Bloomberg Saudi Arabia started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45 billion in memorandum of understandings signed with private banks, according to ...

DUBAI / WAM Emirates NBD Capital Limited, the investment banking arm of Emirates NBD, announced that it has successfully closed Islamic Development Bank (IsDB’s) first ever USD Sustainability sukuk. The bank acted as Joint Lead Manager and Bookrunner for the landmark transaction by IsDB, rated Aaa/AAA/AAA by Moody’s/S&P/Fitch (each with stable outlook) The $1.5 billion, five-year sukuk is testament to ...

Dubai / WAM A series of reports from the Dubai Future Research, an initiative by the Dubai Future Foundation (DFF) anticipates the future of vital sectors in the aftermath of the ongoing global coronavirus crisis with several intelligence agencies worldwide exploring the adoption of Artificial Intelligence (AI) to counter cyber threats. In its eleventh “Life After Covid-19” report, the DFF, ...