Abu Dhabi Investment Authority mulls $400m investment in Indonesia’s GoTo

Abu Dhabi Investment Authority, ADIA, UAE’s biggest sovereign wealth fund, is set to invest $400 million into Indonesia’s tech company preparing its Initial Public Offering (IPO), Zawya reports, citing the fund. The future investment to take place before the IPO, Read more

Morocco’s economic growth to reach 5.7%, scoring best performance in MENA -IMF

The International Monetary Fund (IMF) on Tuesday announced new forecasts for Moroccan economy in 2021 that revised upward growth rate to 5.7% against the 4.5% revealed in April. This is one of the most robust growth rates in the Middle Read more

Bahrain-based Investcorp acquires properties across US for $380m

Investcorp, a Bahrain-based Middle East private equity firm, has acquired 89 industrial properties in the United States for $380 million, Zawya notes, citing the company. The new acquisitions are located in Los Angeles, California, Dallas, Texas, Phoenix, Arizona, Seattle and Read more

Kuwait’s IFA to acquire 10.5 per cent of Dubai’s Palm Jumeirah Yotel

Kuwait-based investor International Financial Advisors Holding (IFA) will invest AED 37.69 million ($10.26 million) in a branch of smart hotel brand Yotel in Dubai’s Palm Jumeirah, Zawya reports. The investment will provide IFA, 10.5 per cent of the hotel brand. Read more

Egypt to float shares of five state-run companies

Five Egyptian state-run companies will be listed during the fiscal year (FY) 2021/2022, on the country’s stock exchange, Egyptian Exchange (EGX). Finance Minister Mohamed Maait speaking to CNBC Arabia said the companies include e-Finance, Banque du Caire, and Ghazl El Read more

Saudi Mohammed Hassan Al Naqool Sons Co. to invest $4m in US-based Graphene Ventures

Saudi Arabia’s Mohammed Hassan Al Naqool Sons Co. has signed an agreement to invest $4 million (15 million Saudi riyals) in Silicon Valley venture capital firm, Graphene Ventures, Zawya reports. Graphene Ventures will use the investment to explore promising technical Read more