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

JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021

Governments have been tapping debt markets to shore up finances battered by a slump in oil prices and as lockdowns to curb Covid-19 weigh on their economies.

The 10 richest people in the Middle East, ranked

The Middle East, a region that encompasses many countries, including Turkey, Iraq, Iran, Israel, Egypt, Saudi Arabia, and Qatar, is known for its oil-derived wealth.

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

One source said the bank was looking to close 20 branches.

Policymakers still Needed

Developed market equities returned 4.7% underperforming emerging markets which were up 8.4% led by that strong performance from China.

Momentum Builds for ESG Investment Among Global Public Investors, According To OMFIF-BNY Mellon Survey

The findings, also published in OMFIF’s latest Global Public Investor Report

Advisory City: An ecosystem for consulting firms in Sharjah

Common barriers to entry include special tax benefits to existing firms, strong brand identity or customer loyalty, and high customer switching costs.

Kuwait can become an important destination for foreign investments - UN

Al-Sheikh said: "The State of Kuwait is highly dependent on energy and oil resources for its economic income, as approximately 91 percent of the total state income for the year 2018 is generated from oil exports only

Gulf banks are weathering the pandemic storm — for now

As the banker to the Dubai establishment, that would bode ill for the emirate’s financial system and awake fears that it could be facing the kind of crisis that hit in 2009 at the height of the global financial crisis.

Oman Insurance completes 100% acquisition of subsidiary Dubai Starr Sigorta

OIC had bought 51% stake in the company in 2012

Allfunds strengthens its social commitment and joins the United Nations Global Compact

Allfunds strengthens its commitment to Corporate Social Responsibility and joins the United Nations Global Compact, the world's largest corporate sustainability initiative.

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.

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