Strongest quarter in two years for Middle East M&A



There was a revival in Middle East mergers and acquisitions business in the second quarter of this year, but overall the investment banking industry in the region remains under pressure from a lack of activity in the financial markets.

This was the picture that emerged from an analysis of the investment banking sector by Thomson Reuters, the global information group.

Regional mergers and acquisitions (M&A) activity reached US$8.5 billion (Dh31.21bn) in the second quarter, 45 per cent up on the first, marking the strongest quarter in M&A since 2010. But fees from M&A were 19 per cent down compared with the first half of last year.

"Investment banking has seen strong activity across Middle Eastern markets during the second quarter of 2012," said Russell Haworth, the managing director for the Middle East and North Africa at Thomson Reuters. "This is clearly evident by the strong M&A activity during the second quarter, which took the total value of M&A to $14.3bn by the first half of 2012, an increase of 137 per cent over the same period in 2011."

Equity capital market (ECM) issuance, the industry term for selling new shares or derivatives of shares, reached $4bn in the period April to June, nearly four times the value of the first three months. But nearly half this amount was made up by one transaction, a $1.9bn issue by the Qatari company Qtel.

Total ECM activity in the first half of the year was 40 per cent down on the same period of 2011.

Bolstered by the Qtel deal, telecommunications was the most active sector in the region during the first half, followed by the financial sector.

Qatar National Bank, the sole bookrunner for Qtel, topped the rankings for ECM business.

Deutsche Bank topped the regional rankings for fees from the booming debt capital markets, while HSBC led the M&A fee rankings.

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Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)

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Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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Favourite place in UAE: Al Rams pearling village

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Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Name: Atheja Ali Busaibah

Date of birth: 15 November, 1951

Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”

Hobbies: Reading and writing poetry

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Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

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Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Heather, the Totality
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Ms Yang's top tips for parents new to the UAE
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