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

eyewa

UAE startup eyewa raises $21m in Series B funding round

Eyewa aims to take its e-commerce model and expand into brick-and-mortar retail operations at key locations in the region

IHC becomes UAE’s most valuable company after unit list

Alpha Dhabi traded as high as Dhs20 in a direct listing

HSBC commits $5bn for UAE businesses with global growth plans

Incentives, including green lending discounts and certifications, access to targeted growth programmes, and trade-related benefits, will be offered to businesses that meet the required criteria

Wealth management of tomorrow: Emerging trends within the regional landscape

Global trends of investing with purpose have been reflected regionally as well

Why now is the time for banks to strategically review their IT spend

To deliver the future of banking, managing IT spend needs a new approach

Deutsche Bank partners with Oracle to accelerate its digital transformation

The two companies have also agreed to form a joint innovation partnership

Subsidiary of Abu Dhabi’s International Holding Company to list on ADX

The company has Dhs10bn in paid-up capital

Qatar’s wealth fund says crypto needs to mature after wild ride

Bitcoin has lost more than 50 per cent from its mid-April high of almost $65,000

Kuwait’s $134bn pension fund has record gain in turnaround

The $134bn pension fund recorded 20.9 per cent growth in assets in the year ended March 31

Oman

Oman to introduce new long-term residency programme for foreign investors

Starting September 2021, the Investment Residency Programme will offer renewable five and ten-year visas subject to applicants meeting specific criteria

Mideast joins bitcoin craze with first crypto listing in Dubai

The Bitcoin Fund invests in long-term holdings of Bitcoin as a safer alternative to direct investments in the cryptocurrency

UAE’s Emirates Development Bank, NBQ partner to facilitate SME financing

The MoU will cover credit guarantee and co-lending programmes

Dubai UAE

Dubai repays 10-year $500m bond certificates

The 10-year note, under the Euro Medium Term Note Programme, reached maturity on June 22, 2021

UAE Central Bank sees inflation picking up in second half

Gross domestic product is seen rising 2.4 per cent this year

China crypto clampdown sends bitcoin closer to key $30,000 level

Bitcoin has roughly halved from a record of $65,000 in mid-April

Mubadala-backed Dubai fintech startup loads up on debt financing

Tabby has raised more than $30m in funding from local and global investors

Yahsat eyes first Abu Dhabi IPO since 2017

The satellite operator plans to list a stake of as much as 40 per cent next month

Antoun Massaad is the CEO of Cedar Rose

How businesses in the MENA region can enhance their due diligence processes

Adequate due diligence can help prevent businesses from facing potential financial and reputational losses through their association with untrustworthy entities, says Antoun Massaad, CEO of Cedar Rose

New giant Saudi pension fund aims to crack world’s top 10 ranks

Saudi Arabia has been taking steps to merge and restructure various entities as it looks to boost efficiency

UAE’s Emirates Development Bank allocates Dhs30m to finance SMEs through Beehive platform

The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request

Wealth management 2.0: How has the regional landscape evolved

Wealth management has gone through layers of disruption to morph into its current advisory form

Saudi Arabia to form entity with $29bn in equity holdings

The funds hold significant stakes in Saudi Arabian firms

Commercial Bank of Dubai Network International

Commercial Bank of Dubai partners with Network International for pre-approved business loans

CBD will offer business loans to Network’s retail and ecommerce clients against their Point of Sale machines or payment gateway proceeds

Nasdaq Dubai Indonesia Government

Indonesian government lists three sukuk valued at $3bn on Nasdaq Dubai

The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn

Kuwait

Kuwait hasn’t renewed wealth fund’s board since term expired

Its board is appointed by royal decree for a four-year term and members can be reappointed

Dubai’s Damac appoints new chairman, forms committee to assess Sajwani’s offer

Hussain Sajwani resigned as its chairman last week after his investment firm offered to acquire 100 per cent of Damac

Bitcoin reaches highest level since May as chartists eye $50,000

Cryptocurrencies have been under pressure in recent weeks, with Bitcoin losing about 30 per cent since mid-April