Thursday , 18 October 2018

Investment

ADIB’s right issue more than five times oversubscribed, investors await Q3 earnings

ADIB announces that it has successfully raised 1 billion dirham through a rights issue Adds comments from analysts and major stock market movements in the Gulf. Abu Dhabi Islamic Bank (ADIB), the largest Shariah-compliant lender in Abu Dhabi raised 1 billion UAE dirhams ($272 million) through a rights issue, and the offer was five times oversubscribed, the bank said in …

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UAE Space Agency to unveil investment strategy in October

Total Emirati investments in space sector valued at over $5.98bln so far in 2018 The UAE Space Agency has been preparing a full-fledged strategy to invest in the GCC country’s space sector in cooperation with relevant authorities. The anticipated strategy will be announced next October, according to the local business platform Arabian Business. The strategy aims at reinforcing the contribution …

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All about the green: UAE’s wealthy more likely to invest sustainably

Zawya Express presents the top story, topic or trend highlighted by our editorial team as recommended weekend reading Wealthy individuals from the United Arab Emirates are more likely to place a part of their portfolio in sustainable investments than their global counterparts, according to Swiss investment bank UBS. The bank’s latest UBS Investor Watch report issued on Thursday found that …

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Softbank, Mubadala aim to bring investee companies to UAE and Saudi Arabia

Softbank Investment Advisers says “number one goal” of new office is to bring portfolio companies to the region The head of investment giant Softbank’s new Middle Eastern offices has said that its new regional bases in Abu Dhabi and Riyadh will be used to bring some of the portfolio companies within its $100 billion Softbank Vision Fund to the region. …

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Saudi sovereign fund PIF raises $11bln loan-source

Saudi Arabia’s sovereign wealth fund has raised an $11 billion loan from banks, a source with direct knowledge of the matter said, as it seeks to boost its firepower to finance the kingdom’s economic transformation plans. News of the loan, which was increased from an initial guide size of $6 billion to $8 billion given by sources close to the …

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Mideast firms ramping up investments with an AI on the future

Survey shows 95% believe that AI will have a positive impact on their firm Middle East entities, especially in the UAE and Saudi Arabia, are increasingly streamlining their strategies with artificial intelligence as they see its advantages, which would allow them to keep in step with each other and better respond to the changing needs of their customers, among other …

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Saudi PIF in talks to invest in aspiring Tesla rival Lucid

The talks between privately-held Lucid Motors and PIF underscore the latter’s appetite to invest in electric car makers to diversify the oil-rich Middle Eastern kingdom’s investment portfolio By Dasha Afanasieva, Harry Brumpton, Reuters News PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion deal to take his …

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Saudi Vision 2030 ‘will boost competitiveness,’ WEF says

Saudi Arabia has committed to significant changes to its economy and society as part of its Vision 2030 reform plan Countries across the Middle East are struggling to create diverse opportunities for their youth, according to the latest World Economic Forum (WEF) Arab World Competitiveness Report. However, a number of countries are innovating and creating new solutions to previously existing …

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All quiet on the investment front?: Middle East venture capital funding lower, but market conditions remain positive, funders say

The $112 million raised in VC funding by Mena firms is lower than 2016 and 2017 when big bets were made on Souq.com and Careem Still, Wajdi Ghoussoub, associate director of venture capitalist firm Middle East Venture Partners (MEVP), did not think that the lower value of money invested was an issue for concern. In response to questions by email, …

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Federated Investors, Inc. and International Islamic Trade Finance Corporation to Develop a Trade-Finance Portfolio Focused on Sovereign Energy Sector

The portfolio will be Shari’ah compliant with investments realized through transaction structures that rigorously adhere to Islamic principles Federated Investors, Inc., one of the largest investment managers in the United States, and the International Islamic Trade Finance Corporation, member of the Islamic Development Bank (IsDB) Group, announced an agreement to launch a sovereign energy trade-finance portfolio. The ITFC Sovereign Energy …

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