Abu Dhabi sovereign wealth fund has reduced its holding in Italian bank UniCredit by more than half.
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Abu Dhabi sovereign wealth fund has reduced its holding in Italian bank UniCredit by more than half.
Islamic robo-advisor Wahed Invest has enlisted Sharia Review Bureau (SRB) to manage its sharia compliance covering client agreements, advisory terms and its portfolio of Islamic investment vehicles.
Sovereigns in the GCC have been given a negative outlook for 2020 by rating agency Moody’s which has cited slow fiscal reforms, weak growth and higher geopolitical risk as the reasons for the downgrade.
The Kuwait Stock Exchange has ended 2019 as the top performer among Mena’s exchange indices finishing the year up more than 32.4%.
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) has launched a $1 billion fund of funds designed to provide capital for private equity and venture capital funds focused on small businesses (SMEs) in the region.
The Qatar Investment Authority (QIA) has agreed to acquire a 25.1% stake in Adani Electrical Mumbai Limited from its parent company, Adani Transmission Limited (ATL).
Rating agency Fitch has warned that Lebanon is likely to default on the huge debt facing the country.
Qatar is looking to bolster its ambitions to be Mena’s leading Islamic finance centre after announcing plans to create a centralised Sharia board and introduce new regulations for the sector.
Abu Dhabi-based Catalyst Partners, a $1 billion fund backed by the state-owned Mubadala Investment Company, has splashed out $225 million on its first investments.
Arabian Bourse (ABX), the Abu Dhabi-based crypto asset exchange and custodian, has received a multi-million dollar investment from a Mena-based blockchain company, HBK-GoChain.
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