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

GCC banks’ profitability to decline by 20% this year: Moody’s

Strong capitalization will support solvency, cost management to remain in focus

Now What? by Gary Dugan

That said many an equity investor is taking a positive view of developments.

Could The UAE Replace Hong Kong As Asia’s Financial Center?

A large number of financial transactions to the mainland have been routed through Hong Kong.

$800bn plan to turn Riyadh into cultural hub for the Middle East

It’s a significant plan and the whole city is working to make sure this happens.

Gold Funds Underpin Pandemic Price Rally as Jewelers Vanish

The shift underscores the global push-and-pull for gold between western investors looking for a safe haven and traditional demand centers for physical gold in Asia.

UAE's 47 billionaires control $163bln wealth, says report

The number of billionaires worldwide rose 8.5% to 2,825 in 2019

Saudi Arabia can bridge budget gap through debt, says Citi Bank chief

Citi has been involved in some of the big bond issues Saudi Arabia has raised, including the record-breaking $12bn Saudi Aramco bond last year.

Pandemic prompts 'thousands of expats' to bid goodbye to Dubai

Oxford Economics has forecast the UAE risks losing up to 900,000 jobs due to the covid-19 pandemic and its strictly-enforced lockdowns.

Gulf economies to shrink by 7.6% this year, says IMF

He said oil-producing countries in other regions were likely to see even larger drops.

Egypt's Mansour Group tops list of Arab family businesses. Which are the rest?

The list included 10 companies more than a century old, and 13 companies formed between 75 and 100 years ago

COVID-19: UAE banking sector could see more job cuts this year

Cost pressures and digitization will cause shift in post-COVID hiring as well

Here is why the UAE will become the number one global fintech hub

2019 saw fintech deals and funding spread to emerging and frontier markets. South America, Africa, Australia, and Southeast Asia (SEA) all saw funding top annual highs.

Revealed: The UAE's most powerful business families

Forbes Middle East issues list of 100 Most Powerful family businesses in the region.

Global Business Barometer Improves

This put it ahead of other options such as direct fiscal stimulus to consumers and tax cuts.

Renewed activity observed across global residential markets: Savills

Once travel restrictions into Singapore are eased, Cheong expects ultra high-net-worth Chinese buyers to snap up properties in the city-state.

Founder of first Islamic bank Saeed Lootah dies at 97

The businessman founded Dubai Islamic Bank and co-founded S.S.Lootah Contracting Company with his brother Sultan

Turkish central bank unexpectedly halts easing cycle

Fallout from the pandemic brought Turkey’s economy to a near stand-still in the second quarter.

UAE banks set for more job cuts, profit decline

Many institutions brace for a steeper impact of COVID-19 on operations

Dubai remains among top global FDI destinations, gets $2.72bln in the first five months of 2020

The emirate received 135 foreign investment projects during the January-May period

Fitch affirms Qatar rating at AA-; outlook stable

The banking sector is an integral part of Qatar's economic model and the sovereign has an extensive record of supporting it.

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