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Asia's first ETF tracking Saudi equities debuts in Hong Kong
  + stars: | 2023-11-29 | by ( Xie Yu | ) www.reuters.com   time to read: +3 min
Bull statues in front of screens showing Hong Kong stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 29 (Reuters) - A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF (2830.HK), is managed by Hong Kong-based CSOP Asset Management. "Today is a milestone in our financial cooperation with Saudi Arabia," said Hong Kong Financial Secretary Paul Chan at a launch event. Through the ETF, investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco (2222.SE) and the Saudi National Bank (1180.SE) in Hong Kong dollars or Chinese yuan.
Persons: Tyrone Siu, CSOP, Paul Chan, Yazeed, Humied, PIF, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Saudi, Saudi Arabia ETF, HK, Management, Public Investment Fund, Hong, Hong Kong Financial, FTSE, Saudi Aramco, Saudi National Bank, Reuters, Hong Kong Stock Exchange, bourse, ETF, People's Bank of China, Saudi Central Bank, Thomson Locations: Hong Kong, Exchange, China, HONG KONG, Asia, Saudi Arabia, Saudi, FTSE Saudi Arabia, Europe, East, Africa, Beijing, Riyadh
Global fundraising for alternative investments, which include private equity, dropped 21% to $972 billion in the year to Nov. 1 from the same period a year earlier, according to research firm Preqin. As their money becomes more vital, Gulf funds are encouraging private equity firms to invest locally in plans for a post-oil future. "Building a partnership based on reciprocity is nowadays necessary to succeed in the Gulf," said Francois Aissa-Touazi, co-global head of investor relations at private equity fund Ardian. Private equity funds are getting the message. In turn private equity funds can use these pools of capital to fund large private debt or equity transactions, according to Tikehau Capital's Deputy CEO, Frédéric Giovansili.
Persons: Amr Alfiky, Francois Aissa, Ardian, Touazi, Brookfield, Bruce Flatt, thronged, Flatt, Mohammed Al Jadaan, Anthony Diamandakis, Rishi Kapoor, Investcorp, Tikehau, Frédéric Organizations: United, United Arab Emirates, REUTERS, Rights, Global, Investment Initiative, Public Investment Fund, Brookfield, Tikehau, CVC, Reuters, Thomson Locations: Abu Dhabi, United Arab, Rights RIYADH, LONDON, Davos, Saudi, Saudi Arabia, Riyadh, Dubai, Brookfield, Bahrain
They have soared in popularity over the last year, in part from social media attention and billionaires like Elon Musk touting the drugs’ weight loss effects. Ozempic is not approved for weight loss, but doctors sometimes prescribe it off-label for that purpose. Harper took Ozempic off-label for weight loss from May until November (she paused while moving to Washington state but plans to start again). For Yazeed, weight loss was not the reason she went on Ozempic, nor was it a goal. He hasn't experienced side effects or weight loss from Ozempic, he said, but he recognizes that isn't true for everyone.
Cea de-a șaptea etapă a Raliului Dakar le-a dat multe bătăi de cap motocicliștilor! După acest incident, sportivul nu a rezistat și a izbucnit în lacrimi. Etapa a fost câștigată de deținătorul titlului, americanul Ricky Brabec. Sauditul Yazeed al Rajhi s-a impus la clasa auto, argentinianul Manuel Andujar a triumfat în categoria quads, iar rusul Dmitri Sotnikov a fost cel mai rapid în clasa camioane. Competiția se va încheia pe 15 ianuarie.
Persons: Ross Branch, Ricky Brabec, Jose Ignacio Cornejo, Howes, Manuel Andujar, Dmitri Sotnikov Locations: Dakar, Arabia Saudită
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