Hala,
🧪🚀 British scientists at Oxford have ‘achieved teleportation’ — but only for quantum data, not humans. They linked quantum processors using a supercomputer, making data jump faster than your Wi-Fi. So, no beaming up yet… unless you’re a spreadsheet.(1) 📊✨😂
amana’s Take
- Gold’s Got FOMO? Prices near $2,895.62 an ounce, riding last week’s 2.2% gain as investors scramble for safety amid fresh tariff turmoil. Steel and aluminum are getting slapped with 25% levies, but the real metal getting all the love? Gold.
- Fed Chair Jerome Powell’s upcoming testimony could be a buzzkill if the economy looks too strong, but for now, inflation fears and market chaos keep bullion in demand. No one wants to be caught short if things spiral.
- Beijing just topped up its gold stash for a third straight month, shrugging off sky-high prices. Diversification or a hedge against trade war blowback? Either way, the message is clear: gold isn’t going out of style.
Stock Market Update
📉🔻 Wall Street hit turbulence on Friday as U.S. President Donald Trump’s tariff talk and inflation jitters shook investors. The Dow fell 0.99% to 44,303.40, the S&P 500 declined 0.95% to 6,025.99, and the Nasdaq 100 shed 1.30% to 21,491.31. Meanwhile, Amazon slid 4% on a record-low growth forecast.(2) Volatility never takes a day off. ↘️⏰
📊🪢 Even Gulf markets played tug-of-war as tariff tensions heated up. Saudi climbed 0.3% to 12,469, while Qatar lost 0.3% to 10,584.(3) ⬆️⬇️
🌧️💼 It’s Raining IPOs in MENA!
Forget umbrellas, you might need an investment portfolio because it’s pouring IPOs in the MENA region! This week, Saudi Arabia’s Entaj and Oman’s Asyad Shipping are making it rain on the markets. Investors, get ready to catch some shares because these offerings are dropping like confetti at a financial fiesta. 🎊📈
🍗 Entaj IPO: Cluckin’ Up Some Big Numbers
Saudi poultry powerhouse Entaj(aka Arabian Company for Agricultural and Industrial Investment) has set its IPO price range between SAR 46 and SAR 50 per share, aiming to roost comfortably on Saudi’s Parallel Market (Nomu).(4)
The institutional book-building kicked off on February 9 and wraps up on the 13th. Entaj is offering 9 million shares, representing 30% of its juicy issued share capital. And with SNB Capital as the lead manager, bookrunner, and financial advisor, they’re in good wings… we mean, hands. 🐔💰
🚢 Asyad Shipping IPO: Anchoring in Oman
Next port of call: Asyad Shipping from Oman, the maritime maverick under the Oman Investment Authority. Asyad is setting sail with an IPO expected to reach up to $376 million (yep, you read that right).(5) They’re offering a 20% free-float, with the potential to crank it up to 23% — because why not? The official price range will be announced next week, and with heavyweights like EFG Hermes, JP Morgan, and Societe Generale steering the ship as joint global coordinators and bookrunners, it’s bound to make waves. Are you ready for the IPO shower? ☔🚀
Closer to Home
- 💰 UAE’s Dana Gas pumped out a 15% YoY profit jump to AED 143M ($39M) in Q4 2024, fueled by extra revenue and lower costs — plus, the gas giant is eyeing a dividend comeback.(6) Investors, stay tuned! 🤑
- 📃 Dubai Chambers and the U.S. Chamber of Commerce just inked a Memorandum of Understanding (MoU) to boost trade and business ties — because teamwork isn’t just for sports.(7) 🤝
- ⛲ Starting May 2025, Dubai Fountain takes a five-month intermission as Emaar gives its tech, choreography, and lighting a next-level glow-up.(8) Don’t worry — it’ll be back, better and more magical than ever! ✨
What Else Is Trending
- 🛍️ U.S. President Donald Trump’s trade playbook just got tougher — he’s gearing up to announce a 25% tariff on all steel and aluminum imports, with more reciprocal tariffs coming midweek.(9) Guess the tariff train isn’t slowing down. 🚂
- 🥵 Crypto felt the heat after U.S. President Trump dropped his steel and aluminum tariff plan, but Bitcoin shook it off — dipping to $94K before bouncing back over $97K.(10)Bitcoin’s got resilience coded in. 🛡️
- 🛒 Meanwhile, U.S. consumer sentiment tumbled to a seven-month low (67.8) in February, down from 71.1 in January, as inflation expectations surged to 4.3% — the highest since November 2023.(11) Turns out, tariffs are taxing confidence, too. 💰
💬Quote of the Day
“Rain is grace; rain is the sky descending to the earth; without rain, there would be no life.” — John Updike, American author
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Sources:(1) The Mirror, (2) (9) CNBC, (3) (11) Reuters, (4) (5) (6) (7) Zawya, (8) Gulf News, (10) Cointelegraph
