Mark Sanderson

Spinneys, the operator of premium supermarkets in UAE and Oman, has announced plans to list its shares through an initial public offering (IPO) on the Dubai Financial Market. The IPO will consist of 25% of the company's issued share capital, which equates to 900 million shares. All shares being offered in the public float are held by Al Seer Group as the selling shareholder, with the right to amend the size of the offering. The IPO will be open for subscription for both institutional and retail investors. This move comes as regional bourses continue to record an IPO boom. #business https://lnkd.in/emY6cJek

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"The UAE's inclusion in BRICS in 2024 is set to significantly enhance trade and investment opportunities. This favorable economic landscape presents unique opportunities and challenges for mid-market businesses in the UAE. ” Kreston Menon is delighted to share that the Interpreneurial UAE Survey Report was published by OneArabia ME. You may check the full article in the following link 👉 https://lnkd.in/eEvpA6qS #KrestonGoingGlobal2024 #Interpreneur2024 #KrestonInterpreneur2024 #UAE #UAEInterpreneur #GlobalBusiness #SMEs #KrestonGlobal #BusinessExpansion #goingglobal #mappingsuccess #UAE #globalexpansion #midmarketbusiness #internationalmarkets #globalmarkets #KrestonMenon #Knowingyou

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CG Asset Management's Q3 Investor Presentation Webinar took place last week with Investor Meet Company featuring updates from Alastair Laing and Hassan Raza, CFA. The team discussed fund performance, asset allocation, key developments over the last quarter, and hosted an in-depth Q&A session.   Key highlights included: the potential narrowing of discounts in the investment trust space, macroeconomic red flags in the US, activism and governance, and a focus on liquidity and risk management.   Missed it? Watch the recorded webinar below.   Don't forget to join us for our Annual Investor Day on November 5th. Register below: https://lnkd.in/eswwXRAM   #InvestorWebinar #AssetManagement #QuarterlyUpdate #CGAssetManagement #CapitalGearingTrust #InvestorDay

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Growing demand for data-driven investment tools. The UAE has not only been an attractive country for foreign investment, but is also developing outward investment activity

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Read here what Stuart Ritchie APFS, Chartered FCSI, Managing Partner of GSB Wealth, had to say in FT Adviser about retirement planning for expats in the UAE. It covers pension issues, asset allocation, workplace schemes, and maximising UK pension contributions. 🔑 Key takeaways: - Seek advice before leaving the UK. - Long-term planning strategies in a low-tax environment. - Managing multiple pension pots. - Navigating the UAE's "Keeping up with the Joneses" culture. - Insights on #DEWS and tips for #UKexpats. 🔗 Link to the full article in the comments. #retirementplanning #expatsinuae #financialadvice #pensionplanning #expatlife #wealthmanagement #financialfreedom

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The UAE remains the world’s fifth-largest in terms of gold jewellery demand despite falling consumption level in the past 12 months as the yellow metal’s rise to all-time highs above $2,400 an ounce this year continues to captivate global markets. With an annual gold jewellery demand of nearly 40 tonnes, the UAE shares the rank with Russia, followed by Saudi Arabia in the 7th position, a research conducted by a team at The Gold Bullion Company reveals. In 2023, total consumption of gold in the UAE reached 39.7 tonnes, down from the 46.9 tonnes recorded in 2022, according to the World Gold Council. “The drop in the UAE was mainly due to the high base of 2022, which had been boosted by the post-Covid return of tourism,” WGC said. In the first quarter of 2024, the demand fell 10 per cent year-on-year to 10.8 tonnes, the lowest in the previous nine months #business #gold https://lnkd.in/dseJrh4R

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Last few weeks had been financial results reporting “fever” and #dividend payout period. Added to that, there had been many exciting announcements and new business developments from ADX listed companies.  To recap a few, on the top of my memory, were :- + Our national banks, ADIB - Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank and First Abu Dhabi Bank (FAB), announced solid 1Q financial results and robust YoY performance reinforcing their strategies and growth trajectory. + AD Ports Group partnered with ADNOC Distribution to sell lubricants globally.   + ADNOC Logistics and Services reported a 34% jump in revenue in 1Q and plans to expand its geographic reach, service offerings, and customer base globally. + ADNOC Distribution shared robust 1Q profit and plans to double #EV charging points this year. + ADNOC Gas delivered robust Q1 2024 results and even stronger 21% YoY increase in its adjusted net income.   + Borouge reported a 37% YoY increase in its 1Q net profit to $273 million and plans to expand into Kenya and South Korea. + Agthia Group PJSC Group saw a 22.6% net revenue growth, 32.0% group net profit growth in its 1st Q + Emirates Steel Arkan reports AED 2.14 billion revenue in Q1 and working with its Omani counterparts to explore a green metal project. + Presight bought a 51% stake in AIQ, and signed an MoU with Dell Technologies to accelerate digital transformation and innovation.  + The shares of Agility Global, a unit of regional logistics major Agility, nearly quadrupled in value after the company began trading on ADX. + ADNOC Drilling reports 26% rise in 1Q profit on offshore business strength. The news that stirred the capital market was the successful #Follow-On $935 million institutional placement of #ADNOCDrilling shares – the largest accelerated bookbuild of a publicly-listed company in the UAE. This development will increase #ADNOCDrilling’s free float, and potentially add value to the #liquidity of the market. A combination of these companies’ business developments and achievements is exciting for investors locally and globally. All of these activities, in their own ways, contribute towards the thriving and long-term growth of the Abu Dhabi and wider #UAE #economy. As a core member of the Abu Dhabi #financial sector and a capital market enabler,  #ADX will continue to actively support issuers in achieving their capital raising goals and for investors to fulfil their investment objectives. We are committed to advancing Abu Dhabi’s and the UAE’s role as a global economic and #investmenthub.

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GCC markets face a complex week ahead with heightened geopolitical risks and economic events impacting sentiment. Global equities, particularly in the US, have reached new record highs last week. The UAE Central Bank’s recent revision of GDP growth forecasts to 4% for 2024 and 6% for 2025 underscores the region’s positive economic outlook. Market participants will also be watching key global economic data releases and the upcoming OPEC+ meeting for further direction. #GCCMarkets #IRBrief #InvestorRelations #Markets #CEO #CFO #MEIRA

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Deconstructing the rise of BNPL in the region, senior partner at Global Ventures, Said Murad highlights that over 55% of the population is under 30, making these services particularly appealing to a tech-savvy, younger demographic. Murad emphasizes that #BNPL plays a crucial role in fostering financial inclusion by offering an interest-free payment solution that caters to individuals without access to traditional banking. According to Murad, BNPL serves as an accessible and affordable credit avenue, proving to be commercially competitive and consumer-friendly. Sandeep Ganediwalla, partner at Redseer, adds that BNPL not only provides convenience and transparency but also empowers consumers to better manage their expenses. #BNPL #Finance #FinancialInclusion #Tech #Payments #Credit #Transparency #Convenience #Saudi #UAE #Dubai #Riyadh #SaudiArabia #KSA

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We're pleased to announce that GCC markets saw a positive foreign investor inflow of $149 million in July 2024. The UAE led with $372 million, while Saudi Arabia faced an outflow of $310 million as anticipated. The MSCI GCC Index rose by +4.5%, with key increases in the UAE (+6.8%), Kuwait (+5.0%), Saudi Arabia (+3.9%), and Qatar (+2.4%) indices, while the MSCI EM Index declined by -0.14%. Strong corporate earnings and positive sentiment post-Aramco offering were likely drivers of these gains. The UAE's ability to attract significant foreign investments continues to reinforce its stability. Read the report to learn more. #investorrelations #GCC #Markets #ForeignInvestment #UAE #SaudiArabia #Kuwait #Qatar #Meira

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Ekaterina Chernova, co-founder of Octagon UAE, has published a thought-provoking comment article in Finance Middle East, shedding light on the dynamic shifts in global wealth and the rising prominence of the UAE as a top destination for high-net-worth individuals.   Ekaterina explores how, in a year with high-profile elections in France, the UK, and the upcoming US Presidential race, there is a growing focus on how tax hikes might lead to an exodus of millionaires seeking better environments.   She discusses new data highlighting the UAE as the premier destination for millionaires, especially in light of the anticipated exodus from the UK. The UAE’s favourable regulatory environment and well-developed Family Office sector make it very appealing to incoming capital.   The UAE's well-established Family Office structures are perfectly suited to support the influx of foreign capital, providing a conducive environment for wealth management and growth.   As the UAE continues to boom with an influx of foreign capital and the relocation of millionaires, Octagon's insights provide a valuable perspective on the evolving global economic landscape and the strategic advantages of the UAE.   Read the full article here: https://lnkd.in/dzKu4tUN    #GlobalWealth #UAE #FamilyOffice #HighNetWorth #TaxPolicy #WealthManagement #FOAS #Octagon #FinanceME

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Why the Middle East is seeing a boom in family offices: https://ow.ly/J50s50S1hnv #iqeq #oneiqeq #familyoffices #privatewealth #wealthmanagement

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🚀 MENA Startups Secure Record Investments! - Startups in the UAE and MENA region are attracting unprecedented capital. - Investors are prioritizing profitability over growth. - This shift is creating a robust and innovative ecosystem. #startups #uae #startup #AI #venturecapital #tech #innovation #BusinessGrowth #investment #mena

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In an interview with Economy Middle East, Damian Bunce, CEO of GTN Middle East, outlined the company’s 24-year journey. Operating exclusively on a B2B2C model within the trading and investing sectors, Bunce emphasized that GTN is a privately-owned firm with a global workforce of over 450 employees. The company is regulated in major financial hubs including Dubai, Singapore, the US, South Africa, and soon the UK. Bunce also highlighted GTN's significant partnership with Revolut, which resulted in a pioneering solution that, initially launched in Europe, offers nearly 30 million users the ability to invest in fractionalized bonds starting at just $100. This advancement enhances accessibility to bond investments. Reflecting on GTN’s recent entry into the US market as a FINRA-regulated broker-dealer, Bunce noted that this strategic development positions GTN to engage with large fintech firms and provide regulated services to international clients. Additionally, Bunce discussed the company's commitment to continuous product innovation, including the introduction of gold, silver, margin trading, CFDs, and Sharia-compliant products to address evolving market needs. For more insights, watch the full interview. 

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The Dubai Centre for Family Businesses – operating as part of Dubai Chambers – this week released a new toolkit highlighting the vital role of Family Offices in the UAE’s wealth management sector.   Among the toolkit’s many insights is a detailed overview of the UAE’s evolving Family Offices landscape which, at Octagon, we know inside-out.   The growing number of international Family Offices in Dubai is a result of the city’s enticing appeal to HNWIs – stoked by a flourishing financial ecosystem, diverse investment opportunities, advanced infrastructure, and strategic geographical location.   Dubai’s increasing international connectivity and global prominence fuels the virtuous cycle attracting high-net-worth families from all around the world. These families, in turn, seek holistic wealth management strategies – of which Family Offices are the ideal providers.   We look forward to collaborating with the Dubai Centre for Family Businesses and enhancing Dubai’s ecosystem.   Read more about the toolkit here: https://lnkd.in/dGGn_vqc   #Dubai #DubaiChambers #UAE #FamilyOffices #UHNWI #FOAS #Octagon

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GCC equity markets recorded net foreign inflows of $1.2 billion in October, down from the $2.6 billion recorded last month.   Key Insights for October 2024: - The UAE (+$1.8 billion) led regional inflows. Kuwait attracted an inflow of $17 million, while Saudi Arabia (-$277 million) and Qatar (-$216 million) experienced outflows. - Notably, the UAE has now overtaken Saudi Arabia in cumulative year-to-date net foreign inflows, reaching $5.7 billion compared to Saudi Arabia’s $4.1 billion. This shift is largely driven by Abu Dhabi’s strong inflows of $5.3 billion, with Dubai contributing $359 million. - The MSCI GCC Index dipped slightly by 1.5% to 705.74 in October, showing relative stability despite a broader 4.4% drop in the MSCI Emerging Markets Index. #investorrelations #CEO #CFO #GCC #markets #foreignflows #meira

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