The Houthi militia... nine years of destruction and weakening of Yemen and the Yemenis
تاريخ النشر: 22nd, September 2023 GMT
On September 21, 2014, Yemen entered a devastating phase that turned the country into a humanitarian disaster, undermined the economy, tore apart the infrastructure, and collapsed the humanitarian protection systems: health, electricity, and education.
Nearly nine years of war and economic decline have weakened Yemen and the Yemenis, and taken a heavy toll on the lives, health, and economic prospects of the Yemeni people.
The United Nations Development Program estimates that about 377,000 people have lost their lives due to the direct and indirect effects of the conflict in Yemen, about two-thirds of those killed are children under the age of five.
Since 2019, the United Nations has cited Yemen as the world's worst humanitarian crisis, and it is estimated that half of the total number of those who lost their lives died from indirect causes such as lack of food, healthcare or infrastructure.
World Bank reports confirm that epilepsy in Yemen has caused a severe economic and humanitarian crisis, and estimates indicate that the real gross domestic product has fallen by almost half since the beginning of the conflict, although there will be a slight recovery in 2022.
Of Yemen's total population of about 34 million people, the June 2023 Capacity Assessment Project report confirms that 28 million people have been affected by the conflict, 23.4 million people are in need of assistance, 17 million people suffer from acute food insecurity, and millions of Yemenis have been displaced.
The World Bank says in its Humanitarian Needs Review, 2022, that infectious diseases are spreading widely, the country is facing a shortage of medicines, and is suffering from the disruption of basic health and education services and the destruction of infrastructure, including road networks.
The Houthi militia war wiped out the gains made as a result of losses in material and human capital, internal displacement, fragmentation of financial institutions, the flight of national capital and the migration of talent.
Economic reports confirm that the Houthi militia undermined development efforts and destroyed infrastructure, causing unemployment rates to increase and inflation to rise.
International reports and studies on Yemen indicate that if the war ends now, recovery will take decades, as the economy has been severely torn apart by a decade of war.
المصدر: نيوزيمن
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EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes’ third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region’s most dynamic sectors.
The company began trading today under the ticker 4019.
Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x.
Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، “We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC’s fundamentals but also in the resilience of Saudi Arabia’s capital markets and the strength of its macroeconomic outlook.”
SMC was founded in 1999 and is one of Riyadh’s leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh’s new urban hub. Once operational، the new facilities are expected to more than double the Company’s current capacity to approximately 1،276 beds and 770 outpatient clinics.
EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction.
EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.
شاهد / الصين تطور طائرة تجسس بحجم البعوضة .. ترصد دون ان تُرى او تُسمع!