Category Archives: Business & Investments

Business & Investments

Forbes Middle East Unveils The Middle East’s Top 30 Asset Managers 2024

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Forbes Middle East Unveils The Middle East’s Top 30 Asset Managers 2024

Meet The Region’s Prominent Money Experts   

  • The 30 asset managers recorded over $340 billion in AUM in 2023.
  • Saudi reigns with 14 entries, followed by Kuwait with five.
  • Of the 30 asset managers, 16 are subsidiaries of banks.

Dubai, April 15, 2024: Forbes Middle East has unveiled its Top 30 Asset Managers ranking, highlighting the region’s specialists offering investors an avenue to diversify their portfolios, access professional management expertise, and participate in the region’s economic growth story. Combined, the 30 asset managers oversaw more than $340 billion in assets in 2023, including local and international equity and debt funds, discretionary portfolios, real estate investments, REITS, and private equity. Individuals were ranked based on their past experiences, key achievements in the last year, and the firm’s total assets under management (AUM). 

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Business & Investments

IndusInd International Holdings Limited (IIHL) to partner with Invesco and acquire 60% stake in Invesco India Asset Management Limited (IAMI)

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IndusInd International Holdings Limited (IIHL) to partner with Invesco and acquire 60% stake in Invesco India Asset Management Limited (IAMI)

IIHL has shareholders from the Indian diaspora in the UAE

Dubai/Mumbai, 10 April 2024 – IndusInd International Holdings Limited (“IIHL”), a Mauritius based Investment Holding Company with several investments in banking and financial assets, and Invesco Ltd. announced today that they have entered into a definitive agreement to form a joint venture (“JV”), and IIHL to acquire a 60% stake in Invesco Asset Management India Limited (“IAMI”).

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Business & Investments

UAE Businesses Brace for Eid Surge

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Dubai, UAE, April 2024: Businesses in the UAE are anticipating a significant surge in activity during Eid. As one of the most celebrated festivals in the region, Eid brings about a palpable sense of joy and festivity, accompanied by increased consumer spending.

From retail outlets offering special discounts on clothing, electronics, and gifts to restaurants bustling with families and friends enjoying lavish feasts, the entire commercial landscape is poised for a boost. Additionally, with the UAE being a popular destination for tourists during Eid, sectors like automobiles, hospitality and tourism are primed for a surge in demand.

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Business & Investments

Lombard Odier CIO Office Viewpoint: How to trade your dragon

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CIO Office Viewpoint – 03.04.2024: How to trade your dragon

By John Woods, CIO APAC and Michael Strobaek, Global CIO

Key takeaways

  • China’s policy priorities have eclipsed markets, leading to net outflows as the world’s second-largest economy is too big to ignore, but too uncertain to inspire investor confidence
  • We removed strategic allocations to Chinese debt and equities in late 2023. Tactically, it is still too early to take a positive view on direct investments into Chinese stocks, bonds, or the yuan
  • However, we see tactical alternatives to direct China exposures that can contribute to returns in a globally balanced portfolio
  • Proxies include Europe’s luxury goods makers, and equities in South Korea and Taiwan, which are economically correlated with China. Beneficiaries of ‘friend shoring,’ including India and Mexico, may also gain from new capital and technology flows.
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Business & Investments

PNC Menon becomes richest Omani citizen as per Forbes Global Ranking

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PNC Menon becomes richest Omani citizen as per Forbes Global Ranking

Dubai, April 4, 2024: PNC Menon, Founder and Chairman of Sobha Group and an eminent real estate tycoon, climbs up in Forbes Global Ranking and becomes the richest Omani Citizen in the list. The achievement further highlights his position as a visionary leader and industry trailblazer in the Middle East, as well as marks a milestone in the country’s thriving real estate market.

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