Saudi Press

Saudi Arabia and the world
Monday, Sep 23, 2024

Middle East Financial Powerhouse: UAE Bond Success, Oman's Historic IPO, and Regional Celebrations Highlight Economic Strengths

UAE raises $6.8 billion through bonds; Oman preps for largest IPO, and Egypt plans United Bank share sale. Saudi Arabia marks 94th National Day with grand celebrations and honors 15 startups for marine innovation at the UN Summit.
The UAE Ministry of Finance has successfully raised $6.8 billion through government bonds and Islamic Treasury Sukuk Programs, reinforcing the country's reputation as a robust investment hub thanks to strong investor confidence.

Crossing over to Oman, the state-run OQ Exploration and Production is set to launch the largest IPO in the country's history, with a focus on sustainability, and it's expected to make waves on the Muscat Stock Exchange by Oct. 28.

Meanwhile in Egypt, the central bank is gearing up to sell shares in United Bank by Q1 2025, with the bank's impressive asset growth and profit increases part of a broader strategy to boost national finances through strategic asset sales.

Shifting to Saudi Arabia, the Kingdom recently celebrated its 94th National Day with grand festivities including musical performances, parades, and spectacular fireworks, bringing communities from Riyadh to Jeddah together in national pride.

In the spirit of Saudi Arabia’s 94th National Day celebrations, Jeddah’s Tariq Abdul Hakim Center hosted a memorable event from September 19 to 23, emphasizing the theme of building a nation that honors its heritage while looking to the future.

And finally, contributing to global innovation, Saudi Arabia's Ministry of Economy and Planning recently recognized 15 innovative startups at the UN Summit of the Future in New York, focusing on tackling marine pollution and enhancing ocean health, with winners receiving substantial support to further their groundbreaking work.
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