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

Abraaj investor Patrick Chalhoub cautions against over regulation after fund's collapse

The Dubai businessman, who invested in Abraaj's Fund 4, says there is need for better corporate governance

Egypt's former president Morsi dies in court after heart attack

The former president died aged 67

Man demands compensation from UAE bank

The bank had refused to encash a Dh10 million cheque he had issued.

Fraudster behind $50m Bitcoin scam that duped UAE investors admits crimes

Haddow's other business scams include a milk line, glow in the dark plastics, a hotel ownership plan and even an attempt to buy the world's oldest newspaper, UK-based The Observer.

When corruption strikes Dubai

Many local leaders, notably Sheikh Mohammed Bin Rashid of Dubai, have gone out of their way to welcome global investors into their country, enriching all sides and diversifying the UAE’s economy beyond oil.

Three Abraaj Executives Charged in U.S. Fraud Investigation

Former CFO, two ex-managing directors face new U.S. charges

How Lebanon Will Dodge Its Looming Debt Crisis

The biggest problem of all those is the debt, which has been caused by massive overspending by the government.

UAE Convicts Alleged 1MDB Co-Conspirators: Report

The pair must also jointly pay €300 million, half of which will go to IPIC, which is referred to in court documents as the “victim company,” the WSJ said.

Egypt's parliament considering banking system draft law

The official said May 21 this step aims to support lenders’ capital bases in the face of potential risks and enhance their ability to compete with other banks regionally and internationally.

UAE enhances cooperation with Cyprus and Belgium

During the meeting, Obaid Al Tayer highlighted the advanced investment and legislative environment of the UAE and its advanced infrastructure as well as macroeconomic stability.

Al Baraka Banking Group & Eazy financial Services inks MoU

EazyNet biometric payment services will provide ABG’s customers a safe, more convenient and more secure way to conduct all banking transactions and purchases through ATMs and point of sale.

Cabinet restructures Emirates Development Bank board

The EDB was established to contribute to the economic and social development of the UAE as a key partner in providing financial services for development.

UAE, Hong Kong sign agreement on the mutual promotion and protection of investments

The agreement was signed by H.E. Younis Al Khoori, Undersecretary of MoF and H.E. Dr. Bernard Chan, Undersecretary for Commerce and Economic Development, Hong Kong, in the presence of officials from both sides

UK Trying to Settle £1.25b Claim by Bank Mellat

Bank Mellat is 80% privately owned, with the Iranian government holding a 20% stake.

Turkish central bank holds rates, shifts its focus to ‘disinflation’

The central bank hiked its benchmark one-week repo rate by 11.25 percentage points last year, last raising it in September to support the lira in the face of a currency crisis that has tipped the economy into recession.

How Lebanon Will Dodge Its Looming Debt Crisis

The country has a fiscal deficit, which measures the amount the government spends more than its revenues, of 11% of GDP in 2018 up from 8.6% the prior year, according to TradingEconomics.

Saudi Arabia issues 390,000 work visas during first quarter

Saudi Arabia has issued over 390,000 work visas in the first quarter of the year according to the figures released by the General Authority for Statistics.

Ex-Emirati Chairman, Expat CEO Sentenced to 15 and 10 Years in Jail Respectively

They abused their public office and misappropriated funds

Insurance premiums in Bahrain grow 6% in 2018

Government investments in infrastructure projects have also provided new underwriting opportunities for further growth: official

DIFC rolls out ‘crucial’ insolvency law in cross-border move

New regime based on international standards to ensure business and investor confidence in the region

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