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

Saudi Arabia Posts $38.1B Budget Deficit In H1 2020

Saudi Arabia has raised $12 billion in international markets so far this year and has borrowed 41.1 billion riyals or about $10.96 billion in the domestic market.

Take a look inside this $33 million Dubai mansion that has two cinemas, infinity pools and is sold with a Ferrari and Rolls Royce

The home owned by Michael Adam Alibhai, is tastefully decorated with an enviable art collection.

Where Is All That Gold Being Stored?

A multitude of options, from burying in the backyard to posh steel-lined vaults.

What Dh1m can buy you on the UAE's property market

Buyers can get more for their money thanks to lower deposits, softening prices and smaller unit sizes, say industry experts

M&A benefits the Saudi banking sector

Some financial analysts have raised concerns about such pairings combinations

Global sukuk issuances up 18% to reach $145.70bn in 2019

Sovereign sukuk issuances from Asia, GCC, Africa and certain other jurisdictions helped buoy the number of issuances last year

MENA fund managers to increase Saudi investments with eye to recovery: Reuters poll

Half of the eight fund managers polled by Reuters said they would increase their allocations in Saudi Arabia, the Gulf's largest economy.

First Abu Dhabi Bank raises impairments to Dh1.06b

Mega-bank recorded 25% decline in net profit as impairments hit hard

Tom De Waele on Bain & Company's Middle East ambitions

The Belgian has also actively served prominent financial investor and private equity clients across Europe and the Middle East both on the deal-side and on a number of large post-acquisition value creation programs.

Abu Dhabi's ADCB to lay off 400 employees, sources say

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go.

GCC economic recovery to be slow and gradual in 2020-21

'A steadily rising oil prices are paramount to ensuring a sustainable recovery'

Really that Good, or that Bad? by Gary Dugan

The economic data has been good, but it is likely to be more mixed going forward.

Saudi financial services key to supporting economy, businesses: experts

The topic was discussed at a webinar hosted by Forbes Middle East in partnership with Oracle

Robust Finance Functions Key For Saudi Arabia’s Road To Recovery

Saudi Arabia started taking preventative measures as soon as COVID-19 hit China at the beginning of the year.

Saudi Arabia clarifies on income tax after finance minister's comment

This follows finance minister's comment kingdom isn't ruling out such a tax

NBE, Banque Misr support Egypt's Health Ministry by LE 60M to counter COVID-19

Okasha stressed that the bank’s contributions since the start of the crisis amounted to LE 750 million, which were directed for health purposes by providing the necessary equipment or preparing places for health isolation or supporting medical teams

Customer trust in UAE banks remains high, at 76%

And 82% of UAE consumers 'strongly agree' their bank is honest and trustworthy

GCC construction market estimated at $2.5 trillion by end of June

The quarter closed with $11.9 billion worth of new construction announcements with Saudi Arabia contributing 54 per cent and the UAE contributing 31 per cent to the total value of new project announcements.

QSE gains on buying interests in consumer goods, transport, real estate segments

Trade turnover and volumes were on the increase on the market, where the industrials and banking sectors together accounted for more than 53% of the total trading volume.

Qatar's business leaders, top bankers optimistic about reigniting economy

In Qatar, you see the life is coming back at a very rapid pace at the moment.

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