Abu Dhabi-based investment firm BlueFive Capital has emerged as one of the lead investors in a funding round worth nearly $3 billion for Chinese artificial intelligence startup Kling AI, a company specializing in AI-powered video generation. The latest capital injection places Kling AI’s valuation at approximately $18 billion, underscoring growing investor confidence in the rapidly …
The UAE’s non-oil private sector recorded its slowest pace of expansion in more than five years during June, as lingering geopolitical uncertainty in the Middle East, coupled with cautious consumer spending and rising business costs, weighed on economic activity. According to the latest S&P Global Purchasing Managers’ Index (PMI), the seasonally adjusted headline reading slipped …
Saudi Arabia’s Public Investment Fund (PIF) posted a remarkable financial performance in 2025, with consolidated net profit climbing 152 percent year-on-year to SR65.1 billion ($17.33 billion), underscoring the growing strength of the kingdom’s sovereign wealth fund as it scales its global investment strategy. The sharp rise compares with SR25.8 billion recorded a year earlier and …
Major stock markets across the Gulf traded higher on Wednesday, with investors favouring financial and energy shares despite lingering uncertainty surrounding the latest diplomatic efforts between the United States and Iran. Markets remained watchful as high-level discussions involving Washington and Tehran continued through Qatari mediation rather than direct engagement. Senior U.S. representatives arrived in Doha …
Gulf Equities Advance as Banking and Energy Stocks Offset Diplomatic Uncertainty Read More »
Mashreqbank has successfully completed a $500 million perpetual Additional Tier 1 (AT1) capital issuance after attracting investor demand that exceeded $1 billion, allowing the Dubai-based lender to price the deal tighter than initial guidance. The perpetual non-call 5.5-year securities were issued at par and carry a fixed annual coupon of 6.625%, translating into a yield …
Mashreqbank Draws Strong Demand for $500 Million AT1 Bond, Tightens Pricing Read More »
Bahrain-based alternative asset manager Investcorp is preparing to invest another $350 million across three to four companies in the Gulf Cooperation Council (GCC) through its $750 million Golden Horizon Partnership fund, reinforcing its long-term strategy of backing established family-owned enterprises with regional growth ambitions. The fund, launched in partnership with China Investment Corporation, has already …
Abu Dhabi-based XRG and Italy’s Eni are expanding their footprint in Argentina’s fast-growing energy sector after striking separate agreements with state-controlled oil producer YPF to take minority positions in three strategic upstream assets tied to the country’s flagship LNG ambitions. Under the agreements, XRG and Eni will each hold a 32% interest in the Meseta …
XRG and Eni Deepen Argentina Bet with Entry into Vaca Muerta Gas Blocks Read More »
ADNOC Logistics & Services (ADNOC L&S) has sharply upgraded its financial outlook for 2026, pointing to significantly stronger profitability than previously anticipated as demand across its shipping operations continues to outperform expectations. The Abu Dhabi-listed logistics and maritime company now expects net profit to climb in the high-60% range this year, a substantial improvement from …
AD Ports Group and Emirates Global Aluminium (EGA) are joining forces to invest AED 84 million (around $22.9 million) in a major upgrade of EGA’s dedicated berth at Khalifa Port, a move aimed at boosting cargo efficiency and supporting larger bulk shipments. The infrastructure project is designed to enhance the berth’s operational performance, enabling it …
AD Ports and EGA Commit $22.9 Million to Expand Khalifa Port Cargo Capacity Read More »
Iraq has warned that it may be forced to explore every available course of action if its oil production quota within OPEC is not substantially increased, according to a senior official from the country’s oil ministry. The remarks come as Baghdad intensifies efforts to secure a larger production allocation, arguing that current limits no longer …
Iraq Signals Tough Stance on OPEC Output Limits Amid Deepening Fiscal Strain Read More »
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