection
Both countries would back Botswana in making a play for De Beers
Abu Dhabi government takes control of T10 cricket competition, plans to take it global
The move folds cricket into Abu Dhabi’s wider sports investment strategy, which has seen it…
e& sells Careem stake to Uber and opens up a path for Uber to fully own Careem again
The acquisition comes almost three years after Careem spun out its super app operations into…
Debt
THIS MORNING: DIB tests appetite for Gulf debt + Middle Eastern airlines could be staring down a collective loss for this year
Plus: ADX and DFM-listed firms brought in USD 17.4 bn in 1Q
MGX invests in Anthropic’s latest funding round + the latest T-sukuk was oversubscribed, again
MGX first invested in the firm back in February
Emirates NBD provides AED 367 mn facility for Dubai ultra-prime property portfolio
The facility is backed by 19 luxury residences
Core42 secures USD 550 mn from HSBC to scale AI infrastructure abroad
The G42-owned firm will use the funds to accelerate cloud and compute deployments across…
Macro + Economy
UAE’s non-oil sector saw slight improvement in May, but softening demand is still weighing on firms
Positive sentiment around a potential agreement from the US and Iran helped boost the recovery
Signs that global economic growth could take a serious hit due to US-Iran war are mounting
The OECD warns of the worst slowdown in decades, barring the Covid-19 pandemic and the…
UAE non-oil GDP jumps 6.8% in 2025
The UAE economy expanded to AED 1.9 tn in 2025
Another AED 1.5 bn of help coming to Dubai
This package brings total economic relief introduced over the past two months to AED 2.5…