In the wake of the recent LDI liquidity crisis, the Pensions Regulator (TPR) has released new guidance for trustees, outlining practical steps to mitigate risk when using leveraged liability-driven investments (LDI). The guidance, published on April 24, replaces previous advice issued by TPR in October and November 2022. The crisis, triggered by the government’s “Growth …
WASHINGTON — With the deadline to raise the government’s $31.4 trillion borrowing limit looming, representatives of President Joe Biden and congressional Republicans concluded another round of debt ceiling talks on Tuesday with no signs of progress. The deep divisions between the two parties on how to rein in the federal deficit continue to hinder negotiations, …
Debt Ceiling Talks Stagnate as White House and Republicans Remain at Impasse Read More »
MUSCAT — Oman International Development & Investment S.A.O.G (Ominvest) has announced a revised offer to acquire a substantial stake in Ahli Bank, one of Oman’s prominent financial institutions. In a statement released on Wednesday, Ominvest stated that the consortium it leads intends to make an offer to acquire up to 75% of the lender, rather …
Oman’s Ominvest Plans to Acquire 75% Stake in Ahli Bank Under Revised Offer Read More »
In a resounding testament to Qatar’s unwavering commitment to economic diversification, the non-oil sector experienced a remarkable surge of 9.9% growth in the fourth quarter of 2022, while the oil sector saw a commendable increase of 4.8%. Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, shared this groundbreaking achievement during …
Insider, the Turkish AI-based marketing firm, has secured a substantial investment of $105 million in a funding round led by existing investors Qatar Investment Authority (QIA) and Esas Private Equity. The investment brings Insider’s total funding to an impressive $274 million, as announced by QIA on their official website. Ahmed Ali Al-Hammadi, the Chief Investment …
Egypt’s prominent financial institution, EFG Hermes Holding, announced a remarkable first-quarter profit after tax of EGP 885 million ($28.58 million) for 2023, demonstrating an astounding surge of 157% compared to the previous year. Despite grappling with inflationary pressures and currency devaluation in Egypt, the bank achieved record-breaking revenues of EGP 4.5 billion, marking an impressive …
ABU DHABI — The United Arab Emirates (UAE) has achieved remarkable economic growth, surpassing expectations and positioning itself among the world’s highest performers with a growth rate of 7.6% in 2022. Led by surging oil and gas prices, the UAE’s expansion included a robust 6.6% growth in the non-oil sector, solidifying its position as a …
UAE Economy Surpasses Expectations, Set to Outpace Global Growth in 2023 Read More »
ABU DHABI — Abu Dhabi National Oil Co. (ADNOC) and Abu Dhabi National Energy Co. PJSC (TAQA) have jointly announced their partnership in a groundbreaking sustainable water supply project valued at approximately $2.4 billion. The majority stake in the project will be held by ADNOC and TAQA, while a consortium will retain a 49% stake …
Abu Dhabi’s ADNOC and TAQA Collaborate on $2.4 Billion Sustainable Water Project Read More »
– Madras High Court: The court ruled that under the Right to Education, economically weaker section (EWS) students should not be required to pay any fees for their education. The court emphasized that the state cannot evade its responsibility by claiming reimbursement of tuition fees alone. – Supreme Court Constitution Bench Tracker: A significant number …
India: Stories & Developments on Tuesday 23 May 2023 Read More »
In a significant development, the Federal National Council (FNC) of the UAE has given its approval to extend the duration of work permits from two years to three. The move aims to alleviate the financial burden associated with obtaining work permits for individuals and employers. Presently, work permits in the UAE are issued for a …
UAE Federal National Council Approves Proposal to Extend Work Permit Duration Read More »
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