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An ex-UBS banker is set to launch a multi-strategy hedge fund in Abu Dhabi, marking a significant move in the financial landscape of the region. This initiative reflects the growing trend of financial professionals establishing investment firms in emerging markets.
Azura Partners has strengthened its Geneva presence by hiring Tarek Sidky and Samir El Nawawy, both former private bankers at Credit Suisse and UBS. Sidky, with nearly 40 years of experience, will serve as a partner, while El Nawawy joins as an Executive Director, focusing on ultra-high-net-worth clients. Their recruitment aligns with Azura's growth strategy in wealth management, managing $4.5 billion in assets across multiple global offices.
Emirates NBD's Liv has launched cryptocurrency trading through its Liv X app, allowing users to buy, hold, and sell digital assets seamlessly alongside traditional banking services. This initiative reflects the UAE's commitment to becoming a global hub for digital assets, supported by recent regulatory advancements. The move is expected to enhance consumer trust and encourage other banks to adopt similar services, tapping into the rapidly growing retail crypto market in the region.
Forty-one Egyptian companies have formed the Arab Alliance for Industrial Investment to enhance exports and engage in reconstruction projects across Arab markets, starting with Libya and expanding to Iraq and the UAE. The initiative aims to provide investor support services and capitalize on growing economic ties, particularly in Iraq, which seeks significant foreign investment for reconstruction efforts. Additionally, a proposed USD 27 billion development project in Gaza aims to improve living conditions and reduce tensions in the region.
Talabat has acquired 100% of Instashop from Delivery Hero SE for USD 32 million, effective February 25, 2025. Instashop will operate independently within Talabat’s grocery and retail vertical, enhancing service delivery and expanding partner networks across MENA. This partnership aims to leverage synergies for improved customer experience and operational efficiency.
The Middle East's sustainable bond market is projected to reach $18 billion to $23 billion in 2025, primarily driven by the UAE and Saudi Arabia, which are expected to contribute around 60% of the total volume. Sustainable bonds currently represent over 25% of regional issuances, significantly exceeding the global average of 9%. Despite a decline in 2024 due to rising interest rates, optimism remains for a rebound in green bond activity, with emerging trends like blue and transition bonds indicating a diversification in sustainable finance strategies.
The rise of eSIM technology is poised to disrupt the telecom industry, with Apple potentially leading the charge through innovative business models that encompass device sales, data plans, and streaming services. As eSIM connections in the MENA region are projected to surge from 5 million in 2023 to 135 million by 2028, telecom operators must adapt by enhancing customer journeys, building lasting relationships, and repositioning themselves as full-service providers to compete with global giants. Strategic partnerships and a focus on integrated offerings will be crucial for operators to thrive in this evolving landscape.
The UAE's real GDP grew by 3.8% in the first nine months of 2024, reaching Dh1.32 trillion, largely driven by a 4.5% increase in non-oil sectors, which accounted for 74.6% of the GDP. Dubai's economy also expanded by 3.1% during this period, with significant contributions from wholesale and retail trade, transportation and storage, and financial and insurance activities.
Deem Finance has secured a $400 million asset-backed securitization in partnership with J.P. Morgan to enhance its lending capabilities for consumers and SMEs. This transaction diversifies Deem's funding sources and supports its growth strategy, contributing to the UAE's financial ecosystem. The collaboration underscores the importance of access to credit for underserved communities in the region.
Talabat has acquired 100% of InstaShop for $32 million, fully funded by its cash reserves, to enhance its grocery and retail operations in the MENA region. InstaShop, a prominent delivery platform in the UAE and Egypt, reported a GMV of $631 million in 2024, contributing 8% to Talabat's overall GMV of over $2.5 billion. Integration efforts are focused on aligning operations and technology to optimize fleet management and customer insights.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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