Softbank Group has hired former Deutsche Bank executive Faisal Rahman as the Middle East head of the business managing its $100 billion technology investment fund, as the firm looks at expanding interests across the region.
"The creation of the regional head role is an important first step in helping portfolio companies to expand their operations in the region and exploring collaboration opportunities with our strategic investors," Rajeev Misra, chief executive at Softbank Investment Advisers said in a statement.
“Faisal is a well-established industry veteran with a long track record in Saudi Arabia and the UAE. His transaction experience and track record in building a franchise across public and private sectors in the region will be hugely valuable," he added.
Softbank, founded by Japanese billionaire Masayoshi Son manages the Vision Fund, the world's largest technology-focused investment vehicle, which counts both Abu Dhabi's Mubadala Investment Company and one of Saudi Arabia's sovereign wealth fund among its biggest investors. In April, the fund inked an agreement with Saudi to build a $200bn solar power project - the largest in the world.
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The partnership forms part of existing co-operation between SoftBank's $100bn Vision Fund and Saudi Arabia, whose Public Investment Fund has committed up to $45bn to it.
Mr Rahman who had a nearly 18-year career with Deutsche Bank is tasked with "building local relationships to identify, explore and launch on-the-ground expansion and partnership opportunities," the company said. In his new role, Mr Rahman will engage with regional business leaders and miniseries in both the UAE and Saudi Arabia.
He is the latest former Deutsche banker to join the company managing the Vision Fund after Mr Misra and Colin Fan.
Softbank has been snapping up technology-based companies since the launch of its fund in 2016, including US tech firm Nvidia and Indian e-commerce website Flipkart.
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Result
Crystal Palace 0 Manchester City 2
Man City: Jesus (39), David Silva (41)
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
COMPANY%20PROFILE
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Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
The specs
Engine: 4.0-litre, twin-turbocharged V8
Transmission: nine-speed automatic
Power: 630bhp
Torque: 900Nm
Price: Dh810,000
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
