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

The Middle East Might be Changing; or are We?

Many were surprised when the Trump Mideast Peace team announced its so-called economic workshop would be held in Bahrain.

Bond yields soften on account of global trade tensions amid Fed rate cuts

Policymakers in their statement said they would "continue to monitor" incoming data and would act as needed to support the economy.

Banks to close Saturday marking Arafat day

Separately, the Central Bank of Kuwait announced yesterday the issuance of a total of KD 240 million ($792 million).

UAE billionaire warns of capital flight

Last week, the US global hotel data provider, STR, said that Dubai’s hotels’ occupancy had reached its lowest since 2009 during the second quarter of 2019.

RAKBANK partners with City Properties Real Estate to offer property management and monitoring services to business banking customers

The MOU will offer RAKBANK Business Banking customers property management and portal services on preferential terms

Ajman University, Noor Bank launch Noor Fund to promote Islamic banking, finance

Noor Fund for Educational Solidarity (Noor Fund) that provides, in perpetuity, an endowed professorship and four scholarships in Islamic Banking and Finance at the College of Business Administration of AU

Global sukuk issuances up 5.5% in 2018

The steady issuance volume is due to sovereign sukuk issuances from Asia, GCC countries and Africa

Rate cut to support credit growth across GCC

Lower interest rates and softer dollar to attract fund flows into the region

Loans get cheaper in UAE

The central banks in Saudi and Bahrain also followed Fed's decision, cutting their rates by the same margin.

UAE bourses join global sell-off as Fed turns a hawk

The US Fed cut its Fed fund rates by 25 basis points, calling it a mid-cycle adjustment

Kushner Promotes Peace Plan During Middle East Trip

Trump administration officials have suggested the still-secret proposal won’t guarantee full statehood for Palestinians

UAE, Saudi, Bahrain cut rates after Fed's signal

Kuwaiti central bank kept its key policy rate unchanged

Statement from Central Bank of the UAE

The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been decreased by 25 basis points

Financial package agreed for largest wind farm in Middle East

The $500m wind farm will have an installed capacity of 400MW, enough to power 70,000 homes.

As Fed cuts interest rates UAE and other GCC central banks follow suit

The banking regulators in Saudi Arabia and Bahrain also reduce benchmark interest rates

DIFC, Mashreq Bank and norbloc to launch the region's first production blockchain

This market-leading initiative will facilitate faster, more secure onboarding and exchange of supporting documentation via advanced distributed technologies, including blockchain.

Bahrain’s money supply increased by 9.2%

The regulator’s monthly statistical bulletin for last month indicates an overall improvement in monetary and banking indicators

Collapsed Buyout Firm Abraaj Fined Record $315 Million by Dubai

At the time AIML entered into provisional liquidation, because of the activities referred to above, two funds managed by AIML had a combined shortfall of at least USD 180 million.

Dubai Financial Services Authority fines two Abraaj companies Dh1.15 billion

The DFSA started an investigation in January 2018, which was across multiple jurisdictions

Dubai DIFC partners with Indian state of Maharashtra

The parties agreed to mutually support fintech start-ups based in their respective markets

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