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

Most Gulf markets end higher with Dubai leading gains

Property stocks also drove gains, with blue chip developer Emaar Properties ending 1 percent higher.

Saudi Arabia closes January domestic sukuk issuance worth $790m

The issue size was set at SR2.96 billion ($790 million)

Egypt expected to restore pre-pandemic real GDP growth at 5.5% during FY2020/21

'Egypt’s economy continues to be praised by international financial institutions amid the COVID-19 crisis based on its positive indices that mirror its resilience against internal and external shocks' said Finance Minister Maait

Even 12-month rent-frees are on offer for office rentals in Dubai

Landlords willing to do so on longer term contracts even as more space hits market

UAE telecom giants Etisalat, Du increase foreign ownership limit to 49%

Shares of Etisalat and Du jumped more than 14% following the announcement to consider lifting foreign ownership limit

ENBD marks listing of $750m bond at Nasdaq Dubai

Demand was global with 49% of appetite coming from Asia, 35% from Europe, 11% from MENA and 5% from the US and elsewhere.

Egypt’s holdings of US Treasuries hit $2.244bln in November 2020

From January to November, Egypt’s holding of US Treasuries grew by $62mln from $2.182bln at the end of 2019

Why global restructuring firms are embarking on Gulf hiring spree

Companies are anticipating a spate of turnaround work as companies succumb to the coronavirus pandemic

Ominvest's net profit rises to OMR33.7 million

The company intends to prudently deploy its excess liquidity and unused debt capacity to undertake new investments to achieve its future growth and diversification objectives.

Abu Dhabi, Aldar Properties to develop capital projects worth $12.25bln

The projects will deliver approximately 25,000 homes for UAE nationals

Bahrain expected to raise $2 billion in three-tranche bond sale

It gave initial price guidance of around 4.875 percent for a seven-year tranche

Masdar, Emirates NBD Asset Management to provide services for UAE’s first ‘green’ REIT

Masdar Green REIT will facilitate more sustainable real estate assets coming to market by providing institutional funding to support the future expansion

Indonesia campaign helps SMEs enter Saudi market

They will be the main target of the export initiative, which is estimated by the Indonesian Ministry of Trade to be able to generate $60 million

Addressing the Middle East's growing skills mismatch

The former has been in headlines for years – describing a lack of talent available to meet future business roles, mainly in the all-encompassing field of emerging technology.

Assets of Abu Dhabi, Dubai banks rise to Dh2.95 trillion

Total assets of the banks of the Emirate of Dubai reached Dh1.516 trillion in November

Coinbase Invests in Middle Eastern Crypto Exchange Rain Financial

Rain Financial, a Middle Eastern crypto platform, has raised $6 million from Coinbase and others in a Series A funding round.

Saudi Arabia tops 2020 list of UAE export markets

The latest figures from the UAE’s Federal Competitiveness and Statistics Centre reported that the Emirates exported to 230 countries in 2020, up from 200 in 2019.

Bahrain is latest Gulf state to tap bond markets

Debt offer is split into three tranches, with longest one having 30-year tenor

Saudi Arabia’s Top Bank Follows UAE Rivals to Dollar Bond Market

National Commercial Bank, the largest bank in Saudi Arabia by assets, is in the process of taking over Samba Financial Group.

Menacorp ranks No.1 in DFM list of top stock brokerage firms for the decade

The top ranking, which was taken from official data published by DFM post December 2020 results, proves to be a major achievement for Menacorp, considering that the company was initially in competition with more than70 other institutions

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