Finance
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Recession in 2023 because of global rate hikes, says World Bank
According to the World Bank, interest rate increases by central banks around the world could lead to a global recession…
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Kuwaiti Conglomerate Alghanim Industries eyes IPO worth $1bn
One of Kuwait’s largest privately-owned companies, Alghanim Industries Ltd., is looking to raise nearly $1 billion through a prospective IPO,…
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India as the world’s fastest-growing robust economy might not last long
The GDP projections for the first quarter of the current fiscal year will be made public in a few days.…
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Dubai’s Damac to invest €1 Billion in Germany Tech
As part of the Dubai company’s development into technology, Emirati billionaire Hussain Sajwani’s Damac Group is looking at investment opportunities…
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World’s largest sovereign wealth fund loses record $174bn
Norway’s sovereign wealth fund, the world’s largest, lost 1.68 trillion Norwegian kroner ($174 billion) in the first half of 2022,…
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Saudi’s Public Investment Fund buys $7.5bn worth US stocks
According to a new filing, Saudi Arabia’s sovereign wealth fund has invested hundreds of millions of dollars in multiple US…
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Inflation bites as recession darkens the UK Economy
The British economy shrank in the second quarter of 2022 as the country’s cost-of-living issue took hold. Official numbers released…
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Dubai-based Payroll software secures funding from MBRIF
As part of its Guarantee Scheme, the Mohammed Bin Rashid Innovation Fund (MBRIF) has offered financing support to Bayzat, the…
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Dubai’s DIFC launches region’s first global centre for the ultra-wealthy family businesses
In an effort to increase its contribution to the emirate’s economy by 2030, the Dubai International Financial Centre is establishing…
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The US Fed vows ‘no surrender in inflation battle’
The Federal Reserve warned on Wednesday that it would not back down in its fight against the most severe outbreak…
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