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

Saudi Inflation Still Fueled by VAT Hike, Central Bank Says

Inflation is expected to stabilize on an annual basis in the second half of 2021 as the base effects of the VAT increase wear off.

Al Rayan Investment wins 3 awards

Al Rayan has maintained its strong performance in 2020 against a challenging back-drop and won a notable three awards.

SHUAA Capital Secures Two Awards on Back of Strong 2020

SHUAA had recently announced its preliminary financial results for FY 2020, in which the Group doubled its profit year-on-year - with a net profit of AED 125 million in FY 2020, up from AED 47 million in 2019.

UAE start-up specialising in used luxury goods gets $5mln funding

North Ladder, previously called BuyBack Bazaar, says investment is led by BECO Capital

Saudi investors pump $144m into London’s office market

Despite Brexit and the pandemic, the UK capital remained attractive in 2020

Sovereign reshapes middle east management to deliver a focus on growth in the region

Nicholas Cully, who also sits on the Group Board of the Sovereign Group as Sales Director, stepped down as Managing Director of Sovereign's Dubai office after five years in the role and over a decade in the Emirate

M&A activity in insurance sector set to soar in 2021

MENA saw 12% more completed deals in 2020 as regional players sought to expand their footprint or grow business

National Bank of Kuwait sells $700 million AT1 bonds -document

AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature, but lenders can call them after a specified period.

Sovereign, pension funds double down on private debt amid pandemic

With interest rates near zero in the pandemic's aftermath, many are tempted by the yield pick-up offered by private debt

Turkey moving to become a major player in Africa

The coming to power of Erdogan’s Adalet ve Kalkınma Partisi and the rise of the pious and dynamic Anatolian bourgeoisie in business changed the scene.

Stalled UAE tourism won't impact long-term hospitality investments

In response, Expo organisers in Dubai have said that the initial attendance target remains unchanged, but may be revised closer to the six-month event’s October start date.

GIS reports QR3bn revenue in 2020

In terms of topline performance, the aviation segment continued the growth momentum

Saudi defense firms set for IDEX 2021

The Kingdom will participate in the event, which starts on Monday

Abu Dhabi records real estate transactions worth $20.14bln

In 2020, the value of real estate mortgages amounted to $12mln totalling 11,000 transactions

Alijarah Holding to explore new investment opportunities

Addressing the meeting Sheikh Falah Bin Jassim Bin Jabr Al Thani, the Chairman of the Board of Directors said that the company will explore new investment opportunities with lucrative returns.

Barwa Real Estate reports QR1.214bn net profit in 2020

This is despite the impact of the COVID-19 pandemic, which reflects the strength of the Group’s real estate portfolio and its ability to absorb fluctuations in the real estate market.

SHUAA Capital reports preliminary FY 2020 net profit of AED 125 million up 166% from 2019

We entered 2021 with a strengthened business

ADX requires companies to produce annual financial report on time

Results should be out within three months after end of financial year

Saudi sovereign wealth fund boosts U.S. equities exposure to nearly $12.8bln

Saudi Arabia transferred a total of $40 billion from central bank foreign reserves to fund investments by sovereign wealth fund PIF

Global companies to be rewarded for setting up in KSA: Officials

Kingdom aiming to attract hundreds of companies to base regional headquarters there

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