Demand for ESG bond funds is soaring: Some USD 54 bn was invested in ESG bond funds in the first five months of 2021, the Financial Times reports, citing figures from data provider Morningstar. This compares to the almost USD 68 bn invested in such funds across the whole of 2020. AUM rose 14% to USD 374 bn between January and May, and have tripled over the past three years. There “is a clear trend in favour of ESG growth, particularly in Europe,” said Jose Garcia-Zarate, associate director at Morningstar.

Aramco Chairman Yasir Al-Rumayyan is joining the board of Indian energy conglomerate Reliance Industries as an independent director, as Reliance prepares to sell 20% of its oil-to-chemicals business to the Saudi giant, Reliance Chairman Mukesh Ambani said, according to Bloomberg.

Other global financial news worth knowing:

• BuzzFeed to go public via a SPAC merger: Popular media platform BuzzFeed is honing in on an IPO through a merger with special-purpose acquisition company 890 5th Avenue Partners, the Wall Street Journal reports, citing people in the know. BuzzFeed CEO Jonah Peretti is this week due to announce an agreement with the SPAC, which owes its namesake to the headquarters of Avengers superheroes.
• Carrefour is planning on selling subsidiaries in Poland and Taiwan in the wake of a failed merger with Canada’s Alimentation Couche-Tard, French business magazine Challenges reports.

THE CLOSING BELL-

The EGX30 rose less than 0.1% on Thursday’s close on turnover of EGP 1.27 bn (0.9% above the 90-day average). Foreign investors were net sellers. The index is down 5.2% YTD.

In the green: Oriental Weavers (+9.2%), Ibnsina Pharma (+1.9%) and Fawry (+1.3%).

In the red: Orascom Investment Holding (-2.2%), Ezz Steel (-1.9%) and TMG Holding (-1.7%).