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PIF will act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC regionSaudi Arabia’s Public Investment Fund (PIF) and Goldman Sachs Asset Management recently announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region.An anchor investor is an institutional investor that enters the game right before an IPO and they are seen as a booster for companies looking for a successful listing.“PIF’s collaboration with Goldman…

Prime Minister Shehbaz Sharif on Tuesday formed a committee to ensure the early realisation of memorandums of understanding (MoUs) and agreements signed with Azerbaijan during his recent visit to the country. During PM Shehbaz’s visit to Azerbaijan last week, the two sides had finalised matters related to $2 billion investment by Baku in Pakistan, as well as agreed to expand bilateral trade volume and promote joint defence production. Deputy PM Ishaq Dar, who also serves as the foreign minister, will head the committee, the Associated Press of Pakistan reported, quoting a press release issued by the Prime Minister’s Office (PMO)…

Last month’s total of 16,099 transactions represented a 35.5 percent increase in volume, making it one of the best-ever months on recordDubai’s real estate market has continued its strong start to 2025, with property sales in February totaling AED51.1 billion ($13.91 billion), a 39.91 percent increase in value on the same month last year.The latest report from fäm Properties reveals that last month’s total of 16,099 transactions also represented a 35.5 percent increase in volume over February 2024, making it one of the best-ever months on record.“The data once again highlights the robust nature of Dubai’s real estate market and…

This emphasizes Dubai’s escalating reputation as a pivotal investment hub for international corporations Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has disclosed that 62.7 percent of the multinational companies (MNCs) it drew to Dubai in 2024 came from Asia. This statistic emphasizes Dubai’s escalating reputation as a pivotal investment hub for international corporations.Latin America and Europe each constituted 11.8 percent of the total multinational companies attracted in 2024. The Middle East and Eurasia made up 9.7 percent, while both the African continent and Australia contributed 2 percent of the total.Key sectors driving investmentFive primary sectors…

The euro fell in European trade on Tuesday against a basket of major rivals, following a surge against the dollar yesterday. The current decline comes amid mounting global trade tensions as Trump imposes tariffs on Canada and Mexico.   Trump’s tariff threats turned into reality, with now the EU being set as the next target, with likely new tariffs announced in April.   The Price   The EUR/USD pair fell 0.15% today to $1.0471, with a session-high at $1.0496.   The pair closed up 1.1% on Monday, the best profit since January 20, as EU leaders agreed to present an…

As Pakistan moves toward formalizing its stance on cryptocurrency, key stakeholders voiced their concern over adoption, regulation, and its impact on the country’s economy. Speaking to Business Recorder, Malik Muhammad Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), said he recommended the government ensure that Pakistan retains control over its crypto blockchain and platforms to prevent speculation and enhance security. “The central bank should develop a mechanism to monitor it,” he said. Bostan informed that the government is seeking guidelines from the US regarding cryptocurrency. He added that crypto adoption would help deter money laundering in Pakistan and…

Strategic shale oilfield development will create jobs and enhance regional economic growth significantly The eastern region of China announced two major shale oilfields discovered by Sinopec which hold 180 million tons of proven reserves. The Xinxing and Qintong oilfields gained confirmation from China’s Ministry of Natural Resources thus marking an important move to find shale oil reserves in the country’s continental rift basins.Shale oil primarily consists of liquid hydrocarbons trapped in shale rock formations, which can be extracted for refining. It is commonly found in organic-rich shale as well as in interlayers of carbonate rock, sandstone, and siltstone.This assessment marks…

European shares joined a global market selloff on Tuesday after US tariffs on Canada, Mexico and China took effect, raising concerns that similar levies could be imposed on Europe. The pan-European STOXX 600 index was down 1%, as of 0811 GMT, retreating from previous session’s record high. Last week, US President Donald Trump floated a 25% tariff on cars and other goods from the European Union. Shares of automakers, which are vulnerable to trade duties, declined on Tuesday, with Stellantis dropping 3.6%, BMW losing 3% and Porsche down 1.6%. Defence shares lift European stocks to near record highs The sub-index…

The southern Chinese megacity of Shenzhen has unleashed a barrage of policies aimed at propelling itself to the forefront of the global artificial intelligence and robotics industries, as the metropolis seeks to reaffirm its status as China’s leading technology hub.In a rare move, the city rolled out three major action plans in a single day on Monday, which outline measures to accelerate its adoption of AI, strengthen its smart computing capacity to support local AI businesses, and establish a global lead in robotics, respectively.The first policy focuses on rapidly growing Shenzhen’s AI terminal industry – a field that includes a…

Complications during the countdown, including a Super Heavy booster issue, led to cancel the launch SpaceX has postponed the eighth uncrewed test flight of its Starship rocket system. The launch was originally set to take place within a one-hour window starting at 5:30 PM CT from SpaceX’s facilities in South Texas. However, complications arose during the countdown, including an unspecified issue with the Super Heavy booster, leading to the cancellation of the launch. A new date for this attempt has not yet been announced.SpaceX founder Elon Musk expressed his concerns about the flight on the social media platform X. He…