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Business & Investments

LSEG Middle East & Africa Investment Banking review for first half 2024

LSEG Middle East & Africa Investment Banking review for first half 2024

INVESTMENT BANKING FEES

  • An estimated US$724.5 million worth of investment banking fees were generated in the Middle East & North Africa during the first six months of 2024, 23% more than the value recorded a year ago and the third highest first half total in the region since our records began in 2000. 
  • Debt capital markets underwriting fees increased 81% to US$230.9 million, the highest first half debt capital markets fee total in the region since our records began in 2000.
  • Equity capital markets underwriting fees increased 62% year-on-year to US$206.7 million.
  • Advisory fees earned from completed M&A transactions totalled US$130.7 million, a 14% increase from previous year levels.
  • Syndicated lending fees declined 28% to a four-year low of US$156.4 million.
  • Forty-seven percent of all MENA fees were generated in Saudi Arabia in the first half of 2024, followed by the United Arab Emirates (36%).
  • HSBC earned the most investment banking fees in the region during the first half of 2024, a total of US$60.3 million or an 8.3% share of the total fee pool.
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Business & Investments

stc Group signs strategic partnership with Nexthink

The partnership supports stc Group’s overarching digital transformation strategy, and its aim to be the employer of choice for top digital talent.

KSA – August 6 2024: stc Group, has signed a strategic partnership with Nexthink, a global leader in Digital Employee Experience management. This partnership will support  in implementing digital employee experience (DEX) management solutions to enhance stc Group service delivery and retain its position as a world-class digital leader.

stc Group is a global digital enabler, comprising 13 subsidiaries across the Middle East, North Africa and Europe. The Group has diversified its offer over the years and is now a provider of innovative digital products and solutions, encompassing digital infrastructure, cloud computing, cybersecurity, Internet of Things (IoT), digital payments, digital media, and digital entertainment.

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Business & Investments

Presight shows strong revenue and profit growth inH1 2024 financial results

Presight reports H12024 results demonstrating year-on-year increase

in revenue and profitabilityunderpinned by

multi-year contracts, favorable deployment mix and AIQ contribution

Abu Dhabi, UAE 5August 2024– Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) today announced first half results for the six months to 30thJune 2024,with strong growth in year-on-year revenue and profitability,underpinned by multi-year contracts, positive deployment mix, and the contribution from AIQ.

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Real Estate

“Safety and Security” Enhance Continuity of Dubai’s Upward Curve

– Dubai become the world’s real estate hub and the first choice for the wealthy individuals

-Dubai’s real estate strong demand still exceed expectations,

Walid Al Zarooni

Dubai, United Arab Emirates

 Sunday, August 4, 2024

W Capital Real Estate Brokerage reported that Dubai has become the world’s real estate hub in recent years, with high returns on investment and the security and secure environment, which has become the most positively influential element in light of the escalation of geopolitical tensions globally, and in light of the state of “uncertainty” surrounding the global economy.

The brokerage report confirmed that the Dubai real estate sector has made the difficult equation by maintaining the momentum of growth and record sales over the past years, amid an unprecedented strong demand that continues to exceed expectations.

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Technologies

Inaugural 24 Fintech to Host Senior Government Officials and Global Finance Sector Leaders

  • H.E Mohammed Al Jadaan, Chairman of Financial Sector Development Program (FSDP), confirmed as event speaker
  • 24 Fintech summit will feature 175 hours of expert-led content delivered by prominent speakers from leading Saudi and international financial institutions; including Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), Insurance Authority (IA), and Fintech Saudi
  • Summit to address governance, risk and policy, cybersecurity, global interoperability, and innovation in payments

Riyadh, Kingdom of Saudi Arabia – 01 August 2024: As a new era of fintech advancement and adoption unfolds across Saudi Arabia, the inaugural edition of 24 Fintech – the country’s new financial services focused summit and exhibition – will offer a stage to senior government officials and global leaders in the finance sector to address critical topics impacting transformation of the Kingdom’s finance industry.

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