Search results

Former Kuwait Projects Company (Kipco) vice chairman Faisal Al-Ayar’s attempt to recover $840,000 from his son-in-law – who is in divorce proceedings with Al-Ayar’s daughter – has been dismissed by an Abu Dhabi court for lack of jurisdiction, mirroring a similar ruling in Dubai.

Sovereign wealth fund the Oman Investment Authority has launched a third fund in its portfolio. The OR2bn Future Fund Oman will sit alongside the National Development Fund and Future Generations Fund

Saudi Aramco said on 17 January it would increase the capital allotted to its global venture capital arm Aramco Ventures, from $3bn to $7bn over the next four years.

The QIA’s new $200m fund is designed to bring more foreign investment into Qatar, as the first step of a wider plan to partner with local and international asset management firms.

Bahrain’s Mumtalakat sovereign wealth fund has reportedly invested a further $38m into McLaren, just weeks after the luxury sportscar maker had said a full recapitalisation had been completed.

Abu Dhabi’s ADQ has joined with its exhibitions group subsidiary Adnec to buy a large minority stake in Egyptian hotel operator Icon. It comes as ADQ’s chief investment officer returns to the investment giant after a two-year sabbatical at defence conglomerate Edge Group.

In a rare inward investment into Yemen, Oman’s Salalah Mills is paying $6.5m for a 50% stake in a grain mills and silos business in Mukalla, Hadhramaut government, which it will run with an unnamed Yemeni partner.

Former finance minister Ali Sherif Al-Emadi has been fined almost $17bn and given a 20-year sentence by a Qatari court for money laundering and other charges. The court also sentenced Sheikh Nawaf Bin Jassim Bin Jabr Al-Thani to six years in prison and fined him $227m for misuse of public funds.

Sharjah is looking to upgrade its infrastructure and increase capacity at its airport with a record budget worth $11bn announced for 2024. The independently-minded emirate has stood out among its UAE peers in its attitude to the Israel-Palestine conflict and much else.

National Media Office chairman Sheikh Zayed Bin Hamdan Al-Nahyan was appointed to chair new holding company 2PointZero four days after it was set up. He will work alongside chief executive Mariam Bint Mohammed Almheiri, who also serves as the UAE’s climate change and environment minister.

Oman’s Crown Prince Theyazin Bin Haitham had words of praise for President Vladimir Putin and one of Russia’s most senior bankers, Andrei Kostin, while in Moscow to attend an investment forum in early December. The visit to Russia, followed by a trip to Abu Dhabi a few days later to meet UAE President Sheikh Mohammed Bin Zayed Al-Nahyan, suggests the Omani crown prince may be seeking to build up his international profile.

Sultan Haitham Bin Tariq Al-Said has returned from back-to-back state visits to Asian powerhouses Singapore and India, in which boosting business was very high on the agenda.

Dubai Ruler Sheikh Mohammed Bin Rashid Al-Maktoum has set up the Dubai Investment Fund, chaired by deputy ruler Sheikh Maktoum Bin Mohammed Al-Maktoum, to hold the emirate government’s stakes in operators including utility Dewa and road toll operator Salik. DIF will take its place alongside other Dubai Inc entities including Investment Corporation of Dubai, Dubai Holding and Dubai World.

By forcing a Saudi Aramco-backed venture capital fund to divest its stake in a Silicon Valley AI start-up the United States has signalled its increased scrutiny of Gulf investment in sensitive technologies.

A joint venture between United States-based investment firm RedBird Capital and Abu Dhabi’s International Media Investments (IMI) has launched a bid to acquire a pillar of the United Kingdom’s Conservative establishment, the Telegraph Media Group (TMG), which includes The Daily Telegraph and Sunday Telegraph newspapers, and weekly political magazine the Spectator, in a debt-for-equity deal.