???? Next Stop: Riyad Capital IPO!

Hala,

???? Apple faces a $1.8B lawsuit in the UK for allegedly overcharging on its App Store.(1) Lawyers say it's a monopoly—Apple says, “Think different.” Maybe next, they'll charge 30% for apologies? ????

amana’s Take

• Bitcoin stumbled into 2025, briefly dipping below $90,000 before clawing back to flat for January. The culprit? Speculation over a Federal Reserve pause on rate cuts. Ether and other tokens also felt the pressure, as traders eyed US economic policy with growing caution.
• President-elect Trump’s tariff-and-immigration plans have markets bracing for inflation, keeping crypto on edge. Even his pro-crypto stance isn’t enough to offset rising Treasury yields. Bitcoin, down from its $108,316 peak, now sits at $94,800, with $87,500 as the next key level.
• Bitcoin ETFs saw $1.6 billion in outflows last week, showing even loyalists are hedging. As the market navigates uncertainty, Bitcoin’s record-breaking highs are now a memory in a volatile and unpredictable future.

Stock Market Update

???? U.S. stocks hit the coaster tracks on Monday, with traders ejecting tech titans like Nvidia and Palantir from the driver’s seat. The Dow revved up 0.86% to 42,297.12, the S&P 500 crawled 0.16% higher to 5,836.22, while the Nasdaq 100 slid 0.30% to 20,784.73.(2) Guess big tech’s thrill ride ran out of gas! ????

?????? Similarly, Gulf markets wobbled, rattled by strong U.S. jobs data fueling rate fears. Abu Dhabi dropped 0.4% to 9,459, and Dubai gained 0.1% to 5,233.(3) ????

?????Riyad Capital’s IPO Rollercoaster Gathers Speed!

Riyad Capital is ready to hit the IPO tracks, like a sleek bullet train cruising Saudi Arabia’s economic highway. ???? The investment banking arm of Riyad Bank, Saudi Arabia’s third-largest lender, is eyeing a $2.5 billion valuation, with shares expected to go public as early as mid-2025.(4) Backed by the powerhouse Public Investment Fund, Riyad Capital’s IPO could supercharge the kingdom's financial market, offering investors a first-class seat on the economic express. ????

?????Hot Stops on the IPO Track:

• IPO Timeline:?All aboard for mid-2025—details pending final approval.
• Valuation Target:?A cool $2.5 billion, because Riyad Capital doesn’t do coach class.
• IPO Advisor:?JPMorgan Chase & Co., the conductor of this financial train.
• Market Buzz:?Riyad Capital joins a bustling IPO pipeline featuring Derayah Financial ($2B valuation), Ejada Systems, Umm Al Qura, and Flynas.
• PIF’s Portfolio Power:?From medical procurement to port operations, the Public Investment Fund is rolling out IPOs faster than a high-speed commuter train. ????

?????Next Stop: Stock Market Stardom!

With Saudi Arabia’s IPO scene gathering steam, Riyad Capital is just one star in a galaxy of offerings lighting up the kingdom's financial sky. From cooling districts to online trading, the market’s pipeline is a bustling hub of activity. Investors are eyeing Riyad Capital’s IPO like passengers racing for the best seats—because when the train leaves the station, you don’t want to be left on the platform. ????

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Closer to Home?

• ?? After a stellar 2024 with 53 IPOs and $12.9B proceeds raised, the GCC is gearing up for 40 more in 2025, starring FIVE Hotels, Dubizzle, and potentially Etihad Airways.(5) Talk about keeping the momentum flying high! ??
• ??? According to the 2025 Global Consumer Outlook by AlixPartners, UAE consumer spending will soar 13% this year—the world’s highest—while global spending dives 12%.(6) The UAE seems to be on a spending spree! ??
• ?? Qatar National Bank flexed its financial muscles with a 10% jump in Q4 net profit to 4B riyals ($1.1B), slightly outpacing analyst forecasts.(7) The Gulf’s biggest lender by asset isn’t just big—it’s on a roll! ??

What Else Is Trending

• ?? The IMF is gearing up to forecast steady global growth and cooling inflation in its Jan. 17 outlook. IMF Managing Director Kristalina Georgieva spilled the tea—now we wait for the full scoop!(8) ??
• ?? Bitcoin took a dip below $90K on Monday, hitting $89,259.00 before recovering to $93,737.97.(9) Looks like crypto’s week started on a slippery slope! ??
• ??? Lastly, oil prices are on a hot streak, with Brent climbing 1.78% to $81.18—a four-month high—and WTI rising 3.29% to $79.09, thanks to tighter U.S. sanctions on Russian exports.(10) ?

??Quote of the Day

“If I'm going to do something, I do it spectacularly or I don't do it at all”. – Al-Waleed bin Talal, Saudi billionaire businessman

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amana.app

Sources:(1) The Wall Street Journal, (2) (9) (10) CNBC, (3) (7) Reuters, (4) Gulf News, (5) (6) Khaleej Times, (8) Economy Middle East