Latest news with #MohamedAlMarzooqi
Zawya
14-05-2025
- Business
- Zawya
HSBC brings iconic lions to the UAE, reaffirming the bank's long-term commitment to the country and MENAT region
Dubai, UAE: HSBC, the largest international bank in the UAE, has brought its iconic bronze lions – Stephen and Stitt – to its UAE headquarters, marking the first time the bank's global symbols of growth and strength have been installed in the Middle East North Africa and Türkiye (MENAT) region. This historic milestone reflects HSBC's deepening commitment to the UAE and the wider MENAT region, as the bank continues to invest in key growth markets. The bank reported record profit before tax (PBT) of $2.5bn for the MENAT region in 2024, up 10% compared to the previous year, on a constant currency basis, with the UAE contributing $0.9bn in PBT. The presence of the lions, long-standing fixtures at HSBC's global headquarters in London and Hong Kong - now at HSBC Tower in the UAE serves as a bold statement of the international bank's continued ambition in the country. Welcoming the lions to the UAE, Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East Limited, said: 'Our iconic lions have stood guard at HSBC buildings for over a century. Bringing them to the UAE is a powerful symbol of our legacy in this market and our readiness to invest further to support our customers and the economic transformation. The UAE is investing in a future defined by diversification, innovation and global connectivity, and HSBC is here to help make that vision a reality. In line with our strategy, we are investing to grow our Corporate and Institutional Banking (CIB) business here and be the bank of choice in International Wealth & Premier Banking (IWPB). The lions are a visible reminder of our heritage, strength, and future focus.' HSBC has been at the heart of the UAE's financial ecosystem for nearly eight decades since opening its doors as the first bank in the Emirates in 1946, and the country continues to play a pivotal role in the Group's global strategy, serving as a trade, investment, wealth management, and innovation hub connecting Asia, the Middle East, Europe and the Americas. The bank's recent investments in the UAE include a first-of-its-kind digital liquidity management solution for corporate clients, the WorldTrader digital trading platform providing wealth customers access to investments internationally, and it has partnered with Abu Dhabi Department of Economic Development (ADDED) to launch a Centre of Excellence in Al Ain equipping Emiratis with the skills to thrive in the financial sector. The bank has led three out of the five largest international IPOs in the UAE last year, and of the $26.2 billion raised in IPOs in the UAE's financial markets between 2022 and 2025 YTD, HSBC was involved in 65% of the total deal value. To read more about HSBC lions, Stephen and Stitt, please click here. Media enquiries to: Ahmad Othman ahmadothman@ About HSBC in the MENAT region HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$73bn as at 31 December 2024.
Business Recorder
08-05-2025
- Business
- Business Recorder
Dubai on track to become top four global financial hub
Dubai's capital markets are playing a pivotal role in advancing the Emirate's ambition of becoming a global top four financial hub, largely driven by foreign investor activity, according to a new report published by HSBC in the UAE. 'Strategy to Scale: Dubai's Blueprint for Capital Market Growth' report, unveiled at the Capital Market Summit 2025, hosted by Dubai Financial Market (DFM), outlines how the fast-moving internationalisation of its equity and debt capital markets combined with an expansive structural reform agenda are bringing Dubai closer to its goal of being recognised among the world's top financial hubs, parallel to its goals outlined under D33 economic vision. Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East said, 'The sheer pace of change driving Dubai's capital markets growth requires consistent and clear guidance for new investors, particularly as an accelerating influx of institutional capital from right across the investment spectrum seeks to navigate and harness the region's dynamic opportunities,' he was quoted as saying by Arabian Business. Between 2016 to 2024, the DFM provided investors with higher returns than the broader MSCI EM Index, achieving a 4.9 per cent annualised US dollar return compared to 2.8 per cent for the broader emerging markets index. Foreign investors accounted for half of all trading on the DFM at the end of 2024 and represented 85 percent of all investors that registered with DFM in 2024, reflecting Dubai's international appeal, added the report. In 2024, the number of wealth and asset managers operating in Dubai International Financial Centre (DIFC) rose 16 percent year-on-year to 410, including 75 hedge funds of which 48 have more than $1billion under management, underscoring the changing shape of international investors, added the report. According to Dubai's Department of Economy and Tourism's (DET) FDI Monitor, venture-capital-backed FDI surged by 39% in 2024, a strong indicator of international investor confidence and Dubai's maturing innovation infrastructure. Dubai was also ranked in the top five cities for fintech in the latest edition of recent Global Financial Centre Index (GFCI) rankings. In 2024, Dubai accounted for 2.2 percent of global IPO volumes. According to the report, Dubai's debt capital markets are not only flourishing for its own credit universe, but for the world's, underpinned by an expanding DCM universe of local and international issuers. With one of the most developed debt capital markets in the MENA region, Nasdaq Dubai's growth as a global listing venue is encouraging more international issuers to bring deals to the Middle East, especially from Asia. Chinese corporations are increasingly turning to Dubai, with over $22 billion in debt on the exchange at the end of 2024. The past year also saw the value of outstanding Sukuk listed across Nasdaq Dubai and DFM reach $97.8 billion. Sukuk issuance across all currencies rose 42 percent year-on-year to $4.71 billion in Q1 2025, accounting for 76 percent of all debt capital market activity on Nasdaq Dubai during the period. Dubai's attractiveness as a listing destination is underscored by the fact that non-UAE fixed income issuers accounted for a full 45 percent of fixed income listings outstanding on the exchange in 2024, added the report.
Arabian Business
07-05-2025
- Business
- Arabian Business
Dubai on track to become top 4 global financial hub
Dubai's capital markets are playing a pivotal role in advancing the Emirate's ambition of becoming a global top four financial hub, with foreign investor participation now a defining feature of market activity, according to a new report launched by HSBC in the UAE. Unveiled at the Capital Market Summit 2025, hosted by Dubai Financial Market (DFM), 'Strategy to Scale: Dubai's Blueprint for Capital Market Growth' report unpacks how the fast-moving internationalisation of its equity and debt capital markets combined with an expansive structural reform agenda are bringing Dubai closer to its goal of being recognised among the world's top financial hubs, as outlined under D33 economic vision. Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East said: 'The sheer pace of change driving Dubai's capital markets growth requires consistent and clear guidance for new investors, particularly as an accelerating influx of institutional capital from right across the investment spectrum seeks to navigate and harness the region's dynamic opportunities.' Dubai is a global financial hub The report explores the broadening and internationalisation of its equity capital markets, including potential enhancements to secondary market deal flow and liquidity, and the technological initiatives to strengthen the financing ecosystem: Between 2016 to 2024, the DFM provided investors with higher returns than the broader MSCI EM Index, achieving a 4.9 annualised US dollar return compared to 2.8 per cent for the broader emerging markets index Foreign investors accounted for half of all trading on the DFM at the end of 2024 and represented 85 per cent of all investors that registered with DFM in 2024, reflecting Dubai's international appeal In 2024, the number of wealth and asset managers operating in Dubai International Financial Centre (DIFC) rose 16 per cent year-on-year to 410, including 75 hedge funds of which 48 have more than $1bn ($272m) under management, underscoring the changing shape of international investors In 2024, Dubai accounted for 2.2 per cent of global IPO volumes and hosted the world's largest tech IPO of the year – for on-demand food, grocery and retail delivery platform, Talabat Samer Deghaili, Co-Head of Investment Banking, Middle East, North Africa and Türkiye, HSBC, said: 'Dubai has opened up new pathways for issuers and investors across equity and debt capital markets. IPOs have been enjoying strong, often record-breaking demand, while its leading DCM hub status is providing an expanding universe of issuers with comprehensive options to raise funding in both foreign and the local currency.' According to the report, the city's debt capital markets are not only flourishing for its own credit universe, but for the world's, underpinned by an expanding DCM universe of local and international issuers. With one of the most developed debt capital markets in the MENA region, Nasdaq Dubai's growth as a global listing venue is encouraging more international issuers to bring deals to the Middle East, especially from Asia: Chinese corporations are increasingly turning to the emirate, with more than $22bn in debt on the exchange at the end of 2024 Dubai's attractiveness as a listing destination is underscored by the fact that non-UAE fixed income issuers accounted for a full 45 per cent of fixed income listings outstanding on the exchange in 2024 The UAE credit universe also had an active 2024, ranking as the third-largest dollar debt issuers from the emerging markets (excluding China) Last year saw the value of outstanding Sukuk listed across Nasdaq Dubai and DFM reach $97.8bn Sukuk issuance across all currencies rose 42 per cent year-on-year to $4.71bn in Q1 2025, accounting for 76 per cent of all debt capital market activity on Nasdaq Dubai during the period
Zawya
06-05-2025
- Business
- Zawya
Dubai nears top 4 global financial hub status as DFM foreign investor participation hits 85%: HSBC report
Dubai's bond and sukuk market hits $142 billion in Q1 2025 Dubai, UAE: According to a new report launched by HSBC in the UAE, Dubai's capital markets are playing a pivotal role in advancing the Emirate's ambition of becoming a global top 4 financial hub, with foreign investor participation now a defining feature of market activity. Unveiled at the Capital Market Summit 2025, hosted by Dubai Financial Market (DFM), 'Strategy to Scale: Dubai's Blueprint for Capital Market Growth' report unpacks how the fast-moving internationalisation of its equity and debt capital markets combined with an expansive structural reform agenda are bringing Dubai closer to its goal of being recognised among the world's top financial hubs, as outlined under D33 economic vision. The deep analysis, conducted in partnership with Dubai Financial Market (DFM), is designed as a guide for new investors entering the market. Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East said: 'The sheer pace of change driving Dubai's capital markets growth requires consistent and clear guidance for new investors, particularly as an accelerating influx of institutional capital from right across the investment spectrum seeks to navigate and harness the region's dynamic opportunities. This guide will help new issuers and investors understand how Dubai's openness to global capital and talent, its best-in-class infrastructure, and innovation are creating opportunities.' The report explores the broadening and internationalisation of its equity capital markets, including potential enhancements to secondary market deal flow and liquidity, and the technological initiatives to strengthen the financing ecosystem: Between 2016 to 2024, the DFM provided investors with higher returns than the broader MSCI EM Index, achieving a 4.9 annualised US dollar return compared to 2.8% for the broader emerging markets index. Foreign investors accounted for half of all trading on the DFM at the end of 2024 and represented 85% of all investors that registered with DFM in 2024, reflecting Dubai's international appeal. In 2024, the number of wealth and asset managers operating in Dubai International Financial Centre (DIFC) rose 16% year-on-year to 410, including 75 hedge funds of which 48 have more than US$1 billion under management, underscoring the changing shape of international investors. In 2024, Dubai accounted for 2.2% of global IPO volumes and hosted the world's largest tech IPO of the year - for on-demand food, grocery and retail delivery platform, Talabat. Samer Deghaili, Co-Head of Investment Banking, Middle East, North Africa and Türkiye, HSBC, said: 'Dubai has opened up new pathways for issuers and investors across equity and debt capital markets. IPOs have been enjoying strong, often record-breaking demand, while its leading DCM hub status is providing an expanding universe of issuers with comprehensive options to raise funding in both foreign and the local currency.' According to the report, Dubai's debt capital markets are not only flourishing for its own credit universe, but for the world's, underpinned by an expanding DCM universe of local and international issuers. With one of the most developed debt capital markets in the MENA region, Nasdaq Dubai's growth as a global listing venue is encouraging more international issuers to bring deals to the Middle East, especially from Asia: Chinese corporations are increasingly turning to Dubai, with over $22 billion in debt on the exchange at the end of 2024. Dubai's attractiveness as a listing destination is underscored by the fact that non-UAE fixed income issuers accounted for a full 45% of fixed income listings outstanding on the exchange in 2024. The UAE credit universe also had an active 2024, ranking as the third-largest dollar debt issuers from the emerging markets (excluding China). Last year saw the value of outstanding Sukuk listed across Nasdaq Dubai and DFM reach $97.8 billion. Sukuk issuance across all currencies rose 42% year-on-year to $4.71 billion in Q1 2025, accounting for 76% of all debt capital market activity on Nasdaq Dubai during the period. The paper also explores the development of market infrastructure, including its digitalisation, upon which DFM and Nasdaq Dubai operate to cater to local, regional and international market participants, across retail and institutional segments. Deghaili continued: 'At HSBC, we pride ourselves on being a bridge between international capital and the burgeoning opportunities in the UAE. Our deep-rooted presence in the region, combined with our global network, enables us to connect investors with the UAE's evolving investment landscape. As the region continues to open up and diversify, we're committed to facilitating these connections and supporting our clients' ambitions.' HSBC is the leading international bank in the UAE and has led on 65% of total IPO deal value in the UAE's financial markets between 2022 and 2025 year-to-date. During 2024, HSBC was a Joint Global Coordinator on two of DFM's three IPOs and broke new ground for the market with the inclusion of a stabilisation mechanism as part of Parkin's privatisation. HSBC is the leading DCM arranger for Dubai issuers right across the sector and ratings spectrum and is the only international bank to have led all debt capital market transactions from the Federal Government of the UAE. As part of its efforts to support structural innovation in the capital markets, in 2024 HSBC was Joint Lead Manager for the world's first Sustainability-linked Loan Financing Bond to fully adhere to the new International Capital Market Association (ICMA) and Loan Market Association (LMA) framework, for Emirates NBD Bank. To read the report, please click here. Media enquiries to: Ahmad Othman ahmadothman@ +971503069313 HSBC in the MENAT region HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$73bn as at 31 December 2024.
Zawya
28-04-2025
- Business
- Zawya
EWEC announces signing of Power Purchase Agreement for Shuweihat 1
EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing, supply, and system despatch services of water and electricity across the UAE, today announced the signing of a Power Purchase Agreement (PPA) for the Shuweihat 1 (S1) power project. In support of EWEC's strategic acceleration of Abu Dhabi and the UAE's energy transition, under the terms of the PPA, S1 will be reconfigured from a cogeneration power and water desalination facility to a power plant only, providing flexible reserve supply to support the increased integration of renewable and clean energy sources. Located in Al Dhafra region, approximately 250 kilometres from Abu Dhabi City, S1 has been in operation since 2005, under a 20-year Power and Water Purchase Agreement which was due to conclude in 2025. Abu Dhabi National Energy Company (TAQA) owns 60 percent of the plant, with ENGIE, a French multinational electric utility company, and Sumitomo, a leading Japanese integrated trading company, each holding 20 percent. The companies will also continue to take on the operations and maintenance (O&M) of the plant, with TAQA owning 30 per cent of the O&M company, while ENGIE and Sumitomo will own 35 per cent each. Under the new PPA, and in support of EWEC's decoupling of power and water supply, the water desalination, fuelled by natural gas, will be decommissioned. S1 will then be converted to a natural gas-fired open-cycle power plant only, providing up to 1.1 gigawatts of flexible reserve supply for 15 years, with commercial operations beginning from 2027. The reconfiguration and extension of S1 facilitates the UAE's transition towards net zero whilst also maintaining reliability during peak power demand periods. The flexible operation of the plant in support of increased renewable and clean energy sources also ensures minimal carbon emissions. Mohamed Al Marzooqi, Chief Asset Development & Management Officer of EWEC, said, 'The S1 extension project highlights our collaboration with international partners to enable continued investment in utility-scale assets that support EWEC's pivotal role in driving the UAE's energy transition to a more sustainable future. By strategically reconfiguring this power plant we are maximising the efficient use of existing infrastructure to deliver reliable, flexible power supply while reducing carbon emissions associated with the project. Utilising natural gas as a flexible transition fuel enables the accelerated integration of renewable and clean energy projects, such as solar and wind, into the energy mix, and preserves resources. Through these initiatives, EWEC is accelerating substantial reductions in the carbon intensity of our energy systems and reinforcing the UAE's leadership in sustainable energy innovation and resilience.' Andreas Collor, Chief Operations Officer, TAQA's Generation business, said, 'We are pleased to extend the operations of the S1 Independent Power Plant, a critical utility project in Abu Dhabi that will continue to provide flexible and reliable power supply to the grid. Flexible gas power generation plays a critical role in the energy mix as a more diverse mix of renewables and clean power sources is brought online. S1 will provide power as and when needed to support increased demand spikes and the integration of renewables as Abu Dhabi works towards accelerating the energy transition whilst ensuring a reliable supply of power.' Niko Cornelis, ENGIE's GCC Managing Director, said, 'ENGIE is proud to reaffirm our commitment to the UAE and its forward-looking approach to the energy transition. The S1 project marks a significant milestone in our historical presence in the UAE as it perfectly aligns with our Group's vision that flexible, low-carbon intense gas-powered assets are key to ensure grid security amidst the remarkable advance of renewable power generation. Through collaboration with our partners, we are leveraging innovation and expertise to drive the development of efficient and affordable low-carbon energy systems.' Jun Minase, Head of Overseas Energy Solution Strategic Business Unit, Sumitomo Corporation, said, 'We are deeply honoured to continuously be involved and play a pivotal role in the S1 extension project, which is expected to be crucial for the energy transition in the UAE, a country pursuing Net Zero by 2050."
