Banking & Finance Cautious Oman’s SWF outperforms global markets Oman Investment Authority’s cautious approach to public market investing enabled it to significantly outperform global benchmarks last year, the sovereign fund’s annual report revealed on Wednesday. These gains helped the OIA, which was created in June 2020 following a government reshuffling of state-owned assets, to increase its portfolio value to OMR 17.9 billion ($46.5 billion) […] August 3, 2023
Analysis Economy Kuwait PM’s in-tray: public debt and budget reform Since Kuwait’s new government took office at the start of June, it has provided Kuwaitis – and many international investors – with much to consider. After just six weeks in office, Prime Minister Sheikh Ahmad Nawaf al-Ahmad al-Sabah’s administration announced a four-year programme featuring 107 major projects. These include completion of Kuwait’s stretch of the […] July 28, 2023
Analysis Agriculture Saudi’s wealth fund enters $7.3bn camel dairy market Saudi Arabia’s Public Investment Fund has established a company to produce and distribute camel milk and other dairy products. Named Sawani, the company is intended to help PIF grow the kingdom’s camel farming industry, in line with Vision 2030 goals to expand the food and agricultural sectors. The global camel dairy market was estimated to […] July 20, 2023
Banking & Finance Abu Dhabi fund may back Telecom Italia’s network bid Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, is in talks with US private equity firm KKR & Co for a joint bid of €23 billion ($25 billion) for Telecom Italia SpA’s landline network. The Abu Dhabi fund will provide equity support for the private equity firm’s bid, Bloomberg reported, citing unnamed […] July 13, 2023
Analysis Banking & Finance Middle East sovereign wealth funds see promise in India Sovereign wealth funds across the Middle East are eyeing up opportunities in India as higher interest rates push emerging markets to the forefront for investors. The latest Invesco Global Sovereign Asset Management Study said that, while Europe and the US continue to hold allure, 100 percent of funds in the region viewed India as an […] July 10, 2023
Banking & Finance Mena wealth funds sharpen up on sustainability Mena sovereign wealth funds’ efforts to improve their governance and sustainability practices to meet global standards appear to be bearing fruit, as they recorded the biggest improvement of all regions in a new analysis. Data platform Global SWF assessed the performance of 100 sovereign wealth funds and public pension funds on their governance, sustainability and […] July 3, 2023
Banking & Finance UAE fund’s plan to take Lazard private falls apart Abu Dhabi’s sovereign wealth fund ADQ held a discussion with US investment bank Lazard Ltd to take it private earlier this year, but the talks fell apart, the Financial Times reported. The meetings were held between New York Stock Exchange-listed Lazard’s outgoing chief executive, Ken Jacobs, and ADQ’s chair Sheikh Tahnoon bin Zayed Al Nahyan, […] June 20, 2023
Real Estate Mubadala co-launches $600m Japanese property fund Sovereign wealth fund Mubadala has launched a $600 million Japanese property investment joint venture, the Abu Dhabi investor said on Wednesday. Mubadala, which has $276 billion of assets under management, has partnered with Canada’s Manulife Investment Management, Connecticut-based Proprium Capital Partners and Tokyo’s Samurai Capital to buy real estate in the world’s third-largest economy. The […] June 14, 2023
Banking & Finance QIA sovereign fund eager to invest in Asia and US Qatar Investment Authority, the world’s 10th-largest sovereign wealth fund by assets, will expand its portfolio in the United States and Asia – particularly China and India – and aims to take advantage of more “investor-friendly” deal terms. Several senior QIA executives outlined the fund’s plans to Bloomberg this week in what were rare public comments […] June 14, 2023
Analysis Business of Sport Sport privatisation next goal for Saudi Arabia Saudi Arabia has revived a blueprint for the future of sport in the kingdom as it looks to increase revenue significantly and attract more of the world’s biggest football names to its fledgling league. Crown Prince Mohammed bin Salman revealed plans this week to transform the Saudi Pro League into a SAR8 billion ($2.1 billion) […] June 7, 2023
Retail Harrods checks into hotels as it awaits return of Chinese shoppers Harrods, the London department store owned by Qatar, has opened its first branded hotel project, diversifying into hospitality overseas as the retail sector faces challenges at home. In late March it launched the Harrods Residence Suite, a two-storey luxury suite in Swire Hotels’ Beijing property the Opposite House. The retailer also has a hospitality outpost […] May 30, 2023
Analysis Banking & Finance Saudi fund buys into US gaming and e-payments firms Saudi Arabia’s sovereign wealth fund has bought shares in gaming, electronic payment and alternative energy companies, increasing the value of its US holdings by 14 percent in the first three months of this year. The total value of holdings held by the Public Investment Fund (PIF) in US listed companies was $35.52 billion as of […] May 18, 2023
Analysis Banking & Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023
Analysis Aviation Emirates’ record dividend lifts total paid to Dubai past $6.5bn The record AED4.5 billion ($1.2 billion) dividend paid by Emirates Group for 2022-23 has pushed the Dubai government’s total earnings from its flagship airline past $6.5 billion. The group’s annual report released last week showed that over the past 34 years, it has paid 28 dividends to its owner – the Investment Corporation of Dubai, […] May 16, 2023
Analysis Business of Sport US sports the latest goal for Mena investors The $500 billion American sports market could be the next target for Middle East investors, analysts have said, as two more NBA teams unveil plans to play pre-season games in the UAE. The Dallas Mavericks will face the Minnesota Timberwolves at the Etihad Arena in Abu Dhabi in October this year. They follow in the […] May 14, 2023
Analysis Banking & Finance Ukraine ceasefire will unlock billions in Gulf-Russia deals GCC investors shelved a potential $15 billion of investments in Russia when Moscow invaded Ukraine, but companies are said to be quietly resuming due diligence in the hope of tying up deals when a peace accord is reached. These possible Gulf-Russia deals are mainly in the oil and gas, transport, logistics and agricultural sectors, according […] April 19, 2023
Banking & Finance Sheikh Tahnoun named chair of Abu Dhabi wealth fund Sheikh Tahnoun bin Zayed Al Nahyan has been named chairman of Abu Dhabi Investment Authority as part of a shake-up of the UAE capital’s sovereign wealth funds. The country’s national security advisor, Sheikh Tahnoun is the brother of UAE president Sheikh Mohammed bin Zayed Al Nahyan, who took office last May. Founded in 1976, ADIA […] March 10, 2023
Analysis Markets Mena merger activity hits ‘unprecedented’ levels When Dubai-based headhunter Dulsco acquired Scottish energy personnel specialist Advance Global Recruitment this week, it was the latest deal in a mergers and acquisitions market that analysts say is growing at an “unprecedented” rate. The EY Middle East and North Africa M&A Insights 2022 report found that the Mena region – which historically records 500-600 […] March 8, 2023
Analysis Real Estate Dubai preps office projects to ease supply squeeze Dubai needs a fresh wave of office development, analysts have said, to plug a shortage of prime space that could hinder the government’s efforts to attract more companies to the UAE. “The big story in Dubai’s office market is the shortage of grade A office space,” said Faisal Durrani, head of Middle East research at […] February 22, 2023
Analysis Business of Sport Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Qatari investors’ bid to buy Manchester United FC is “an acid test of whether post-Brexit Britain truly is open for global business”, according to a leading sports academic. Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, confirmed on Friday that his consortium had made an offer […] February 20, 2023
Analysis Banking & Finance Bargain buys and law reforms tipped to drive deal-making When Oman Qatar Insurance and Vision Insurance signed a merger pact in December, it rounded off a busy year of M&A activity in the Middle East. The proposal, which is still subject to approval from regulators and shareholders, was one of hundreds of deals struck across the region. Global law firm Norton Rose Fulbright predicts […] January 25, 2023
Economy Mubadala and Alpha Dhabi to capitalise on discounted assets The move by Alpha Dhabi and Mubadala to join forces and co-invest in credit opportunities does not pose a significant threat to traditional banking structures. Instead, according to Rachel Ziemba, founder of geo-economic advisory firm Ziemba Insights, it will act as a valuable tool to “look for early-stage investments and perhaps pick up assets at […] January 6, 2023
