Hollywood has received another cash infusion from the Middle East, as Egypt-based Borak Holding has announced that it has given $550m to entertainment company Insomnia Media Group, reported Reuters. Under the deal, Insomnia, an independent television and film and talent services company, will retain majority ownership and use the money for acquisitions and additional film projects.

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The Abu Dhabi Securities Market is expecting the number of initial public offerings to rise in next two years as several privatised companies are likely to float their shares to general public, reported Khaleej Times. Tom Healy, Director-General of Abu Dhabi Securities Market said the new IPOs would not only increase number of listed companies in the exchange but will offer much more 'diversification.'

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The Kuwait Stock Exchange may buy a trading platform from a European exchange as part of plans to make the market more attractive to foreign investors, reported Reuters. The second-largest Arab bourse is looking at trading systems from Frankfurt bourse operator Deutsche Boerse, transatlantic firm NYSE Euronext and Nordic operator OMX.

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The Abu Dhabi Investment Authority has acquired a 4.9% stake in Citigroup, America's largest bank, for $7.5bn, reported Gulf News. Through this deal Abu Dhabi displaces Saudi Prince Alwaleed Bin Talal as Citi's largest shareholder. Currently, Alwaleed holds a 3.97% stake worth an estimated $6bn.

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U.S. stocks rose on Tuesday after Abu Dhabi's $7.5bn purchase of a stake in Citigroup Inc spurred a rebound in financial stocks. The Dow Jones was up 215.00 points, or 1.69%, to finish on 12,958. Meanwhile, the UK's FTSE 100 index dropped 39.8 points, or 0.6%, to finish on 6,140.

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