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

Kuwaiti creditor refuses Abraaj deal, may prompt provisional liquidation: sources

The Middle East and Africa’s largest private equity firm has denied any wrongdoing.

Mashreq applies for Saudi banking licence

Mashreq Bank has applied for a banking licence in Saudi Arabia as it seeks to benefit from opportunities surrounding the kingdom's economic reform plans.

Law on commercial registry to be amended

The Ministry of Economy and Commerce had prepared the draft law within the context of facilitating requirements for investors and the business community.

Banking sector maintains strong liquidity despite a drop in deposits

Credit growth turns sluggish as private sector credit contracts

Russian bank VEB opens office in Abu Dhabi

The VEB representative office in Abu Dhabi will promote cooperation between the UAE and Russia in exports and investment, said the top official.

Iran: Gulf States Take Measures Against Illicit Financial Transactions

The GCC, composed of the United Arab Emirates (UAE), Saudi Arabia, Bahrain, Kuwait, Oman and Qatar, is also cracking down on Hezbollah – Iran’s number one proxy group.

Turkey, Iran help wealthy Qatar thrive, 1 year into blockade

Qatar has rejected the accusations and the demands, calling the blockade a politically motivated attempt to undermine its sovereignty

Citizenship for sale: how the rich shop for new passports

Citizenship-by-investment programmes offer the super-rich an opportunity to acquire a new nationality

Saudi conglomerate aided fraud against 100 banks, judge rules

The judge found that the alleged scheme was so complex that it couldn’t be unwound.

Emirates NBD signs Pioneers Waseet for clearing services

Emirates NBD has added several clients to its growing portfolio making it the market leader in providing clearing and settlement services

Court rules Saudi firm complicit in ponzi scheme ‘worse than Madoff’

Cayman Islands chief justice Anthony Smellie described the AHAB dispute as “one of the largest Ponzi schemes in history”

US firm said to walk away from Abraaj fund unit deal

Sources say Colony NorthStar Inc has ended talks to buy a majority stake in the fund-management unit of embattled Abraaj Group

Bahrain should consider corporate income tax: IMF

Bahrain was one of the hardest-hit Gulf economies after oil prices began falling in 2014, with authorities seen slower to react than countries such as Saudi Arabia.

Cayman’s longest court case: A ‘cauldron of fraud’

Cayman courts unravel Saudi family feud

Dubai Cancels Corporate Fines to Boost Business

The residential property market is slumping with prices down by 4.2 per cent from a year earlier in the Q1, according to a central bank report released on Tuesday.

Explained How the Saudi-led Blockade of Qatar Actually Made the Tiny Emirate Stronger

Saudi Crown Prince Mohammed Bin Salman led a blockade of Qatar in order to bend the tiny emirate to his will, but a year later Qatar is more defiant than ever

US Mounts Major Global Money-Laundering Campaign

It is uncertain how much of the new assertiveness can be traced to the US initiative.

OECD sees stronger world economy, but risks loom large

The pace of global expansion over the 2018-19 period is expected to hover near 4%, which is close to the long-term average.

Bahrain follows UAE with long-term investor visas

The visas are intended to boost Bahrain’s “position as an investment destination”, as foreign investors will be able to obtain a “10-year renewable residency permit on a self-sponsorship basis”.

Central Bank of Bahrain on the forefront of innovation

The CBB has taken the front seat in instigating a progressive payment infrastructure and continuously explores the realms of cutting-edge innovation.

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