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

Saudi Arabia’s swift intervention in pandemic pays dividends: OBG report

A key focus of the report is the accelerated transition witnessed to digital banking and commerce, coming on the back of major reforms implemented under Vision 2030.

Philippines seeks Qatari expertise in Islamic finance

Plaza, in the previous forum, highlighted Peza’s 10-point programme, citing plans to build ‘eco-towns’, ‘eco-cities’, and new metropolitan areas in every region in the Philippines.

QNBFS to start liquidity provision service for QIB on July 23

Liquidity providers guarantee transactions at the best price and boost the volume of transactions in the order book.

EBRD backs Egypt’s largest local currency bond issuance

The Bank’s investment brings its total contribution to EGP 3 billion (€173 million) in NUCA’s EGP 20 billion bond programme.

Dubai International Financial Centre continues to accelerate growth in first half of 2020

DIFC also worked with galleries located within the Centre to provide virtual tours, bringing art to people’s homes during the pandemic.

Dubai authorities rejects the application of Nigerians applying for a tourist visa

Do you think the visa restrictions was due to the arrest of the Nigerian fraudster Hushpuppi?

Iran-China deal is ‘pragmatic’: CGTN

Iran and China plan to sign a 25-year comprehensive cooperation agreement.

Lebanon advisers to ‘work on compromise’ on financial plan

The IMF said the losses appeared to be about the right order of magnitude.

Siraj Holding completes deal for Al Hilal Bank's Islamic insurance business

Thomas Joe has been appointed CEO following appointment of new board members

Saudi Real Estate Refinance Co signs 3 billion riyals deal with pension agency

Among the goals of the Vision 2030 reform programme promoted by Crown Prince Mohammed bin Salman, the kingdom aims to increase home ownership to 70% by 2030.

Exclusive: Kuwait scrambles to boost coffers with up to $16 billion debt plan

Legislators have been requesting more visibility from the state about use of the funds and repayment mechanisms given the government's heavy reliance on oil income.

BNY Mellon Secures Custody Licence from Saudi Arabia’s CMA

BNY Mellon Saudi Financial Company has been authorised to conduct Custody activities in the securities business.

Kuwait banking sector to remain stable, strength depends on length of crisis - c.bank

Lack of progress on reforms to diversify away from oil would continue to expose Kuwait to oil price volatility

Turkish central bank to stay on hold amid inflation risks

We think the Central Bank of Turkey will signal a wait-and-see period at its forthcoming meeting, with no imminent rate changes in the near term due to rising risks on the inflation outlook and signs of economic recovery

Think tank skewers Dubai as hub for ‘dirty money’

UAE officials and regulators reportedly aware it is used as ‘conduit for illicit financial transactions’

UAE advice firm agrees second merger in a month

As business eyes European and Latin America expansion

CIAF cancels Sukuk issuance, considers alternative financing methods

It was forced to postpone and reconsider this step in light of the global pandemic and the international air traffic suspension.

Robust master plan urged for Qatar capital market with focus on long-term debt

"The long-term growth of Qatar’s domestic debt capital market should be a top priority in the master plan with a focus on driving corporate bond and sukuk issuance," the report said.

Bankruptcies among small and mid-sized businesses to peak, says IMF

More tax relief and interest rate subsidies can rectify a worsening situation

Abu Dhabi Securities Exchange sees rapid acceleration in access for foreign investors

In the first half of 2020, AED6.3 billion of additional stock became accessible for a new group of both local and international investors, creating further scope for increased trading and liquidity

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