First Abu Dhabi Bank's Foreign-ownership Change Lifts Abu Dhabi Stocks
First Abu Dhabi Bank's raised cap for foreigners could trigger passive inflows of about $730 million from investors
First Abu Dhabi Bank shares advanced 5 percent, the most in a month.
Stocks in Abu Dhabi reached their highest since September 2014 after the main gauge’s largest constituent implemented a decision to raise its foreign ownership limit.
First Abu Dhabi Bank shares advanced 5 percent, the most in a month.
The raised cap for foreigners could trigger passive inflows of about $730 million from investors tracking MSCI and FTSE Russell benchmarks by June, according to estimates by Mohamad Al Hajj, an equities strategist at EFG-Hermes in Dubai.
“FAB’s weight in the MSCI Emerging Markets index will increase from about 21 basis points to 32 basis points, putting it in the Top 15 banks in EM by weight, from number 33 currently,” he wrote.
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
DIFC Courts Embrace Blockchain Tools For Complex Digital Asset Cases
New custodial and analytics services will allow judges and litigants to better manage disputes involving cryptocurrenci... Read more
UAE Announces Major Changes To Corporate Tax Rules
Changes explain how corporate tax liabilities are settled and give businesses the right to claim payments in certain ca... Read more
Kuwait To Launch Dedicated Banking Crimes Prosecution Office In 2026
New unit in Kuwait will target cyber fraud, cheque offences and financial forgery as authorities step up protection of ... Read more
Islamic Development Bank Approves $1.365bn Financing In 12 Countries
To support development projects, including renewable energy, power networks, transport corridors, water and agricultura... Read more
UAE Tops MENA Crypto Adoption And Ranks 5th Worldwide – Report
World Crypto Rankings 2025 highlights the UAE’s rise as a regional leader in digital assets and tokenisation, with Du... Read more
ADIO, Primavera To Collaborate To Attract High-growth Companies To Abu Dhabi
The partnership will increase cross-border capital flows, deepen investor partnerships and expand the footprint of glob... Read more