KSA acquires 15% stake in Heathrow Airport
Saudi Arabia’s Public Investment Fund (PIF) and French investment firm Ardian have completed the acquisition of a 37.6% stake in Heathrow Airport Holdings for $4.1bn.
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Entrepreneur
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UAE fintech secures $500m funding from Citigroup
Citigroup has provided a $500m financing facility to Abu Dhabi’s Astra Tech. The funding is in the form of asset-backed securitisation and will support Astra Tech’s subsidiary Quantix and its CashNow consumer lending platform.
Economy
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Bahrain roars into 2025 F1 season with double duties
Bahrain will once again host Formula 1 pre-season testing. This marks the fifth consecutive year the Kingdom has been selected for this event, further cementing its reputation as a premier motorsport destination in the Middle East.
Economy
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Trillion-dollar push for global mineral growth ahead of Riyadh conference
A new report titled Shaping the Future of Minerals estimates that $5.4tr in capital investment will be required to sustain and expand mining and processing facilities worldwide.
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Standard Chartered grows its UAE HQ
The British multinational bank Standard Chartered has announced plans to expand its private banking team in the UAE by 20%. This move is part of the bank’s broader effort to enhance its services for high-net-worth clients in the region.
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With its $500bn wealth fund, Qatar targets US, UK, Asia
The Qatar Investment Authority (QIA) has announced it will substantially increase its investment activities, focusing on high-return opportunities in sectors including technology, healthcare, real estate and infrastructure in the US, UK and Asia.
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World Economic Forum praises GCC governments’ focus on microfinance
The GCC region has made significant strides in microfinance as a way of offering individuals, entrepreneurs, and small businesses access to essential financial services.
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KSA to be confirmed as 2034 FIFA World Cup hosts
When FIFA makes the official announcement tomorrow, Saudi Arabia will win the hosting rights for the 2034 World Cup. FIFA made it clear last year that there were no competing bids, suggesting that the Kingdom was certain in the success of its proposal.