#finance

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

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

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 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

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

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

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

Understanding the impact investment mindset

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

Finance chief who steered Saudi Aramco through IPO to step down

The company is set to name Ziad Al-Murshed as chief financial officer, replacing Khalid al-Dabbagh

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

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

Here’s how you can allocate your investment portfolio in the current market

It is important to maintain liquidity while also diversifying your assets, according to AIX Investment Group

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

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

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

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

Saudi wealth fund PIF leads investment in $800m Middle East infrastructure fund

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries

Emirates Development Bank

Abu Dhabi’s Emirates Development Bank closes $750m five-year bond

This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme

Emirates-NBD

Emirates NBD lists $750m bond on Nasdaq Dubai

Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn

Shailesh Dash

How investing in big tech stocks can counter market volatility

Tech growth stocks continue to offer opportunities for investors due to their strong future potential, states entrepreneur and investor Shailesh Dash

Co-Founders Urban Company

Urban Company raises $255m in Series F funding round

Founded in November 2014, the company with operations in several countries including the UAE and Saudi Arabia is now valued at $2.1bn