Abu Dhabi’s Wealth Funds Weigh Turkey Investments Worth Billions – Bloomberg — www.bloomberg.com
Highlights:
– Wealth funds in Abu Dhabi are on the prowl in Turkey, scouting for targets for billions of dollars in investments, according to people familiar with the matter.
– The interest preceded a breakthrough phone conversation in August between Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan and Turkish President Recep Tayyip Erdogan, amid increasing signs of a thawing of relations.
– Among funds eyeing Turkish investments in recent weeks are Abu Dhabi Investment Authority, or ADIA and ADQ.
– ADQ alone is considering spending as much as $1 billion on health-care and fintech targets.
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UAE and World Economic Forum to host “Great Narrative” meeting in Dubai – GCC Business News — www.gccbusinessnews.com
Highlights:
– Mr Al Gergawi stated that the UAE government, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai, is keen to actively participate in this global dialogue in order to assist communities, individuals, and governments in co-creating a better future and a more diversified economy capable of providing sustainable development and shared prosperity in the future.
– The meeting will bring together the world’s leading thinkers and futurists.
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UAE allows property brokerage firms to be 100% owned by foreign nationals | Property – Gulf News — gulfnews.com
Highlights:
– Property brokers will be able to have full ownership of their companies in the UAE from now on, as this business activity has been removed from the ‘restricted list.’
– What the change means is that a property brokerage firm can be 100 per cent owned by a foreign national through a local UAE national is required to act as a service agent,” said Atik Munshi, Managing Partner at the consultancy Enterprise House UAE.
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EXPERIENCE LIVING IN PIXEL
Pixel is the first mixed-use residential community at Makers District. Pixel offers its residents & visitors a unique space to enrich, collaborate & engage.
Designed as human-scale, the 7 mixed-use residential towers surrounded by quiet pocket gardens have been strategically arranged around a vibrant pedestrianized plaza.
Learn more.
UAE launches talks on Comprehensive Economic Partnership Agreement with India – GCC Business News — www.gccbusinessnews.com
Highlights:
– The Emirates and India are considering a Comprehensive Economic Partnership Agreement (CEPA) that could increase non-oil trade between the two countries to $100 billion in five years.
– Dr Ahmed AlBanna, UAE Ambassador to India commented “Besides trade, we are keen to augment investment flows and lead the world by example.”
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Macron urges Lebanon to push ahead with reforms, swift IMF talks | Mena – Gulf News
Highlights:
– Macron made his comments after meeting Lebanon’s Prime Minister Najib Mikati, who is on his first foreign trip after successfully forming a government earlier this month.
– Lebanon should also start the vital negotiations with the International Monetary Fund, which should be completed quite quickly,” he said.
– Reforms, particularly of the financial and banking sector, are seen as necessary preconditions for a resumption of IMF talks and the subsequent unlocking of foreign aid.
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Letter Requesting Donation for School
Our school “Lady of the Tower School for the Sisters of the Holy Family” is located in Bekaa- Lebanon in the district of Deir El Ahmar. — atiejelmouallem.com
From 1932 till now, our school still taking care of poor children, but due to the economic circumstances in Lebanon in general, and in our school in particular, we require your generous attention in the form of donations.
Your donation and help can bring a smile to thousands of faces by helping them to achieve a good life and to continue their learning in our school.
Learn more.
Wealth Fund of Oil-Rich Saudi Arabia Plans Green Debt ‘Soon’ – Bloomberg — www.bloomberg.com
Highlights:
– The Public Investment Fund will announce the green issuance “very soon,” Governor Yasir Al-Rumayyan said in a virtual event on Tuesday. The PIF, as the fund is known, is also working with BlackRock Inc. on developing an ESG framework, said Al-Rumayyan, who is also chairman of Saudi Aramco, the world’s biggest oil company.
– A boom in global sales looks set to take ethical debt issuance toward $1 trillion this year, with the U.K.’s green bond debut breaking records this week.
– The kingdom is planning to set up a regional exchange for trading carbon credits and offsets as it seeks to promote efforts to reduce harmful emissions.
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Banks Flocked to Saudi Arabia But Still Await IPO Fee Riches – Bloomberg — www.bloomberg.com
Highlights:
– Despite attracting $125 billion in orders from investors for an initial public offering of Saudi Telecom Co.’s internet-services unit, banks including Morgan Stanley and HSBC Holdings Plc are set to share just about $12 million in fees, Arabian Internet and Communications Services Co., also known as solutions by stc, said in its prospectus.
– The Saudi deal’s pot also gets split between a local bank, auditors and legal advisers — and will even be used to cover the cost of printing the prospectus.
– IPO riches have yet to materialize for global banks despite a bonanza of share sales this year.
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