Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

10 May 2022

Global Corporations Eye Flourishing Middle East IPO, including BlackRock and Vanguard

The Index Today

The Middle East is continually prospering into a major financial hub with its latest IPO boom attracting prominent foreign investors including BlackRock Inc. and Vanguard Group.

According to Bloomberg News, the Dubai Electricity & Water Authority’s (DEWA) IPO drew in $6.1 billion the previous month, with BlackRock, Fidelity Investments, and Vanguard as some of its significant investors.

HSBC Holdings Plc.’s Head of Capital Markets for the Middle East, North Africa and Turkey, Samer Deghaili noted, “Over the past nine months, we have seen a steady increase in international investor interest in the region.”

This marks a significant change in the history of Middle Eastern businesses who have often had to offer public listings in places like the U.K. and U.S. to attract prominent foreign investors. However, the region’s flourishing markets and IPO booms are now yielding a slew of global funding to regional exchanges, reported Bloomberg News.

©Photo: Financial Times

Clay pottery with table linens