Business Point Today

 Abu Dhabi's holding company ADQ bought stakes in listed Egyptian companies across key sectors, from FinTech to logistics, to help bolster the country's economy. The move is part of ADQ's $20 billion joint strategic investment platform with the country, it said in a statement on Wednesday. The deals include investing in shares of Commercial International Bank, digital payments platform Fawry, logistics player Alexandria Container & Cargo Handling Company, Misr Fertilizers Production Company and Abu Qir Fertilizers & Chemical Industries, ADQ said. "The recent transactions are a testament to our long-term commitment to elevate our investment partnership with Egypt and continue deploying capital in projects of commercial importance," Mohamed Alsuwaidi, managing director and chief executive of ADQ, said. Earlier this month, Egypt’s Gulf allies pledged up to $22bn to help the country cope with the effects of the war in Ukraine. The North African country is also...

 The UAE's investment outlook looks positive as its policies to tackle the pandemic have infused confidence among investors, said Helal Al Marri, director general of Dubai’s Department of Economy and Tourism. The world looks relatively scary for an investor amid new strains of Covid-19, a war in Europe, recession and inflation but the UAE's actions in the past 50 years have instilled confidence, he said at the inaugural edition of Investopia Summit in Dubai on Monday. “The UAE’s resilience and [the] positive way in which it handles every challenge bring confidence to the world – not just from investors looking to set up their global headquarters here but also individual investors and talent looking to make the Emirates their home,” Mr Al Marri added. The role played by the government is important in a transforming landscape, the official said. “We don’t believe in protectionism and don’t have politics guide our decision making. Our economy is open and borderless, which makes in...