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#UAE's Shuaa Capital to sell over 28mln treasury shares | ZAWYA MENA Edition

UAE’s publicly listed financial services firm Shuaa Capital is expected to divest more than 28 million treasury shares.The company’s board of directors has just passed a resolution approving the sale of 28,107,748 shares, subject to the approval of the Securities and Commodities Authority (CMA), the company said in a bourse filing to the Dubai Financial Market (DFM) on Sunday.No further details were disclosed regarding the sale.The company earlier said it is expected to boost its financial resu...
Tags: Travel, Middle East, Uae, North Africa, Dubai Financial Market DFM, Rupert Neil Bumfrey, Anghami, Shuaa Capital, Securities and Commodities Authority CMA, Nasdaq Shuaa


Public listings in Mena markets set to rise in 2021, EY says | The National

Public listings in Mena markets set to rise in 2021, EY says | The National More companies in the Middle East and North Africa are expected to go public in 2021 after the number of listings and money raised dropped last year, according to the consultancy EY.Renewed optimism for a gradual pick-up in public offerings in regional markets is driven by regulatory changes that support public companies, EY said in a report on listings in the region. The consultancy expects more than 10 initial public o...
Tags: Travel, Saudi Arabia, Egypt, Middle East, Ey, Mena, North Africa, Rupert Neil Bumfrey, Matthew Benson EY Mena


#Saudi Wealth Fund Bets on Startups With Hambro Perks Investment - Bloomberg

Saudi Wealth Fund Bets on Startups With Hambro Perks Investment - Bloomberg Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies.The Public Investment Fund of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa, according to Domini...
Tags: Travel, London, Saudi Arabia, Middle East, Jada, North Africa, Oryx, Rupert Neil Bumfrey, Public Investment Fund, Hambro Perks Investment Bloomberg, Hambro Perks Investment Bloomberg Saudi Arabia, Hambro Perks Ltd, Dominic Perks co, Hambro Perks He, Hambro Perks Other, Saudi Venture Capital Co


UK court allows Abraaj founder's extradition to U.S | Reuters

UK court allows Abraaj founder's extradition to U.S | Reuters The founder of collapsed Dubai-based private equity company Abraaj Group will be extradited to the United States, where he is wanted on fraud charges, a London court ruled on Thursday.U.S. prosecutors allege Arif Naqvi, a Pakistani businessman, is the architect of a plot to defraud investors including the Bill & Melinda Gates Foundation. Naqvi’s lawyers have said he could face 291 years in jail if convicted in the U.S..Dubai-based Abr...
Tags: Travel, UK, London, United States, Middle East, Dubai, North Africa, Reuters, Bill Melinda Gates Foundation, Naqvi, Abraaj Group, Abraaj, Rupert Neil Bumfrey, Arif Naqvi


BofA’s Middle East Equities Head to Depart After Two Decades - Bloomberg

BofA’s Middle East Equities Head to Depart After Two Decades - Bloomberg Talal Ghandour, one of Bank of America Corp.’s longest-serving senior executives in the Middle East, is leaving the U.S. firm after 22 years.Ghandour, who was a Dubai-based managing director, plans to join his family business, according to an internal memo seen by Bloomberg News. He most recently led the bank’s equities unit in the Middle East and North Africa, where he helped build one of the biggest regional franchises of...
Tags: Travel, Bank Of America, Bloomberg, Middle East, Dubai, Mena, North Africa, Bloomberg News, Abraham, Bank of America Corp, BofA, Ghandour, Rupert Neil Bumfrey, Middle East Equities Head, Bloomberg Talal Ghandour, Ali Hobballah


The #UAE And #Qatar Are More Alike Than Apart - Bloomberg

The UAE And Qatar Are More Alike Than Apart - Bloomberg The end of the embargo on Qatar and the resulting restoration of its ties with the United Arab Emirates will not resolve over their deep-seated differences. But the two sheikhdoms are strikingly alike in many ways, especially in their skillful exploitation of similar economic and demographic circumstances to acquire political clout across the Middle East and North Africa.In the past decade, they have both punched above their weight as regio...
Tags: Travel, Qatar, Bloomberg, Middle East, United Arab Emirates, Uae, Mena, North Africa, Rupert Neil Bumfrey


Assets of #UAE's first ETF climb above Dh50m just six months after its listing | The National

Assets of UAE's first ETF climb above Dh50m just six months after its listing | The National Assets managed by the Chimera S&P UAE Shariah Exchange Traded Fund climbed to more than Dh50 million ($13.6m) just six months after the UAE’s first ETF started trading on the country’s two stock exchanges.The ETF now ranks as the third-largest in the Middle East and North Africa region, Abu Dhabi-based asset management firm Chimera Capital said in a statement on Monday.The net asset value of both share c...
Tags: Travel, GCC, Middle East, Abu Dhabi, Uae, North Africa, Rupert Neil Bumfrey, Seif Fikry, National Assets, Chimera Capital


NBK Capital says 2021 could be best year for Mideast private equity investments | Reuters

NBK Capital says 2021 could be best year for Mideast private equity investments | Reuters This year could be the best yet for private equity investments in the Middle East and North Africa (MENA) region as valuations are down, regional economies are bottoming out and fewer competitors are left, a leading private equity firm said.“This has the potential to be the sort of the golden age of private capital investing in the region,” Yaser Moustafa, senior managing director of NBK Capital Partners, w...
Tags: Travel, Middle East, North Africa, Reuters, Mideast, Abraaj, Rupert Neil Bumfrey, NBK Capital, NBK Capital Partners, Yaser Moustafa


Mideast Stocks Climb, Track Global Peers and Oil Gain: Inside EM - Bloomberg

Mideast Stocks Climb, Track Global Peers and Oil Gain: Inside EM - Bloomberg The Middle East’s benchmark equity indexes all advanced on Sunday, tracking a global stock rally on optimism that a Democratic sweep in the U.S. will boost fiscal spending in the world’s largest economy.Egypt’s EGX 30 Index climbed for a third day to lead regional gains as the government reported declining inflation. Meantime, Saudi shares increased, hovering at their highest since July 2019.This year “looks to favor 20...
Tags: Travel, Bloomberg, Egypt, Middle East, United Arab Emirates, Mumbai, North Africa, Democratic, Citigroup Inc, Rupert Neil Bumfrey, Rahul Bajaj


#Qatar News: BeIN to Pay $500 Million in Renewed Premier League Deal - Bloomberg

Qatar News: BeIN to Pay $500 Million in Renewed Premier League Deal - Bloomberg Qatar’s BeIN Sports has agreed to pay about $500 million for the right to broadcast live Premier League soccer games across the Middle East, according to a person familiar with the matter.BeIN and the Premier League announced a new three-year contract running until 2025 in a joint statement Thursday, without disclosing financial details. It renews an existing agreement and allows BeIN to show matches in 24 markets sp...
Tags: Travel, Qatar, Bloomberg, Premier League, Middle East, North Africa, Rupert Neil Bumfrey, Richard Masters


Christmas Gifting - Spicy Harissa Paste

Harissa is a spicy chilli paste from North Africa and makes for a wonderful edible Christmas gift. If you have any chilli lovers they'll appreciate a jar of this authentic North African harissa!
Tags: Travel, North Africa


MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters

MIDEAST DEBT-Gulf bonds likely to set new record in 2021 amid budget squeeze | Reuters International debt sales from the six-member Gulf Cooperation Council are likely to notch another record year in 2021 as governments need to fill wider deficits and corporates look to grab money on the cheap amid low rates.The oil-rich region saw a second consecutive year of record international bonds, topping $100 billion, as issuers’ finances were battered by the COVID-19 pandemic along with low oil prices, ...
Tags: Travel, Middle East, Gulf, North Africa, Reuters, Gulf Cooperation Council, Reuters International, Rupert Neil Bumfrey, Khalid Rashid, Deutsche Bank S P Global Ratings


Jordan to Double Gas Output; Vitol Sees $50 Oil: Adipec Update - Bloomberg

Jordan to Double Gas Output; Vitol Sees $50 Oil: Adipec Update - Bloomberg Adipec, one of the biggest energy events in the Middle East and North Africa, is into its second day. Usually hosted in Abu Dhabi, capital of the United Arab Emirates, this year’s conference is virtual.Energy ministers from Egypt, Jordan and Iraq are among those speaking on Tuesday. So is Fatih Birol, the head of the International Energy Agency.The event, which runs until Nov. 12, opened on Monday with oil prices under un...
Tags: Travel, Energy, Europe, Iraq, Middle East, United Arab Emirates, Jordan, Abu Dhabi, North Africa, International Energy Agency, Pfizer Inc, Egypt Jordan, Vitol, Fatih Birol, Rupert Neil Bumfrey, Adipec Update Bloomberg


Mideast’s Top Private Equity Firm Ready to Pounce as Rivals Fade - Bloomberg

Mideast’s Top Private Equity Firm Ready to Pounce as Rivals Fade - BloombergThe biggest private equity and alternative asset manager in the Middle East is on the lookout for deals after the economic fallout of the pandemic made companies cheaper to buy and scandals thinned out the competition.Investcorp Holding BSC, which manages about $34 billion, is looking to do more in the region across the health-care, transport, logistics and industrial sectors, said Walid Majdalani, the firm’s head of pri...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Dubai, North Africa, Mideast, Investcorp, Rupert Neil Bumfrey, Shailesh Dash, Abraaj Capital, Al Masah Capital Ltd, Investcorp Holding BSC, Walid Majdalani, Majdalani


U.S., #UAE, #Israel to Form Joint $3 Billion Fund in Jerusalem - Bloomberg

U.S., UAE, Israel to Form Joint $3 Billion Fund in Jerusalem - Bloomberg:  Israel, the United Arab Emirates and the U.S. will set up a joint $3 billion investment fund headquartered in Jerusalem as part of efforts to normalize relations and promote regional economic development.  The fund was announced on Tuesday during a first official visit to Israel by a UAE delegation, following a formal agreement on normalizing ties last month, to which Bahrain was also a party. It will invest in projects i...
Tags: Travel, Israel, Jerusalem, Middle East, United Arab Emirates, Bahrain, Uae, North Africa, U S Embassy, Eilat, Ashkelon, Rupert Neil Bumfrey, UAE Israel, Adam Boehler, Jerusalem Bloomberg, U S International Development Finance Corp


500 Startups appoints Shuaa Capital as advisor to its MENA fund | ZAWYA MENA Edition

500 Startups appoints Shuaa Capital as advisor to its MENA fund | ZAWYA MENA Edition:US-based global venture capital firm 500 Startups has appointed Dubai’s Shuaa Capital as advisor to its Falcons 1 Fund in the Middle East and North Africa (MENA) region.The Dubai-listed firm will focus its support on advising 500 Startups’ Falcons 1 portfolio companies in financing and exit strategies, as the company’s MENA fund nears the end of its deployment.Shuaa will be represented by its chief executive off...
Tags: Travel, US, Middle East, Dubai, Mena, North Africa, Falcons, Rupert Neil Bumfrey, Shuaa, Shuaa Capital, Jassim Alseddiqi


Middle East News: Gas Investment to Rise Despite Coronavirus Price Slump - Bloomberg

Middle East News: Gas Investment to Rise Despite Coronavirus Price Slump - Bloomberg:Investment in natural gas projects across the Middle East and North Africa will rise, even as the coronavirus pandemic damps demand for the fuel, according to Arab Petroleum Investments Corp.Gas projects planned or under development in the region will require around $211 billion in investment between 2020 and 2024, the multilateral lender said Monday in a statement. In its previous investment outlook, Apicorp es...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Iran, Middle East, North Africa, Rupert Neil Bumfrey, Apicorp, Arab Petroleum Investments Corp


The Middle East’s First Sovereign Green Bond Sees Strong Demand - Bloomberg

The Middle East’s First Sovereign Green Bond Sees Strong Demand - Bloomberg:Egypt pulled in orders for nearly five times the $750 million size of the Middle East and North Africa’s first sovereign green bond, as it pushes ahead with anti-pollution and renewable energy projects.The Arab world’s most populous nation sold the five-year notes at a yield of 5.25%, well inside an opening target of about 5.75%, after amassing more than $3.7 billion of investor orders. The sale “put Egypt on the map of ...
Tags: Travel, Europe, Bloomberg, Egypt, Middle East, North Africa, East Asia, Finance Ministry, Rupert Neil Bumfrey


OTRUM and IT Hospitality form a Strategic Partnership for the Middle East and North Africa Hospitality Industry

One of the Largest Technology player providing Services to Hotels Guest, such as cloud management and control of smart TVs, mobile devices, casting solutions and digital signage in EMEA, and the largest focused Hospitality System Integrator for the region, join forces to drive integration and deployment in North Africa and the Middle East.
Tags: Travel, Middle East, North Africa, EMEA, IT Hospitality, North Africa Hospitality Industry, Largest Technology


Middle East Markets: State Street Opens in #Saudi, Hires Abdullah Saleh Bakhrebah - Bloomberg

Middle East Markets: State Street Opens in Saudi, Hires Abdullah Saleh Bakhrebah - Bloomberg:State Street Corp. opened its first office in Saudi Arabia and hired Abdullah Saleh Bakhrebah from Ashmore Group Plc as chief executive officer for its operations in the kingdom. The Boston-based financial-services firm is entering Saudi Arabia as part of its plans to boost its presence in the Middle East, State Street said in a statement Thursday. It also hired Haifa Al Goufi as Middle East and North Af...
Tags: Travel, Saudi Arabia, Boston, Africa, Middle East, North Africa, Europe Middle East, Credit Suisse Group AG, State Street Corp, Rupert Neil Bumfrey, Ashmore Group Plc, Abdullah Saleh Bakhrebah Bloomberg, Abdullah Saleh Bakhrebah, Middle East State Street, Haifa Al Goufi, Hassan Al Khalaf


JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021 - Bloomberg

JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021 - Bloomberg:The financial fallout from the coronavirus pandemic will keep fueling debt issuance from the Middle East into 2021, while also stoking mergers and acquisitions as companies seek to consolidate, according to JPMorgan Chase & Co.Growth in lending by the bank, coupled with fees from arranging bond and M&A deals, will drive the U.S. company’s operations in the region, Karim Tannir, JPMorgan’s joint-senior country officer for...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, United Arab Emirates, North Africa, JPMorgan Chase Co, Rupert Neil Bumfrey, Karim Tannir


Why fiscal stimulus could be the only hope for MENA economic recovery in 2021 | ZAWYA MENA Edition

Why fiscal stimulus could be the only hope for MENA economic recovery in 2021 | ZAWYA MENA Edition:Fiscal stimulus and policy will play a crucial role in the MENA region's upturn in the wake of the COVID-19 pandemic and the oil price plunge in the first half of 2020, experts say.Banking giant MUFG's forecasts indicate that, by the end of 2021, the region will have a level of activity that is well below its pre-pandemic growth trajectory. In many cases, it will record activity below its 2019 leve...
Tags: Travel, GCC, Middle East, Mena, North Africa, Rupert Neil Bumfrey, MUFG, Ehsan Khoman Head, MENA Research and Strategy


Middle East Deals News: PJT Partners Hires #Dubai Firm deNovo - Bloomberg

Middle East Deals News: PJT Partners Hires Dubai Firm deNovo - Bloomberg:PJT Partners Inc. signed an accord with a Dubai-based boutique as the U.S. investment bank seeks to win a slice of Middle East deal-making and restructuring work.The advisory firm, founded by Paul J. Taubman, will work with deNovo Corporate Advisors on cross-border transactions for the region’s biggest companies, sovereign wealth funds and family offices, according to deNovo executive chairperson May Nasrallah.PJT and deNov...
Tags: Travel, Middle East, Dubai, North Africa, Rupert Neil Bumfrey, Denovo, PJT Partners Inc, Paul J Taubman, PJT Partners Hires Dubai Firm deNovo Bloomberg


Facebook takes down misinformation networks linked to Roger Stone, Bazilian President Bolsonaro

Facebook took down four networks that engaged in misinformation in the US, Brazil, Ukraine, and Latin and Central Americas, including a network linked to Trump aide Roger Stone and another linked to Brazilian President Jair Bolsonaro. Except for the network that targeted people in Latin and Central Americas, all the other three networks targeted domestic audiences. Two of the four networks used advertising/PR firms, while the American and Brazilian networks were linked to people associated with ...
Tags: Travel, Facebook, Florida, News, Instagram, India, US, Ukraine, Canada, Egypt, Nato, Pakistan, Chile, Middle East, Crimea, Brazil


Facebook takes down misinformation networks linked to Roger Stone, Brazilian President Bolsonaro

Facebook took down four networks that engaged in misinformation in the US, Brazil, Ukraine, and Latin and Central Americas, including a network linked to Trump aide Roger Stone and another linked to Brazilian President Jair Bolsonaro. Except for the network that targeted people in Latin and Central Americas, all the other three networks targeted domestic audiences. Two of the four networks used advertising/PR firms, while the American and Brazilian networks were linked to people associated with ...
Tags: Travel, Facebook, Florida, News, Instagram, India, US, Ukraine, Canada, Egypt, Nato, Pakistan, Chile, Middle East, Crimea, Brazil


Abu Dhabi luxury travel

Jutting out into the Arabian Gulf, Abu Dhabi is the ultra-modern and sparkling clean capital of the United Arab Emirates. With 1.5 million residents, it is the second-largest urban area in the Emirates, after Dubai, which lies 87 miles to the northeast. Geographically, Abu Dhabi is the largest of the seven emirates, taking up roughly 80 percent of the country’s landmass. Nearly two-thirds of the UAE’s economic activity takes place here, with the majority of tourist attractions dotted along a ...
Tags: Travel, New York, New York City, Middle East, Emirates, Dubai, Abu Dhabi, Uae, David Byrne, Napoleon, Louvre, All, North Africa, Big Apple, George Washington, Presidential Palace


Oil slump puts pressure on Gulf states’ currency pegs | Financial Times

Oil slump puts pressure on Gulf states’ currency pegs | Financial Times:The slump in oil prices this year has prompted some investors to rekindle bets against Gulf nations’ currencies, putting longstanding pegs to the dollar under pressure.Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates — together, the Gulf Cooperation Council — have kept their currencies glued to the dollar since the 1970s. That has meant mirroring US interest rates and tweaking reserves regularly to kee...
Tags: Travel, US, GCC, Middle East, United Arab Emirates, Dubai, Financial Times, Gulf, North Africa, Gulf Cooperation Council, Bahrain Kuwait, Qatar Saudi Arabia, Rupert Neil Bumfrey, MUFG Bank, Ehsan Khoman


JPMorgan sees more Gulf companies linking up but no liquidity crunch - Reuters

JPMorgan sees more Gulf companies linking up but no liquidity crunch - Reuters:JPMorgan (JPM.N) expects more consolidation among Gulf companies this year in sectors such as banking, real estate and hospitality, but it sees no liquidity crunch in the region, despite the twin blow of the new coronavirus and low oil prices.“We are going to continue to see consolidation themes building up on what we have witnessed in the previous years. I expect banking consolidation to continue its way through and ...
Tags: Travel, Middle East, International Monetary Fund, Gulf, Mena, North Africa, Reuters, Jpmorgan, Rupert Neil Bumfrey, Karim Tannir, Tannir


Moroccan gray wine

Known for its signature mint and Berber tea, Morocco is often overlooked by wine enthusiasts despite its extensive role in the viticulture of the 20th century. Although a Muslim country where alcohol consumption is not prevalent, Morocco is, in fact, the producer of a fine wine that can easily rival your favorite rosé. Meet gray wine, or vin gris. An extremely light style of rosé, vin gris is made from red grapes in a style most associated with white wine practices. After the juice of red gr...
Tags: Travel, Europe, France, Spain, Atlantic, Morocco, Portugal, Provence, Marrakech, All, North Africa, Alentejo, Essaouira, Meknes, Perle, Vin Gris


Moroccan grey wine

Known for its signature mint and Berber tea, Morocco is often overlooked by wine enthusiasts despite its extensive role in the viticulture of the 20th century. Although a Muslim country where alcohol consumption is not prevalent, Morocco is, in fact, the producer of a fine wine that can easily rival your favorite rosé. Meet grey wine, or vin gris. An extremely light style of rosé, vin gris is made from red grapes in a style most associated with white wine practices. After the juice of red gr...
Tags: Travel, Europe, France, Spain, Atlantic, Morocco, Portugal, Provence, Marrakech, Grey, All, North Africa, Alentejo, Essaouira, Meknes, Perle



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