Private equity company EWPartners is looking to close an $800 million investment fund in Saudi Arabia, its founder has said.

Saudi Arabia’s drive to sharply expand its water desalination capacity is drawing growing interest from private operators and financiers, as the kingdom targets an increase in capacity of more than 40 percent by 2030.

Abu Dhabi developers have embarked on an arduous quest, seeking specialist contractors to build theme parks and other entertainment destinations. Alamy/Del Jones Photography via Reuters Connect The Mission Ferrari ride at Ferrari World – one of several theme parks on Abu Dhabi's Yas Island Theme parks planned for Yas Island Aldar: ‘Challenging to find right partners’ Miral sets July deadline for Potter tender The emirate’s project pipeline includes Disneyland Abu Dhabi and a

Public listings offer access to capital markets but they do not resolve the issues that often plague family businesses, the chairman of one of the Gulf’s largest and oldest family-owned conglomerates has told AGBI. Alamy via Reuters | Listing is seen as a way to professionalise family-run companies, but Mishal Kanoo argues that it does not fundamentally change family dynamics Interview with Mishal Kanoo 85% of Gulf companies family run IPOs can’t resolve their issues Those c

HSBC Holdings announced on Tuesday that the group’s operations in the Middle East and Turkey will be folded into a unit headquartered in Hong Kong from the beginning of next year. Doug Houghton/Alamy via Reuters | The entrance to HSBC's headquarters in Hong Kong. The bank's Middle East operations will be based in the building from next year Middle East unit CEO leaving Decision takes effect next year Change intended to ‘reduce duplication’ Stephen Moss, who has been based in

Investment banking fees on bond and sukuk issuance in the Middle East and North Africa (Mena) have surged this year as governments, corporations and commercial banks raise increasing amounts of debt to meet their funding needs. Alamy/Hasan Zaidi via Reuters | Central Riyadh. Of total Mena investment banking fees, 45 percent were generated in Saudi Arabia Fees in Mena region up 74% Highest nine-month total this century $150bn estimate for 2024 issuance Mena debt capital marke

Saudia Airlines’ electric jet plane is the first step towards zero-carbon commercial flights in medium-sized planes, according to its German manufacturer Lilium. Saudia Group | Lilium's Daniel Wiegand meets Saudia Group director Ibrahim Al-Omar at the launch event Saudia unveils Lilium jet Long-term collaboration plan First service expected in 2026 Daniel Wiegand, co-founder and chief engineer for innovation at Lilium, said both parties were looking beyond the initial sale o

Qatar’s telecom major Ooredoo has secured a QR2 billion ($552 million) financing deal to accelerate the development of its data centres and artificial intelligence (AI) ventures. Ooredoo and bank executives at the signing ceremony The 10-year hybrid facility, comprising both commercial and Islamic tranches, was provided by Qatar National Bank, Doha Bank and Masraf Al Rayan. The company claimed this is the “largest transaction in value and tenor” ever offered in the Gulf natio

Suez Canal revenues have fallen by $6 billion this year amid regional geopolitical issues, president Abdel Fattah El Sisi has said. Alamy via Reuters | In July, Egyptian prime minister Mostafa Madbouly said that the Suez Canal was reporting losses of up to $550 million per month The income from the waterway, connecting the Mediterranean and the Red Sea, declined by between 50 percent and 60 percent in the first eight months of 2024, local media reported, citing the president’

Egypt’s central bank intends to list the state-run United Bank on the local stock exchange in the first quarter of 2025. United Bank | United Bank’s total assets increased to EGP106 billion ($2.2 billion) in June 2024 from EGP72 billion in 2021 The central bank is working to secure approvals from the Financial Regulatory Authority and the Egyptian stock exchange to launch the initial public offering (IPO), the UAE state-run Wam news agency reported. Details of the IPO were no

Adnoc Distribution, an Abu Dhabi-listed fuel and convenience retailer, will pay an interim dividend of AED1.3 billion ($350 million) for the first half of 2024. Wam | In the first half of 2024, Adnoc Distribution reported a 7.7 percent year-on-year rise in net profit to $319 million The dividend is the first instalment of the expected full-year 2024 dividend of $700 million. The payout falls under the five-year dividend policy, which has set an annual dividend of $700 million