Bitcoin

Bitcoin hovers around $32,000 after boost from Musk

Musk said Bitcoin mining is “shifting towards renewable energy” and his company will likely resume accepting it as payment for electric cars

Bitcoin slides below $30,000 for the first time in a month

Narratives that had propelled Bitcoin to a mid-April record of almost $65,000 are now being questioned

McLaren gets $760m from investors including Saudi wealth fund PIF

McLaren, controlled by Bahrain’s Mumtalakat, has been hit by the pandemic

Mubadala seeks over $20bn value for EGA in IPO

EGA is the Middle East’s biggest aluminium producer and is equally owned by Mubadala and Investment Corporation of Dubai

Here’s why economic growth must be consistent with sustainable investing

For the private or state investor, there are three ways to make a deeper ESG impact

Qatar wealth fund builds regional hub in Singapore to diversify

The fund has vowed to invest more in Asia and the US as it pursues growth and diversification after years of substantial investment in Europe

Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine

Abraaj, which was headed by financier Arif Naqvi, went into liquidation in 2018

Mubadala satellite operator Yahsat jumps on debut, boosting Abu Dhabi IPO push

Mubadala sold 975.9 million Yahsat shares, representing a 40 per cent stake, for Dhs2.75 each

Saudi automotive startup Speero closes $1.8m pre-series A funding round

Launched in 2017, Speero is a digital platform for automotive after-sales

Saudi Aramco is said to pick JPMorgan, Goldman for gas pipeline deal

The state energy giant is preparing to gauge interest in the assets from potential investors

Abu Dhabi’s ADQ and Qatar’s QIA among investors in latest Flipkart funding round

The latest funding round has boosted the Indian online retailer’s valuation to $37.6bn

Arada gets Dhs250m funding from Dubai Islamic Bank for megaproject construction

The additional funding comes after an initial financing of Dhs300m was secured earlier this year from the bank

Commercial Bank of Qatar withdraws offer to raise stake in National Bank of Oman

The Qatari lender last month had offered $128m to raise its holding to 50.1 per cent from 34.9 per cent

Dubai’s Shuaa confirms talks to set up three SPACs

Shuaa has approached banks to set up three blank-check companies of around $200m each to pursue deals in the energy, finance, and technology sectors

Dubai’s Foundation Holdings boosts Saudi healthcare portfolio

The healthcare and education investment firm acquired 51 per cent of Shifa Al Munthaza Polyclinic

Mubadala’s satellite group Yahsat IPO raises $731m

The IPO gives Yahsat a market value of about Dhs6.7bn

Mashreq Bank Emirates Development Bank

Emirates Development Bank inks MoU with Mashreq for SME credit guarantee programmes

Mashreq will offer financing of up to Dhs10m to SME customers, of which 50 per cent will be guaranteed or co-lent by EDB

Arcapita sells branding firm Stratus at $450m value

Stratus was acquired by Arcapita in late 2017 and its enterprise value has since tripled

Emirates Development Bank

Emirates Development Bank lists $750m bond on Nasdaq Dubai

Dubai’s US-dollar denominated debt listings are now valued at $98.5bn

coronavirus saudi arabia

Saudis may work longer, pay more to fill pension fund gap

The average Saudi life expectancy is 75 years, and the official retirement age is about 60 for men and women

Dubai’s Emirates launches new payment solution in partnership with Deutsche Bank

Emirates Pay is an alternative method for travellers to pay for air tickets purchased online by directly debiting their bank account

Ajman Free Zone

RAKBANK agrees MoU with Ajman Free Zone for SME financing

RAKBANK will offer SMEs and larger businesses based in free zone easy access to account opening services, loans, and credit facilities

Aldar properties abu dhabi

Aldar Properties becomes MENA’s first real estate company to secure sustainability-linked loan

Aldar will invest a fixed amount in one or more ESG projects if it does not reach agreed annual targets

World’s oldest wealth fund swells to record and cracks the top 3

The Future Generations Fund, managed by Kuwait Investment Authority, has risen to a record of about $700bn

Global credit: Hedging bets on the recovery

Security selection will be particularly important within high yield

Understanding the impact investment mindset

Investments in companies that prioritise social and environmental objectives perform as well financially as traditional investments

Standard Chartered opens first branch in Saudi Arabia

The move widens the services Standard Chartered can offer in the country

Shailesh Dash

Phi Trends: Here’s what investors can anticipate for the rest of 2021

2020 has clearly depicted that investors must focus on prioritising companies with sound business models, writes entrepreneur and investor Shailesh Dash

Panasonic sells its entire stake in Tesla to raise cash

Proceeds will be used for investing in future growth

Bitcoin leads broad crypto rally after defense of $30,000 level

The digital currency had reached a record near $65,000 in mid-April