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

Reduction in Q1 Saudi budget deficit due to capex cut - analysts

IMF says 2021 budget deficit to fall to 4.2%, better than forecast

UAE Trade Connect launches digital trade platform

The initial phase will focus on addressing the risks of double-financing and invoice fraud before turning to other key areas of trade finance, such as digitalising bills of lading and e-invoices.

SICO reports BD 1.2mln net profit for the first quarter of 2021.

The bank's assets under management increased by 50 % to BD 1.3 billion (USD 3.5bln) and assets under custody stood at BD 3.0 billion (USD 8.0bln )

Global Finance names Bank ABC's ABC Labs as one of the world's best financial innovation labs

Ground-breaking innovations, pioneering new technologies and collaboration secure an exciting win for ABC Labs at Global Finance's prestigious Innovator Awards

Invest in Dubai registrations top 5,700 since launch

The largest one-stop-shop platform of its kind, Invest in Dubai enables investors to obtain trade licences and launch their business in a matter of minutes

Sea and space in demand as UAE property buyer mix changes says Aldar boss

Aldar said on Monday it had achieved property sales of above 1 billion dirhams for the third consecutive quarter

Saudi PIF-owned digital security firm said to hire IPO adviser

The IPO could see the PIF selling off a stake of up to 30 percent

Kuwait Finance House-Bahrain renews its agreement with Eskan Bank for "Danaat Al Baraka" project

The real estate financing offer, which is in compliance with the principles of Islamic Shari'a, includes competitive annual profit rates

Net profit at Bahrain investment firm GFH Financial zooms 217% in Q1-2021

Solid gains from commercial banking, treasury lift GFH's net to $16.22m

Al Salam Bank-bahrain Announces Financial Results For The First Quarter Ended 31 March 2021

Total shareholders’ equity increased by 2.1% from BD 280.8 million (US$ 744.8 million) in 2020 to BD 286.7 million (US$ 760.5 million) at the end of March 2021, primarily due to the profit earned during the period.

Kamco Invest reports net profit for the first quarter of 2021

Total revenue for the period reached KWD5.2mn (Q1 2020: KWD0.4mn), with fee & commission income amounted to KWD3.4mn, representing 65% of total revenue.

Dubai's Shuaa Capital records highest Q1 profits in a decade

SHUAA sells 20% stake in Mirfa International Power and Water Company to Japanese investor

Bahrain Kuwait Insurance Company net profit surges 11.2% in first quarter

Earnings per share remained at six fils during the first quarter

The increasing role of ESG investments in the race to zero

Environmental, social, and corporate governance (ESG) investments represents a third of the assets under management, according to Bloomberg Intelligence

Abu Dhabi IHC's subsidiary acquires stake in U.S. digital media platform Firefly

Firefly is backed by investors such as Google Ventures, NFX, and Stanford University's StartX Fund

Shuaa Capital sells 20% stake in Abu Dhabi utility company

Mirfa International Power and Water operates a power generation and desalination plant in Al Dhafra

Bahrain’s Investcorp targets larger North American deals

“At the moment there are deals that we really like that we don’t pursue because they’re outside our size range.”

Bahrain a 'country to watch' for GCC contact center outsourcing

“Bahrain is emerging as one of the countries to watch for nearshore contact center delivery within the GCC and in targeted Western European locations,” said Ryan.

Saudi Fransi to advise Emaar the Economic City on $753mln capital hike debt conversion

The reason for the debt conversion is to improve the company’s liquidity and credit position and enhance its ability to achieve its growth objectives, the developer said

Dubai Investments targets acquisitions to diversify its portfolio

Earlier this week, the company reported a Dh123.8 million profit for the three months to March 31

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