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

UAE investors are optimistic about their region's economy, UBS survey finds

Investors and business owners globally have grown more upbeat on the economy and stock market

UAE Central Bank sees a strong return to GDP growth this year

The governor invites the community to help kick-start the recovery

Saudi Wealth Fund Joins Qatar, UAE Peers in Private Lending Rush

Fund aimed at mid-size Mideast firms looking to get financing

UAE’s GDP contracted 7.7% in 2020: Knight Frank

Despite this shock, the UAE’s “commendable handling of the pandemic and fiscal and monetary stimulus plans have seen recovery ensue in these and other sectors,” the report said

NBB ties up with Eskan to offer joint housing loan solutions

As per the agreement with Eskan Bank, NBB will jointly mortgage the properties financed by both banks, offering attractive interest rates to applicants with loan tenors reaching up to 25 years.

Sharjah real estate transactions value record AED 15.9 billion in 2020

Al Shamsi: Sharjah real estate sector sees quantum leaps due to the incessant support of our prudent leadership

Egyptian leaders grab most entries in Forbes top 50 Power Businesswomen

Egypt topped the list in terms of entries followed by the UAE

The importance of Middle East investors to London's office market

New figures reveal regional investment of nearly $5.3bn in 2021 despite pandemic impact on global travel

Budget Saudi posts 5% net profit rise to $50.1m in 2020

Q4 2020 net profit after Zakat and tax rose 64 percent year-on-year (YoY) to SR 79.4 million.

One of world’s richest nations taps wealth fund as cash dries up

To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund

ENBD REIT's Q3 property portfolio value down to $366mln

ENBD REIT’s management has focused on securing longer-term leases for all renewals and new leases

Strengthening trade with GCC a priority after Brexit, UK says

The MP said that Brexit has made access to trade agreements with GCC countries “more flexible”

Middle East economies will reach 2019 GDP level in 2022: IMF

GCC countries have the widest coverage of the vaccination

Turkey wealth fund ready to spend after year of M&A

The sovereign investor’s priorities highlight its role as the hub of the country’s post-pandemic economic order.

Banque Misr keeps monthly return on saving certificates at 11%

It also kept its credit and discount rate at 8.75 percent.

TCS takes full control of all-women BPO center in Riyadh

Following completion, TCS will take full charge of an all-women delivery centre in Riyadh – staffed with 1,000 professionals with expertise in finance, accounting, human resources, supply chain management and IT services, among others.

Saudi, UAE, and GCC banks facing major pressures in 2021

As regulatory forbearance measures are gradually phased out and the economy adjusts to the new normal, the cost of risk will remain elevated in 2021, increasing to 140 bps (from 80 bps in 2019), before starting to gradually normalize in 2022.

EBRD, DEG and GEF promote private-to-private solar energy in Jordan with Yellow Door Energy

In total, 48.3 MWp of renewable energy capacity will be added to Jordan’s power system, generating over 81 GWh of renewable electricity per year during the lifetime of the project.

UAE’s Sky Abu Dhabi plans $950m Egypt investment in next two years

The company plans to spend 300 million Egyptian pounds on construction of the project this year

Kuwait taps wealth fund as cash dries up

Fitch on Wednesday cut Kuwait’s outlook to negative from stable

Alternative Investments