Regulatory pressures and fierce competition will lead to significant consolidation of the life industry in the UAE and Saudi Arabia over the next two years, according to a report by S&P Global Ratings.
Saudi Arabia’s Capital Market Authority (CMA) board has given the green light to foreigners in the Kingdom to trade Real Estate Investment Trusts (Reits) on the Saudi bourse.
Saudi Arabia’s record debt sale last week showed that emerging market bonds remain in strong demand with yield-hungry investors. However, the question is whether appetite could reverse as quickly as it has in the past.
The price of brent crude broke through $50 (£38, €44) per barrel on Thursday afternoon prompting headlines writers to tout oil’s return to bull market territory.
Axa and Allianz have seen a boost in profits out of their operations based in Saudi Arabia, according to data published by the Kingdom’s market intelligence firm Argaam.
Abu Dhabi has maintained its AA/A-1+ sovereign credit rating as oil prices recover from their record low levels.
Expats living in Saudi Arabia sending money back to their home countries could face a cap in line with their earnings as the Kingdom looks to tighten rules around personal wealth leaving the country.
Saudi Arabia-based fund manager Sedco Capital has been awarded a mandate by Milltrust International to manage a new Middle East and North Africa (MENA) fund.
Saudi Arabia has formally unveiled its National Transformation Plan, which sets out how it will more than triple its non-oil revenue, cut state handouts and create more than 450,000 new jobs in the private sector, all by 2020.
Saudi Arabia’s National Transformation Plan, the major part of the “Vision 2030” reform agenda announced by deputy crown prince Mohammed bin Salman in April, is expected to be approved by the government on Monday, according to media reports.
The Saudi Arabian Public Investment Fund (PIF), the kingdom’s long-term sovereign investment arm has invested $3.5bn (£2.4bn, €3.1bn) in the US-based online taxi service Uber, the Saudi press agency announced.
Eshara Capital, the first investment fund managed out of the Abu Dhabi Global Market (ADGM), has launched its first strategy, providing global investors access to UAE and Saudi Arabian equity markets and upcoming IPOs.
