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Kuwait
Resilient MENA IPO market generates $2.64 billion in Q2 2024, set for strong remainder of year: Report
Q2 global IPO activity experienced 15 percent drop in offerings and 31 percent decline in proceeds
Miscellaneous
Starbucks bets on Chipotle’s turnaround guru to brew up a comeback – but who is Brian Niccol?
The coffee retailer has appointed Niccol as its new chairman and CEO effective September 9
Energy
Oil prices rise as U.S. stockpiles shrink, Fed rate cut bets grow
Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel
Banking & Finance
Dubai’s Salik posts $148.32 million net profit in H1 2024 on 238.5 million revenue-generating trips
This translated to total revenue of AED1.1 billion ($299.48 million)
Energy
UAE’s ADNOC Drilling to join MSCI flagship indexes, boosting global visibility and investor appeal
The company will become the 12th member of the MSCI UAE index after meeting the necessary criteria
Qatar
Doha, Al Rayyan, and Al Wakrah lead Qatar’s $314.47 million real estate growth in July 2024
Transactions increased 26 percent from the prior month
Banking & Finance
UAE nationals receive $691.53 million in home construction tax refunds from FTA
This covers the period since the service was launched and until the end of the first half of 2024
Banking & Finance
Air Arabia reports $188.67 million net profit in H1 2024, continues network expansion and sustainability efforts
The airline achieved a turnover of $449.22 million, a 19 percent increase year-over-year
Economy
UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC
OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May
Banking & Finance
Kuwait Warba Bank’s $500 million sukuk listing on Nasdaq Dubai attracts $1.8 billion in orders
This is the fourth listing under their $2 billion trust certificate program
Banking & Finance
Dubai’s Parkin reports $114.62 million in H1 2024 revenue, expands to 200,400 spaces
The company's Q2 2024 financial results saw a 12 percent increase in total revenues, reaching $55.94 million
Energy
Oil prices decline as OPEC lowers 2024 demand forecast amid China slowdown
Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel
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