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

Turkey's last-resort lending facility tapped, funding costs rise

It was the first time the facility was used since the central bank normalised its policy operations in June last year, just before a punishing currency crisis set in.

Central Bank of Oman issues bank resolution framework

The framework puts in place effective procedures to ensure that in the extreme event of any problems occurring at banks, the damage to the entire financial system is kept at the minimum.

Consumer loss barometer highlights disconnect in the event of a data breach: KPMG

Latest KPMG report reveals mismatch between consumer expectations and security executive priorities

Albayrak Says Turkey's First Recession in Decade May Be Over

He spoke after the government released statistics showing joblessness soaring, underscoring the economic challenges Turkey still faces.

Dubai regulator in talks with US SEC over Abraaj arrests

Abraaj founder Arif Naqvi and a former executive were arrested in the US last week

Dentons celebrates 50 years in the UAE

They discussed Dentons’ rich history and outlook, highlighting the firm’s growth here in the Emirates

Dubai Islamic Economy Development Centre signs agreement with Hong Kong Trade Development Council

Memorandum of understanding with the Hong Kong Trade Development Council to exchange knowledge, and best practices in Islamic economy

Maples Group Advises On Largest Tech Acquisition Deal In UAE

The transaction is the largest ever acquisition of a technology business in the United Arab Emirates

Kuwait CMA and CISI announce enhanced qualifications pathway for capital market practitioners

The Project mainly aims to elevate competence and professionalism, technical capacity, and legal knowledge of Registered Employment Positions incumbents at licensed persons.

Fraudulent bank employee fined Dhs612,000

The court imprisoned him for six months, ordered him to return the money and pay an equivalent fine.

The "Financial Sector Conference" to host sessions attended by 2000 financial and business leaders

Under the patronage of the Custodian of the Two Holy Mosques with the theme "Promising Financial Prospects"

AAOIFI honours Kuwait Finance House Group

This partnership comes in line with the bank’s strategy

Pinsent Masons is named Industrial & Chemicals M&A Legal Advisor of the Year

International law firm, Pinsent Masons, has been named ‘Industrial and Chemical M&A Legal Advisor of the Year’ at this year’s Mergermarket Middle East Awards.

Abu Dhabi Global Market Courts Issue Litigation Funding Rules

These Rules are yet another example of how we respond to the expectations of business and the community as the highly regarded courts of a successful and dynamic international financial centre.

Abu Dhabi Global Market enacts enhanced anti-money laundering regime

The enhancements follow a period of public consultation, where the proposed enhancements received supportive public feedback.

Sunbed boss ‘linked to £8bn fraud that helped bin Laden’

The alleged kingpin fled Scotland. His trail can be followed to Pakistan, so why is he not on the taxman’s ‘most wanted’ list?

UAE and Korea renew 2013 swap agreement

A cross currency swap allows two countries to exchange payments in one currency for an equivalent amount in the other to facilitate trade transactions and offer liquidity support to financial markets.

Expats warned about breaching tax allowance

People working for oil and gas companies could be the most at risk, Mr Ball warned.

World has confidence in Egypt's economy, Inflation fell to less than 10%.: CBE Governor

The CBE governor said that Egypt is adopting liberal policies in light of the country's aim to boost economic growth via depending on various funding sources and not only the domestic savings.

Invest Bank shareholders approve Sharjah's majority stake - sources

The sources, including shareholders attending the meeting in Sharjah, declined to be identified.

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