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

Saudi Arabia triples taxes, cuts $26B in costs amid pandemic

The kingdom has also lost revenue from the suspension of Muslim pilgrimages to the holy cities of Mecca and Medina, which were closed to visitors due to the virus.

Abu Dhabi Global Market enhances its dispute resolution framework

The amendments to the ADGM founding law, issued alongside accompanying guidance were announced on 27 May 2020

EBRD loan to Turkey’s Akbank boosts lending to businesses

The new loan is part of the EBRD’s efforts to support Turkey and other countries where it invests to combat the economic impact of the virus and support recovery.

No acquisition by US-based bank: Emirates NBD Bank clarifies

Emirates NBD issued the statement in response to a recent news report speculating that BofA had bought 100 million shares

Turkish banks' short-term funding fix poses risks in COVID-19 aftermath

The Turkish central bank’s net foreign currency reserves dropped to $31.55 billion as of June 5 from $41 billion early this year, according to latest official data.

Barclays ‘lied’ over terms of 2008 investment by Qatar, court told

Businesswoman Amanda Staveley testifies in her lawsuit about deal that allowed bank to escape government bailout

Saudi central bank deploys blockchain technology to deposit money into local banks

The benefits of deploying blockchain in banking operations range from increased security to the ability to track and trace money.

Dubai to adopt new regulatory standards to relaunch exhibitions, conferences

'Roadmap' to be prepared to start on hosting mega-events in the city

UAE Central Bank expects economy to rebound from second half of 2020

Stimulus measures seen to weigh positively on key economic indicators

UAE Central Bank expects economic rebound in H2 2020

The CBUAE launched TESS in two phases, commencing on 14th of March.

Goldman Sachs sees $1,800 gold prices with potential for $2,000

The metal eventually turned sideways when so-called risk assets bounced, but with gold holding up due to U.S. dollar weakness and low long-term real interest rates, Goldman said in a report Tuesday.

Spotlight on ADGM: Structural Advantages and-Benefits for Investors

By structuring transactions using vehicles domiciled in the ADGM, enforceability of structures and transaction terms can be improved for private equity and venture capital investors.

EBRD and EU support start-up Abjjad in Jordan

The workshop and additional online sessions with a dedicated mentor helped Abjjad decrease the time and cost of operations as well as increase productivity and quality in the publication of Arabic digital books on their platform.

Lawyers' Lack of Authority Could Prove Costly

The Court of Appeal issued a judgment agreeing with the Claimant and, insofar as it related to the award of legal costs, partially nullified the final award.2

Why SAMA is enhancing Saudi banking sector liquidity

Total assets of the banking sector have increased by about 14 percent to SR2.7 trillion in the first quarter compared with a year earlier.

Tata Asset Management establishes regional office in DIFC

TAML is a specialised investment management firm part of the TATA Group

Central Bank of Bahrain launches key murabaha service

Sharia-compliant liquidity and borrowing tool launched

Al Baraka signs key financing accord

Tariq Kazim, general manager for business group at Al Baraka Islamic Bank, signed the agreement on behalf of the bank

Saudi Arabia Central Bank Leads The Way With Blockchain-Powered Transfer

While fintech is on the rise across the region, this new money transfer via blockchain by the central bank will no doubt shine the much-deserved spotlight on fintech in Saudi Arabia.

Financial guidelines from the Covid-19 pandemic

One must prioritise important expenses such as housing, education and emergency savings, over wants such as entertainment, eating out, or buying new gadgets.

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