Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

GCC banks show strong appetite for regional expansion: Fitch

The GCC is a political and economic alliance that includes Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, Oman and Bahrain.

Egypt: Banks, financing companies inject $1.45bln into low-income housing initiative by June 2024

The Central Bank of Egypt launched the mortgage finance initiative in February 2014, offering subsidized declining interest rates ranging from 5% to 7% for low and middle-income groups

McKinsey: GCC banks outperform their global counterparts

All GCC exchange rates are either directly or indirectly pegged to the US dollar, and regional interest rates thus closely track movements in US rates.

Top stocks in Q2 2024: UAE retail investors choose AI over Big Tech

Amongst the most held stocks, Q2 saw a significant shift in the rankings, with NVIDIA rising to become the second-most popular stock on the eToro platform, behind only Tesla

Saudi Arabia’s big three banks continue their rankings ascent

Saudi Alawwal Bank tops performance table

Dubai's high-end property sales undented by drop in listings, consultancy says

A total of 190 homes worth an overall $3.2 billion were sold in the six months

Qatar Central Bank foreign reserves surge 3.88% in June 2024

Balances with foreign banks declined by nearly QR 3.633 billion

Fitch affirms Commercial Bank’s rating at ‘A’ with stable outlook

The rating reflects potential support from the Qatari authorities as reflected in its Government Support Rating of ‘a’.

CEOs Consultative Council of UAE Banks Federation holds second meeting of 2024

Participants at the meeting reviewed the steps taken by the Federation in the first half of the year to implement its strategy, plans and programmes, as well as the significant achievements made during this period to keep pace with the rapid developments

The top 10 nationalities buying property in Dubai in H1 2024

The British and Indians take the lead

H1 2024: M&As in EMEA plunge 31% due to economic challenges, geopolitical headwinds

The EMEA region saw eight megadeals in the first half of 2024, with a total deal value of $231bln

Markaz report highlights opportunities and challenges in GCC asset management

Capital market reforms, uptick in IPO momentum and widening product range augur well for asset management in the GCC

Knight Frank: Saudi Arabia’s construction awards hit $142bln

Construction output value for the residential, institutional, infrastructure, industrial, energy & utilities and commercial sectors reaches US$ 141.5bn

Middle East unrest and its influence on markets

Henrietta Walker, Head of Investment Specialists, discusses the ramifications of the recent market volatility and how that informs our asset allocation views.

Mercer’s 2024 Cost of Living City Ranking: How expensive is Dubai?

The ranking highlights how cities around the world fare in terms of living expenses for expatriates

50% more salary, extra day off: Rules for UAE employees to know if working this Eid Al Adha

KT reader asks if there are any exceptions to these entitlements

Global growth to stabilize at 2.6% in 2024: World Bank

The analysis warns that safeguarding trade, supporting green and digital transitions, delivering debt relief, as well as improving food security, are all needed to help deliver robust growth.

Some UAE firms plan to freeze hiring in coming months; here's why

Recruitment delays could result in a rush for skilled talent in late 2024 and into 2025, says report

63% of UAE businesses to hire more employees in the next 12 months

Business leaders’ confidence is being driven by increased demand for products and services

Personal Finance in the Digital Age: Harnessing Technology for Budgeting, Investing, and Wealth Management

This new era of personal finance promises to put control firmly in the hands of the individual, empowering them to take charge of their financial lives like never before.

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