HBG Holdings RoundTablehttp://www.hbgholdings.com/roundtable.phpFinancial Equity FeedRasmala Head of Asset Management in MENA Power 50http://www.hbgholdings.com/rssfeed/230.htmlApril 07th, 2012MENA Fund Manager has released this year’s Power 50 – its list of the 50 most influential people in MENA’s asset management industry. Eric Swats, Head of Asset Management at Rasmala Investment Bank has been a consistent part of this list. This year as well MENAFM has included him within the list, attributing his inclusion to the fund’s continued stability as well as the success of Rasmala Palestine Fund launched last year.

]]> Why is HSBC selling out of private equity in the Middle Easthttp://www.hbgholdings.com/rssfeed/221.htmlMarch 27th, 2012Interesting article arguing that PE model is inherently at odds with bank’s culture of maintaining liquidity. HSBC’s sale of its PE arm to company management (10 years after they sold it to HSBC) is further evidence of the claim that banks are notorious for disposing assets too cheaply in periods of crisis, which is diametrically opposed from the long-term ‘J Curve’ worldview of PE.

]]> Oil loses out to Plastics as Middle East diversifies its economyhttp://www.hbgholdings.com/rssfeed/225.htmlMarch 21st, 2012The Middle East is seeking a gradual movement away from its dependency on oil and gas production to diversify its economy and create a positive environment for the development of its plastics industry, according to a new report by industry intelligence company GlobalData.

]]> Survey Middle East set for surge in M A activity http://www.hbgholdings.com/rssfeed/222.htmlMarch 17th, 2012The Middle East is set for a revival in mergers and acquisitions (M&As) this year following a long lull, according to a recent survey of business leaders by DLA Piper, a global law firm.

]]> GCC plastics production to rise 73 by 2015http://www.hbgholdings.com/rssfeed/226.htmlMarch 13th, 2012The Gulf Petrochemicals and Chemicals Association (GPCA) has said the volume of annual production of plastic industries in the GCC countries is set to grow by 73% in 2015 from the current levels of 13.6 million tonnes to 23.6 million tonnes, Arab News has reported.

]]> Sukuk issuance forecast to surgehttp://www.hbgholdings.com/rssfeed/229.htmlMarch 09th, 2012Global sukuk issuance is expected to rise 50 per cent this year, with companies turning to capital markets as banks reach lending limits, says HSBC.

]]> Global Crisis has boosted growth in the Sukuk market Standard Poor shttp://www.hbgholdings.com/rssfeed/228.htmlFebruary 17th, 2012Standard & Poor's Ratings Services has published a report examining why sukuk issuance is gaining acceptance in markets beyond its established strongholds in Malaysia, Indonesia and GCC.

]]> Private Equity may defy Middle East M A gloom http://www.hbgholdings.com/rssfeed/223.htmlFebruary 10th, 2012Interesting article arguing that PE activity is picking up because (a) valuation expectations of buyers and sellers are converging and (b) PE houses are under increasing pressure to deploy cash. I would have to disagree. The reason more deals are closing is that there are better deals out there.

]]> Head of Aim seeks Brussels boost for SMEshttp://www.hbgholdings.com/rssfeed/212.htmlJanuary 28th, 2012The head of London’s Alternative Investment Market Marcus Stuttard has called on the European Commission to use regulation to make it easier for small European businesses to raise money in London.

]]> Middle East equity issues attract 10 1 bn in 2011http://www.hbgholdings.com/rssfeed/227.htmlJanuary 20th, 2012The Middle East equity capital market (ECM) issuances recorded a 47% increase in 2011 over 2010 but investment banking fees suffered a 40% decline last year over previous year totaling $221.2 million, according to Thomson Reuters’ analysis.

]]> Qannas to raise 50m in AIM listinghttp://www.hbgholdings.com/rssfeed/211.htmlJanuary 20th, 2012Qannas Investments, a company managed by Abu Dhabi Capital Management (ADCM) aims to raise up to $50 million through an initial offering on AIM.

]]> Benchmark a major step for Islamic financehttp://www.hbgholdings.com/rssfeed/219.htmlDecember 24th, 2011Last month, the world's first Islamic Interbank Benchmark Rate (IIBR) was launched. It was the result of a collaborative approach taken by many Islamic financial institutions, industry associations and Sharia scholars to decouple Islamic finance from a conventional western pricing benchmark (Libor). The IIBR is an interbank benchmark that offers a reliable and realistic standard to better measure the cost of funding for Islamic financial institutions.

]]> Petrol to plastics Bagging the futurehttp://www.hbgholdings.com/rssfeed/224.htmlDecember 20th, 2011GCC is the fastest growing region for downstream petrochemical industry in the world. In a new study conducted by UK-based Ispy Publishing (and summarized by gulfnews in the link below), the plastic industry is projected to grow 30% annually over the next 5 years, spurred by factors including lower feedstock, rising consumer spending and high level of government incentivization.

]]> Fitch launches new Islamic Servicehttp://www.hbgholdings.com/rssfeed/218.htmlNovember 24th, 2011Fitch Ratings launched its new Islamic portal service yesterday. The ratings agency said it had developed the new service created to showcase Fitch's Islamic rating coverage and research content on a dedicated section of the global website.

]]> Islamic Finance to converge or not to convergehttp://www.hbgholdings.com/rssfeed/217.htmlOctober 06th, 2011At the currently ongoing MENA Investment Management Forum undergoing in Doha, Islamic fund managers are debating whether or not convergence with conventional finance is necessarily desirable.

]]> Aim shows signs of trend reversalhttp://www.hbgholdings.com/rssfeed/209.htmlOctober 03rd, 2011The number of companies arriving on the Alternative Investment Market is starting to outpace departures for the first time since 2007. The accountancy firmUHY Hacker Young has calculated that 24 new companies joined in the third quarter, while only 21 left.

]]> Indian SMEs eye listing on AIMhttp://www.hbgholdings.com/rssfeed/208.htmlSeptember 14th, 2011Several Indian small and medium enterprises from the power, natural resources and oil & gas sectors are lining up to tap London’s Alternative Investment Market (AIM) to raise funds.

]]> Islamic banks to open in Oman in 2012http://www.hbgholdings.com/rssfeed/216.htmlSeptember 06th, 2011There is much excitement in the world of Islamic Finance as Central Bank of Oman has announced plans in May to allow Islamic banks to operate from Oman. Oman has been amongst the few countries in the Muslim world with a non-existent Islamic finance sector, as regulations have been slow to come by.

]]> Blind Pools vs Co-investments Finding the Right Model for MENA Private Equityhttp://www.hbgholdings.com/rssfeed/220.htmlAugust 24th, 2011A very engaging discussion on the relative merits of Blind Pools versus Co-Investment model for private equity. Author argues that while blind pool investing should be preferred not just by PE managers (which is obvious) but also by LPs, as it allows managers to take a more long-term view.

]]> Islamic Banking goes Westhttp://www.hbgholdings.com/rssfeed/214.htmlJune 29th, 2011A few excerpts from the coverage of the 8th summit of Islamic Finance Services Board (IFSB) in gulfnews today:

Islamic banking and finance is becoming increasingly popular in the West since financial institutions in non-Islamic regions took a closer look at the sector after the global economic crisis. Instruments based on Islamic values seemed more stable and sustainable during the crisis than most vehicles used by the Western financial model.

]]> Oman to add US 6 billion in Islamic assets Ernst Younghttp://www.hbgholdings.com/rssfeed/215.htmlJune 10th, 2011The newly received permission from Central Bank of Oman to allow Islamic banking in the country is expected to provide a major boost to what is already one of the fastest growing subsectors in banking globally. Global Shari’a-compliant assets are estimated to have crossed $1 trillion in 2010, growing at a sustainable 15-30 per cent per annum.

]]> London and Luxembourg battle over Sukuk listing domicilehttp://www.hbgholdings.com/rssfeed/213.htmlJune 08th, 2011Very well-research article on how London and Luxembourg Stock Exchanges are vying for a piece of the sukuk listing pie, with London currently having the ‘upper hand’ as the more entrenched player.

]]> Investors and Companies both optimistic for AIM in 2011http://www.hbgholdings.com/rssfeed/206.htmlMay 14th, 2011

A majority of institutional investors (60%) and AIM-listed companies (63%) are optimistic regarding further improvement in AIM performance over the next 12 months. Baker Tilly has released its annual survey of investors and companies on AIM. According to it, 80% of investors say their overall portfolio has benefited in 2010 from investing in AIM.  Access to funds remains the major concern for companies on AIM, but this was mentioned less frequently by those in the survey (28% versus 45% a year ago). 

 

]]> Gulf Firms eye London over local market for listingshttp://www.hbgholdings.com/rssfeed/207.htmlMay 12th, 2011 

Very interesting article on how GCC firms are increasingly listing in UK to access international capital and a higher profile. 

 

]]> First Pakistan-focused company joins AIMhttp://www.hbgholdings.com/rssfeed/205.htmlApril 10th, 2011

Oracle Coalfields has become the first company from Pakistan to join AIM, a press release from London Stock Exchange says. The company is an independent coal developer of an estimated 1.4 bn ton coal resource in the south-eastern desert of Pakistan’s Sindh province. The company was previously listed on PLUS and has transferred the listing, raising an additional £3 million. 

 

]]> PE undeterred by unrest in the Middle East http://www.hbgholdings.com/rssfeed/204.htmlMarch 25th, 2011

Global PE firms are still seeking deals in MENA despite the ongoing turmoil. In the annual SuperReturn conference in Berlin, the PE community is discussing their thoughts on the current turmoil. Although most players see a short-term impact, there is a realization that it bodes well for the long-term economic prospects of the region. Nevertheless, most PE firms will prefer to wait on the sidelines to see how things shape up in Egypt, Tunisia, Libya and other affected countries before making any further investments. 

 

]]> OPIC to provide up to 2bn for investment in MENAhttp://www.hbgholdings.com/rssfeed/203.htmlMarch 15th, 2011US Secretary of State Hillary Clinton has announced that the Overseas Private Investment Corporation (OPIC) will provide up to US$2 billion to catalyze private sector investment in the MENA region. OPIC is the US Government’s development finance institution. With an emphasis on SMEs, the financing is available for projects in Egypt, Tunisia, Morocco, Iraq, Jordan, Lebanon, the Palestinian Territories and potentially Algeria, Oman and Yemen.

 

]]> GCC M A volumes expected to grow 20 in 2011http://www.hbgholdings.com/rssfeed/202.htmlFebruary 08th, 2011

M&A volumes in the GCC are expected to increase by 20% in 2011 over 2010, with Saudi Arabia set to witness the bulk of activity. This is according to a report titled “2011 Middle East M&A Barometer” released by M Communications. The survey polled 30 investment bankers across the region. Most were of the opinion that midmarket deals will continue to dominate the volumes while financial services sector is expected to see the most M&A activity owing to a need for consolidation. 

 

]]> Mideast Private Equity Activity Starts to Revivehttp://www.hbgholdings.com/rssfeed/201.htmlJanuary 08th, 2011

Good article in the New York Times DealBook on revival of Middle East private equity in 2011. 

 

]]> Alternative Investment Market listings set to increase says Deloittehttp://www.hbgholdings.com/rssfeed/210.htmlJanuary 05th, 2011The number of companies listing on the Alternative Investment Market (AIM) is set to increase in the first half of 2012, for the first time since 2007, according to new research conducted by Deloitte.

]]> Record exits by PE firms in Q4 2010http://www.hbgholdings.com/rssfeed/200.htmlJanuary 01st, 2011

Global PE witnessed a resurgence in Q4 2010 with more exits than any previous period, as revealed by Preqin, the PE watchdog. There were approximately 265 exits in the quarter worth $71.8bn while 593 new PE deals worth $64.2bn were announced. The exit value of $71.8bn is almost equal to the value for whole of 2009. Emerging markets also saw an increase of 39% in deal activity over Q3, with 66 deals valued at $8.6bn. 

 

]]> Saudi Government to spend SAR 580bn to drive growth in 2011http://www.hbgholdings.com/rssfeed/199.htmlDecember 01st, 2010

In its annual budget, the Saudi government has announced plans to spend up to SAR 580bn with a higher focus on investing in infrastructure, health and education to spur growth and job creation in 2011. Driven by high oil prices, the Saudi government has decided to increase economic stimulus to encourage sustainable growth. 

 

]]> Five Indian companies join AIM in 10 weekshttp://www.hbgholdings.com/rssfeed/198.htmlNovember 01st, 2010

The London Stock Exchange announced today that Jubilant Energy has become the fifth Indian company to float on AIM in the last ten weeks. Between them the five new Indian admissions have raised an estimated $344.4 million.

Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said:

“This flurry of new Indian admissions by five diverse, ambitious and growing companies highlights the increasingly central role India is playing in the global economy, and how London can provide the capital to match the country’s appetite for growth. 

 

 

 

]]> The perils of stock-picking on AIMhttp://www.hbgholdings.com/rssfeed/195.htmlOctober 08th, 2010

A very good article on investing in AIM in today’s FT by Ellen Kelleher. The gist of the article is that while the AIM market offers great overall returns (it is up 22% YTD), it is a perilous area for the unsophisticated private investor seeking a small position. The biggest danger is that of de-listing as statistics reveal that close to 500 companies have left the market since 2007. The article backs up HBG’s strategy of taking strategic stakes in companies where HBG can unlock the maximum value. 

 

]]> UK Foreign Office to create Middle East Task Force to bolster trade and investment between UK and Gulfhttp://www.hbgholdings.com/rssfeed/196.htmlOctober 07th, 2010

This was announced by the UK Foreign Office minister Henry Bellingham at the GCC-UK Economic Cooperation Seminar held recently. The minister said that the Gulf States are UK’s 7th largest export market, bigger than China and India combined.

Another key trend he noted is the increasing linkages established between Gulf financial centers and British institutions like TheCityUK at the ministerial level while also negotiating further Double Taxation and Investment Protection Agreements.

 

]]> AIM contributes 21 billion to UK economyhttp://www.hbgholdings.com/rssfeed/194.htmlSeptember 01st, 2010

In 2009, companies on the London Stock Exchange’s growth market AIM contributed a total of £21 billion to UK GDP and supported 570,000 jobs through direct, supply chain and multiplier effects, but greater fiscal incentives and fewer restrictions are needed to stem net outflows of capital from small caps and enhance the economic benefits delivered by the sector, according to a report by Grant Thornton, commissioned by the London Stock Exchange.

 

]]> GCC Education Sector gets attention of PE houseshttp://www.hbgholdings.com/rssfeed/193.htmlSeptember 01st, 2010

A recent report published by Alpen Capital highlights the growing trend of PE investment in the education sector. This is corroborated by evidence from Zawya: more than $242m invested in GCC education sector across 6 deals since 2006 (with a few more undisclosed). PE has helped these companies grow organically as well as through acquisitions. I see a rising trend of PE investment in both education and healthcare in GCC during the medium term. 

 

]]> Money supply resumes growth in June 2010http://www.hbgholdings.com/rssfeed/190.htmlAugust 11th, 2010 PE focusing on Small and Mid-Market Companieshttp://www.hbgholdings.com/rssfeed/192.htmlAugust 02nd, 2010

This article by Simeon Kerr on FT last week gets it absolutely right in terms of current dynamics in GCC PE. As leverage disappears from the market, PE firms are increasingly concentrating on small and mid-market companies. The most telling quote in the article is from a PE practitioner: “Before people were making money without thinking, but now it’s time to roll up our sleeves and get to work”

 

]]> Gulf Venture Capital Association Annual Report 2009http://www.hbgholdings.com/rssfeed/188.htmlJuly 21st, 2010'Private equity fundraising in H1'2010 is already equal to fundraising in FY2009. This would suggest that private equity activity is expected to gradually increase after two turbulent years for the regional industry' said Mr. Nasser Saidi from Hawkamah during the launch of the GVCA Annual Report 2009.

]]> Private equity to emerge strongerhttp://www.hbgholdings.com/rssfeed/187.htmlJuly 19th, 2010Access to capital is unlikely to be a problem for private equity firms in the Middle East as the region is flush with liquidity and regional GDP is set to grow 3.5% in 2010 according to a report by Insead.

]]> Private equity needs structural changeshttp://www.hbgholdings.com/rssfeed/189.htmlJuly 10th, 2010The market for leveraged buy-outs has dried up forcing private equity firms to focus on growth capital and equity driven transactions according to an article by Robin Wigglesworth in the Financial Times. Wigglesworth believes the scarcity of credit is putting pressure not only on returns but also on the buyout model which is unsustainable and will lead to the disappearance of a substantial number of private equity funds.

]]> Saudi oil official raises awkward but crucial questionshttp://www.hbgholdings.com/rssfeed/185.htmlJuly 06th, 2010 MidEast to favor emerging marketshttp://www.hbgholdings.com/rssfeed/184.htmlJuly 06th, 2010 Crisis takes its toll on private equity returnshttp://www.hbgholdings.com/rssfeed/183.htmlJune 28th, 2010More than half of private equity investors have seen their annual net returns from the asset class fall to 10 per cent or less, as the financial crisis has taken its toll says an article in the Financial Times.

]]> Ministers back new EU hedge fund ruleshttp://www.hbgholdings.com/rssfeed/182.htmlJune 27th, 2010'Controversial new rules for hedge fund and private equity fund managers operating in Europe are moving forward after winning the backing of European Union finance ministers' as per the Financial Times. There are still significant differences in the two sets of draft regulations, but meetings are expected to take place with the intention of resolving the issues before August 2010.

]]> Buy-out specialists take another lookhttp://www.hbgholdings.com/rssfeed/181.htmlJune 23rd, 2010'In the world of luxury goods, the ocean-going motor yachts that fill the harbor at Monaco every summer have to be the ultimate symbol of lavish excess' says an article in the Financial Times. Private equity investors are still injecting fresh equity in luxury yacht brands and the most recent deal involved a £25m injection into Sunseeker, one of the best-known luxury yacht brands.

]]> Making a date with a venturehttp://www.hbgholdings.com/rssfeed/180.htmlJune 15th, 2010London's Mayfair hotel played host to 70 investors gathered for a chance to meet the UK and Ireland's 30 hottest technology start-ups says a Financial Times article. The UK and Ireland Tech Tour is a two-day speed-dating event that introduces young technology companies in need of money to potential investors.

]]> Money can t buy lovehttp://www.hbgholdings.com/rssfeed/179.htmlJune 10th, 2010'US Congress is considering removing certain tax perks that have helped inflate the private equity bubble' says The Economist. The legislation in question is the 'American Jobs and Closing Tax Loopholes Act of 2010' and the change is set to impact the treatment of 'carried interest'.

]]> Bracing for Greek contagion Saudi exports could suffer minimally from fallouthttp://www.hbgholdings.com/rssfeed/178.htmlJune 01st, 2010'Trade with Europe, source of almost a third of Saudi imports and destination of 10.6% of exports, could get slightly shaken by debt woes, but impact on trade remains minimal' says a report by Banque Saudi Fransi on concerns over Greece's debt crisis.

]]> MENA Private Equity Updatehttp://www.hbgholdings.com/rssfeed/177.htmlMay 27th, 2010 China and the Gulf take steps along a new silk roadhttp://www.hbgholdings.com/rssfeed/176.htmlMay 24th, 2010 Investors target emerging market private equityhttp://www.hbgholdings.com/rssfeed/175.htmlMay 24th, 2010 Top financiers say bankruptcy law important for Saudi Arabiahttp://www.hbgholdings.com/rssfeed/174.htmlMay 23rd, 2010Christopher Garnett, Director of Euromoney Conferences rounded off the first day of the Euromoney Conference in Riyadh, Saudi Arabia by moderating a lively discussion on Saudi corporate finance.

]]> Gulf Petrochemical Industry downstream processing sector growth is inevitablehttp://www.hbgholdings.com/rssfeed/173.htmlMay 16th, 2010For the past three decades, the Gulf petrochemicals industry has seen phenomenal growth. The center of gravity has now shifted from the traditional producing regions of North America, Europe and Japan to the lowest cost producing region of basic petrochemicals – the Gulf.

]]> AIM s 2009 performance attracts more firmshttp://www.hbgholdings.com/rssfeed/172.htmlMay 10th, 2010 Goldman bankers look increasingly like dinosaurshttp://www.hbgholdings.com/rssfeed/171.htmlApril 23rd, 2010 Yahoo Middle East CEO shares insights at private equity summithttp://www.hbgholdings.com/rssfeed/169.htmlApril 14th, 2010 Private Equity Summit - Regional CEO Panelhttp://www.hbgholdings.com/rssfeed/168.htmlApril 13th, 2010 PE firms to set up offices in Kingdomhttp://www.hbgholdings.com/rssfeed/163.htmlApril 13th, 2010 NCB s net income up 35http://www.hbgholdings.com/rssfeed/162.htmlApril 13th, 2010 NCB Capital appoints new CEOhttp://www.hbgholdings.com/rssfeed/161.htmlApril 13th, 2010 Turning the Corner Slowlyhttp://www.hbgholdings.com/rssfeed/159.htmlApril 12th, 2010 Muhammad Al Agil thrills investors at private equity summithttp://www.hbgholdings.com/rssfeed/158.htmlApril 12th, 2010 Kingdom seen to be next big private equity markethttp://www.hbgholdings.com/rssfeed/156.htmlApril 12th, 2010 Bearing the funding burdenhttp://www.hbgholdings.com/rssfeed/152.htmlMarch 30th, 2010 PEI Middle East Private Equity Update The outlook for 2010 remains challenginghttp://www.hbgholdings.com/rssfeed/150.htmlMarch 17th, 2010 Saudi set to launch index funds for foreignershttp://www.hbgholdings.com/rssfeed/148.htmlMarch 14th, 2010 Oman budget alerthttp://www.hbgholdings.com/rssfeed/153.htmlMarch 10th, 2010The Government of Oman has announced an expansionary budget of RO7.2bn. The total planned deficit is RO800mn or approximately 3% of GDP. The deficit will largely be financed from current reserves.

]]> Global Competitiveness Forumhttp://www.hbgholdings.com/rssfeed/151.htmlMarch 10th, 2010'Although competitiveness can sound like a negative word, it is in fact about teamwork, loyalty and helping other people' said Tony Blair while delivering his Keynote speech on the second day of the Global Competitiveness Forum (GCF) 2010 in Riyadh.

]]> Slow but sure Saudi set for steady recovery in 2010 http://www.hbgholdings.com/rssfeed/145.htmlFebruary 26th, 2010 World Economic Forum Davos 2010http://www.hbgholdings.com/rssfeed/142.htmlFebruary 26th, 2010 Patient capital in an impatient worldhttp://www.hbgholdings.com/rssfeed/141.htmlFebruary 26th, 2010 World Economic Forum Annual Meeting 2010http://www.hbgholdings.com/rssfeed/140.htmlFebruary 26th, 2010 The decade MENA came to behttp://www.hbgholdings.com/rssfeed/146.htmlFebruary 24th, 2010MENA FDI inflows in 2008 multiplied 25 times when compared against the average FDI inflows during the 1990’s says a report by Arabia Monitor on MENA Outlook. It further adds that oil at US$50 per barrel will earn the GCC a cumulative US$4.7 trillion in the next 10 years or 2.5x cumulative earnings of the last 14 years.

]]> Sir Ken Robinson Do schools kill creativityhttp://www.hbgholdings.com/rssfeed/130.htmlFebruary 22nd, 2010 Saudi Fast Growth 100http://www.hbgholdings.com/rssfeed/124.htmlFebruary 13th, 2010Take a look at this video which is portrays a very different image of Saudi Arabia and shows how policymakers are thinking about the future.

]]> Nordic Private Equity Congress Business and Investment Opportunities in Emerging Markets http://www.hbgholdings.com/rssfeed/128.htmlJanuary 25th, 2010 Saudi Banks The tide is turninghttp://www.hbgholdings.com/rssfeed/126.htmlJanuary 22nd, 2010 SuperReturn Middle East Presentations from the 2009 Summithttp://www.hbgholdings.com/rssfeed/127.htmlJanuary 15th, 2010 Pakistan Government to sell stake in 9 companieshttp://www.hbgholdings.com/rssfeed/125.htmlJanuary 10th, 2010 Saudi Arabia Retail business to grow 21 by 2013http://www.hbgholdings.com/rssfeed/114.htmlJanuary 04th, 2010 Saudi Arabia Open for businesshttp://www.hbgholdings.com/rssfeed/113.htmlJanuary 03rd, 2010Saudi Arabia's budget released on the 14th of December projects a 14% increase in government expenditure next year to a record level of SR540 billion (US$144 billion) according to a report by Banque Saudi Fransi. The intention is to stimulate the economy with particular emphasis on education and infrastructure which are budgeted to rise by 13% and 30% respectively.

]]> Impact on Saudi from Dubai debt fallouthttp://www.hbgholdings.com/rssfeed/112.htmlDecember 30th, 2009 Saudi Arabia Aggressive fiscal stimulus to boost economic growth by 3 during 2010http://www.hbgholdings.com/rssfeed/109.htmlDecember 28th, 2009 The new entrepreneurs of the Middle East must face up to the crisis or failhttp://www.hbgholdings.com/rssfeed/108.htmlDecember 28th, 2009 Dubai s history has always been one of resiliencehttp://www.hbgholdings.com/rssfeed/107.htmlDecember 10th, 2009 How to kill creativity in the Arab worldhttp://www.hbgholdings.com/rssfeed/106.htmlDecember 10th, 2009 Golden Dubai - June 6th 1970http://www.hbgholdings.com/rssfeed/105.htmlDecember 10th, 2009 PE World MENA Panel Discussion Saudi Arabia as the region s powerhousehttp://www.hbgholdings.com/rssfeed/110.htmlDecember 06th, 2009 Dubai Investor concern over debt repayment - Al Jazeerahttp://www.hbgholdings.com/rssfeed/104.htmlDecember 05th, 2009 To suggest private equity fees apart from carried interest pay for Ferrari s is absurdhttp://www.hbgholdings.com/rssfeed/98.htmlNovember 18th, 2009 Middle East private equity industry to shrink by 70 http://www.hbgholdings.com/rssfeed/96.htmlNovember 14th, 2009 MENA Investor Summit 2009http://www.hbgholdings.com/rssfeed/111.htmlNovember 08th, 2009The 1st MENA Investor Summit took place in Jeddah on the 1st and 2nd of November 2009. The event brought over 150 investors from across the region and introduced them to pre-selected 28 companies.

]]> Global Investor Attitude to Private Equityhttp://www.hbgholdings.com/rssfeed/99.htmlOctober 20th, 2009A recent survey the British Venture Capital Association (BVCA) examines the attitudes of over 100 LPs towards investing in private equity funds over the next two years. The results are mixed with investors intending to decrease allocations in the short term but expressing positive sentiments about their long-term allocations to private equity funds.

]]> Richard Sharp Deflated egos and the disappearance of credithttp://www.hbgholdings.com/rssfeed/100.htmlOctober 14th, 2009Day 1 at SuperReturn started with Richard Sharp (formerly Goldman Sachs) talking about how the private equity industry had gone through changes in three main areas: a) Deflated egos amongst the key players, b) Disappearance of credit across the region and c) A realization that making money is not as easy as it used to be.

]]> Saudi Businessman Buys Struggling Portsmouth FChttp://www.hbgholdings.com/rssfeed/103.htmlOctober 08th, 2009A Saudi business tycoon Ali Al Faraj has bought a 90% stake in the struggling Portsmouth Football Club for an undisclosed amount. He is the 3rd owner of the Portsmouth in 2 months.

It was just 6 weeks ago that Sulaiman Al Fahim, CEO of Hydra Properties (Dubai residents might have seen him on the reality series Hydra Executives), bought the club from Sacha Gaydamak for a rumoured £60 million.

]]> Investors shun PE funding in favour of minority stakeshttp://www.hbgholdings.com/rssfeed/97.htmlOctober 08th, 2009 The 3rd Annual Middle East North Africa Turkey South Asia Private Equity Venture Capital Summithttp://www.hbgholdings.com/rssfeed/95.htmlOctober 01st, 2009If you are interested in Middle Eastern Private Equity checkout the upcoming SuperReturn Middle East Private Equity summit that is to be held in Dubai starting 12th October 2009.

]]> Gordon Gecko taught us Greed is good What will be his mantra this time aroundhttp://www.hbgholdings.com/rssfeed/91.htmlSeptember 27th, 2009Oliver Stone and Michael Douglas are back reprising the role of Gordon Gecko in Wall Street 2. The original film shot in 1987 (yes it was 20+ years ago!) was a tale about greed, excess and unchecked ambition which encouraged many young people at the time to pursue a career in high finance.

]]> Murdoch in talks with Rotana of Saudihttp://www.hbgholdings.com/rssfeed/90.htmlSeptember 26th, 2009Rupert Murdoch's News Corp is in talks with Saudi billionaire Prince Alwaleed bin Talal to buy a 20 percent stake in broadcaster Rotana Media, the Wall Street Journal reported, citing people familiar with the deal. Kingdom Holdings, the investment vehicle for Prince Alwaleed, is already a major shareholder in News Corporation.

]]> A marriage of convenience - Maktoob and Yahoohttp://www.hbgholdings.com/rssfeed/89.htmlSeptember 26th, 2009Yahoo gave web entrepreneurs in the Middle East much to cheer about by recently announcing its acquisition of Maktoob,  a regional competitor: see Arabian Business.

]]> Challenges for Private Equity in GCC - Sultan AlQassemihttp://www.hbgholdings.com/rssfeed/88.htmlSeptember 26th, 2009Sultan Al-Qassemi comments in his blog, Challenges for Private Equity in the GCC, about the nature and accessibility of private equity capital in the Middle East. His perspective is interesting as he himself is an experienced investor and knows the regional landscape very well.

]]> Saudis open hi-tech science oasis - but there is another storyhttp://www.hbgholdings.com/rssfeed/85.htmlSeptember 25th, 2009A new multi-billion dollar science and technology university has opened in Saudi Arabia, according to a report on the BBC News website. You would expect, given the significant wealth of Saudi Arabia, that The King Abdullah University of Science and Technology near Jeddah would boast the best of everything including one of the world's fastest supercomputers.

]]> Super talent leaving Londonhttp://www.hbgholdings.com/rssfeed/84.htmlSeptember 25th, 2009Fiona Sheffield of E&Y on CNBC talking about threat of hedge fund exodus from London.

]]> Are private equity fees justifiedhttp://www.hbgholdings.com/rssfeed/83.htmlSeptember 25th, 2009The subject of private equity fees stirs up much emotion amongst industry participants and commentators. It's frustrating for practioners to see news articles (like the one attached) confusing the rationale for charging fees with the quantum being charged.

]]> Private equity good or badhttp://www.hbgholdings.com/rssfeed/81.htmlSeptember 22nd, 2009Interesting interview on SKY News with private equity spokesperson Catherine Woodthorpe. It is worth a look if you want to learn more about private equity and hear an industry insider defend its reputation.

]]> Include Arabian Gulf in BRIChttp://www.hbgholdings.com/rssfeed/80.htmlSeptember 22nd, 2009The Arabian Gulf countries of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain should be added to the economic group referred to as BRIC's, to create a new group called ABRIC, according to Fawzi Jumean in The National.

]]> Saad in settlement with Saudi lendershttp://www.hbgholdings.com/rssfeed/79.htmlSeptember 22nd, 2009Saad Group has struck a deal with local banks to settle more than US$700 million in debts, according to a report in The National.

]]> Dubai World litmus test for Dubai Inchttp://www.hbgholdings.com/rssfeed/78.htmlSeptember 22nd, 2009Dubai World - the state-owned conglomerate - with interests ranging from ports to property and investment, is being watched closely as it symbolises the acute problems facing Dubai in the wake of the financial crisis.

]]> Private equity groups adapt to new landscapehttp://www.hbgholdings.com/rssfeed/77.htmlSeptember 21st, 2009A number of large private equity firms including Candover, Permira and TPG have recently frozen or downsized their latest buy-out funds.

]]> Your child could live to 150http://www.hbgholdings.com/rssfeed/76.htmlSeptember 21st, 2009Recent advances in science and medicine make it possible that plenty of children born today may, in fact, live until 120, according to a report in the Times of London.

]]> Saudi the central banker of oilhttp://www.hbgholdings.com/rssfeed/75.htmlSeptember 21st, 2009Saudi Arabia will remain the world's central banker of oil as the world's dependence on the kingdom grows in the coming years. Oil is to remain the world's biggest source of energy for the forseeable future, with Saudi its biggest supplier.

]]> The Arab World waking from its sleephttp://www.hbgholdings.com/rssfeed/74.htmlSeptember 21st, 2009The Economist published a report on the Arab World in July 2009. It covered the same old issues of democracy, oil, war and palestine.

]]> Private equity investors focusing on secondary markethttp://www.hbgholdings.com/rssfeed/73.htmlSeptember 21st, 2009The financial crisis has adversely impacted private equity fundraising but a recent survey of 250 investors by Almeida Capital found that 78 per cent of investors had either bought a private equity position in the secondary market or expected to do so soon.

 

]]> Major developers pull out of Cityscapehttp://www.hbgholdings.com/rssfeed/72.htmlSeptember 19th, 2009Three of Dubai's leading real estate developers have pulled out of Cityscape 2009, according to a report in Business 24/7. Understandable in the current economic environment but one wonders how the biggest event in the conference calendar will cope without support from Limitless, Nakheel and Emaar. Is anyone still planning to attend?

]]> Microsoft Bing visual search takes fight to Googlehttp://www.hbgholdings.com/rssfeed/71.htmlSeptember 19th, 2009It wasn't that long ago when Microsoft was the "good guy".They were known to be cutting edge, youthful and revolutionary. Their founder, Bill Gates, was the only nerd on the planet that everyone wanted to emulate. Fast forward a couple of decades and the same Microsoft is considered to be "too big" and anti competitive.

 

 

]]> Algosaibi retains 2 2 stake in Sambahttp://www.hbgholdings.com/rssfeed/70.htmlSeptember 18th, 2009There are mixed reports coming out of Saudi Arabia about the status of Algosaibi's shareholding in Samba. Whilst earlier reports suggested that he had stepped down from his position as Chairman and divested his strategic stake, family sources earlier today insisted that the Algosaibi stake remains in tact.

]]> Wastewater management in Middle East a multi-billion dollar industryhttp://www.hbgholdings.com/rssfeed/25.htmlAugust 24th, 2009A growing population in the Middle East has intensified the problems of water scarcity and wastewater management in the region. Regional governments are responding by speeding up reforms and involving the private sector which should create significant business opportunities, reported the Saudi Gazette in a special wastewater report.

]]> Omani Banking Sector - an overlooked but interesting storyhttp://www.hbgholdings.com/rssfeed/24.htmlAugust 10th, 2009The Oman Economic Review has recently published a report on the Omani Banking Sector1. The report ranks the 5 biggest banks based on three parameters: growth, profitability and sustainability. The largest bank in the country, Bank Muscat, came out clearly at the top, followed by Oman Arab Bank and Bank Dhofar. The small but aggressive National Bank of Oman comes in at #4, while the list is rounded up by Oman International Bank at #5.

]]> Mideast private equity declines sharply but UAE still tops GCC rankinghttp://www.hbgholdings.com/rssfeed/22.htmlAugust 04th, 2009The sheer breadth and depth of the financial crisis has taken everybody by surprise and financial services are amongst the worst hit sectors. Nevertheless, even in these turbulent times the UAE has emerged as the best performing geography for private equity deals according to a report by Business 24|7 but the report also went on to say that overall M&A and private equity activity declined sharply in H1 2009.

]]> Optimism continues to drop in Q2 09 Have we hit bottomhttp://www.hbgholdings.com/rssfeed/23.htmlJuly 20th, 2009Dun & Bradstreet and National Commercial Bank (NCB) monitor business optimism in the GCC region using the Business Optimism Index (BOI). The quarterly survey randomly selects corporate companies from the D&B database and provides a leading indicator of economic activity.

]]> US Saudi Trade Relationshttp://www.hbgholdings.com/rssfeed/101.htmlJuly 15th, 2009 Food security KSA plans a US 5 3 billion Agriculture Development Fundhttp://www.hbgholdings.com/rssfeed/21.htmlJuly 14th, 2009Saudi Arabia is aggressively seeking food supply diversification through asset acquisition in Africa and Asia. Savola Al Azizia United Co's Managing Director Mr. Sami Baroum acknowledged the support provided by Saudi Government to help expand food processing businesses beyond the national boundaries, reported Bloomberg in March 2009.

]]> From Enron to Ahab Group Corporate Governance continues to be a moving targethttp://www.hbgholdings.com/rssfeed/20.htmlJuly 05th, 2009In Dec 2001, Enron filed for chapter 11 after a six month investigation led to the end of 'America’s most innovative Company' as rated by Fortune. After an in-depth investigation, revealed that Enron had been most innovative with its financial structure the firm's erstwhile auditors Arthur Anderson were dissolved. This really brought to the forefront the critical question: in this era of business and financial complexity, who can the investors really trust?

]]> Declining Confidence Level but the pace is slowinghttp://www.hbgholdings.com/rssfeed/102.htmlJune 20th, 2009 Home-grown strategies for successhttp://www.hbgholdings.com/rssfeed/18.htmlJune 02nd, 2009The World Economic Forum on the Middle East was held in Jordan on May 15th/16th. The event was marked with various key discussion forums for the regional business community. The response to the economic crisis was to put more emphasis on reform rather than intervention by governments.

]]> Changing Role of Private Equity Post Economic Crisishttp://www.hbgholdings.com/rssfeed/13.htmlJune 02nd, 2009There is little doubt as to the role expanding credit has played in bringing about the current recession. An increasing number of economists believe this recession is the start of a long-term deleveraging of the global economy. They are not without reason: US credit market debt as a percentage of GDP currently stands at 350%. The only other significant rise historically was during the Great Depression.

]]> Capital spending doubles in KSA during Q1 09http://www.hbgholdings.com/rssfeed/12.htmlJune 02nd, 2009The Finance Minister of Saudi Arabia, Ibrahim Al-Assaf, addressed the Euromoney Conference in Riyadh last week (May 19, 2009) and suggested that the government had awarded contracts worth over US$11 billion up from US$5.3 billion in the same period last year.

]]> Central Bank dispute could delay GCC monetary unionhttp://www.hbgholdings.com/rssfeed/17.htmlMay 24th, 2009In a surprise move, Riyadh was selected as the location for the GCC Central Bank headquarters; the Saudi Gazette reported at the regional summit of GCC leaders in Riyadh.

]]> Small Caps bail out of AIMhttp://www.hbgholdings.com/rssfeed/14.htmlMay 24th, 2009Small companies listed on London’s AIM market are unable to attract investors as they shift emphasis to mid-cap and large-cap companies. With the proportion of micro-cap companies on AIM growing and number of de-listings rising, it might be the right time to look at AIM differently.

]]> Analysis of the UK AIM Markethttp://www.hbgholdings.com/rssfeed/15.htmlMay 19th, 2009Britain’s Alternative Investment Market (AIM) market is being severely tested this year. There have been very few flotations - only £3m was raised in the first quarter of 2009 compared to £300m in the same period of 2008; 77 companies have delisted compared to 45 in the same first quarter of last year;

]]> The changing dynamics of Petrochem industry in Middle Easthttp://www.hbgholdings.com/rssfeed/11.htmlMay 17th, 2009The global petrochemical industry is rapidly changing with the Middle East rapidly increasing its share of global capacity. There are not only a growing number of petrochemical ventures but state-owned firms are continuing their expansion internationally even as global demand falls sharply.

]]> Top GCC Billionaires Net Worth Down 25http://www.hbgholdings.com/rssfeed/7.htmlMay 11th, 2009The wealthiest individuals in the Gulf have lost at least 25% of their wealth in the past one year due to the global economic crisis. The combined wealth of the top 20 billionaires is down from $115.4bn to $82.5bn.

]]> Obama calls for new age of energy explorationhttp://www.hbgholdings.com/rssfeed/1.htmlApril 27th, 2009President Barack Obama declared that a "new era of energy exploration in America" would be a crucial to leading the nation out of an economic crisis. Obama went on to say, "Now, the choice we face is not between saving our environment and saving our economy, the choice we face is between prosperity and decline. We can remain the world's leading importer of oil, or we can become the world's leading exporter of clean energy."

]]> Private Equity in Emerging Markets continues to attract LP s attentionhttp://www.hbgholdings.com/rssfeed/16.htmlApril 16th, 2009The Emerging Markets (EMs) Private Equity Survey is conducted by the Emerging Markets Private Equity Association on an annual basis. The survey researches the investment patterns, likes and dislikes of Limited Partners, representing North America (47%), Europe (41%) and Rest of the World (12%), for investment flows into the Emerging Markets.

]]> GCC Business Confidence Index slips for the second quarter in a rowhttp://www.hbgholdings.com/rssfeed/9.htmlApril 14th, 2009HSBC monitors business confidence in the GCC region with its Business Confidence Index. The quarterly index polls executives and professionals from across the GCC region and is a good barometer of business attitudes. The latest index, out in March 2009, indicates a worsening of business confidence, albeit at a decreasing rate.

]]> AIM exodus gains momentumhttp://www.hbgholdings.com/rssfeed/2.htmlApril 12th, 2009The AIM market has seen a dramatic change of fortune as the global financial crisis has unfolded since 2008.In the last year the AIM index dropped almost 70% and in the process wiping £50bn-£60bn of the total market cap of AIM listed companies. The Financial Times recently reported that there is now a growing move towards delisting which is a controversial issue.

]]> Private Equity the industry continues to maturehttp://www.hbgholdings.com/rssfeed/10.htmlApril 07th, 2009Private Equity is well positioned in these difficult times to capitalize on lower valuations and provide much needed liquidity when funding is scarce but growth still anticipated. This is according to the 2008 annual report by Gulf Venture Capital Association (GCVA)

]]> GCC on track to become a 2 trillion economyhttp://www.hbgholdings.com/rssfeed/3.htmlMarch 22nd, 2009Over the last 10 years, the Gulf Co-operation Council (GCC) region, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, has expanded its GDP by approximately 65% according to a report published by the Economist Intelligence Unit entitled "The GCC in 2020".

]]> Reform continues in Saudi Arabiahttp://www.hbgholdings.com/rssfeed/8.htmlMarch 02nd, 2009The King of Saudi Arabia announced sweeping changes in government that surprised many observers. The reshuffle affects top positions in education, the courts, the armed forces, the central bank, the religious police and the Shura Council.

]]> Multimillionaires stopping affairs for financial reasonshttp://www.hbgholdings.com/rssfeed/4.htmlFebruary 25th, 2009A report by the Economist Intelligence Unit entitled “Global economic outlook 2009 – 2010” makes for alarming reading. Its conclusions are many including:

]]> Education in Middle East Challenge or Opportunityhttp://www.hbgholdings.com/rssfeed/19.htmlFebruary 08th, 2009As the oil wealth of the region has increased, investing in human capital and sustainable educational development has become more important than ever for the GCC countries. NCB Capital's report on 'Shaping the Future', calls for increased government spending directed at building education infrastructure and ensuring long-term development far beyond an oil-based strategy.

]]> Saudi Arabia steers steady economic coursehttp://www.hbgholdings.com/rssfeed/5.htmlJanuary 07th, 2009After seven years of budget surpluses, Saudi Arabia will post a budget deficit of US$17 billion in 2009. This comes a year after the country recorded a budget surplus of US$157 billion fueled primarily by record high oil prices. The timing of the deficit is in line with worldwide expectations of higher government spending to spur growth.

]]> The Gulf emerging as a new financial services centrehttp://www.hbgholdings.com/rssfeed/6.htmlJuly 14th, 2008Chatham House has published a report on the Gulf Cooperation Council or “GCC”, as it is commonly known, and concluded that the economic bloc is fast emerging as a significant financial services centre. 

The GCC is made up of six oil producing countries including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The GCC is strategically located and has served as a hub for East-West trade for centuries but it was the discovery of oil that has enabled the GCC to modernize and develop at breakneck speed.

]]> Presentation of credentials by H E Ambassador Abdallah Y Al-Mouallimi Saudi Arabia to Jose Manuel Barroso President of the European Commission http://www.hbgholdings.com/rssfeed/117.htmlMarch 26th, 2008