05/11/2023
SoftBank nears deal to sell Fortress to Mubadala for up to $3bn: FT
Softbank, Fortress, and Mubadala did not immediately respond to Reuters’ requests for comment.
Alternative Investments
05/10/2023
Saudi hospitality sector receives another $399.7m in international investment
The National Tourism Strategy aims to attract over 100 million visitors by 2030, increase tourism gross domestic product contribution to 10 percent, and create one million jobs in the sector.
05/10/2023
Egypt’s increases expected budget deficit rate to 6.9% for FY23/24: Finance Minister
Earlier this week, Ahmed Kamali, Deputy Minister of Planning and Economic Development, stated that Egypt’s investment plan for the fiscal year 2023/2024, which focuses on two main elements: human development and stimulating the private sector.
05/10/2023
Deyaar reports increase in Q1 2023 profits, exceeding AED 56mln
With profits of AED 56.4 million in Q1 2023, Deyaar achieved a remarkable 125% increase from the same period in 2022
05/09/2023
Markaz sets foundation for solid year with three award wins from Global Finance & Euromoney in Q1 2023
Named Kuwait’s Best Private Bank and Middle East's Best for Investment Research’
05/09/2023
Qatar's QSE inches towards 10,700 levels as demand soars for insurance, realty and banking stocks
The insurance, real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index shot up 0.31% to 10,673.01 points
05/08/2023
Abu Dhabi accounts for 14% of global IPOs in first quarter of 2023
The UAE capital attracted $3bn worth of IPO proceeds in the three months ended March, placing it third worldwide
05/05/2023
AIX Investment Group wins Most Innovative Wealth Management Strategy award at Middle East Wealth Tech Awards 2023
The award honours AIX's innovative approach to wealth management
05/05/2023
Dubai Empower Q1 net profit down 6%, misses estimate
Revenue rises 6% year-on-year
05/05/2023
Aldar Properties reaffirms its commitment to Egypt
The property firm said its investment in SODIC was one of the largest foreign investments in the Egyptian real estate sector
05/04/2023
Saudi’s SABIC Q1 profit plunges as sales prices, volumes fall
It's Q1 net profit dropped 90% as average sales prices and volumes fell.
05/04/2023
Abu Dhabi’s Aldar Properties posts 22% jump in Q1 2023 profit
The developer said its revenue backlog hit a record Dhs18.8bn, which provides visibility over the next two to three years
05/03/2023
Growth in Middle East, Central Asia to slow amid global challenges: IMF
Real GDP growth in the Middle East and Central Asia is forecast to fall to 2.9% in 2023
05/03/2023
UAE’s e& reports consolidated revenue of Dhs13bn in Q1 2023
In the UAE, etisalat by e& recorded 13.9 million subscribers an increase of 6 per cent compared to the same period last year
05/03/2023
Dubai’s TECOM Q1 net profit jumps 34%; beats estimate
CEO says outlook for the rest of the year is positive
05/02/2023
Standard Chartered says Saudi Arabia has opportunities for growth
Standard Chartered has been operating in the Kingdom since 2011 through its capital markets license, and has already set up similar licenses in the UAE and is looking to do the same in Egypt by the end of the year
05/02/2023
Saudi's PIF intends to create 1.8mln jobs: Al-Rumayyan
Al-Rumayyan said that the Saudi sovereign wealth fund has established a total of 71 companies since 2019 in many strategic and vital sectors
04/28/2023
Institutional investors and wealth managers highlight growing creditworthiness of the GCC fixed income market
A further 61% indicate that they generally agree with this view
04/28/2023
Banking sector driving UAE financial markets following positive earnings announcements
In Dubai, Emirates NBD was the best performer
04/27/2023
Dubai records over $517mln in realty transactions Wednesday
The mortgages included 66 villas and apartments