Marcel Kasumovich

Qatar's sovereign wealth fund has agreed to buy a 10% stake in China's second-largest mutual fund company, two sources said, underscoring Beijing's increasing ties with the Middle East amid rising tensions with the West. The Qatar Investment Authority (QIA) has agreed to buy the stake in China Asset Management Co., Ltd. (ChinaAMC) from investment firm Primavera Capital Group, said the sources who have knowledge of the situation. Qatar's proposed investment in ChinaAMC comes amid a flurry of activities between China and Gulf countries to deepen political, economic and financial ties. China has become one of the major importers of liquefied natural gas (LNG) from the Middle East, firming up ties with Doha as the nation pushes for a massive production expansion project. Middle East sovereign wealth funds have invested $7 billion in China since June last year, five times the amount seen during the previous 12 months, according to industry data provider Global SWF. The surge in investments by funds in Gulf states comes against the backdrop of some Western financial firms reining in their investments and ambitions for China amid concerns about its economic recovery and geopolitical risks. Norway's $1.4 trillion sovereign wealth fund (Norges Bank Investment Management), for example, closed its only office in China last year. Financial firms including Fidelity International Ltd and Morgan Stanley, are also cutting China-focused jobs or shelving expansion plans. Source: Reuters News Agency #china #beijing #chineseeconomy #globalfinance #banking #crossborder #investments #qatar #middleeast

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🔝 Promising Asset Tokenization Opportunities Nowadays 1. 📑 Stock Market 2. 🔑Real Estate: Tokenizing Airbnb apartments holds immense potential, particularly in regions like the UAE, where many aspire to own property in Dubai. This approach enables broader ownership through tokenization, supported by a robust KYC process integrated from the startup’s inception. #realestate #tokenization #Dubai #UAE #stocks #Airbnb #KYS #startup #podcast

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Gold is still the new gold; crypto is still a yo-yo. The Financial Times reports: "Gold surged to an all-time high on Monday, fuelled by geopolitical tensions and central bank interest rate cuts. Bullion’s price climbed to $2,740.37 a troy ounce on Monday, representing a 40 per cent gain in the past year. The war in the Middle East, coupled with uncertainty over the outcome of next month’s US presidential election, have supercharged gold’s allure as a haven asset. “The outlook for gold is quite bullish,” said Joni Teves, UBS precious metals strategist, who has a $3,000-a-troy-ounce price target next year. “We think that investor holdings of gold have a lot of room to grow over the next year or so, and that should drive prices higher.”" Meanwhile, according to CoinDesk (https://lnkd.in/gsZkCFtP): "Bitcoin’s (BTC) weekend push to nearly $70,000 failed to hold as the asset dipped 2.2% to just over $67,000 early Tuesday, with a drop across all major tokens." So less Uptober and more Upandowntober. 🤷🏻 The reason? "Over $165 million in longs -- or bets on higher prices -- were liquidated across crypto futures tracking major tokens in a sign of a leverage flush. As CoinDesk reported Monday, the use of leverage spiked over the weekend in a move that historically precedes market volatility." Because leverage to boost prices worked so well the last time. 🤦🏻 Meanwhile, the FT explains that: "Although physical gold demand has been dented by high prices in the top market China, buying from central banks has been very strong as they diversify their reserves away from the dollar. During the first half of this year, central bank buying hit a record high of 483 tonnes, according to the World Gold Council, the industry body. Western investors have also poured into gold since the summer, with five consecutive months of global inflows into gold-backed exchange traded funds during May to September." Which has led Mohamed El-Erian to warn (https://on.ft.com/40eMnCO): "What is at stake here is not just the erosion of the dollar’s dominant role but also a gradual change in the operation of the global system. No other currency or payment system is able and willing to displace the dollar at the core of the system and there is a practical limit to reserve diversification... What has been happening to the gold price is not just unusual in terms of traditional economic and financial influences. It also goes beyond strict geopolitical influences to capture a broader phenomenon which is building secular momentum. As it develops deeper roots, this risks materially fragmenting the global system and eroding the international influence of the dollar and the US financial system." And yet both US presidential candidates will step on the deficit pedal. 🤷🏻 Are we going to see another world leader challenge a head of lettuce? https://on.ft.com/3NvVHuD

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Hedgeweek report that Abu Dhabi is facing office shortages amid surging Hedge Fund popularity. I thought this was interesting on several counts: 1. Rapid Growth of Abu Dhabi's Financial Sector:  ADGM's office sector is now running at a 95% utilisation - indicative of very strong demand, particularly from hedge funds. 2. Strategic Expansion: planned expansion to Al Reem Island — 14.4m square meters (3,558 acres) — demonstrates Abu Dhabi's commitment to becoming a major global financial hub. This tenfold increase in office space could significantly boost the emirate's capacity to attract international firms. 3. Competitive Advantages:  success in attracting hedge funds is partly attributed to its tax-free regime, but I feel also due to its strategic time zone 4. Potential for Market Disruption:: existing Al Reem Island tenants will be required to obtain ADGM licenses or relocate. Let's see how that shapes up. 5. Global Financial Center Ambitions: London, and to some extent NY and Singapore should see stiff competition in the years ahead. 6. Adaptive Governance: government's intent is visible in their quick response to space shortages by expanding the free zone. 7. Potential Economic Ripple Effects: As we saw in Singapore, Switzerland, London - the influx of hedge funds and expansion of the financial district has a clear multiplier effect - real estate, hospitality, and professional services especially. https://lnkd.in/gpbuBNZc

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🌍 While Political Uncertainty Grows in the West, the UAE Emerges as a Stable Haven for UHNW Investors As the US election heats up, with Trump and Harris facing off at the polls, it’s a reminder of the complex and often unpredictable political landscape in the West. Meanwhile, the UAE stands out as a beacon of stability and growth - drawing the attention of UHNW investors looking for a steady base amid the noise. Here’s why the UAE is increasingly on the radar for investors seeking both financial growth and lifestyle appeal: 1️⃣ A Stable, Investor-Friendly Environment The UAE offers a pro-investment government and well-defined regulatory frameworks that support wealth preservation and growth, even during global uncertainties. 2️⃣ Strategic Global Location Situated between Europe, Asia, and Africa, the UAE provides direct access to high-growth markets, positioning investors to diversify their portfolios from a secure, well-regulated hub. 3️⃣ Expanding Alternative Investment Opportunities With a focus on private equity, venture capital, and high-growth assets, the UAE enables UHNW investors to tap into alternative assets in one of the world’s most dynamic markets. 4️⃣ Premier Lifestyle with No Tax Beyond financial incentives, the UAE’s tax-free environment, world-class amenities, security and healthcare make it a prime choice for those seeking quality of life and financial optimisation. In a world where political complexity often disrupts investments, the UAE offers a clear path to growth and stability. Is it on your radar?

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The UAE and, more recently, Saudi Arabia are implementing sweeping reform agendas with an overarching goal to modernize their societies and integrate their economies with the rest of the world. As a result, the markets in these countries should become much less cyclical and more structural. Most Emerging Markets funds are underweight – and quite a few have zero exposure - to this region which has a 7.5% (and growing) allocation in the MSCI EM Index.

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𝐃𝐮𝐛𝐚𝐢'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐇𝐞𝐝𝐠𝐞 𝐅𝐮𝐧𝐝 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: 𝐖𝐡𝐨'𝐬 𝐌𝐨𝐯𝐢𝐧𝐠 𝐈𝐧? 𝑩𝒓𝒆𝒗𝒂𝒏 𝑯𝒐𝒘𝒂𝒓𝒅: Brevan Howard has significantly increased its presence in the UAE by doubling its workforce in the Abu Dhabi Global Market (ADGM) and relocating a trading desk to the region. 𝑴𝒊𝒍𝒍𝒆𝒏𝒏𝒊𝒖𝒎 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕: Millennium Management is one of the major hedge funds that have set up operations in the Dubai International Financial Centre (DIFC), benefiting from the region's growing financial infrastructure and capital availability. 𝑯𝒖𝒅𝒔𝒐𝒏 𝑩𝒂𝒚 𝑪𝒂𝒑𝒊𝒕𝒂𝒍: The firm has recently established an office in DIFC, reflecting its strategy to tap into the Middle Eastern market and manage regional investments. 𝑲𝒊𝒏𝒈 𝑺𝒕𝒓𝒆𝒆𝒕 𝑪𝒂𝒑𝒊𝒕𝒂𝒍: King Street Capital has expanded its operations to DIFC, leveraging the region's growing financial market and wealth management opportunities. 𝑩𝒂𝒍𝒚𝒂𝒔𝒏𝒚 𝑨𝒔𝒔𝒆𝒕 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕: Balyasny Asset Management has set up an office in DIFC as part of its global expansion strategy, aiming to tap into the increasing investment flows within the Middle East. 𝑽𝒆𝒓𝒊𝒕𝒊𝒐𝒏 𝑭𝒖𝒏𝒅 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕 𝑳𝑳𝑪: The firm has established a presence in DIFC, drawn by the region's favorable business environment and access to high-net-worth individuals. 𝑩𝒍𝒖𝒆 𝑶𝒘𝒍 𝑪𝒂𝒑𝒊𝒕𝒂𝒍: Blue Owl Capital is among the hedge funds that have recently completed registration in DIFC, expanding its global footprint into the Middle Eastern market. 𝑾𝒂𝒍𝒍𝒆𝒚𝒆 𝑪𝒂𝒑𝒊𝒕𝒂𝒍: The firm has set up operations in DIFC, capitalizing on the region's strategic location and growing financial market. #HedgeFunds #DubaiFinance #GlobalMarkets #DIFC #InvestmentOpportunities #FinancialHub #MiddleEastFinance #WealthManagement #AlternativeInvestments #hedgefundnews

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The weekend Crony Club dinners in the finest watering holes/pizzerias of Dubai are as long as they are liquid and our sole focus is to exchange money making investment ideas and wildest new jokes. So I found out that my buddies were more interested in my calls on the Mag-7 than in my philosophical reveries on MAGA. So paisanos, viola! I had outlined my Tesla (TSLA) strategy in my pre-whisper number Lady Gaga skit. TSLA is truly caught in a bad romance as Elon's $45 million gift to the Trump campaign is as old, tired and unhinged as the Orange Man himself. Kamala has replaced him as the rock star in Election 2024. TSLA lost a ghastly $35 a share after it disappointed the whisper number, a scenario I nailed in my Monday post and which can only be understood if you watch Lady Gaga's Bad Romance (https://lnkd.in/dM_A94YJ). I want to make $150 a share in the next year swing trading this deranged Bronco on the short side. Why? Robo taxis are a $300 billion bubble that will pop with a vengeance. The US and Chinese economies will force brutal price cuts as the EV gladiators use their bloodied axes to murder each other as the tariff wars loom. EV sales worldwide will tank as the global recession/credit crunch accelerates. Even Tesla's prize Model Y sales have slumped 2% since 2H 2023 and you ain't seen nothin yet goomba! The lithium-ion battery fire is a bad omen, as is the doomed bromance with Trump. A 70X val, falling margins and China risk is a lethal mix. So I ride this Wild Wadi roller coaster short to Xanadu as fair value is $80 to $100 a share tops. I went Lord Gaga on Alphabet (GOOGL) when its AI launch in Paris flopped in early 2023 and the shares dropped $90, where GOOGL was a no brainer. Mr. Market is a schizo and occasionally pitches me the baseball equivalent of a sixer on a curve ball (I remain a cricket colonial since the New York Mets always broke my heart when I lived in the East Village), this was one since GOOGL went on to soar to 190. Good things happen when you bottom fish, though not bottom pinch, mega caps at the right val, which was 16X in early 2023. The shares were slammed again last week from 190 to 167 but it is premature to buy the dip. I will only play GOOGL on the long side. Why? Alphabet beat its whisper number on both EPS and rev. The OpenAI prototype launch made the House of Sundar even less pretty. Capex rose 91% and the Street now mistrusts the AI bubble. Spike Lee warned me all those years ago in New York, don't believe the hype, she's gotta have it and jungle fever. Sound advice for big game lonely heart hunting in West Village clubs. The good news is 1.5 million developers are using Gemini and AI search is the hottest new media enchilada. Operating margins have risen to a yummy 29%. Google Cloud, YouTube and the Search monopoly are all on a roll. Time to design option strategies in CBOE to ensure I get delivered GOOGL at $140 or 19X, where I win and Mr. Market loses. Vediamo!

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"High Commodity Costs Hurt Rate Cut Prospects", World Bank Says ===============================================          WHERE TO FROM HERE ? =============================================== "Knowledge is the only Treasure that increases by sharing"... ..that is why I share Charts & Stats about: 💻 Trading / 📈 Technical Analysis / 🌍 Macros If you are interested in these topics, you can receive: 1. NEWSLETTER 📰 Join 1,800 others for my FREE "S.M.A.R.T. Trader Systems" Newsletter https://lnkd.in/eHcz-4Cd 2. NOTIFICATIONS 🔔 Join 8,000 others and click on Alex Spiroglou 🌍 + follow + 🔔 https://lnkd.in/efwd22Cz 3. EMAIL LIST 📩 Join 6,000 others in our email list https://lnkd.in/e2EK2r8S ===============================================

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On Bloomberg this morning with the lovely Lizzy Burden talking about the Fed finally acknowledging inflation picking up again. We talked about: - A possible Fed policy mistake - The market and US earnings - Middle East tensions and oil prices The biggest concern right now is a stronger dollar weighing on EM currencies bringing back inflation and pausing the easing cycle. Tariq: Fed May Still Move With Three Cuts https://lnkd.in/e6uTZPPN

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United Arab Emirates sovereign wealth fund Abu Dhabi ADQ with $196 billion AUM has listed 2 tranches totalling $2.5 billion of bondson London Stock Exchange, with a $1.25 billion 5-year 5.498% bond at +80 bps US Treasury and a $1.25 billion 10-year 5.5565% bond at +90 bps US Treasury.   The order book at is at $11 billion which is 4.4 times oversubscribed. Read - https://lnkd.in/gNdW_BGG follow Caproasia | Driving the future of Asia United Arab Emirates (UAE) sovereign wealth fund Abu Dhabi ADQ with $196 billion AUM (Assets under Management) has listed 2 tranches totalling $2.5 billion of bondson London Stock Exchange, with a 1) $1.25 billion 5-year 5.498% bond at +80 bps US Treasury and a 2) $1.25 billion 10-year 5.5565% bond at +90 bps US Treasury.   The order book at is at $11 billion which is 4.4 times oversubscribed. His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ: “The significant market response to our inaugural bond issuance validates the strength of ADQ’s credit profile, which benefits from the stability and resilience of the wider Abu Dhabi economy. Furthermore, it is reflective of investor confidence in Abu Dhabi’s capital markets and in ADQ’s compelling growth prospects, which are anchored in the execution of our transformative mandate in sectors providing essential services and products to people in the Emirate and beyond.” Marcos de Quadros, Chief Financial Officer at ADQ: “The success of the issuance under our newly established Global Medium Term Note Programme highlights strong investor appetite, underpinned by robust market fundamentals. Achieving an oversubscription of more than 4.4 times, the issuance demonstrates the commercial attractiveness of our business, which effectively balances non-financial impact with robust financial returns. Going forward, the Programme will enable us to utilize debt capital markets as an effective option to fund our long-term investments and continue to support Abu Dhabi’s sustainable economic development.” ADQ Marcos de Quadros

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Purplle.com raises $178.5 Million in Series F Funding, led by Abu Dhabi Investment Authority. Purplle.com has successfully closed its Series F funding round at a valuation of $1.5 billion, raising a total of $178.5 million. The investment round was led by the Abu Dhabi Investment Authority (ADIA) and supported by Premji Invest, Blume Ventures , and Sharrp Ventures | Harsh Mariwala Investment Office. Purplle.com reduced its net loss to INR 124 Cr in FY23, down 46% from INR 230 Cr the previous year. Despite this, the startup's revenue approached INR 700 Cr, with an operating revenue of INR 679.6 Cr in FY24, a 43% increase from INR 475 Cr last year. This funding comes as investors are increasingly interested in the growing Indian beauty and personal care market, projected to reach $30 Billion by 2027. Purplle.com aims to democratize beauty, appealing to both consumers and investors. By leveraging technology and data, it created a platform for diverse beauty needs. The funds will support its growth, expansion online, strengthening offline operations, and enhancing product offerings. Purplle.com is set to go public by 2025 or 2026, aiming to leverage technology and data insights to expand into underserved markets. Here are key takeaways that a founder can take from Purplle.com: ● Focus on Tier II and Tier III audiences, both online and offline, to improve profitability. ● Provide omnichannel experience by leveraging technology and data ● Strong collaborations to expand product offerings. As the company continues to innovate and deliver exceptional customer experiences, we're excited to see what the future holds for Purplle.com. Follow Maharshi Ganatra for Business, Investment and Finance. #purplle #business #financialtips

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Saudi Arabia's pharaonic investment plans, as described in this detailed FT article., will transform the economy. Once cash rich and a major enabler of US deficits, it now needs every penny of oil revenues to fund infrastructure.#emergingmarkets https://lnkd.in/gYX3dwW6

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SL has an untapped export potential of $10 billion annually - World Bank Tapping this potential could create over 142,000 additional jobs The export performance in the post-conflict decade (2010–2019) was below potential WB estimates that SL’s ‘missing’ merchandise exports stand at $10 billion, with potential exports estimated at around $20.1 billion The largest portion of untapped export potential is in Asia In 2020, 70% of the missing exports were attributed to 05 countries:  - China: $3.5 billion  - India: $1.5 billion  - Japan: $1 billion  - Indonesia: $0.7 billion  - South Korea: $0.5 billion The lack of active trade diplomacy in the region has contributed to this untapped potential The missing exports are primarily in manufacturing, particularly in machinery and equipment, minerals, metals, and chemicals Clothing exports were found to be above potential, reflecting the historic specialization of SL’s economy. If the export potential is fully utilized, it could create 142,500 additional jobs  - 19,000 in agriculture exports  - 123,500 in manufacturing exports These jobs could either be newly created or involve reallocating labour from lower-productivity, domestic firms to higher-productivity, export-oriented firms

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Dubai Now Hosts Four Dozen $1-Billion-Plus Hedge Funds Dubai has emerged as a hub for the world’s wealthiest people and some of the largest firms. For one data point on the boom, look to hedge funds — the city now hosts local offices of close to four dozen firms with assets exceeding $1 billion each — and the industry employs more than 1,000 people. Dubai has long been the Middle East’s business and finance hub, with firms around the world using the city as a base to tap into large pools of wealth regionally and lucrative markets elsewhere — the DIFC is now back into a ranking of the top 20 global hubs after dropping out last year. For fundraising DM: Fundraising For company formation DM: Formation #venturecapital #fundraising #investing Supercap Group DIFC

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Interview on Asharq Business اقتصاد الشرق with Cyba Audi صبا عودة yesterday: - There is a huge focus on the Fed, every tone, every gesture that Chair Powell or any member of the Fed board. The stock markets are ticking up or down to every blink the Fed and its board makes. This is not healthy, and this makes it a traders markets rather than an investors market - Most of the mutual funds specialized in US equities have underperformed the S&P500, and one of the reasons is diversification. The S&P500 is not a diversified index reflecting the US stock market anymore, but a reflection of a handful of stocks. This is a very good thing for traders, but a bad thing for investors who have processes and diversification rules - Jobs last week were a good headline, and the Fed looks at headline. Also, wages have gone up, which is inflationary. Hence, we do not expect any cuts this year, all things being equal. There is a massive loss of full-time jobs and a massive gain in part-time jobs Thank you Tabarek Jouini for having me again, always a pleasure.

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FII vs. DII: Decoding Market Movers 📊 | Ever wondered who drives the stock market trends? Understand the roles of Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) and their impact on Indian markets. Don’t miss this essential guide to smart investing! 💡” Video Brief: This video explains the key differences between Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) and how they influence the stock market. Perfect for beginners wanting to navigate market trends and take control of their financial journey! https://lnkd.in/gqp6f6RR

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Wealth and asset managers that picked Dubai for expansion. The recent wave of global wealth and asset management firms establishing a presence in Dubai includes some top names from the US, the UK, and Asia. Here are some names that have strengthened their position in Dubai International Financial Centre so far in 2024. 🏢 Wellington Management 🏢 State Street 🏢 Barings 🏢 Blue Owl Capital 🏢 Point72 🏢 Taula Capital Management 🏢 GID Investment Advisors 🏢 Capital Asset Management 🏢 Hayfin Capital Management 🏢 El Dorado Capital Some of the other names include Audere Capital, Banca Del Sempione, Novia Global Limited, Ominvest Capital, Patient Square Capital, 24 Capital Management, and Theia Investments Limited. #hedgefunds #assetmanagers #dubai

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