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

Abu Dhabi Financial Group lifts stake in Noble

ADFG is a privately owned group that includes investors from the Abu Dhabi royal family.

Qatar to sue Arab state quartet for ‘siege’ damages, sets up new body to calculate losses

And those who compelled these damages to happen must pay compensation for them.

Iran, Turkey mull free trade plan to boost cooperation

Both sides need to enhance their banking cooperation to facilitate the expansion of their mutual trade.

Charles Russell Speechlys launches in Hong Kong and Dubai

Already well-established in the region, these appointments further enhance the firm’s in-region disputes capabilities, creating a Middle East-wide team that can handle local, regional and international cross-border litigation and arbitration.

Two JIT members quietly leave for Doha

Both the JIT members were scheduled to land back home early Wednesday after recording the Qatari prince’s statement.

Barclays defendants released on bail

The case relates to the actions of Barclays after the financial crash of 2008.

ED to approach six countries for details on Vijay Mallya’s properties

The agency alleged that Mallya owns several properties in the UAE and the US and has also incorporated several companies in the US, where the funds also have been suspected to have been diverted.

UAE envoy to US linked to Malaysia 1MBD scandal, say reports

Leaked emails show companies connected to envoy received $66mn from accounts linked to Malaysia's 1MDB fund

Qatar investments in Philippines firmly 'on track', says official

Sa'Adeh said Management Solution and Final Touch Construction will each invest 1mn, while Static International will invest 3mn inside the ecozone to be developed by KTS Trading & The Penguin Group.

GIB Granted Retail Banking Licence in Bahrain

The licence is considered to be an important milestone for GIB as it will expand the bank’s presence in Bahrain and pave the way for further expansion across the GCC.

The mysterious fall in Saudi foreign reserves

Net foreign assets falling despite narrower budget deficit, mystifying economists and diplomats monitoring Riyadh.

Foreign exchanges in many countries are refusing Qatari riyals

Exchanges in Jordan and Lebanon, for example, are still operating normally.

Qatar riyal FX market in chaos but bankers believe peg still solid

This week it traded between banks as low as 3.81, more than 4 percent below its peg - the lowest level this decade.

The mysterious (and continuing) fall in Saudi foreign reserves

Net foreign assets falling despite narrower budget deficit; Rate of decrease almost the same as in 2015 and 2016

CB says Qatar-Gulf crisis could pose threat to remittance inflows

Despite being oil rich, this has put immense pressure on Qatar’s economy.

Qatar banks 'well-placed to weather crisis'

We are extremely comfortable with our positions, our investments and liquidity in our systems.

Qatar rejects list of demands from Saudi Arabia

The rift between the US Gulf allies has been awkward for Washington.

Future of "monetary tightening" unknown -- NBK report

President William Dudley reinforced expectations of another interest rate hike this year stating that inflation should rebound alongside wages as the labor market continues to improve.

Ex-Dubai Bank boss now faces fresh suit

The KDIC believes that Mr Zubeidi used the accounts to launder funds before transferring them to his personal coffers.

Rift risks upping Gulf debt issuer costs

We are not yet ready to increase our exposure to the region.

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