Mena stories

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...

CFI Financial Markets names CEO

UAE-based investment broker CFI Financial Markets has named Jareer Hiary as chief executive. He succeeds Nidal Abdelhadi who is leaving the firm to pursue his...

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 launches investment apprenticeship scheme

The Saudi Central Bank has opened registration for the latest edition of its Investment Immersion Program (IIP), an apprenticeship scheme aimed at local investment...

ADQ acquires stake in Alpha Dhabi construction subsidiary

Abu Dhabi sovereign wealth fund ADQ has acquired a 49% stake in Alpha Dhabi Construction Holding (ADCH). Parent company Alpha Dhabi Holding (ADH) will retain...

Digital assets hedge fund launches in Abu Dhabi

Triton Liquid, a hedge fund specialising in digital assets, has secured in-principle approval from the Abu Dhabi’s Financial Services Regulatory Authority (FSRA). The firm was...

GFH plans acquisition of Ithmaar Holdings assets

Bahrain-based investment firm GFH Financial is planning to acquire the investment and financing portfolios of another Bahrain-based institution, Ithmaar Holdings. GFH made the announcement via...

Investcorp seeks tie up with China wealth fund

Bahrain-based alternative investment manager Investcorp is reportedly in talks with China’s sovereign wealth fund about an US$800 million investment. The investment, from China Investment Corp...

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...