???? Talabat IPO is Served!

Hala,

???? A 63-year-old man was arrested in London for allegedly swiping thousands of pounds of prime cheddar! (1) Neal’s Yard Dairy says the cheese caper suspect is in custody, while police confirm he’s been "grilled" and released on bail. Guess he couldn’t brie serious about the law! ????

amana’s Take

• Euro slips as ECB goes full speed ahead on rate cuts!?EUR/USD is sliding downhill, now flirting with 1.0640 as traders brace for the European Central Bank to go deeper with rate cuts than the Fed. The ECB is eyeing a 25 basis point cut in December, and rumor has it they'll keep trimming through mid-2024. Looks like the euro might need a safety net.
• The greenback’s flexing its muscles, bolstered by inflation jitters tied to U.S. fiscal spending. Traders are betting the Fed might get hawkish to keep prices in check. Meanwhile, the euro’s on the ropes, struggling to keep up with Uncle Sam’s brawny buck.
• As if that wasn’t enough, German Chancellor Olaf Scholz is stirring the pot by considering a parliamentary confidence vote that could lead to snap elections. Add this to Germany’s inflation data and the ZEW Survey dropping this week, followed by U.S. inflation numbers on Wednesday, and traders might want to buckle up.

Stock Market Update

???? U.S. stocks took a seesaw ride on Monday, boosted by stocks banking on President-elect Donald Trump’s fiscal playbook! The Dow hit a record high at 44,293.69, up 0.69%, the S&P 500 rose 0.1% to a fresh high of 6,001.35, while the Nasdaq 100 eased 0.05% to 21,106.59—guess it missed the rally memo.(2) ????

???? Similarly, Gulf stocks danced to a mixed beat, swayed by weak oil prices and Fed-fueled suspense. Abu Dhabi slipped 0.1% to 9,436, while Dubai added 0.3% to 4,652.(3) ????

???? Talabat Stocks the Shelves for a Middle Eastern Growth Feast!

Talabat, the Middle East’s go-to for food and grocery delivery, is cooking up a major expansion recipe with its newly launched IPO. As Delivery Hero lines up 15% of Talabat, or 3.49 billion shares, on the Dubai market, the buzz around this $1 billion opportunity is sizzling.(4) ???? With Talabat's CEO focused on high-growth markets like the UAE, Egypt, and Qatar, this IPO could be the secret ingredient to driving long-term returns from a “hungry” 71 million potential customers. ????

???? The Recipe for Success: Highlights

• Share Offering: 15% on Dubai’s exchange, marking one of the UAE’s biggest IPOs this year.
• Market Ingredients: Active in 8 countries with 6 million+ customers (and growing)!
• Dividend Delight: $100 million payout planned for Q4, $400 million for 2025, with future dividends topping 90% of net income. ???
• Key Dates: The final offer price will be set on November 29, and shares will be listed on the DFM on December 10.???

???? Talabat’s Expansion: A Tasty Prospect for Investors

Talabat’s bold move to target existing markets is a strong seasoning for success, aiming to keep loyal customers munching and coming back for more. Proceeds from the IPO will head to Delivery Hero, supporting its ‘corporate goals.’ With shares expected to start trading December 10, Talabat is ready to carve out a massive slice of the region’s delivery market. Investors, prepare your appetites – the Middle East’s growth feast is officially served! ????

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Closer to Home?

• ??? Emaar Properties cashed in big, posting a nine-month profit of AED 8.52B—up 3% YoY as retail sales and real estate demand soared. Revenue? A cool AED 23.8B.(5) Not too shabby for Dubai’s property giant. ??
• ?? Dubai-listed Air Arabia’s net profit took flight in Q3, netting an 8% boost to AED 564M—way above analyst estimates (AED 411.13M)! With revenue up 10% to AED 1.78B, this budget airline's profits are clearly in first class.(6) ??
• ?? According to Fitch Solutions, Qatar’s 2025 outlook is bright! With energy prices high and steady demand, GDP could top 2%. The goal? Less oil, more service sizzle—all for Qatar National Vision 2030.(7) ??

What Else Is Trending

• ?? China’s banks handed out CNY 500B in loans in October—down from last year’s CNY 738B and below the CNY 700B forecast, hitting a 15-year low. Looks like the economy hit “snooze” on borrowing.(8) ??
• ?? Meanwhile, spot gold’s golden glow dimmed a bit and took a 2.5% dip to $2,617.96 on Monday as the U.S. dollar strutted and President-elect Donald Trump’s fiscal agenda cast a shadow.(9) ?
• ? Lastly, oil prices tumbled as China’s stimulus plan fizzled. Brent dropped 2.76% to $71.83, and WTI fell 3.32% to $68.04. Guess the barrels just ran out of steam.(10) ↘?

??Quote of the Day

"There is no sincerer love than the love of food." — George Bernard Shaw, Irish playwright

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amana.app

Sources:(1) NPR, (2) (3) (9) (10) Reuters, (4)(5) (6) (7) Zawya, (8) Trading Economics