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

Banks’ profits score EGP 45.843bn at end of June 2018

Top five banks account for 61.34% of profits, against 72.87% for 10 banks, says CBE

5% VAT 'a starting point' for GCC, says banking chief

The 10th MENA CFO conference heard that VAT violators are being censured, with 3,000 offences recorded in Saudi Arabia in the first two months of 2018

Saudi Wealth Fund to Invest $1 Billion in Tesla's Rival Lucid

Funding will enable EV maker to roll out Air sedan in 2020

Dubai Financial Market accredits SICO as market maker and liquidity provider

Najla Al Shirawi: "We look forward to assist listed companies to improve valuations and attract fresh capital, which will further enhance the confidence of regional and international investors"

Switzerland seeks bank access to Israeli markets

Israeli authorities focus on EU regulations but the EU doesn’t fully recognise our rules and regulations for political reasons.

Arrests Spark Selloff in Egypt, Pacing Mideast Losses

In Dubai, the equities gauge fell to the lowest level since January 2016 after breaching a resistance level.

U.A.E. to Offer Expats Long-Term Residency Visa After Retirement

If implemented, measures could encourage expats to stay on

Saudi Arabia to auction detained tycoon’s real estate assets -sources

Maan al-Sanea once ranked on Forbes’s 100 rich list

Dubai DIFC wills service centre offers options to pass on the assets to heirs

Dubai's Law No. 15 was passed in late 2017 and was designed to clarify the administration of Wills for non-Muslims with assets in Dubai.

Egypt seeks sovereign wealth fund boss

Government announced formation of fund earlier this year

Andersen Global Continues Expansion in Middle East

Zalloum & Laswi provides in-depth knowledge on a wide range of legal issues to a variety of clients, but typically mid to large sized Jordanian corporations or foreign corporations that require representation in Jordan.

UAE to begin VAT refund scheme for tourists from November

VAT refunds will initially be available at three airports in Dubai, Sharjah and Abu Dhabi, and will be eventually be extended to 12 points

Corporate governance in the UAE

Corporate governance in the Middle East is mostly driven by the need for more foreign direct investment in the non-oil producing countries.

Saudi group seeks to stop banks claiming assets after default

Ahmad Hamad Algosaibi & Brothers Co will oppose the move because assets are meant to be frozen by a royal decree to ensure all creditors are treated fairly

BBK signs financing deal with Eagle Hills

Eagle Hills Diyar, the developer of Marassi Al Bahrain, is a joint venture between Eagle Hills, an Abu Dhabi-based private real estate investment company, and Diyar Al Muharraq.

Saudi Wealth Fund to Sign $11 Billion Loan

London-based boutique Verus Partners is advising the Public Investment Fund on the talks, the people said.

U.A.E. Market Regulator Launches Fintech Controls Targeting Cryptocurrencies

Cryptocurrencies, in particular, have come under scrutiny, due in part to the emergence of ICOs and the volatility of Bitcoin.

National Bank of Oman hires banks for new dollar bond issue

Meetings with investors in Asia, the Middle East and Europe will begin on September 12, according to the document.

Saudi IOF signs agreement to develop workforce in finance sector

The Institute of Finance (IOF) in Saudi Arabia signed a Memorandum of Understanding (MoU) with the UAE-based GCC Board Directors Institute (GCC BDI) to enhance cooperation in training and development.

New guidelines for economic licenses in Abu Dhabi

The new licenses need to obtain a 'No Objection Certificate' for the first year.

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