Qatar Wealth Fund Invests in London-Based Venture Capital Firm Utopia - Bloomberg
The Qatar Investment Authority has invested in London-based Utopia Capital Management, which focuses on startup investments in emerging and frontier markets.
QIA is making a “multimillion-dollar” investment into Utopia Capital, which will open its Middle East headquarters in Doha, according to a statement reviewed by Bloomberg News. QIA’s investment marks one of the first capital deployments from its Fund of Funds program that aims to develop startups and venture capital in Qatar.
Utopia Capital primarily invests in tech-enabled startups in Africa and Southeast Asia. It has raised $200 million from investors with eight offices globally, its website shows.
Qatar’s prime minister, Sheikh Mohammed Al Thani, launched the Fund of Funds program in February 2024 to foster innovation in the country and support local and regional entrepreneurs. The program aims to invest more than $1 billion in international and regional venture capital funds and will place a priority focus on technology and health care sectors.
Monday, 17 February 2025
Gulf markets end mixed on concerns over Trump tariff plans | Reuters
Gulf markets end mixed on concerns over Trump tariff plans | Reuters
Stock markets in the Gulf ended mixed on Monday as investors remained on edge, awaiting further details on U.S. President Donald Trump's reciprocal tariff plans and fearing a potential escalation of global trade tensions.
Trump on Friday revived his tariff threats, warning that automobile levies could kick in as soon as April 2. He also directed commerce and economic officials to explore reciprocal tariffs on countries imposing tariffs on U.S. goods, with a deadline for recommendations set for April 1.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.9%, weighed down by a 1% fall in Al Rajhi Bank (1120.SE), opens new tab and a 2.2% drop in ACWA Power Company (2082.SE), opens new tab.
However, Arabian Internet and Communications Services (7202.SE), opens new tab advanced 4.8%, to be the top gainer on the index, after the tech firm increased its annual cash dividend to 10 riyals per share, up from 6 riyals for 2023.
Dubai's main share index (.DFMGI), opens new tab rose 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab gaining 2.6%, after reporting a higher annual profit.
Emaar also proposed cash dividend of 1 dirham per share for 2024, up from 50 fils per share for 2023.
In Abu Dhabi, the index (.FTFADGI), opens new tab dropped 0.7%, with Burjeel Holding (BURJEEL.AD), opens new tab plunging 9.7%, following the hospital operator's board directive to evaluate the viability of a share repurchase program.
Oil prices - a catalyst for the Gulf's financial markets - were little changed, as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows.
The Qatari index (.QSI), opens new tab nudged 0.1% higher, helped by a 1% rise in Qatar Islamic Bank (QISB.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab concluded flat, ending three sessions of gains.
The Central Bank of Egypt is most likely to keep overnight interest rates unchanged on February 20 while policymakers wait for a clearer decline in inflation before considering cuts, according to a poll of 10 economists and analysts.
Stock markets in the Gulf ended mixed on Monday as investors remained on edge, awaiting further details on U.S. President Donald Trump's reciprocal tariff plans and fearing a potential escalation of global trade tensions.
Trump on Friday revived his tariff threats, warning that automobile levies could kick in as soon as April 2. He also directed commerce and economic officials to explore reciprocal tariffs on countries imposing tariffs on U.S. goods, with a deadline for recommendations set for April 1.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.9%, weighed down by a 1% fall in Al Rajhi Bank (1120.SE), opens new tab and a 2.2% drop in ACWA Power Company (2082.SE), opens new tab.
However, Arabian Internet and Communications Services (7202.SE), opens new tab advanced 4.8%, to be the top gainer on the index, after the tech firm increased its annual cash dividend to 10 riyals per share, up from 6 riyals for 2023.
Dubai's main share index (.DFMGI), opens new tab rose 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab gaining 2.6%, after reporting a higher annual profit.
Emaar also proposed cash dividend of 1 dirham per share for 2024, up from 50 fils per share for 2023.
In Abu Dhabi, the index (.FTFADGI), opens new tab dropped 0.7%, with Burjeel Holding (BURJEEL.AD), opens new tab plunging 9.7%, following the hospital operator's board directive to evaluate the viability of a share repurchase program.
Oil prices - a catalyst for the Gulf's financial markets - were little changed, as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows.
The Qatari index (.QSI), opens new tab nudged 0.1% higher, helped by a 1% rise in Qatar Islamic Bank (QISB.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab concluded flat, ending three sessions of gains.
The Central Bank of Egypt is most likely to keep overnight interest rates unchanged on February 20 while policymakers wait for a clearer decline in inflation before considering cuts, according to a poll of 10 economists and analysts.