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IPO
THIS MORNING: Mubadala eyes stake in Italian telecom giant + Softbank’s Masayoshi Son sounds out GCC investors for AI fund
Plus: Airtel Money shares slip on IPO debut
MNT-Halan launches the region’s only live IPO as the Gulf pipeline stays frozen
The fintech’s local arm will sell 320 mn shares in a fully secondary offering, and…
Gulf stock exchanges are growing in importance, but they’re still a long way from becoming capital market hubs -Fitch
The diagnosis lands in a year when UAE and Saudi IPOs have all but dried…
THIS MORNING: Airtel Money and Lindt steer clear of the UAE as EQT and Alibaba lean in
Plus: UBS says Dubai's bubble risk has eased since March, but the city is still…
M&A
ADX-listed Agility sells its stake in Dubai’s Tristar to India’s Aegis
Aegis will acquire Agility’s 65.12% stake for up to USD 581 mn as part of…
THIS MORNING: Mubadala says Man City saga won’t get in the way of UK investments + Adnoc L&S eyes a stake in Abu Dhabi offshore services firm
Plus: Emirates Islamic sukuk is 2.4x covered on day one
Mubadala’s USD 6.2 bn takeover of Clear Channel secures regulatory greenlight
The sovereign wealth fund is teaming up with TWG Global on the takeover
BlueFive Capital buys into Indonesian shariah fund manager Majoris
The acquisition gives BlueFive a direct line to 700k Indonesian retail investors
Debt
Foreign investors pull USD 2.8 bn from MENA stocks as Mashreq cuts 2026 return outlook
Saudi Arabia bears the brunt of foreign selling, while Oman and the UAE lead…
Mashreq prices CNH 1 bn Dim Sum offering + FAB settles first MENA digital green bond
Mashreq’s three-year paper were priced at 2.50%, some 45 bps inside initial guidance
THIS MORNING: IRH and Zambia move past mining spat + DAE taps Asian banks for USD 2.1 bn in funding
Plus: Kuwait studies access to a pipeline route through the UAE to Fujairah
IMF flags AI leverage, bond yields, and cyber attacks as threats to market calm
The fund also sees softer points in pension funds with illiquid holdings and EMs…
Macro + Economy
Fitch sees UAE non-oil economy shrinking 3.7% in 2026 before rebounding next year
Hormuz disruptions have dented the logistics, tourism and talent advantages behind the UAE’s growth model
UAE approves AED 292.5 bn federal budget for 2027-2029
The three-year spending plan grows 28.3%, even as the federal budget for 2027 comes in…
UAE economy contracts 2.1% in 2Q as war hits non-oil activity
Tourism, transport, and trade took a hit as non-oil GDP shrank 1.1%, leaving first-half economic…
War puts regional growth heads on the path to a contraction
It’s not all bad news for regional growth prospects this year, with windows of opportunity…