Invesco: Middle East sovereigns focus on liquidity as over half saw drawdowns in 2020
July 13, 2021 As the majority of governments stepped in to support local economies and plug fiscal deficits, over half of the sovereigns in the Middle East region saw drawdowns, compared with a third globally. Of these 78 percent were from liquidity sovereigns and 58 percent from investment sovereigns. Middle East sovereign funds built large liquidity reserves following the global…
Saudi Arabian solar: how the state has invested in overseas solar projects
July 7, 2021 Major investments in countries across the Middle East and North Africa could make Saudi Arabia a key supporter, if not producer, of solar power in the region. With Saudi money and local support for solar power, these plans could establish a new sense of collaboration and renewable investment in the region. Read the original article at Power…
Shuaa Capital considers three SPACs as investor enthusiasm finally catches on in MENA
July 6, 2021 Dubai financial services firm Shuaa Capital PSC is considering setting up three blank-check companies of around $200 million each, rapidly opening up a potential boom market for special purpose acquisition vehicles to Gulf investors. Interest is taking off in the Middle East as momentum for the vehicles has waned in the U.S. following lackluster performance and increasing…
OPEC resumes oil policy talks amid Saudi-UAE standoff
July 5, 2021 OPEC+ ministers called off oil output talks after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed. The failure of the talks, which had partly been about an increase in oil output from next month, helped to drive up international benchmark…
MENA SPACs drive gains momentum as Abu Dhabi sovereign fund prepares to launch its own
July 2, 2021 Investor mania for SPACs is accelerating in the oil-rich Gulf, where Abu Dhabi sovereign fund Mubadala is poised to launch two blank-check companies and a Dubai-based asset manager is raising $200 million to target mergers with companies focused on technology and healthcare in the Middle East, the Financial Times reports. Read more at: Abu Dhabi Sovereign Fund…