Latest news with #middleeastern
Time of India
11-05-2025
- Business
- Time of India
Saudi oil giant Aramco's profits drop over 4% as oil prices fall
Saudi Arabia's oil giant, Aramco, has reported a 4.6% decline in its first-quarter profits, weighed down by falling global oil prices, which have pressurised the country's ambitious multi-trillion-dollar development plans. The company posted $26 billion in net profit for the quarter ending March against the $27.2 billion earned during the same period last year. However, the company's revenue stood at $108.1 billion, marginally higher than last year's $107.2 billion. 'Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices,' Aramco president and CEO Amin H Nasser said. Operation Sindoor Amid flare-up hours after thaw, officials say things will settle down with time Ceasefire on, but pressure stays: Key decisions by India against Pak that still stand 'Will work with India & Pakistan to seek solution on Kashmir': Trump The results were released in a stock exchange filing on Riyadh's Tadawul market on Sunday. Aramco's shares were trading above $6 on Thursday, down from about $8 last year, following a steady decline over the past year as oil prices have fallen. Only a small portion of Aramco is traded on the Tadawul stock exchange, while most of the company is owned by the Saudi government, which uses the profits to fund national spending and support the Al Saud royal family's wealth. Aramco, officially the Saudi Arabian Oil Co., is the world's sixth most valuable company with a market worth over $1.6 trillion and is regarded as a key player in shaping global oil market trends . The results come as OPEC+ plans to increase oil production by 411,000 barrels per day next month, as the middle eastern economy continues to be rippled by US tariffs uncertainties. Meanwhile, Crown Prince Mohammed bin Slaman, Saudi de facto ruler, has also planned to invest $500 billion to build Neom, a vast futuristic city in the desert along the Red Sea. The kingdom will also be requiring new infrastructure worth billions of dollars by 2034, as the country is set to host the World Cup. As a result, Saudi may be forced to tap into its reserves or take on new debt to fund these development plans. Oil markets have softened in recent months, with benchmark Brent crude trading just above $63 a barrel on Friday, a sharp fall from over $80 at its peak last year. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Web Release
29-04-2025
- Business
- Web Release
I Squared Capital Expands in Middle East with New Regional Platform and Riyadh Office
I Squared Capital, a leading global infrastructure investment manager, announced today a major expansion of its presence across the Gulf Cooperation Council (GCC) and the broader Middle East. The firm is building a dedicated regional investment platform to drive infrastructure investments and related activities, underscoring its long-term commitment to one of the world's most dynamic and strategically vital regions. This next phase of I Squared's regional strategy builds on the successful launch of its Abu Dhabi office in the Abu Dhabi Global Market (ADGM) and marks a significant step toward establishing a fully integrated GCC-wide platform. As part of this expansion, I Squared will open a new office in Riyadh in 2025, deepening its engagement with Saudi Arabia's Vision 2030. The Riyadh office will focus on opportunities in energy transition, digital innovation, infrastructure development, and the development of capital markets—key pillars of the Kingdom's transformation agenda. To support this expansion, I Squared is pleased to welcome Ali Mandour as Managing Director. Mr. Mandour brings extensive investment banking experience and was most recently at Evercore, where he led a broad range of strategic transactions across sectors in Europe and the Middle East. He joins a growing Middle East investment team based in Abu Dhabi, Riyadh, and Delhi. 'Scaling our platform across the GCC is a strategic priority for I Squared,' said Sadek Wahba, Chairman and Managing Partner of I Squared Capital. 'The region's strong fundamentals, bold national visions, and commitment to infrastructure modernization make it a natural fit for our model. We're not just investing—we're partnering to attract Foreign Direct Investment along with operational expertise to build smart, sustainable, and future-ready infrastructure.' Wahba emphasized I Squared's aim to support global capital investment into the Middle East, particularly from the Global South, across both core infrastructure and the development of capital markets that enable long-term financing for infrastructure assets. 'Whether it's scaling clean energy platforms, deploying digital infrastructure, or modernizing logistics, we believe our hands-on, tech-driven approach aligns perfectly with the region's ambitions,' added Harsh Agrawal, Senior Partner overseeing Asia and the Middle East. Mahmoud Mohieldin, Senior Policy Advisor at I Squared and a former Minister of Investment for Egypt and Executive Director at the IMF representing 12 middle eastern economies, reinforced the region's current momentum and promising potential: 'The Middle East is well poised for sustained economic growth in light of decisive reforms currently underway that place its countries on the path to a more resilient and inclusive economic future.'
National Post
29-04-2025
- Business
- National Post
I Squared Capital Expands in Middle East with New Regional Platform and Riyadh Office
Article content MIAMI — I Squared Capital, a leading global infrastructure investment manager, announced today a major expansion of its presence across the Gulf Cooperation Council (GCC) and the broader Middle East. The firm is building a dedicated regional investment platform to drive infrastructure investments and related activities, underscoring its long-term commitment to one of the world's most dynamic and strategically vital regions. Article content Article content This next phase of I Squared's regional strategy builds on the successful launch of its Abu Dhabi office in the Abu Dhabi Global Market (ADGM) and marks a significant step toward establishing a fully integrated GCC-wide platform. Article content As part of this expansion, I Squared will open a new office in Riyadh in 2025, deepening its engagement with Saudi Arabia's Vision 2030. The Riyadh office will focus on opportunities in energy transition, digital innovation, infrastructure development, and the development of capital markets—key pillars of the Kingdom's transformation agenda. Article content To support this expansion, I Squared is pleased to welcome Ali Mandour as Managing Director. Mr. Mandour brings extensive investment banking experience and was most recently at Evercore, where he led a broad range of strategic transactions across sectors in Europe and the Middle East. He joins a growing Middle East investment team based in Abu Dhabi, Riyadh, and Delhi. Article content 'Scaling our platform across the GCC is a strategic priority for I Squared,' said Sadek Wahba, Chairman and Managing Partner of I Squared Capital. 'The region's strong fundamentals, bold national visions, and commitment to infrastructure modernization make it a natural fit for our model. We're not just investing—we're partnering to attract Foreign Direct Investment along with operational expertise to build smart, sustainable, and future-ready infrastructure.' Article content Wahba emphasized I Squared's aim to support global capital investment into the Middle East, particularly from the Global South, across both core infrastructure and the development of capital markets that enable long-term financing for infrastructure assets. Article content 'Whether it's scaling clean energy platforms, deploying digital infrastructure, or modernizing logistics, we believe our hands-on, tech-driven approach aligns perfectly with the region's ambitions,' added Harsh Agrawal, Senior Partner overseeing Asia and the Middle East. Article content Mahmoud Mohieldin, Senior Policy Advisor at I Squared and a former Minister of Investment for Egypt and Executive Director at the IMF representing 12 middle eastern economies, reinforced the region's current momentum and promising potential: 'The Middle East is well poised for sustained economic growth in light of decisive reforms currently underway that place its countries on the path to a more resilient and inclusive economic future.' Article content About I Squared Article content I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at Article content This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to contact I Squared Capital or consult with the professional advisor of their choosing. There is no guarantee that the investment objectives will be achieved. Moreover, the past performance is not a guarantee or indicator of future results. Article content Article content Article content Article content Article content Article content
Business Wire
29-04-2025
- Business
- Business Wire
I Squared Capital Expands in Middle East with New Regional Platform and Riyadh Office
MIAMI--(BUSINESS WIRE)--I Squared Capital, a leading global infrastructure investment manager, announced today a major expansion of its presence across the Gulf Cooperation Council (GCC) and the broader Middle East. The firm is building a dedicated regional investment platform to drive infrastructure investments and related activities, underscoring its long-term commitment to one of the world's most dynamic and strategically vital regions. This next phase of I Squared's regional strategy builds on the successful launch of its Abu Dhabi office in the Abu Dhabi Global Market (ADGM) and marks a significant step toward establishing a fully integrated GCC-wide platform. As part of this expansion, I Squared will open a new office in Riyadh in 2025, deepening its engagement with Saudi Arabia's Vision 2030. The Riyadh office will focus on opportunities in energy transition, digital innovation, infrastructure development, and the development of capital markets—key pillars of the Kingdom's transformation agenda. To support this expansion, I Squared is pleased to welcome Ali Mandour as Managing Director. Mr. Mandour brings extensive investment banking experience and was most recently at Evercore, where he led a broad range of strategic transactions across sectors in Europe and the Middle East. He joins a growing Middle East investment team based in Abu Dhabi, Riyadh, and Delhi. 'Scaling our platform across the GCC is a strategic priority for I Squared,' said Sadek Wahba, Chairman and Managing Partner of I Squared Capital. 'The region's strong fundamentals, bold national visions, and commitment to infrastructure modernization make it a natural fit for our model. We're not just investing—we're partnering to attract Foreign Direct Investment along with operational expertise to build smart, sustainable, and future-ready infrastructure.' Wahba emphasized I Squared's aim to support global capital investment into the Middle East, particularly from the Global South, across both core infrastructure and the development of capital markets that enable long-term financing for infrastructure assets. 'Whether it's scaling clean energy platforms, deploying digital infrastructure, or modernizing logistics, we believe our hands-on, tech-driven approach aligns perfectly with the region's ambitions,' added Harsh Agrawal, Senior Partner overseeing Asia and the Middle East. Mahmoud Mohieldin, Senior Policy Advisor at I Squared and a former Minister of Investment for Egypt and Executive Director at the IMF representing 12 middle eastern economies, reinforced the region's current momentum and promising potential: 'The Middle East is well poised for sustained economic growth in light of decisive reforms currently underway that place its countries on the path to a more resilient and inclusive economic future.' About I Squared I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at Disclaimers This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to contact I Squared Capital or consult with the professional advisor of their choosing. There is no guarantee that the investment objectives will be achieved. Moreover, the past performance is not a guarantee or indicator of future results.
CBS News
17-04-2025
- Entertainment
- CBS News
San Francisco DJ fights stereotypes with music
The gatherings are called Habibi's House, which in Arabic means, my love. But truth be told, it's a house for everyone. DJ Habibeats, also known as Ibrahim Abu, Ali Is a Bay Area native spearheading a booming cultural movement by blending middle eastern sounds, with countless cultural mixes. Recently signed with Empire, the DJ and artist credits his San Francisco upbringing as the foundation for his creative path. "Growing up, I listened to everything. I was a big hip hop head, I was really big into Arabic music, because our parents are immigrants. And you know, that was a big part of our culture, and our community." And now, as a first generation Palestinian American, he is rallying the broad pan-Arab community to connect the sounds of the East with the diversity of the West. From Afrobeats, to Latin rhythms, there is no genre off the table for the eclectic DJ. "It's fun, it's cultural, it's high energy, and it's a big big mix of like, different types of genres and energies." Ibrahim says growing up in the U.S., in a post 9/11 era, he felt the pressure of negative stereotypes 1st hand. But he believes the newer generation is awakening to a broader understanding of the region. "I could just notice the shift. When I was a kid. Middle eastern culture and music and everything about that, was not cool. Or was not thought of as cool. I knew it was cool. But it wasn't thought of as cool maybe. And it wasn't thought of as something I think people that weren't from the culture wanted to engage with." But western culture was engaging, just behind the scenes. The influence middle eastern music has had on mainstream pop hits, from Jay Z's Big Pimpin, to Marc Anthony's Vivir La Vida, is vast. Now, as the DJ aims to unite diverse communities together through the universal language of music, he says the most meaningful part of the journey has been allowing, often misunderstood cultures, to feel included. "Most of all, what I feel from people, is a recognition of being seen, and a recognition of representation, and feeling not like they're the odd one out." Because at Habibi's house, the beat is all about, love.
