Thursday , 24 January 2019

Tag Archives: Finance

Bahrain’s Investcorp, Coller form $1bln European private equity fund

The deal also includes fresh capital for any follow-on investments and future investments Bahrain-based alternative investment manager Investcorp said on Monday it was forming a $1 billion European private equity portfolio with Coller Capital. Investcorp, founded in 1982, is one of the oldest Middle Eastern private equity houses and is targeting $50 billion of assets under management over the medium …

Read More »

New 100% investment law redefines UAE’s business landscape

Among a spate of path-breaking reforms aimed at fuelling economic growth. The new UAE investment law, which allows up to 100 per cent ownership to foreign investors in some specific onshore business sectors, is expected to give a major fillip to private and foreign direct investments (FDIs). In the first quarter of 2019, the government is expected to announce a …

Read More »

Market Soundbites: What is the global outlook for 2019?

ZAWYA’s editor Michael Fahy sat down with Jean-Paul Pigat, head of research at Dubai-based Lighthouse Research, to discuss the big issues impacting global capital markets and the outlook for the year ahead. “When I look at 2019, for the short-term outlook, there are two main economies I am concerned about the first is the United States and the other one …

Read More »

Kuwait’s central bank sets up test ground for fintech

Bahrain has created a fintech regulatory unit and Abu Dhabi and Dubai is cultivating a financial startup scene. Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services, it said on Monday. Kuwait’s regulatory testing framework, known as a ‘sandbox’, will include four phases, with representatives from local banks joining a …

Read More »

Google Pay launched in the UAE

Google Pay will allow users to make purchases using Android devices at stores Internet giant Google announced the launch of its contactless payment service in the UAE, furhter ramping up the competition sector that is gaining wider acceptance. Google Pay will allow users to make purchases using Android devices at stores that accept contactless payments, as well as across all …

Read More »

DIFC will make first investment from $100mln fintech fund “shortly”

Fund is “in the process of being seeded and structured as we speak”, says chief business development officer Salman Jaffery The first investment to be made from the $100 million financial technology (fintech) fund launched by Dubai International Financial Centre (DIFC) is set to be made “shortly”, according to the centre’s chief business development officer, Salmaan Jaffery. Speaking to Zawya …

Read More »

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 …

Read More »

MIDEAST STOCKS-Gulf outperforms emerging market slump, late sales hit Saudi

Big banks boost Abu Dhabi and Qatar Gulf stock markets mostly rose on Monday, outperforming emerging markets globally, though Saudi Arabia closed lower because of a wave of selling in the final hour. MSCI’s emerging market index was down 0.9 percent. Gulf markets have been weakened by the global downturn but many fund managers think that with Brent oil above …

Read More »

League of Arab States and International Islamic Trade Finance Corporation announce cooperation towards intra-Arab trade

The Memorandum of Understanding (MoU) outlines clear objectives aimed at enhancing trade capacities and improving structures and mechanisms of trade cooperation among Arab countries The League of Arab States (Economic Affairs Sector) and the International Islamic Trade Finance Corporation (ITFC) (ITFC-IDB.org), a member of the Islamic Development Bank Group, have signed a Memorandum of Understanding (MoU) towards accelerating cooperation in …

Read More »

High costs and data skills shortage the main barriers to AI in banking: Emirates NBD official

Consultancy firm PwC predicts potential contribution of AI to the economic growth of the UAE to stand at 13.6 percent by year 2030 Artificial Intelligence (AI) is being integrated into many services already provided by banks in the United Arab Emirates, but its high cost and a shortage of specialist data scientists could preclude a more widespread use, according to …

Read More »