Leaders from all six Gulf Cooperation Council (GCC) states are set to hold their 39th annual meeting on Sunday, despite ongoing tensions between Qatar and host country Saudi Arabia.
The important gathering, which usually features the heads of state of the six GCC nations, is taking place 18 months into an economic boycott of Qatar by Saudi Arabia, the United Arab Emirates (UAE), Egypt and Bahrain.
November was the best month for foreign flows into emerging markets since January, with $33.9 billion being invested, according to the Institute of International Finance (IIF).
The Institute’s monthly Capital Flows Tracker, which was distributed to the media on Wednesday, said net non-resident portfolio inflows were driven by strong demand for emerging market (EM) bonds and Chinese equities.
The Saudi Capital Market Authority (CMA) has revealed that the number of women investing in the Saudi stock market reached more than one million by the end of the third quarter of this year.
The number of women with portfolios in the Saudi bourse, the largest financial market in the Middle East, stood at 1.003 million at the end of the quarter, the highest level recorded in three years, the latest Arabic report released by the CMA showed.
Qatar announced on Monday it will leave the Organization of the Petroleum Exporting Countries(OPEC) starting next January to focus on gas, and the United Arab Emirates (UAE) described Doha’s decision as a reflection of the decline of its “role and influence”.
Investment funds operating in the Arab region lack local talent, the Chief Private Equity and Direct Investment Officer in Kuwait’s KFH Capital investment company, Mohammad Alhajeri, said, He urged private equity firms and Arab governments to step up efforts to support funds led by local managers.
“The main problem that we have in the region, and I am not trying to be a racist, is that the majority of funds are managed by expats and this is a major problem,” Alhajeri said, speaking to Zawya in Arabic on the sidelines of the Alternative Investment Management Summit (AIM) in Dubai on Monday.
While CEOs who secure more than $100 million (US) in funding might be tempted to embark on a spending spree to press on into new markets, Property Finder’s chief executive officer and founder said his latest investment round will see the portal solidifying its brand in its eight existing territories.
With the announcement on Monday that growth equity firm General Atlantic had led a $120 million investment round into the Dubai-based tech company, the next obvious steps would seem to be where will Property Finder go next? And when will it consider proceeding initial public offering?