• IOTA Foundation launches US$10m investment fund at Investopia 2024

    ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of a new investment fund valued at US$10 million by the IOTA Ecosystem DLT Foundation during Investopia 2024. The fund's primary goal is to promote the development of TradeTech solutions and...
  • Arcapita Capital closes $500m fund

    The fund saw participation from leading sovereign wealth funds.
  • WTO convenes ministers in UAE with slim hopes for breakthrough

    The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years. The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.
  • WTO launches US$50m fund for women entrepreneurs in developing countries

    ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy. The announcement came ahead of the 13th ministerial conference of the WTO...
  • OFID funds $27 billion for 4,000 projects in 125 countries

    Dubai, UAE -- The OPEC Fund for International Development (OFID) has committed a US$27 billion to support 4,000 development projects in over 125 countries since its inception, said Dr. Abdulhamid Alkhalifa, OFID Director-General. In 2023, funding reached a record $1.7 billion through 55 projects worldwide, bolstering initiatives promoting social and...
  • ADIB records 45% jump in net profit

    Its revenue climbed 36 percent to US$2.53 billion in 2023.
  • Oman Investment Authority launches fund worth US$5.19 billion

    Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The fund will serve a wide range of investment categories, develop the national economy and attract foreign investments. According to the Oman News Agency (ONA), According to the Oman News Agency...
  • ADQ and Azerbaijan’s AIH set up joint-investment platform

    Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund located in Baku, have announced the formation of a joint venture with the aim of investing in sectors of mutual priority and interest, such as agriculture, technology, pharmaceuticals and energy...
  • COP28 chief urges nations to reach climate compromise

    Setting the ambitious goal of having a deal in place by Tuesday, the last day of the conference, Sultan Al Jaber exhorted the nearly 200 nations represented at COP28 to work with a "spirit of compromise", step out of their "comfort zones and find common ground to deliver a high...
  • Abu Dhabi-backed fund takeover of Telegraph triggers UK probe into sale

    Dubai, UAE--The UK government has ordered a formal probe into the proposed sale of the Telegraph Media Group to an Abu Dhabi-backed investment fund. The investment fund, RedBird IMI, disclosed earlier this month that it was set to take control of The Daily and Sunday Telegraph sister newspapers and The...
  • Mumtalakat, Investcorp ink pact

    The firms have jointly launched a climate investment platform.
  • UAE President announces $30bn Global Climate Fund at COP28 meet

    In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh Mohamed bin Zayed Al Nahyan unveiled a $30 billion fund dedicated to global climate solutions. He said UAE has plans to invest $130 billion over the next seven years to...
  • China announces $137 bn sovereign bond issuance

    Beijing, China - China announced on Tuesday a 1 trillion yuan ($137 billion) sovereign bond issuance, state media said, in a move experts say is an attempt to shore up the economy after a sluggish post-Covid recovery. The funds will be distributed to local governments to support national disaster prevention and...
  • Invest AD to launch debt fund

    Invest AD Blackstone Debt Fund is an SCA-regulated fund.
  • Saudi Arabia funds construction of library in Bosnia and Herzegovina

    SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone for the construction of a new library in the University of Sarajevo here. The funding for construction and equipping of the library has been through a generous US$22 million grant...
  • Agthia Group launches Agthia Ventures

    New firm is a $54 million corporate venture capital fund.
  • Global body to fund 26 FAO projects worth $174.7m

    ROME, ITALY - Building on growing momentum to tackle environmental problems by addressing the ways in which our food and fiber are produced, the Global Environment Facility has approved 26 projects led by the Food and Agriculture Organization of the United Nations (FAO). "To achieve the 2030 Agenda we need...
  • Mubadala invests $200m in Bicycle Capital

    Bicycle Capital is a growth equity firm focusing on startups.
  • Saudi Arabia’s SVC invests $30m in Bedaya Fund II

    RIYADH, SAUDI ARABIA -   Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is managed by Shorooq Partners. The fund will mainly back early-stage startups with a focus on several sectors. The subscription agreement was signed by Dr. Nabeel Koshak, CEO and Board Member...
  • KPMG ordered to pay $231 million for Abraaj fund audit failure

    Dubai, UAE -- KPMG Lower Gulf has been ordered by a Dubai court to pay more than $231 million to a group of investors who claim they lost money because of poor-quality audit work by the firm on a fund they were invested in. The judgment, issued late last month,...
  • Middle East faces a few hurdles in ESG investments

    Creating a coherent ESG policy is perhaps one of the biggest challenges for the region, which is heavily reliant on hydrocarbons, says an expert.
  • Norway’s sovereign wealth fund pulls out of troubled Adani Group

    The fund, which is set up to put the country's oil and gas revenues to work, held some $200 million worth of shares in the group at the end of 2022. It had a stake of 0.14 percent in Adani Green Energy and 0.17 percent in Adani Total Gas.
  • OPEC Fund lends Panama US$120m in loan for climate action

    Vienna, Austria--The OPEC Fund for International Development (the OPEC Fund) has lent Panama a US$120 million in loan to support the country’s climate action, adaptation, resilience and mitigation policies. The “Panama Support Program for the National Climate Change Policy” aims to mitigate, contain and reverse the effects of climate change,...
  • WEF launches initiative to channelize US$3trn for climate and nature

    The World Economic Forum launched the Giving to Amplify Earth Action (GAEA), to help unlock the US$3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050. The GAEA is a global initiative to fund and grow new and existing public, private...
  • Middle Eastern SWFs eye Europe, US for cheap assets

    The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a year earlier, says the latest Global SWF report.
  • Commodities face a challenging first quarter

    We have strong doubts about the recession risk to the US economy and see demand from some of the world’s largest consumer underpin the price during a year where supply will continue to be managed by OPEC+ and US producers inability or unwillingness to ramp up production, he adds.
  • Dubai court authorizes jailed Brit’s fraud extradition, say lawyers

    DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion euro tax fraud in Denmark, the suspect's defense team said, ahead of a further ruling by a higher court. Hedge fund trader Sanjay Shah was arrested in Dubai in June,...
  • IMF says more financing needed for climate change fund

    IMF chief Kristalina Georgieva has regretted the shortage of funds needed to help low-income countries tackle the impacts of climate change. Although IMF has secured $40 billion worth of commitments, its chief still feels that the amount is "nothing in comparison with the needs."
  • European Union to add $2.1 bn to fund used for arming Ukraine

    Diplomats said a preliminary agreement had been struck among the 27-member bloc to bolster the European Peace Facility, which has already committed over 3 billion euros to covering the cost of weaponry for Kyiv. They could sign off on the move Monday.
  • Riyadh, Dubai, Kuwait lead MENA in supporting startups as region sees drop in investment levels

    Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed, a latest report points out
  • ‘Historic’ but ‘not enough’: UN COP27 climate summit reactions

    The summit drew praise for the "loss and damage" fund to help vulnerable countries cope with the destructive impacts of global warming. But there was also anger over a failure to push further ambition on cutting emissions in order to keep alive the aspirational goal of limiting global warming to...
  • UN COP27 approves “loss and damage” fund

    Nations hit by the impact of global warming can now be compensated from the "loss and damage" fund created by the UN's COP27 climate summit. The fund was approved by consensus following two weeks of contentious negotiations over demands by developing nations for rich polluters to compensate them.
  • UN climate talks go into overtime to break deadlock over funding

    Representatives from nearly 200 countries have gathered at the COP27 in Egypt for two weeks with the aim of driving forward action on climate change as the world faces a worsening onslaught of extreme floods, heat waves and droughts.
  • G20 health, finance ministers agree to launch US$1.4bn pandemic fund

    The G20 health ministers have agreed to establish a pandemic fund.
  • Aramco to launch US$1.5bn sustainability fund for energy transition

    Riyadh, Saudi Arabia— Aramco will launch a $1.5 billion sustainability fund to invest in stable and inclusive energy transition technology. According to its CEO Amin Nasser, the fund will be managed by the company's venture capital arm Aramco Ventures. The CEO said that the fund will be “among the biggest...
  • Abu Dhabi launches healthcare grant to help research, innovation

    The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a monetary fund that fosters research and innovation efforts among healthcare professionals in the emirate.
  • US announces $2.9 billion for resolving global food insecurity

    The White House said food supplies are being dangerously disrupted by "the compounding impacts of the pandemic, the deepening climate crisis, rising energy and fertilizer costs, and protracted conflicts -- including Russia's invasion of Ukraine."
  • Chimera Capital unveils new ETF

    The Income Share Class B fund will be listed on ADX.
  • $399 million hospitality investment fund coming up in Saudi Arabia

    A SAR 1.5 billion ($399 million) hospitality investment fund that will advance lifestyle hotels in Saudi Arabia will be set up by the Tourism Development Fund (TDF) in partnership with Ennismore and Al Rajhi Capital. Ennismore is the world’s largest and fastest-growing lifestyle hospitality company and Al Rajhi Capital, an...
  • UAE announces fund to develop and launch advanced satellites

    UAE Space Agency on Sunday announced a new AED3 billion ($816 million) national investment and development fund for the space sector, The National Space Fund. The Fund will support ground breaking new programmes launched to support international and Emirati companies co-operating in leading edge space sector engineering, sciences and research...
  • Dubai sets up $100m fund to support fintech startups

    Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies. The fund, scheduled to be launched in June 2022, was approved by Crown Prince of Dubai, Sheikh Hamdan bin Mohammed, after a meeting with the executive council.
  • Export credit companies of UAE and Indonesia sign pact to boost trade

    Etihad Credit Insurance (ECI), the UAE Federal export credit company, and its Indonesian counterpart PT Reasuransi Indonesia Utama (Persero) or Indonesia Re, have signed a reciprocal reinsurance agreement to bolster their bilateral trade. The two agencies also agreed to expand their collaborative initiatives across the globe by fostering sustainable and...
  • Sandooq Al Watan to fund Lune with $68,000 for its innovator program

    Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations, announced that it has funded ‘Lune,’ a platform from an Emirati startup specializing in the field of financial data analysis, with an amount of AED250,000 ($68,000). Created by Lune...
  • A $40m fund set up in KSA

    Al Moammar and Saudi Fransi Capital sets up a private fund.
  • ADQ and Turkey Wealth Fund set up a venture capital fund

    ADQ of Abu Dhabi has partnered with Turkey Wealth Fund to launch Turkey Technology Fund that will invest in venture capital funds and high-growth potential companies in Turkey.
  • Dubai ruler issues law on Local Military Pensions and Social Security Fund

    Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security Fund in Dubai, in a move that seeks to support the emirate’s vision in the domain of social security and pensions and ensure the implementation of best practices. An official...
  • Jadwa of Saudi Arabia launches a $800m real estate fund

    Jadwa Investment of Saudi Arabia has launched a new Shariah-compliant real estate fund to the tune of $800 million. The company manages a portfolio of property worth $3.36 billion.
  • PIF opens 3 overseas firms

    The new companies’ offices are in London, New York, and Hong Kong.
  • UN Security Council ends Iraq invasion reparations to Kuwait

    The unprecedented panel is considered a model for reconciliation that could help resolve future conflicts if necessary.
  • Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund

    GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million sukuk fund which holds a diversified portfolio of sukuk, following signing  agreement with Credit Suisse to provide financing and fund administration services. The fund holds a portfolio of sovereign, quasi...
  • Mubadala closes Brazil fund

    Brazil Special Opportunities Fund I is Mubadala's first fund in Brazil.