Hedge fund Ray Dalio to open branch of family office in Abu Dhabi
American billionaire investor and hedge fund manager Ray Dalio plans to set up a branch of his family office in Abu Dhabi as part of plans to push into the Middle East, Bloomberg reported on Wednesday. The new branch will build upon the Dalio Family Office’s existing hubs in the US and Singapore, the report […]
Mubadala-backed M42 acquires Bridgepoint’s dialysis firm Diaverum
Abu Dhabi’s M42, a newly created healthcare joint venture by state fund Mubadala Investment Company and artificial intelligence firm G42, has acquired Bridgepoint Group’s European dialysis clinic chain Diaverum. M42 will buy Sweden-based Diaverum, making it the largest healthcare company in the Middle East, it said in a statement. M42 did not disclose the value […]
Dubai Aerospace Enterprise hikes bond repurchase program by $300mln
The board of directors and shareholders of UAE-based airplane lessor Dubai Aerospace Enterprise (DAE) has authorised an additional $300 million for bond repurchases. The repurchase will be conducted through open market transactions, the company said in a statement on Wednesday. To date, DAE has repurchased approximately $1.13 billion of principal amount of its publicly traded […]
Dubai among the fastest-growing cities for the super-wealthy
Dubai is among the fastest-growing cities for the super-wealthy, according to Henley & Partners, which tracks private wealth and investment migration trends worldwide, and global wealth intelligence provider New World Wealth. Dubai’s safe-haven status and low tax rates make it a magnet for migrating millionaires from around the world, it said. Approximately, 3,500 high-net-worth individuals […]
Dubai Islamic Bank posts 12% rise in Q1 profit, beats estimate
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 12% jump year-on-year (YoY) in its Q1 2023 net profit to 1.5 billion dirhams ($408 million), driven by higher revenues and lower impairments. The earnings beat Refinitiv’s mean analysts’ estimate of AED 1.43 billion. Net financing and sukuk investments came in at AED 240 billion, […]