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IPO
DIP sets lower price range for IPO — and books were covered within minutes
A stabilization manager is on standby in case the shares slip below the offer price…
THIS MORNING: Investors haggle over DIP’s price tag + an Emirati could enter the race for UN top job
Plus: EGA brings more of Al Taweelah back online
Healthcare moves from summit, Habib Al Mulla goes to Shanghai, no rest for Adia’s India IPO drive, Invictus offloads Merec stake
Mubadala partners with Eli Lilly on localized packaging and logistics for GLP-1s
Dubai Investments ends the UAE’s IPO drought with a 20% float of the landlord behind Dubai Investments Park
The IPO would be the first test of the market in a bumpy year for…
M&A
THIS MORNING: Adipec loses out on Exxon, Chevron execs as fears of regional escalation mount
Plus: Authorities see the UAE-Canada CEPA as adding USD 8.7 bn to GDP by 2033
Amanat enters UK healthcare market with GBP 76 mn Cornerstone acquisition
The acquisition takes Cambridge Health Group past 1k beds just four months after Amanat took…
Apollo buys into Mubadala Capital, bringing USD 5 bn in commitments with it
Apollo is buying into Mubadala Capital as the Abu Dhabi asset manager continues opening up…
Scale AI sets up in Dubai + Edge wraps up CMD stake takeover
Scale AI in DIFC Scale AI sets up shop in the DIFC: San Francisco-based AI…
Debt
UAE SMEs are borrowing again after a punishing year -Beehive’s CEO
The lender expects a record AED 150 mn in October approvals, but it’s keeping…
Arada trims its 2027 sukuk tab + DP World opens Bologna facility
The buyback comes after the developer’s recent USD 400 mn sukuk issuance
THIS MORNING: DP World sets its sights on Canada’s export gateway plan + Pearl Petroleum lines up USD 500 mn bond
Plus: UAE ranked fifth cheapest place to build a data center
Record sukuk issuance lifts Islamic finance as GCC governments lean on the market
LSEG sees Islamic finance assets continuing to grow through the end of the decade…
Macro + Economy
UAE hiring pares back its 2Q losses on a September surge, but trouble in Saudi Arabia clouds 4Q
Large employers in Saudi Arabia have already asked recruiters to pause searches, and the UAE…
IMF sees GCC’s non-oil economy shrinking 0.8% this year as war spreads beyond oil
The 9.1% rebound the IMF expects in 2027 won’t make up the lost ground. Gulf…
French bond spreads hit their widest gap since the 2011 crisis, reviving the eurozone’s bank-sovereign “doom loop” debate
With a EUR 3 tn economy with EUR 3.6 tn of debt, France is more…
THIS MORNING: Taqa taps debt markets for first time since going private + Adia goes back for more of Jio in USD 3.2 bn IPO
Plus: Moody’s see Sharjah’s economy as growing by 5% next year if shipping and travel…