Financing nature-based solutions in the MENA Region

Financing nature-based solutions in the MENA Region

Public-private partnerships exemplify such collaboration, with government support bolstering confidence among private investors and financial entities to co-invest in NbS projects

TURKEY

Turkey’s central bank stuns with interest rate at 50%

The bank has now raised its key one-week repo rate by 4,150 basis points from 8.5 per cent since last June

Abu Dhabi’s IHC mulls listing holding firm 2PointZero

Abu Dhabi’s IHC mulls listing holding firm 2PointZero, says CEO

The newly created holding firm with assets worth $27bn (Dhs100bn) is set to go to the market “sometime next year”

Lulu Hypermarket

LuLu Group’s potential Abu Dhabi IPO could top $2bn

LuLu’s potential IPO is poised to be among the most notable listings in the Gulf region this year

Parkin IPO pops 35% on debut Dubai listing

By the end of Thursday, Parkin’s share price soared to Dhs2.84, putting the company’s market capitalisation at Dhs8.5bn

Franklin Templeton expands global reach with Saudi Arabia office

Franklin Templeton opens in Saudi Arabia with key hires to tap deals

Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform

UAE FDI in investment in early 2024 - Image-by-WAM

UAE’s FDI estimated at $2.5tn by early 2024: UAEIIC secretary-general

This robust financial footprint strengthens the UAE’s position as a significant global economic force

UK’s abolition of non-dom tax status: How Dubai stands to benefit

By April 2025, a revamped tax regime will take effect, stipulating that all foreign income and gains will become taxable after just four years of UK residence

ADX, Eureeca partner to expand IPOs globally

ADX, Eureeca join forces to expand global investor access to IPOs

The initiative is expected to tap into the growing interest from regional and global retail investors, and high net-worth individuals

LME to list Jeddah port as a delivery point

LME to list Saudi Arabia’s Jeddah port as delivery point for copper, zinc

The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions

EFG Hermes exit Oman

Egypt’s EFG Holding notches up record revenues

One of Egypt’s biggest banking and investment firms has recorded that its net profit after tax and minority interest rose 39 per cent year-on-year

Moove raises USD100m in series b round Image Moove

Moove raises $100m in Series B round: Mubadala, Uber invest

The funding comes after a year of significant growth for Moove that saw the company increase its annual recurring revenue to more than $115m

UAE banks set for another year of record growth

UAE banking sector assets hit record Dhs4.1tn in 2023

Total deposits of resident and non-resident customers with UAE banks rose by 13.5 per cent YoY to reach Dhs2.5tn

UN-backed NZBA to report capital markets-related emissions

UN-backed NZBA to report capital markets-related emissions

The guidelines require banks to report capital markets emissions, such as those tied to money raised for companies via bond or share issues

GCC IPO momentum to remain robust in 2024

Here’s why the GCC IPO bonanza is here to stay

The GCC region is set to see more equity capital markets activity in 2024 as more companies are considering public listings amid a global slowdown

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital

Dubai ALEC IPO on the cards

Parkin’s $429m IPO oversubscribed 165 times

Dubai Investment Fund sold 749,700,000 shares, equivalent to 24.99 per cent of Parkin’s paid-up capital

PIF

PIF world’s fifth largest sovereign wealth fund post Aramco stake transfer

The PIF currently ranks number five globally in terms of sovereign wealth funds by asset size

Dubai’s IPO haul hits Dhs34.5bn in three years

Dubai’s IPO haul hits Dhs34.5bn in three years

The emirate’s continued listing activity is being driven by the implementation of various initiatives such as the IPO accelerator programme

Eid al fitr 2024

Eid al Fitr 2024: Saudi banks announce 9-day holiday

Financial institutions as well as academic institutions in the kingdom will shut for an extended period to mark Eid al Fitr

saudi arabia - Vision 2030 - IMF

PIF-backed Jada commits $266m in its first venture debt investment

This investment aims to bolster the growth of the Venture Debt ecosystem in Saudi Arabia.

Egypt raises minimum wage by 50% as part of ‘urgent’ package

Egyptians remit more money home after devaluation

The devaluation was part of an $8bn financial support agreement that Egypt last week signed with the International Monetary Fund

Parkin raises share size allocated to UAE retail investors

Parkin IPO: UAE retail offering increased on strong demand

The company increased the allocation of retail investor shares to 89,964,000 ordinary shares from 74,970,000 ordinary shares

Sanjay Shah

Denmark begins court trial against Sanjay Shah in fraud case

Anthony Mark Patterson, who is seen as Shah’s closest accomplice, was in February sentenced to eight years in prison in Denmark’s first criminal cum-ex trial

Cheyne Capital secures investment from Abu Dhabi’s ADIA

Abu Dhabi’s ADIA invests in private credit fund Cheyne Capital

The investment is for the ninth round of the Cheyne Real Estate Credit Holdings programme bringing ADIA’s total commitment to $831.3m

Bitcoin tops $72,000 as demand frenzy intensifies

Bitcoin hits record above $72,000 as demand frenzy intensifies

The world’s most valuable cryptocurrency has been boosted by a flood of cash into new spot bitcoin exchange-traded funds

UAE President receives Egypt President photo Wam

S&P upbeat on Egypt rating after $35bn UAE deal

Moody’s on Thursday affirmed its CAA1 rating but changed its outlook on Egypt to positive citing significant official and bilateral support

EFG HERMES - gcc economy - sector

EFG Hermes reveals five must watch sectors for 2024

Following the theme of its conference, EFG Hermes highlights opportunities available in frontier emerging markets

Mamou Marianna, the head of Advice Beyond Investing at UBS Chief Investment Office, shares the impact of the global gender retirement gap and it its implications for the Middle East.

The global gender retirement gap and its regional impact

Another important consideration regarding pension allocation and savings for retirement is that women face a higher probability of retiring early

Gold

Gold rally hits pause ahead of US inflation data

Gold set a record peak of $2,194.99 for the fourth straight day on Friday after data signalled a cooling US labour market