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PGIM plans first Middle East office

PGIM, the asset management arm of UK insurer Prudential, has announced plans to move into the Middle East. The firm, which has more than US$1.3...

Turkish investment app Midas raises $45m

An investment app focused on retail investors in Turkey has pulled in US$45 million after completing its latest funding round. Istanbul-based startup Midas stated that...

Saudi funds AuM reached $33bn in Q4

The assets of foreign and domestic investment funds in Saudi Arabia grew by 5% in Q4 to reach US$33 billion. Local assets, which grew by...

Saudi Arabia to downscale mega-city development

NEOM, the US$500 billion megacity project that lies at the centre of Saudi Arabia’s Vision 2030 economic reform, is reportedly set to be significantly...

StanChart and Old Mutual launch Mena wealth platform

The respective venture capital arms of Standard Chartered and Old Mutual, SC Ventures and NEXT176, have collaborated on the launch of a financial wellness...

Saudi Arabia sees surge in private equity

Private equity (PE) activity in Saudi Arabia reached US$4 billion in 2023, further extending a rapid increase over the last five years. The 2019-2023 Saudi...

Mena millennials to inherit $90trn by 2044

In the next 20 years, millennials in the Middle East will become the richest generation in history, according to research from property consultant Knight...

DIFC unveils digital assets law

The Dubai International Financial Centre (DIFC) has enacted what it claims is the world’s first digital assets law. The legislation is designed to ensure the...

UAE and Kuwait agree to end double taxation

The tax authorities of the UAE and Kuwait have penned an agreement to end double taxation between the two countries on income and capital...

Saudi and Bahrain bourses sign cooperation agreement

The respective stock exchanges of Saudi Arabia and Bahrain have signed an agreement designed to bring more connectivity and liquidity to the region’s securities...