Start-up funding dries up as GCC investor ecosystem adapts to pandemic

Some private equity players are also looking into venture capital space to participate in the tech play in the region The pandemic-hit GCC start-up funding ecosystem is in slowdown, with investors choosing more carefully where to place their bets in the wake of the market seeing a correction in valuation, according to experts and venture […]

AirAsia Group to raise up to $113 million via private placement

(Reuters) – AirAsia Group plans to undertake a private placement to raise up to 454.5 million ringgit ($113 million) to address immediate and near-term cash flow requirements, the Malaysian budget airline group said on Thursday. The struggling airline, which reported a fifth straight quarterly loss in November as the pandemic took its toll on travel, […]

World’s Top Cigar Producer Enjoys Boom Amid Covid Lockdowns

(Bloomberg) — Locked-down smokers around the world are proving to be a boon for the Dominican Republic’s cigar and tobacco industry. Already the world’s largest cigar producer, the Caribbean nation is on track to export a record $1 billion worth of tobacco products this year. That would represent a 6% jump over the $942 million […]

Oman Plans 2021 Borrowing as Oil Price, Virus Batter Economy

Oman’s government will finance most of its budget shortfall in 2021 by borrowing to plug a fiscal gap battered by a decline in oil prices and the coronavirus pandemic. The Persian Gulf state is looking into borrowing that will cover 73%, or 1.6 billion rials ($4.2 billion), of the country’s 2.2 billion-rial shortfall, with the […]