![“We have a couple of IPO requests in the pipeline, but on hold [waiting for] improvement of the financial markets,” said Obaid Al Zaabi, the deputy chief executive at SCA Reem Mohammed/The National](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/ZWUFFMDIBGDBS3EFEV5AXXASZQ.jpg?smart=true&auth=1550246d67d44c412d969dc82475291e28022d2fb45e316d761ad0bafab1d728&width=800&height=450)
The Securities and Commodities Authority expects initial public offerings, including that of Emirates Global Aluminium to go ahead this year, provided the financial market conditions improve, according to a top official.
“We have a couple of IPO requests in the pipeline, but on hold [waiting for] improvement of the financial markets,” said Obaid Al Zaabi, deputy chief executive of SCA, on Wednesday. I’m very optimistic that this year will be a good year. We are going to witness improvements. I think the guys will revisit their decision. There is interest from other companies as well.”
IPO activity in the Middle East and North Africa region picked up in the third quarter of 2018, with value of listings rising 21.9 per cent to $349.9 million through four flotations and Saudi leading offerings, according to advisory EY.
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Emirates Global Aluminium delays IPO due to market conditions
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IPO activity could improve with the inclusion of GCC markets in global gauges and regulatory changes, it added.
EGA, the UAE’s biggest industrial company outside the oil and gas sector, said in September it was delaying its IPO due to unfavourable market conditions.
Mr Al Zaabi also said the market regulator will work on introducing this year regulations to help develop green products that comply with sustainability goals.
“The products could be carbon bonds, green bonds or any sort of social bonds connected with the environment to keep it safe,” he said.
“It will be a set of the products that can be developed and introduced as soon as the framework is approved. That’s what we are working on and that [regulation] will be implemented in the first half of this year.”
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
COMPANY%20PROFILE
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
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How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
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Launched: 2016
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Financing stage: Series A ($4 million)
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More than 2.2 million Indian tourists arrived in UAE in 2023
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Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Neil Thomson – THE BIO
Family: I am happily married to my wife Liz and we have two children together.
Favourite music: Rock music. I started at a young age due to my father’s influence. He played in an Indian rock band The Flintstones who were once asked by Apple Records to fly over to England to perform there.
Favourite book: I constantly find myself reading The Bible.
Favourite film: The Greatest Showman.
Favourite holiday destination: I love visiting Melbourne as I have family there and it’s a wonderful place. New York at Christmas is also magical.
Favourite food: I went to boarding school so I like any cuisine really.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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The White Lotus: Season three
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Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
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Power drink: A glass of yoghurt
Role model: Any good man
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Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
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Sector: Logistics
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Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
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TOP 5 DRIVERS 2019
1 Lewis Hamilton, Mercedes, 10 wins 387 points
2 Valtteri Bottas, Mercedes, 4 wins, 314 points
3 Max Verstappen, Red Bull, 3 wins, 260 points
4 Charles Leclerc, Ferrari, 2 wins, 249 points
5 Sebastian Vettel, Ferrari, 1 win, 230 points