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

Saudi Kayan signs murabaha facility worth $800mln

The facility to be used to support working capital requirements

New UAE visa rules: Validity decreased for visas issued in free zones

The country has over 40 multidisciplinary free zones, and both expatriates and foreign investors are allowed to have full ownership of companies

UAE: Company director fined Dh400,000 for employing workers illegally in Dubai

Seven labourers arrested for staying in the country illegally, working for another sponsor

NCP signs a cooperation agreement with Riyad Bank

This stems from the banking sector being one of the most important strategic partners in the success of privatization and PPP (P&PPP)

CBB receives renewed ISO certification for Information Security

CBB fulfilled all requirements relating to the international standard and achieved the highest level of competency

UAE Labour Law amended to help employers retain talent

But thousands of employers have already updated employment contracts to comply with the original three-year cap.

What Indians living in UAE need to know about income tax returns

NRIs could be required to submit returns in certain scenarios even if there is no tax payable

DIFC regulator DFSA's penalties of Dh5.5m on KPMG and Dh1.83m an ex-auditor to stay on their Abraaj work

KPMG decides to withdraw DFSA fine review over its work with Abraaj Capital

For expats, Sharjah's property ownership decree clears path on inheritance, transfer of rights - will an offplan boom follow?

Decree sets up clear guidelines on ownership, property rights transfer and inheritance

UAE’s unemployment insurance scheme to begin on January 1

Those with basic salary below Dh16,000 can get payout of up to Dh10,000

Central banks are stocking up on gold as demand reaches pre-pandemic levels

World Gold Council says total demand for gold jumped 28% on year

Sharjah announces changes to real estate ownership law for expats

The amendment mentions the circumstances under which a person who is not a citizen of the UAE or of a Gulf nation can own real estate in the emirate

IMF confirms $3bn loan for Egypt, welcomes exchange rate flexibility

The announcement came after Egypt’s central bank announced that it raised key interest rates by 2 percent and switched to a more flexible exchange rate system in a bid to combat the country’s mounting economic issues.

Saudi Arabia signs six MoUs on opening day of 6th Future Investment Initiative

The agreements will support the efforts and objectives of the Ministry of Investment to attract investments, enable sectors to grow and facilitate access to investment opportunities

Dubai Court declares Arabtec bankrupt, approves liquidation of its assets

Dubai Court's final ruling also applies to all Arabtec subsidiaries

Goldman, banker agree settlement terms over London dismissal lawsuit

A lawyer for Thomas Doyle, the bank's former EMEA head of synthetic swap sales, on Saturday confirmed that settlement terms had been reached over ordinary unfair dismissal claims

Insurance company Volante Global uses Lloyds’s Syndicate at DIFC for Middle East and Republic of Türkiye growth

Volante (DIFC) Ltd has received a category four licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC

PwC strikes partnership with Abu Dhabi-based AI group G42

One of the key areas of focus is on building a joint cloud proposition which enables organisations to leverage AI in the cloud, as opposed to less powerful onsite applications.

K&L Gates Recognized as Banking & Finance, Corporate Teams of the Year at Qatar Business Law Forum Awards

The recognitions come at the same time as several others for the firm

Debt reduction, not currency stabilization, is Egypt’s goal: Central Bank advisor

The consumer price inflation in Egyptian cities rose to 15 percent on an annual basis in September

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