Arqaam Capital may expand in South East Asia and Africa in the coming year as demand for emerging-market assets spurs revenue.
"Global institutions of developed markets are currently retrenching from their frontier and emerging-market bases, increasing the opportunity that we have in front of us today," Arqaam chief executive Riad Meliti said. Arqaam is exploring both acquisitions and "organic" growth, he said.
Arqaam is among Arabian Gulf investment banks that are hiring after Europe's debt crisis led banks including Credit Suisse, Nomura Holdings and Morgan Stanley to trim their regional presence. Trading value in emerging-market shares has risen in 2013 as economic growth that's more than six times higher than developed nations spurs corporate earnings.
The company, which expects to this year "significantly" increase assets under management from US$175 million, has boosted staff 28-fold to 110 since it started operations five years ago, Mr Meliti said. Arqaam will add headcount in Dubai, Cairo, Tripoli and Beirut, after posting a compounded annual growth rate of 35 per cent since inception, a level of momentum it expects to sustain, he said.
"Our macro vision is global in terms of what's happening with the shift in focus from developed to emerging and frontier," Mr Meliti said. "Anything in between is just turbulence, because we know the trajectory in the long term."
A number of Gulf banks have pursued acquisitions in the North Africa in the past year to gain access to more- populous nations such as Egypt as the countries undergo a political transition following so-called Arab Spring uprisings. Arqaam bought El Rashad Securities Brokerage in Cairo in January last year, just as momentum was building on the benchmark EGX 30 Index, whose 2012 rally of 51 per cent was the world's second-biggest among 93 gauges tracked by Bloomberg.
"It was a critical market for us to have a presence on the ground in to produce research and add value to regional and international clientele to invest in the market," Mr Meliti said.
Nine months later, it announced the acquisition of Al Rashad Finance and Management Advisory in Libya, where market access will accelerate as the nation pursues a democratic transition, according to Mr Meliti.
* Bloomberg News
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
Sri Lanka's T20I squad
Thisara Perera (captain), Dilshan Munaweera, Danushka Gunathilaka, Sadeera Samarawickrama, Ashan Priyanjan, Mahela Udawatte, Dasun Shanaka, Sachith Pathirana, Vikum Sanjaya, Lahiru Gamage, Seekkuge Prasanna, Vishwa Fernando, Isuru Udana, Jeffrey Vandersay and Chathuranga de Silva.
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
MATCH INFO
Northern Warriors 92-1 (10 ovs)
Russell 37 no, Billings 35 no
Team Abu Dhabi 93-4 (8.3 ovs)
Wright 48, Moeen 30, Green 2-22
Team Abu Dhabi win by six wickets
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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Our Time Has Come
Alyssa Ayres, Oxford University Press
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
Mubalada World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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