GCC capital markets show signs of recovery
DUBAI, January 27, 2021 Despite the headwinds brought on by the pandemic, GCC equity capital markets were able to sustain a reasonable level of activity with strong government support and significant stimulus measures globally. With the ‘new normal’, GCC IPOs have resumed albeit with limited activity. In contrast, the debt market has been highly active and we expect the debt market activity to continue in the near future, PwC said in a report. During 2020, initiatives were taken in the Kingdom of Saudi Arabia and UAE to facilitate equity capital market activities on their respective stock exchanges:
GCC Capital Markets on Right Track for Full Recovery Published January 27th, 2021 - 02:00 GMT
With the ‘new normal’, GCC IPOs have resumed albeit with limited activity. (Shutterstock)
Despite the headwinds brought on by the pandemic, GCC equity capital markets were able to sustain a reasonable level of activity with strong government support and significant stimulus measures globally.
With the ‘new normal’, GCC IPOs have resumed albeit with limited activity. In contrast, the debt market has been highly active and we expect the debt market activity to continue in the near future, PwC said in a report.
During 2020, initiatives were taken in the Kingdom of Saudi Arabia and UAE to facilitate equity capital market activities on their respective stock exchanges:
The Saudi Arabia Capital Market Authority (CMA) Grants A Financial Technology Experimental Permit (FinTech ExPermit) To Sarwa To Experiment Robo-Advisory Service Date
06/01/2021
Based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 2/6/1424H, and reference to the Financial Technology Experimental Permit Instructions issued by CMA in 10/01/2018, which aims to provide a regulatory framework that is conducive for the innovation of Financial Technology (FinTech) in the capital market within the Kingdom. In relation to this, the CMA Board of Commissioners issued its resolution to grant Sarwa a Financial Technology Experimental Permit (ExPermit) to experiment Robo-Advisory Service.
Based on this permit, the company will be able to experiment the Robo-Advisory Service which allows clients to get advice on securities or investment scheme through direct access to automated online platform (or application). Additionally, the company is able to offer automated onlin
KSA’s Alhokair eyes 57 new F&B outlets, 50 more retail stores
Group aiming to open around 57 food and beverage outlets in next 12 to 16 months, at least another 50 retail stores
Updated 25 March 2021
March 25, 2021 19:43
DUBAI: Saudi retail conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair) is moving forward with an ambitious expansion plan, aiming to open around 57 food and beverage outlets in the next 12 to 16 months, and at least another 50 retail stores in the fashion, cosmetics, beauty and sports sectors, the company’s CEO told Arab News.
“We are always exploring every interesting brand that has a future potential, ‘omni-chanellable,’ ‘Instagramable,’ and has a potential in the Saudi market,” Marwan Moukarzel, CEO of Alhokair, told Arab News, adding that he aims to add another two or three international brands in the coming weeks.