United Arab Emirates
Top Belgian crime suspects extradited from Dubai
The Dubai Police announced Sunday the extradition of three Belgian nationals wanted for serious organized crime offenses, including drug trafficking and human trafficking.
Talabat, the Middle East business of Delivery Hero, will list on the Dubai Stock Exchange in mid-December, floating 15% of its issued shares, its German parent said on Sunday, in what will be one of the UAE's biggest IPOs this year.
Founded in 2004 in Kuwait, Talabat has since expanded to serve customers in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq and Egypt © Mena Today
Talabat, the Middle East business of Delivery Hero, will list on the Dubai Stock Exchange in mid-December, floating 15% of its issued shares, its German parent said on Sunday, in what will be one of the UAE's biggest IPOs this year.
Berlin-based food delivery company Delivery Hero bought a majority stake in Talabat in 2015 and said on Sunday that it would retain a majority stake after the IPO.
Dubai-based Talabat plans to pay a minimum dividend of about $100 million in April 2025 after the IPO, according to the statement.
The largest food ordering business in the Middle East could sell stock worth more than $1 billion, Reuters reported earlier this week.
Founded in 2004 in Kuwait, Talabat has since expanded to serve customers in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq and Egypt, with over six million active customers as of the end of July, according to company data.
Reporting by Shivani Tanna
The Dubai Police announced Sunday the extradition of three Belgian nationals wanted for serious organized crime offenses, including drug trafficking and human trafficking.
Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.
The UAE and Chad are stepping up their financial collaboration, following a high-level meeting between UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, and his Chadian counterpart, Tahir Hamid Nguilin, Minister of Finance, Budget, Economy, Planning, and International Cooperation.
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