Analysis Gulf healthtech investment is just what the doctor ordered Technological innovation and broader changes in society are shifting the balance of power in healthcare across the Middle East region, increasing investment from entrepreneurs looking to capitalise on the sector’s digital revolution. “The same wave of personalisation and consumerisation that ushered in analytics-based recommendation engines for entertainment has programmed people to want healthcare that is […] January 4, 2023
Analysis Banking & Finance Gulf wealth funds look to snap up ‘cheap’ assets in West Sovereign wealth funds across the Middle East are forecast to take advantage of “limited competition” from global peers this year to pursue “cheap” assets in Europe, the US and other western markets. A sharp drop in stock and bond markets over the past year has resulted in the combined value of the world’s sovereign wealth […] January 3, 2023
Analysis Banking & Finance UK and Saudi Arabia plant seed for closer ties on green finance Saudi Arabia has signed an agreement with the UK to foster greater cooperation on green finance as the kingdom looks increasingly at ethical funding for its transformative giga-projects. Jeremy Hunt, the UK’s chancellor of the exchequer, and Mohammed Al-Jadaan, the Saudi minister of finance, met on Tuesday in London to sign a memorandum of understanding […] December 23, 2022
Analysis Economy Saudi and China sign 34 deals on first day of President Xi’s visit Saudi and Chinese companies signed 34 investment agreements on Wednesday as President Xi Jinping started his visit to the kingdom. The agreements further bolstered trade between the countries which last year exceeded Riyadh’s with the US and Europe combined for the first time. Bilateral trade between Saudi Arabia and China totalled SAR304 billion ($81 billion) in […] December 8, 2022
Analysis Xi Jinping visits Saudi as GCC looks east on trade When President Xi Jinping of China arrives in Saudi Arabia on Wednesday, it is likely to add further momentum to a flourishing relationship with the GCC that surpassed trade with the US and Europe combined last year. Three summits are planned during the three-day visit with over 20 agreements worth more than $29.3 billion expected […] December 7, 2022
Analysis Energy Adnoc chasing global growth with latest venture Abu Dhabi National Oil Company (Adnoc) is creating a dedicated unit for low carbon solutions and international business. It is an attempt to monetise the decarbonisation strategy mandated to it by its board and the wider UAE government. But the company must ensure that any future overseas work does not cannibalise that of the Abu […] December 7, 2022
Analysis Construction Saudi giga-projects: ‘enough work for every sector of the industry’ While much of the global economy is reeling from a sharp slowdown in growth, Saudi Arabia recorded a GDP growth rate of 8.6 percent in the third quarter this year, with its economy being propelled forward by ambitious projects in its tourism sector. The Red Sea Global (RSG) giga-project, which comprises the kingdom’s flagship tourism […] December 6, 2022
Analysis Banking & Finance Dubai’s wealth fund hunts for opportunities after H1 profit The Investment Corporation of Dubai (ICD) said it would remain “cautious and selective” when making new investments, having reported a tenfold annual increase in net profit to $4 billion for the first six months of 2022. Described by ICD as “exceptional”, the results mark a return to pre-pandemic-level earnings by the Dubai sovereign wealth fund, […] December 2, 2022
Analysis World Cup 2022 Saudi and Mexico get back to business after World Cup exit The deepening relationship between Saudi Arabia and Mexico may have been tested for 90 minutes on Wednesday as the central American team prevailed 2-0 in their World Cup match in Qatar. Both teams went out of the tournament due to results elsewhere in their group, but, more importantly, the two countries are enjoying a bounce […] December 1, 2022
Analysis Business of Sport Qatar scores, with vital assists from Iran, Turkey and the UAE Alongside the massive investment and the 12 years of preparation, Qatar has called in more than a few favours to aid the smooth running of the World Cup. While its allies have proved keen to help, Doha has had to tiptoe carefully around the geopolitical faultlines that run through the Gulf. Turkey has sent more […] November 21, 2022
Analysis Development Ooredoo’s PIF deal is the latest in the ‘big telco tower sell-off’ State-owned Qatari telecoms firm Ooredoo’s planned sale of nearly 20,000 towers has attracted bids from some of the biggest names in the business. American Tower Corp, IHS Holding, Helios Towers and Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), are all competing for the acquisition, according to reports by Bloomberg. The newswire cited […] November 15, 2022
Exclusive Banking & Finance Jobs at risk as private equity slows hiring in the Gulf The looming global recession is pushing private equity firms to freeze hiring in the Gulf, with layoffs likely to be on the way, an executive at a UAE-based global investment company has said. Major Wall Street firms are already beginning to rein in expenses amid a slump in deals volume on the back of repeated […] November 4, 2022
Analysis Tech Rise of the supercomputers: Gulf invests its oil profits in big tech Abu Dhabi Investment Authority, the world’s third-largest sovereign wealth fund, has revealed plans to launch ADIA Lab, a centre dedicated to cutting-edge research in data science, artificial intelligence, machine learning and quantum computing. From its base in the UAE capital, ADIA Lab will start work on December 2, supporting projects on climate change and energy […] November 1, 2022
Analysis Abu Dhabi sovereign wealth fund to deploy more into private credit Abu Dhabi Investment Authority (ADIA) is upping its exposure to private credit to boost its returns, the world’s fifth largest sovereign wealth fund revealed in its 2021 annual review published on Thursday. Private credit has flourished since the 2008 global financial crisis as banks became more risk averse in their lending and interest rates plunged, […] October 27, 2022
Analysis Food & Drink PIF sets up company to make Saudi a global hub for halal Saudi Arabia’s Public Investment Fund is launching a new business, the Halal Products Development Company (HPDC), to support the production of halal goods in the kingdom. The PIF company, unveiled today, aims to make Saudi Arabia a major exporter of halal products including food, cosmetics and pharmaceuticals. It also plans to drive innovation and efficiency […] October 24, 2022
Analysis Food & Drink Bean there, done that: Saudi takes coffee to US and Europe Saudi Arabia is targeting some of the world’s biggest cities as part of its campaign to promote the kingdom’s burgeoning coffee sector. The Ministry of Culture said it concluded a campaign this week to introduce Saudi coffee to New York, London, Rome and Paris as the country’s Year of Saudi Coffee 2022 initiative gathers pace. […] October 18, 2022
Exclusive Business of Sport Samba in the sand: Arab investors set sights on Brazilian football A 51 percent stake in Atletico Mineiro could fetch $200m Liverpool legend John Barnes says European-sized deals unlikely Libra league expects broadcasting revenues to rise 56% to $1bn A new law allowing Brazil’s soccer clubs to seek foreign investment is already attracting investors from the Middle East. But experts say Brazilian teams are unlikely to […] September 8, 2022
Analysis UAE experts warn investors about ‘under-regulated fintech’ Financial technology (fintech) startups have been big business for investors and consumers in the UAE, but experts have raised concerns about whether they are under-regulated. Fintech startup funding saw steep growth in the UAE in the first half of this year, accounting for a third of all deals, well above the Middle East and North […] September 2, 2022
Analysis Economy Britain looks to the Gulf as recession looms At the height of a long hot summer of discontent, the decision by PIF, Saudi Arabia’s sovereign wealth fund, to take a stake in Aston Martin came as welcome relief to British industry. As inflation soars and recession looms in the UK, it is hoped the £78 million pledge not only signals a turnaround for […] August 26, 2022
Analysis Economy How Oman got its budget back into the black Oman’s economic outlook looks rosier now than policymakers might have dared to expect just a few months ago – having registered a rare budget surplus in the first half of 2022. Data from the Ministry of Finance revealed a OMR784 million ($2 billion) fiscal surplus, compared to an OMR457m deficit in the same period in […] August 25, 2022
Analysis Banking & Finance BlackRock may spur wealthy to make crypto leap Institutional investors and high net worth individuals have traditionally shunned cryptocurrencies as volatile and untrustworthy. The ongoing turbulence in the market, with the value of bitcoin dropping by nearly half so far this year, has not helped sentiment but there are signs this is changing. BlackRock, which has $8.49 trillion of assets under management, yesterday […] August 12, 2022
Analysis Banking & Finance SoftBank slump not a ‘total disaster’ for Gulf wealth funds The $23.1 billion quarterly loss announced by Japan’s SoftBank Vision Fund this week may not represent a “total disaster” for its Gulf investors, according to US-based experts. Announced during President Donald Trump’s visit to Saudi Arabia in 2017, the Vision Fund is heavily backed by GCC sovereign wealth funds (SWFs). Saudi Arabia’s Public Investment Fund […] August 10, 2022
