👋 Good morning, Smashi Business Readers!

• Today’s top stories bring exciting updates on global and regional financial developments! Dive into Rothschild’s expansion in Dubai, Andalusian Private Capital’s move to the UAE, and Egypt’s Qara gearing up for KSA growth. 📰

Read on for more insights and details! 👇️ 

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🌍 Rothschild Expands in Dubai for Wealth Boom

📰 What is it about?

• Rothschild & Co has opened a wealth management office in Dubai, targeting ultra-high-net-worth individuals, family offices, and entrepreneurs in the region.

💡 Why it matters?

• Dubai’s position as a global financial hub continues to attract major players, enhancing its reputation and economic prospects. Rothschild joins other giants like JPMorgan and UBS in leveraging the city’s booming market.

🔜 What’s next?

• The new office plans to expand its team, reflecting a growing demand for wealth management services in the Middle East.

📈 Markets

💼 Andalusian Private Capital Eyes UAE Growth

📰 What is it about?

• Andalusian Private Capital is establishing its first global office in the UAE by early 2025, backed by billionaire David Tepper.

💡 Why it matters?

• The UAE’s evolving private credit ecosystem and robust liquidity pool are drawing international firms, further cementing the nation’s role as a key financial hub.

🔜 What’s next?

• The firm is deciding between Abu Dhabi and Dubai for its base and is in talks with local investors for long-term partnerships in sectors like sports media and financial services.

💭Quote of the day
“When you change your thoughts, remember to also change your world.” —Norman Vincent Peale

🚀 Egypt’s Qara Raises $2.6M for Saudi Expansion

📰 What is it about?

• Egyptian supply chain tech startup Qara secured $2.6 million to enhance its footprint in Saudi Arabia, supported by the NTDP Relocate Initiative.

💡 Why it matters?

• Qara’s AI-driven platform addresses global challenges in product authenticity and supply chain traceability, aligning with Saudi Vision 2030’s focus on innovation.

🔜 What’s next?

• Qara aims to revolutionize B2B2C distribution, expand regional partnerships, and accelerate the development of cutting-edge supply chain solutions.

🔍In other news…

1. Steven Bartlett concludes his Asia tour in Riyadh, after stops in Sharjah and Kuwait.

2. Dubai rents and property prices are rising again!

3. UAE-Based BuyAnyCar Surpasses 50,000 Users in 24 Hours, Says Founder Saygin Yalcin

4. EdfaPay, Saudi Arabia's Emerging Fintech Platform, Raises $5 Million in Pre-Series A Investment Round for Palestinian youth.

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