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

CBB raises key interest rate by 75 basis points

CBB’s key policy interest rate on the one-week deposit facility is raised from 1.75% to 2.50%

FAB Egypt rebrands to FABMISR after legal merger with Bank Audi

FAB Egypt’s assets will operate under FAB’s newly introduced brand identity FABMISR

Finance Ministry in Kuwait currently working to activate economic, financial reform initiatives

By reviewing public services, improving state revenue collection, strengthening tax administration capabilities, improving customs flows, improving oil revenues, and developing public financial management

Entities operating in microfinancing activity in Egypt increased to 1,026 by the end of March 2022: FRA

The authority clarified in a recent report that these entities are divided into 32 bodies and civil institutions along with four companies

Central banks step up tightening to rein in soaring inflation globally

Weaker growth, stronger inflation and damage to supply chains - a threefold crisis

CBUAE signs a MOU with Jordan and Egypt to promote financial and banking relations

Central Bank governors from the UAE, Egypt and Jordan discuss prospects for developing co-operation and supporting industrial partnerships

Egypt’s Sovereign Fund to establish sub-fund with $4bln state assets

The fund could eventually rise to more than $5-6bln

Alvarez & Marsal releases Saudi Arabia Banking Pulse for Q1 2022

Saudi banking sector profit remains well diversified

Clifford Chance advises DP World on the sale of a minority stake in its strategic UAE assets to CDPQ for US$5 billion

Tranche 1 (US$5 billion) of the transaction is expected to close in the second or third quarter of 2022, and tranche 2 (up to US$3 billion) is expected to close during the fourth quarter of 2022.

Saudi issues 9,400 new investment licenses for foreigners in first quarter of 2022

This figure is about 19 times more than the licenses granted in the first quarter of 2021, according to the data issued by the Ministry of Investment

UAE leads international money laundering, tax evasion operation in arrest of Sanjay Shah

For the past two years UAE authorities have worked closely with their Danish counterparts to compile a strong body of evidence in this case

Corporate Tax In The UAE

This is a question on many people's lips and the answer is simple, to ensure the UAE develops and transforms.

Linklaters advises nogaholding on the largest ever sustainability-linked loan in Bahrain

As the company’s first sustainability-linked corporate financing facility, it utilises KPIs related to greenhouse gas emission reduction as well as safety measures.

China In-Focus: Beijing asks state-owned policy banks for $120bn for infrastructure projects

China will take the needed measures to prevent domestic firms from being blacklisted in the US. Meanwhile

GCC states can create 600,000 tech jobs, add $255bln to GDP by 2030

By harnessing their digital economies, GCC states can boost GDP, says Strategy&

Sheikh Mohammed issues law to establish Dubai Media Council

The council will develop Dubai’s media strategy and oversee its implementation

Saudi Zakat, Tax, and Customs Authority exempts taxpayers from fines

The period starts on Wednesday until Nov. 30, according to the Saudi Press Agency.

Dubai Financial Services Authority Enacts New Regime for Credit Funds

The new regulation primarily impacts the managers of credit funds domiciled in the DIFC, but there are some implications for non-DIFC credit funds.

Egypt is a key strategic partner of South Korea: Ambassador Hong Jin Wook

The EDCF policy dialogue was held to exchange views on bilateral development cooperation with the participation of a host of officials from both countries.

Israel signs major trade deal with UAE

Tariffs eliminated on 96% of goods

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