Thursday 14 December 2017

Saudi stimulation plan to spend $53bn in 4 years

Saudi Arabia's economic stimulation plan launched today will comprise 17 initiatives amounting to SR200 billion ($53.32 billion) over the coming four years, said Minister of Commerce and Investment Dr Majed bin Abdullah Al-Qasabi.   The plan aims at enhancin


Abraaj invests in top Turkish online travel agent

The Abraaj Group, a leading investor operating in growth markets, has acquired, through its Anatolia Growth Capital Fund, a minority stake in Biletal İç ve Dış Ticaret, one of the leading online travel agents (OTAs) in Turkey.  The transaction marks the first-ever tec


Saudi Arabia approves $19.2bn stimulation plan

Saudi Arabia's King Salman bin Abdulaziz Al Saud has issued a royal decree approving the private sector stimulation plan and allocating a total of SR72 billion ($19.2 billion) for the plan.    The private sector stimulation plan is based on what has adv


ADGM-regulated $2bn feeder fund for India launched

Next Orbit Ventures (NOVF) ESDM, the newly launched Abu Dhabi-based fund established under the Abu Dhabi Global Markets (ADGM) jurisdiction, has announced the launch of a $2 billion fund for building semiconductors and electronics fab ecosystem in India.   


FAB opens new headquarters in Abu Dhabi

First Abu Dhabi Bank (FAB), the UAE’s largest bank, celebrated the official inauguration of its bank’s headquarters in Khalifa Business Park, Abu Dhabi, at an exclusive event attended by senior management.    The new headquarters was inaugurated


Stable 2018 outlook for GCC companies: Moody’s

Higher oil prices and continued public spending support the stable 2018 outlook on non-financial companies in the GCC, said Moody’s in a new report.  Conversely, the 2018 outlook for companies in both Turkey and South Africa is negative, it added. "


OFID approves over $454m of new funding

The Opec Fund for International Development (OFID) has approved more than $454 million of new development funding to benefit developing countries across the globe, a media report said. OFID’s newly-approved public sector loans, which total nearly $323 million, will support


UAE cbank raises interest rates by 25 bps

The Central Bank of the UAE has announced that effective today (December14), it will raise interest rates applied to the issuance of its Certificates of Deposits by 25 basis points, a media report said. The move is in line with the increase in interest rates on US Dollar, followi


Expat remittances hit $33bn in UAE in nine months

Expatriate remittances from the UAE amounted to Dh121.1 billion ($32.9 billion) during the first nine months of the year, a growth of 2.1 per cent from Dh118.6 billion during the corresponding period in 2016. An amount of Dh90.3 billion was transferred through money exchange comp


Gulf Capital closes three transactions worth $46m

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, today announced that its Private Debt Fund, Gulf Credit Opportunities Fund II, has closed three new investments for a total of $46 million (Dh170 million).   The inve

 1 2 3 4 5 > 

calendarCalendar of Events