close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Shuaa Capital looking at potential acquisitions

Shuaa aiming to complete one or more deals by year-end; Firm to use 'strong balance sheet' to invest in growth; Broker revenue shrinking in home market

0

September 15, 2011 10:34 by



Dubai’s Shuaa Capital said on Thursday it is in talks with a number of target companies and that negotiations may result in one or more acquisitions, in an environment where brokerage fees continue to dwindle.

Shuaa is looking at at least two Egyptian brokerages, sources told Reuters a day earlier. Shuaa said in a statement it plans to use its “strong balance sheet and solid cash position” to invest in growth, and that the current economic environment gives it an unique opportunity to play a “major consolidator role in the region”.

“We want to try to close one or more deals by the end of the year, but there’s no guarantee that will actually happen,” a Shuaa spokesman said.

Shuaa, which took companies such as ports operator DP World to market, has looked at Egypt’s HC Securities and Beltone Financial, said two of the sources speaking on condition of anonymity.

Shuaa, one of the Gulf Arab region’s largest investment banks, was hit hard by the global financial downturn as impairments related to troubled assets erased profits.

It has been shedding risky assets from its investment portfolio after Dubai’s property crash and asset bubble.

Its core brokerage and investment banking business has suffered amid a slump in initial public offerings (IPOs) and foreign acquisitions would help alleviate plunging broker revenue at home.

Turnover on Dubai’s bourse is poised to slump to a seven-year low in 2011, with this year’s annual traded value likely to be less than a fifth of that of 2008.

Egypt’s benchmark index has fallen 37 percent in 2011 as foreign and local investors dumped shares following the end of former president Hosni Mubarak’s 30-year rule. (Reporting by Matt Smith; Editing by Reed Stevenson)



0

Tags: , , ,

Leave a Comment