{"text":[[{"start":7.05,"text":"Temasek plans to open its first two offices in the Middle East next year as the Singapore sovereign investor expands its influence in the region."}],[{"start":15.75,"text":"The decision to add offices in Riyadh and Abu Dhabi is a sign that international investors and businesses continue to embrace the Gulf despite the turbulence in the region this year resulting from the Iran war."}],[{"start":28.65,"text":"Temasek — which invests $401bn on behalf of the Singapore government — said on Wednesday that it planned to expand in the Middle East and would offer office space to domestic companies in which it is a significant shareholder."}],[{"start":42.15,"text":"“The Middle East is an important part of Temasek’s global network,” said chief executive Dilhan Pillay. “The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive.”"}],[{"start":57.55,"text":"Finance hubs across the Gulf were rocked this spring at the beginning of the US-Israeli war in Iran, which led to retaliatory attacks from Tehran into the region. However, investors have begun making more commitments to the Middle East, predicting that business disruption as a result of the Iran war will only be temporary. "}],[{"start":76.69999999999999,"text":"Among those that have announced plans to open offices in the region are State Street and Partners Capital."}],[{"start":82.79999999999998,"text":"Temasek does not disclose how much of its portfolio is invested in the Middle East, but Europe, the Middle East and Africa combined account for 12 per cent of its exposure."}],[{"start":93.14999999999998,"text":"This year it teamed up with Global Infrastructure Partners, Abu Dhabi’s newest sovereign wealth fund L’imad and the Abu Dhabi National Oil Company to launch an infrastructure investment partnership focused on the Gulf and central Asia."}],[{"start":106.14999999999998,"text":"The new outposts, which are due to open in the first half of 2027, will take Temasek’s global network to 15 offices across 11 countries. The most recent to open was in Paris three years ago."}],[{"start":119.49999999999997,"text":"The FT reported last year that Temasek was increasingly encouraging its Singaporean portfolio companies to do more deals in the Middle East."}],[{"start":127.69999999999997,"text":"Temasek said some of its portfolio companies planned to use the new offices as their regional hubs. The company did not disclose the size of the new offices."}],[{"start":136.99999999999997,"text":"Seviora, Temasek’s fund management arm, opened its first Middle East presence last year in Abu Dhabi. This week Seviora announced it had signed a memorandum of understanding to launch a strategic partnership with First Abu Dhabi Bank."}],[{"start":159.19999999999996,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1790767357_3409.mp3"}