Search

Copyright of Lebensmittel Zeitung is the property of dfv Mediengruppe and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The United Arab Emirates' federal wealth fund has named Mohamed Hamad Al Mehairi as its new CEO, replacing Mubarak Rashed Al Mansoori. Al Mehairi previously worked at the Emirates Investment Authority and other prominent organizations in the UAE. Additionally, Hassa Balouma has been promoted to the position of executive director, making her one of the most senior women at a sovereign wealth fund in the Persian Gulf. The EIA, established in 2007, is the smallest of the UAE's wealth funds and holds significant stakes in telecommunications companies and other local listings. [Extracted from the article]

Abu Dhabi-based health-care platform PureHealth Holding PJSC, controlled by a sovereign wealth fund and conglomerate, is planning to list in the United Arab Emirates' capital. The company, which operates over 25 hospitals and 100 clinics, is expected to start trading in December, pending regulatory approvals. PureHealth has grown through acquisitions, including a $1.2 billion deal to buy a UK hospital operator and a minority stake in a US health-care provider. This listing is part of Abu Dhabi's efforts to create national champions across sectors. [Extracted from the article]

David Yang, a former executive for the United Arab Emirates' largest sovereign wealth fund, has been hired by the family office of the billionaire Chanel dynasty. Yang, who previously worked for the Abu Dhabi Investment Authority, now holds a similar role at Mousse Partners, the family office managing the wealth of the Wertheimer family, owners of Chanel. Mousse Partners, which invests in various assets including stocks, real estate, and private equity, is run by Charles Heilbronn and has recently participated in investments such as the privatization of Rothschild & Co. and investments in Bravo Sierra and Evolved By Nature. Yang's appointment as a director of the Hong Kong unit of Mousse Partners was confirmed through registry filings. [Extracted from the article]

The article discusses planning of Middle East's major energy companies to targeting blue hydrogen-linked with carbon capture, storage, and utilization (CCUS). Topics discussed include partnership of ACWA, Air Products, and NEOM Co. for renewable-hydrogen-based ammonia facility; focus on emerging sectors to drive private-sector investment in Saudi Arabia; and focus on promoting economic development and creating new opportunities.

Copyright of TextilWirtschaft Online is the property of dfv Mediengruppe and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

(Bloomberg) -- Lulu Group International, which runs one of the Middle East's largest supermarket chains, is considering an initial public offering early next year in the United Arab Emirates, people familiar with the matter said. Abu Dhabi-based Lulu Group was founded by Indian entrepreneur Yusuff Ali, who set up the first Lulu store in the early 1990s during a years-long oil boom in the Gulf region. [Extracted from the article]

The article discusses the international growth of and national concerns on sovereign wealth funds (SWFs). It provides an overview of the history and recent activities of SWFs and offers information on concerns for national government about their investments. It also describes the outlines of regulation of government's investment in the U.S. Furthermore, it offers information on several SWFs in the world, such as the largest SWF, Abu Dhabi Investment Authority (ADIA) of United Arab Emirates.

The article reports that the sovereign wealth funds (SWFs) of Abu Dhabi, United Arab Emirates, Qatar and Bahrain are increasing due to the development of green and high-end luxury cars. It states that these countries are shareholders of Mercedes-Benz, Porsche and McLaren which led to the establishment of an automotive industry in their areas. Aabar Investments PJSC of Abu Dhabi is the biggest investor with 720 million U.S. dollars invested for a new automotive manufacturing plant in Algeria.

The article reports on the sovereign wealth funds (SWFs) of the members of the Gulf Cooperation Council (GCC) in the Middle East. It states that increased portfolio and direct foreign investments enable GCC governments to augment their asset by 1.81 trillion U.S. dollars. It mentions Abu Dhabi, United Arab Emirates as the leading investor in GCC SWFs with 48 billion U.S. dollars invested in the U.S.

(Bloomberg) -- Emirates Global Aluminium, the Middle East's biggest producer of the metal, plans to build the largest aluminum recycling facility in the United Arab Emirates. Read more: Emirates Global Aluminium, GE Sign Pact to Cut Greenhouse Gases ©2022 Bloomberg L.P. [Extracted from the article]

The company is interested in acquisitions of power firms in places including the U.S. and Europe, he said. Keywords: 1448162DUH; BP/@LN; TAQA@UH; ALTNRG; ASIA; BON; BUSINESS; CMD; COS; FRX; INDUSTRIES; MARKETS; MIDEAST; NRG; OIL; SKOREA; STK; WORLD EN 1448162DUH BP/@LN TAQA@UH ALTNRG ASIA BON BUSINESS CMD COS FRX INDUSTRIES MARKETS MIDEAST NRG OIL SKOREA STK WORLD The United Arab Emirates' biggest renewable-energy company will make acquisitions and sell bonds as part of a plan to more than double its operations this decade and help the country achieve a net-zero target. R60D1SDWRGG0 (Bloomberg) -- The United Arab Emirates' biggest renewable-energy company will make acquisitions and sell bonds as part of a plan to more than double its operations this decade and help the country achieve a net-zero target. [Extracted from the article]

Keywords: 1448162DUH; BP/@LN; TAQA@UH; ALLTOP; ALTNRG; BON; BUSINESS; CMD; COS; FRX; INDUSTRIES; MARKETS; MIDEAST; NRG; NRGTOP; OIL; STK; WORLD EN 1448162DUH BP/@LN TAQA@UH ALLTOP ALTNRG BON BUSINESS CMD COS FRX INDUSTRIES MARKETS MIDEAST NRG NRGTOP OIL STK WORLD The United Arab Emirates' biggest renewable-energy company will make acquisitions and sell bonds as part of a plan to more than double its operations this decade and help the country achieve a net-zero target. "We have very significant growth ambitions", Masdar's Chief Financial Officer Niall Hannigan said in an interview in Abu Dhabi, the UAE's capital. As part of the transaction, Adnoc and Taqa will buy stakes in Masdar from sovereign fund Mubadala Investment Co. Masdar wants to generate 50 gigawatts of clean power by 2030, which is the same ambition as BP Plc. [Extracted from the article]

The UAE has also hired Vienna-based Financial Transparency Advisors GmbH, run by former FATF assessors Gabriele Dunker and Michael Stellini, and Richard Gould, who used to work at the U.K.'s National Crime Agency, the people said. (Bloomberg) -- The United Arab Emirates is at increased risk of being placed on a global watchdog's list of countries subject to more oversight for shortcomings in combating money laundering and terrorist financing, even after a recent government push to stamp out illicit transactions. [Extracted from the article]

ADQ and TWF will also sign a deal to establish a venture fund to invest in technology companies. (Bloomberg) -- Turkey and the United Arab Emirates will sign cooperation pacts for their wealth funds and stock exchanges during one of the highest-level visits in years between the old Middle East foes. Abu Dhabi's sovereign wealth fund ADQ will sign a cooperation deal with Turkey Wealth Fund, or TWF, according to an official familiar with the talks. [Extracted from the article]

The United Arab Emirates named Maryam Butti Al Suwaidi as chief executive of the nation's markets regulator, in another senior appointment for a woman in the region. Al Suwaidi was previously the regulator's acting CEO. [Extracted from the article]

(Bloomberg) -- The United Arab Emirates has become the first of the Persian Gulf's petrostates to commit to eliminating planet-warming emissions within its borders. Still, the move will remain a largely symbolic one until policy makers announce short-term measure that show how the UAE's carbon-neutrality target can be met. "For years, Gulf countries kind of ignored climate concerns and pretended that they weren't realistic or were decades off", said Ben Cahill, senior fellow at the Center for Strategic and International Studies. [Extracted from the article]

Price guidance was narrowed by 25 basis points from the initial price thoughts for the 10-year and 20-year tranches, and it was lowered 30 basis points for the 40-year Formosa tranche, the person said. The United Arab Emirates was poised to complete its first ever dollar-bond sale as a combined federation, likely looking to lure investors with an attractive discount amid a slew of competing offerings. [Extracted from the article]

Abu Dhabi wealth fund Mubadala invested $1.2 billion in India's telecommunications provider Jio Platforms in June 2020, and India's Reliance recently announced an investment of $2 billion in Abu Dhabi's TA'ZIZ Industrial Chemical Zone. The United Arab Emirates and India are seeking to more than double non-oil trade to at least $100 billion over five years as the Gulf Arab state works to deepen ties with fast-growing economies beyond the Middle East. The country is already the UAE's second-largest trading partner, with around $40 billion in non-oil trade before the pandemic hit. [Extracted from the article]

The call between Erdogan and Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan was "very positive and friendly", UAE presidential diplomatic adviser Anwar Gargash commented on Twitter on Tuesday. (Bloomberg) -- The United Arab Emirates and Turkey appeared to ease longstanding regional tensions further with a rare call between the Persian Gulf state's defacto ruler and President Recep Tayyip Erdogan late on Monday. [Extracted from the article]

The call between Erdogan and Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan was "very positive and friendly" according to Anwar Gargash, a UAE presidential diplomatic adviser in comments on Twitter Tuesday. (Bloomberg) -- The United Arab Emirates and Turkey appeared to ease longstanding regional tensions further late on Monday with a rare call between the Persian Gulf state's defacto ruler and President Recep Tayyip Erdogan. [Extracted from the article]

(Bloomberg) -- The defacto ruler of the United Arab Emirates held a "positive and friendly" call with Turkey's President Recep Tayyip Erdogan to discuss bilateral ties, the latest sign of a rapid thaw between the two countries which have been locked in regional feuds. Turkey and the UAE have been on opposing sides of a proxy war in Libya and have disagreed on issues ranging from Syria to Iraq and the eastern Mediterranean. [Extracted from the article]

Erdogan in a televised interview, hinted he may speak with Sheikh Tahnoun's brother, the UAE's de facto leader, Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan. (Bloomberg) -- A surprise meeting between Turkey's President Recep Tayyip Erdogan and a senior security official from the United Arab Emirates is the clearest sign yet that the regional foes are ready to turn the page. [Extracted from the article]

Keywords: 144086Z; DBRG; ALLTOP; BUSINESS; CONS; CONSD; COS; FIN; GEN; GENTOP; GLOBALMACR; GOV; INDUSTRIES; LAW; MARKETS; MED; MIDEAST; NORTHAM; POL; TMT; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 144086Z DBRG ALLTOP BUSINESS CONS CONSD COS FIN GEN GENTOP GLOBALMACR GOV INDUSTRIES LAW MARKETS MED MIDEAST NORTHAM POL TMT TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU Tom Barrack Jr., the founder of Colony Capital Inc. and a former top fund-raiser for Donald Trump, was arrested on charges of illegally lobbying for a foreign government, an allegation prosecutors have successfully brought against several other Trump associates. A "Betrayal" of Trump Prosecutors said Barrack's alleged crimes constituted a betrayal of Trump. [Extracted from the article]

Keywords: 144086Z; DBRG; ALLTOP; BUSINESS; COS; GEN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; MED; MIDEAST; NORTHAM; POL; TMT; TOP; WORLD; WWTOP; WWTOPAM; WWTOPEU EN 144086Z DBRG ALLTOP BUSINESS COS GEN GLOBALMACR GOV INDUSTRIES MARKETS MED MIDEAST NORTHAM POL TMT TOP WORLD WWTOP WWTOPAM WWTOPEU Tom Barrack Jr., the founder of Colony Capital Inc. and a former top fund-raiser for Donald Trump, was arrested on charges of illegally lobbying for the United Arab Emirates. QWK5C9DWLU6Z (Bloomberg) -- Tom Barrack Jr., the founder of Colony Capital Inc. and a former top fund-raiser for Donald Trump, was arrested on charges of illegally lobbying for the United Arab Emirates. [Extracted from the article]

The net-zero charge is being led by Sultan Ahmed Al Jaber,the UAE's special envoy for climate change and its ministerof industry and advanced technology. (Bloomberg) -- The United Arab Emirates could become thefirst nation among the Organization of the PetroleumExporting Countries to set a net-zero goal, a move thatwould please Western countries pushing for stronger climatecommitments but won't require it to sell less oil. [Extracted from the article]

A lender wholly owned by the federal government of the United Arab Emirates is planning to sell its second-ever international bonds as soon as this month, according to people with knowledge of the matter. Favorable financing conditions thanks to ultra-low borrowing costs are meanwhile prompting emerging-market sovereigns and state firms to address any funding needs for later this year. The UAE passed a law in October 2018 allowing the federal government to issue sovereign debt for the first time, enabling its seven emirates to benefit from a higher credit rating and lower borrowing costs. [Extracted from the article]

The author discusses the factors that may affect the success of the efforts by Gulf Cooperation Council countries, including Saudi Arabia and the United Arab Emirates, to develop a sovereign wealth equity fund. Topics mentioned include the continuous reduction in coal power generation and utilization, the outlook of future oil prices, and the low interest rate dormancy.

Washington-based EIG and Aramco, the world's largest oil company, announced the $12.4 billion deal late Friday. An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco's oil pipelines, in a deal set to be backed by a loan of around $10.5 billion. [Extracted from the article]

(Bloomberg) -- The United Arab Emirates can stand its ground against Saudi Arabia's effort to redraw the Gulf's corporate map by enticing multinationals to move their headquarters to Riyadh, according to Abu Dhabi's Investment Office. The government entity known as ADIO is responsible for attracting investment to the wealthiest of the seven sheikhdoms that comprise the UAE. [Extracted from the article]

The article examines the large investment organizations controlled by governments known as sovereign-wealth funds. The performance and activities of such funds based in developing nations like Abu Dhabi and China are discussed. It is noted that many of the organizations are underwritten by states that derive much of their wealth from oil and other natural resources and are thus dependent on the global prices of those commodities. INSET: Cities in the sand.

(Bloomberg) -- Aldar Properties PJSC is looking into buying assets that would boost its management units as the largest listed developer in the United Arab Emirates aims to take advantage of strains in the market. Aldar, which primarily operates in Abu Dhabi, has the benefit of a stronger market in the UAE capital compared with neighboring emirates. [Extracted from the article]

Breaking the news over the weekend, the United Arab Emirates' Mubadala was confirmed to be Jio's sixth investor on 5 June when it took a 1.85% equity stake for $1.2 billion. Sunday brought confirmation of a second deal from the UAE, this time with the Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds according to I Reuters i . [Extracted from the article]

(Bloomberg) -- Indonesia nominated Abu Dhabi Crown Prince Mohammed Bin Zayed Al Nahyan, to chair a panel to oversee the construction of a new capital to ease the burden on sinking and congested Jakarta. Indonesia is set to begin construction of the new capital on Borneo island later this year as President Joko Widodo seeks to decongest a fast sinking Jakarta. [Extracted from the article]

(Bloomberg) -- The United Arab Emirates will invest $22.8 billion in Indonesia through a sovereign wealth fund being set up by President Joko Widodo as the Southeast Asian nation seeks to finance billions of dollars of infrastructure and energy projects. The Arab economy joins SoftBank Group. and the U.S. International Development Finance Corp. as investors keen to participate in the sovereign fund that will fund toll roads, ports and petrochemical projects in Indonesia. Widodo, also known as Jokowi, who is into his second and final term, has pledged to double down on an ambitious infrastructure building program that will require more than $400 billion in the next five years to modernize the archipelago of more than 260 million people. [Extracted from the article]

The article describes Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates. Al Nahyan's control of the Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the world, is mentioned. The lack of public knowledge about the way the ADIA functions is mentioned, noting that the fund owns large portions of some U.S. firms and some individuals are concerned over the lack of transparency.

(Bloomberg) -- Egypt and the United Arab Emirates are setting up a $20 billion joint strategic platform to invest in a range of sectors and assets, the presidency said Thursday. Egypt is pushing ahead with a sweeping economic program that was kick-started in 2016 with the devaluation of the currency in order to secure a $12 billion International Monetary Fund loan and attract foreign investment. [Extracted from the article]