-
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social network Pavel Durov said. The US$30 billion valuation was made by global technology funds in particular, Durov said in an interview with The Financial Times. “Generally speaking, we see value...
-
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar. -
Total market value of Saudi stocks hits $2.97 trillion
Riyadh, Saudi Arabia - The total market value of the primary Saudi stock market, represented by the All Tadawul Share Index (TASI), has reached an impressive SR11 trillion ($2.97 trillion). This valuation encompasses shares from 231 listed companies and funds currently actively traded in the market. An analysis of the... -
Google to pay US$700m to US consumers
It is an antitrust settlement made public recently. -
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies. Awaed Alosool unveils an innovative platform dedicated to empowering individuals in Saudi Arabia with seamless access to Sharia compliant investment in various financial instruments, including investment funds and stock markets.Awaed... -
Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport Â
Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub leaves Qatar as its biggest shareholder. Ferrovial said it was offloading its 25 percent stake for nearly US$3 billion, with the other 15 percent going to... -
Libya orders Brussels envoy detention on graft charges
Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's prosecutor general over alleged corruption, was questioned about "administrative and financial abuses" allegedly used to "obtain illicit material advantages by illegally seizing public funds". -
RSI buys stake in First Fix
The company acquires 51 percent stake in First Fix. -
Iraq pledges to raise financial support for Kurdistan
Days after thousands of people took to the streets in the Kurdistan region over unpaid civil service salaries which they blamed on Baghdad, the federal government said it would disburse annually to Iraqi Kurdistan two trillion and one hundred billion dinars to be paid in three equal installments of more... -
UAE sets more norms for ‘Qualifying Investment Funds’
The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven. -
IDB inks pact with IRENA
IDB will fund renewable projects by joining ETAF platform. -
Price monetary policy tools strong in managing public funds: Iraq official
Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public funds. Mudher Muhammed Salih, the advisor to the Prime Minister for Financial Affairs, emphasized the effectiveness of quantitative and price monetary policy tools in managing public funds and discussed factors... -
Over 6,500 arrests after cracking crime chat network, says Europol
PARIS, FRANCE -  More than 6,500 people have been arrested following the 2020 dismantling of EncroChat, an encrypted communications tool used by organized crime, Europol said on Tuesday. Close to 200 of the arrests were of "high-value targets", said the organization that assists EU members in international investigations, adding that nearly... -
UN says US$445m needed to help 860,000 refugees fleeing Sudan
The United Nations said it was planning for an outflow of 860,000 people from conflict-torn Sudan, adding that $445 million would be needed to support them just through October. The UN refugee agency said in a statement that it had presented its appeal to donor countries earlier in the day. -
Alistithmar Capital, Safa Investment set up real estate funds worth US$293m
Riyadh, Saudi Arabia--Alistithmar Capital has joined hands with Safa Investment Co. to set up several real estate funds worth around $292.9 million.   The two companies will combine their strength to enable Saudi Arabia's growth in the real estate sector through funds that target the residential space in main cities with... -
SoftBank posts US$5.9bn loss
The group's Q3 loss coincides with a slump in the tech sector. -
Marketwatch: Demand may pick up as China reopens
Supply of diesel to Europe from the US and the emerging refinery hub in the Middle East may make up some of the missing barrels from Russia, but a shortfall seems likely, not least considering the prospect for a strong recovery in China leading to lower export quotas, he adds. -
WHO seeks $2.5bn for health emergency responses in 2023
The World Health Organization appealed for US$2.54 billion for its work in 2023 to help millions of people facing health emergencies around the world. WHO said that it was currently responding to an unprecedented number of intersecting health emergencies. It pointed to the health impacts of conflicts in Ukraine, Yemen,... -
Iraqi central bank chief quits amid currency volatility
Iraq's prime minister said the country's central bank governor had been relieved of his duties as the local currency continues to fall against the dollar. "The central bank governor's request for discharge was approved, as was the request for retirement by the president of the Trade Bank of Iraq," Prime... -
Saudi Arabia may surpass UAE in FDI inflow this year
Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar Musa, CEO of PRO Partner Group. -
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,... -
WHO urges malaria funding boost as deaths stay stubbornly high
The World Health Organization called for more funds to help overcome towering challenges in the battle against malaria, which continues to kill hundreds of thousands of mainly African children each year. It warned that the world was currently "off track" to reach its goal of reducing malaria cases and deaths... -
Envoy eyes more cooperation, $6.32bn bilateral trade this year as UAE-Belgium ties mark 51st anniversary
Brussels needs to find new energy suppliers and we recognize the important role of the UAE on that front, Belgian ambassador to the UAE Antoine Delcourt tells TRENDS -
Egypt, IMF reach agreement on EFF arrangement
Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month arrangement under the Extended Fund Facility, IMF Mission Chief for Egypt Ivanna Vladkova Hollar said. -
Credit Suisse sells 8.6% stake in Allfunds
Bank raised US$325m from its stake sale of Spanish firm. -
Startups adopt new strategy to survive post pandemic
Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa, CEO of Najahi Events. -
Saudi healthcare needs $35bn as population rises
The kingdom will need an investment of $35.6bn for nearly 20,000 new hospital beds by 2030, according to Colliers. High land costs can be an impediment to realizing the goal. -
Chimera Capital launches two funds
The funds are Shariah-compliant and fully fungible exchange-traded funds. -
SVC to invest in Venture Debt Fund
The fund will offer venture debt tools to startups and SMEs. -
Careem looks to raise $500m to fund expansion
Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds. -
Eight biggest GCC sovereign wealth funds
Sovereign wealth funds across the world invest trillions of dollars into real estate, bonds and other assets. TRENDS takes a look at some of the biggest wealth funds in the Gulf region. -
UN agency says to cut food aid to Yemen for want of funds
Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014. -
Where does Saudi Arabia’s PIF invest most?
The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil sectors in a bid to diversify the economy. -
UAE enters into cooperation with Indonesian sovereign fund
The United Arab Emirates and Indonesia’s State Wealth Fund has signed a new agreement to allow funds from the former to invest in a variety of high-yielding financial products, according to media reports. -
Saudi CMA looks to double $213bn funds under its control
The Saudi Capital Market Authority (CMA) intends to double the $213 billion funds under its management. -
Expats leaving Oman can retain properties under usufruct scheme
The scheme allows them to manage properties from outside the country through law firms or realtors. -
IMF suspends Afghanistan’s access to SDR resources
The IMF is expected to complete a $650 billion allocation of Special Drawing Rights, the fund’s unit of exchange based on dollars, euros, yen, sterling and yuan, on Monday, to its 190 member countries in proportion to their shareholdings in the fund.