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Zepto has postponed its IPO plans to 2026, shifting from its initial goal of filing this year. The company aims for breakeven EBITDA and positive operating cash flow by September 2025, amid intensifying competition in the quick commerce sector and a broader trend prioritizing profitability over growth in the Indian startup ecosystem. This strategic delay allows Zepto to strengthen its market position before entering public markets.
[Bloomberg]
Stride Ventures is expanding its presence in Saudi Arabia as venture debt gains traction in the GCC, with plans to double its local team and open a second office. The region's venture debt market has surged at a 54% CAGR, driven by initiatives like Vision 2030 and support from state-backed funds. With a commitment target of US$500 million over the next few years, Stride Ventures aims to support startups seeking non-dilutive financing, reflecting a shift in the Middle East towards becoming a hub for innovation financing.
Saudi Aramco has filed a prospectus for its sukuk issuance program following a $5 billion bond sale, indicating plans to tap the debt markets again. The prospectus, dated May 30, allows for sukuk issuance within a year as the company navigates economic uncertainty and declining profits. Major banks including Citi, HSBC, and JPMorgan are involved in the program.
Saudi Aramco has issued a new prospectus for its sukuk program, indicating plans to enter the debt markets again after raising $5 billion from a bond sale. The company is responding to economic challenges and declining profits, with expectations of a significant dividend cut this year. Meanwhile, Japan's tourism sector faces a decline in domestic travel, attributed to a shrinking population and rising costs, despite a record influx of international visitors.
Shinhan Financial Group Chair Jin Ok-dong engaged in high-level discussions with Goldman Sachs executives in Europe to enhance collaboration in wealth management and investment banking. The meetings, part of a weeklong investor relations tour, focused on strategies for cross-border asset management and sustainable profit models in the Korean market. Jin also outlined Shinhan's financial targets and explored growth opportunities in Poland's energy, infrastructure, and defense sectors.
BNP Paribas remains a market leader and is well-capitalized, though it experienced a 4.47% decline recently. In the weekly performance, Commerzbank led with a 2.52% increase, while Sberbank faced a significant drop of 67.53%. Year-to-date, Societe Generale saw the highest gain at 78.49%.
UBS has introduced AI-generated avatars of its equity analysts to present research insights to clients, replicating around thirty-six human analysts in lifelike video form. This innovative approach has shown comparable client engagement to traditional briefings, while maintaining a “human in the loop” strategy to ensure regulatory compliance. The initiative highlights the growing role of AI in finance, focusing on productivity and operational efficiencies.
Barclays has appointed Marc Warm, a former UBS banker, as Global Co-Head of Capital Markets, aiming to enhance its competitive stance against Wall Street firms. Based in New York, Warm joins Tom Johnson and Travis Barnes in a unique three-person co-management structure, focusing on expanding into debt capital markets and leveraged finance. Despite gaining market share in equity capital raising, Barclays still trails behind US competitors like JPMorgan and Goldman Sachs.
Barclays has appointed Marc Warm, a former UBS banker, as global co-head of its capital markets business, aiming to enhance its competitive edge against Wall Street firms. Based in New York, Warm joins Tom Johnson and Travis Barnes in a unique three-person co-head structure, focusing on expanding in corporate bond capital markets and leveraged finance. Despite gaining market share in areas like equity underwriting, Barclays still trails behind US rivals such as JPMorgan and Goldman Sachs.
The Goldman Sachs Group, Inc.
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