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Threads on regulatory news from companies
Threads on regulatory news from companies
Nasdaq Dubai has announced the launch of the New Development Bank's (NDB) USD 50 billion Euro Medium Term Note (EMTN) Programme on its exchange. This initiative is designed to support NDB's mission to fund infrastructure and sustainable development projects in BRICS nations and other emerging economies. The UAE, a member of NDB since 2021, is strengthening its partnership with the bank through this programme. The EMTN Programme, which is also listed on the Financial Conduct Authority's register and the London Stock Exchange, is rated "AA" by Fitch and "AA+" by S&P. It offers NDB a flexible framework to issue debt instruments, enhancing its access to global capital markets. Established in 2015 by BRICS nations, NDB focuses on projects that promote economic growth, social inclusion, and environmental sustainability. The UAE's membership in NDB, with a capital subscription of USD 556 million, boosts the bank's financial capacity and global reach. Monale Ratsoma, NDB's Vice-President and Chief Financial Officer, highlighted that the listing on Nasdaq Dubai provides access to a broad investor base, aiding in the mobilization of long-term capital for development projects and aligning with the bank's strategy to diversify funding sources.
Moody's Ratings has reaffirmed Salik Company PJSC's investment-grade credit rating of "A3" with a stable outlook. This decision reflects Salik's low business risk profile, limited competition, and a long-term concession agreement with the RTA. The rating highlights Salik's strong financial performance, operational resilience, and effective capital market strategies. Salik benefits from consistent traffic growth due to favorable economic and demographic trends in Dubai. The company maintains a robust balance sheet, strong liquidity, and significant cash flow generation. As of September 2025, Salik's net debt/EBITDA ratio was 2.61x, well below its debt covenant, and it generated AED 1.47 billion in free cash flow for the nine-month period, marking a 39.5% increase year-over-year. CEO Ibrahim Sultan Al Haddad expressed satisfaction with the rating reaffirmation, emphasizing the company's strong financial position and strategic success. While there are no immediate plans for public debt issuance, the investment-grade rating ensures Salik's readiness to access capital markets if needed.
GFH Financial Group announced the purchase of 563,542 treasury shares, increasing its total treasury shares from 256,446,509 (6.691% of total issued shares) to 257,010,051 (6.706% of total issued shares) as of December 9, 2025. The decision to purchase was made during a board meeting on March 2, 2025, and approved by the authority on October 20, 2025. The average purchase price was USD 0.592. There are 126,249,332 shares remaining for purchase. The announcement was made by Mariam Jowhary, Head of Compliance & AML.