The city's public transport system has many strict rules and regulations in place to ensure that everyone can have a safe and enjoyable journey
Chief Executive Iyad Duwaji told the Reuters Middle East Investment Summit on Tuesday Shuaa hoped to get an investment banking licence for the Arab world’s biggest economy later this year.
“The (licence application) process is underway. We have sent them all papers,” he said, adding Shuaa had agreed with four Saudi firms to start a joint venture in which the Dubai-based firm would hold 60 percent.
He said Shuaa, which has been hit by a stock market crash in the Gulf, planned to double its staff to 400 within two years as it expands in the Middle East in a drive to help investors in the region eyeing the Gulf.
“Gulf markets are opening up. We think the capital inflows will be increasing,” he said.
Shuaa Capital has secured regulatory approval to raise its stake in Qatari brokerage Amwal Investment to 47 percent from 22 percent. Shuaa has also applied for a brokerage licence in Qatar, he said.
Half of Shuaa’s brokerage revenues in the quarter to March 31 have come from foreign investors, mostly hedge funds, Duwaji said.
Shuaa, which is also active in Turkey, would also soon open an office in Cairo, Egypt’s capital.
Shuaa has seen profits falling for five consecutive quarters due to higher debt and hiring in a move to diversify its business.
He would not say whether Shuaa Capital had been approached by any competitor or possible investor for a takeover.
The city's public transport system has many strict rules and regulations in place to ensure that everyone can have a safe and enjoyable journey
Palestinian Ambassador to UNESCO Monir Anastas said the 'inscription is a message of hope to our people in Gaza, who are fleeing bombs with no shelter, no food or water'
The said delays are expected between the intersection of Hatta Road and Al Ain Road towards Abu Dhabi
Veerendra Kumar said he was cheated by a job agent who had promised him a job in Qatar but sent him to Saudi
The government authority announced the road closure on social media platform X
Around 800,000 passengers are expected to be affected over the weekend as the damage is heavy and labour-intensive to repair
A total of 17 candidates secured the All India Rank (AIR) 1 as per the final results while earlier the number was 67
Authority said the exercise will involve movement of military vehicles and urged residents to stay away from designated areas