CE-Invests, the strategic investment arm of Sharjah-based Crescent Enterprises, plans to deploy Dh1 billion ($272 million) in high-growth markets across India, South-East Asia and the Gulf to capitalise on opportunities in the regions with rising digital adoption.
The UAE conglomerate will over the next three years allocate the capital, as well as making direct investments, into four core sectors – consumer, health care, manufacturing and financial services, it said in a statement on Monday.
“We are expanding our capital allocation in high-growth sectors of the GCC, India and South-East Asia where demographic momentum, regulatory reform and rising digital adoption are unlocking new possibilities across industries," said Badr Jafar, chief executive of Crescent Enterprises.
"Amid evolving global market conditions, we see significant opportunity in these regions for patient, impact-driven, strategic investments to grow fiscally prudent, socially relevant and globally competitive businesses.”
The adoption of new technologies such as cloud, Internet of Things, artificial intelligence and the introduction of 5G, alongside a rise in internet penetration and a government focus on digital infrastructure and favourable regulatory policies are all factors that are driving digitisation in India, according to a by ICRA last year.
The credit rating agency projects that, in total, 5,100 to 5,200 megawatts of data centre capacity requiring investments of 1.6 trillion rupees ($19.27 billion) is likely to be added in the next five years.
CE-Invests is the strategic investment platform of Crescent Enterprises and focuses on mid-market growth companies and private equity funds. It typically seeks significant minority stakes, investing Dh75 million to Dh200 million per transaction, while supporting portfolio companies with operational guidance, governance and access to Crescent Enterprises’ global network.
In September, CE-Invests announced its participation in the $50 million series C funding round for Flipspaces, a tech-first interior design and build company for commercial spaces operating across India and the US. The move was aimed at strengthening global competitiveness of capital-efficient, technology-driven commercial design venture.
The company's latest move builds on Crescent Enterprises’ earlier exposure to the region through CE-Ventures, its venture capital platform active in India and South-East Asia since 2017. Over the years, CE-Ventures has invested in sectors, including FinTech, EnergyTech, FoodTech and Enterprise SaaS (software-as-a-service) companies.
Increasing allocations through CE-Invests, its growth-equity vehicle, strengthens the company’s strategy of supporting mid-market “champions” in the Gulf-Asia investment corridor, it said.
“Large, youthful populations with rising incomes and investor‑friendly policies make our target markets ideal for scaling businesses and compounding returns," said Ghada Abdelkader, senior vice president at CE‑Invests.
Established in 2007, Crescent Enterprises, a subsidiary of Crescent Group, comprises a diversified group of 57 subsidiaries, affiliates and investments across 19 countries and employs more than 1,600 people.
Its corporate structure comprises four platforms – CE‑Operates, CE‑Invests, CE‑Ventures and CE‑Creates – spanning various business sectors, including ports, logistics, food and beverages, health care and business aviation.
CE-Operates is the operating business platform of Crescent Enterprises, leveraging infrastructure investments as a catalyst for growth, according to the company's website.
And CE-Creates is the parent company's internal business incubation platform, which develops early-stage concepts into socially responsible, economically viable, and scalable businesses.
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
Results
2pm: Serve U – Maiden (TB) Dh60,000 (Dirt) 1,400m; Winner: Violent Justice, Pat Dobbs (jockey), Doug Watson (trainer)
2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili
3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson
3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer
4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar
4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly
Coal Black Mornings
Brett Anderson
Little Brown Book Group
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
Results
5pm: Wathba Stallions Cup Maiden (PA) Dh 70,000 (Dirt) 1,000m, Winner: Hazeem Al Raed, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Handicap (PA) Dh 85,000 (D) 1,000m, Winner: Ghazwan Al Khalediah, Hugo Lebouc, Helal Al Alawi
6pm: Maiden (PA) Dh 70,000 (D) 1,400m, Winner: Dinar Al Khalediah, Patrick Cosgrave, Helal Al Alawi.
6.30pm: Handicap (TB) Dh 70,000 (D) 1,600m, Winner: Faith And Fortune, Sandro Paiva, Ali Rashid Al Raihe.
7pm: Maiden (PA) Dh 70,000 (D) 1,600m, Winner: Only Smoke, Bernardo Pinheiro, Abdallah Al Hammadi.
7.30pm: Handicap (PA) Dh 70,000 (D) 1,600m, Winner: AF Ramz, Saif Al Balushi, Khalifa Al Neyadi.
8pm: Maiden (PA) Dh 70,000 (D) 2,000m, Winner: AF Mass, Tadhg O’Shea, Ernst Oertel.
Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
2019 ASIA CUP POTS
Pot 1
UAE, Iran, Australia, Japan, South Korea, Saudi Arabia
Pot 2
China, Syria, Uzbekistan, Iraq, Qatar, Thailand
Pot 3
Kyrgyzstan, Lebanon, Palestine, Oman, India, Vietnam
Pot 4
North Korea, Philippines, Bahrain, Jordan, Yemen, Turkmenistan
COMPANY%20PROFILE
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Top financial tips for graduates
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
