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

Banks need to focus on sustainability, ESG amid COVID-19 - study

One of the top opportunities that ESG practices can provide financial services is the fund industry

ANALYSIS-Turkish coronavirus slump could prompt private bank retreat

Turkey adopted an asset ratio rule in response to the pandemic forcing private banks to lend more and buy more government bonds, while its sovereign wealth fund injected 21 billion lira ($3 billion) into state banks.

Dubai is building a city just for online shopping

Much like other free zones operating in the emirate, the ‘Dubai Commercity’ will offer benefits such as no corporate tax, no income tax, 100 percent foreign ownership, full repatriation of capital and profit, and no currency restrictions.

Covid-19 job losses will be replaced as entrepreneurs emerge, says Shehab Gargash

Many jobs and new industries will be created as part of a new post Covid-19 economy in the UAE, according to Gargash Group MD and CEO Shehab Gargash

Fitch revises Burgan Bank Turkey's outlook to negative

The lender’s LTFC IDR has been affirmed at 'B+'

Qatar Petroleum achieves many milestones in H1 of 2020

Under the agreement, Qatar Terminal Limited (QTL) - a QP subsidiary - will subscribe to the equivalent of almost 3mn tonnes per annum of the terminal’s throughput capacity for a term up to 2035.

Businesses thrilled to resume work in UAE

Safety precautions will be of prime importance as the businesses resume activities

UAE markets open higher as trading resumes post-Eid

Sentiment eases as Dubai economy reopens, but indices pull back early gains

Building the foundation for a strong fintech ecosystem in Saudi Arabia

The FSDP will achieve this ambition by enabling financial institutions to support private sector growth, ensuring the formation of an advanced capital market, and promoting and enabling financial planning, without impeding the strategic objectives intende

How COVID-19 cyber-attacks are placing organisations at increased risk

Security professionals across the Middle East must educate employees about the rise in coronavirus-related cybercrime and how to avoid placing their organisation at risk, says Werno Gevers, cybersecurity specialist, Mimecast.

Why the PIF’s latest investments support Saudi Arabia’s strategic goals

Until March 31 the PIF announced investments worth between $7 and $8bln

FinTech set to grow in the Gulf during global COVID-19 pandemic: study

As well as staying at home, social distancing also applies to publicly shared devices, like point of sale terminals and checkout counters.

Re-Opening with Hope

Economic data is getting better at least to the extent that the surprises are no longer as bad as they were.

Age of extinction: the race to save the planet

Human activity is threatening the delicate balance between the climate and biosphere.

Dubai's small businesses prep for tough Q2-20, with many expecting steep sales decline

Those in travel, real estate, hospitality to feel maximum impact, Dubai Chamber poll finds

Saudi Arabia: VAT rate to increase to 15% as of 1 July 2020

The recent VAT relief measure that allows taxpayers to voluntarily disclose historic omissions and errors without incurring penalties should be considered and any relief sought prior to the disclosure deadline of 30 June 2020.

EBRD and EU support small business Blessing in Lebanon

The company’s name was inspired the birth of Rana’s son

Fiscal Nightmare Ties Up Kuwait’s Stimulus With 40% Deficit

Kuwait’s extreme dependence on oil is to blame, with hydrocarbon sales accounting for an estimated 90% of total government income.

Kuwait among emerging markets but some negativity seen

This classification was based on the aggregation of a number of data, including growth forecasts for the current year, as the country is likely to witness a contraction of 1.1%

Don’t allow mismanagement to disrupt rebuilding

This will have obvious implications on how the economies can manage the crisis on the one hand

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