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

Saudi Arabia’s BinDawood Holding prices IPO

BinDawood’s IPO marks another major listing for Saudi Arabia’s bourse, as companies tap into demand for shares since oil giant Aramco’s record IPO last year.

UAE Exchange Centre's 3,000 odd employees hope a Finablr takeover will do them good

Israel's Prism Advance Solutions has bid for Finablr and says it will settle all debts

UAE-Israel accord could bring new sparkle to Dubai diamond trade

Dubai, with $21.2 billion in diamonds traded last year, and Israel, with around $12 billion, are the Middle East's main diamond centers.

Gulf markets - Saudi Arabia leads and the UAE retreats due

The Qatari index closed up 0.6 percent, as the share of Qatar Petrochemical Producing Industries rose 1.7 percent, while Qatar National Bank gained 0.9 percent.

BNY Mellon and NCB Capital team up to service major Saudi asset owners

The tie up will help to meet “the increasingly sophisticated demands of our institutional client base.

The bankruptcy of Arabtec continues to put pressure on the shares...

The leading stock index in Egypt fell 0.6 percent, and most of the index shares fell, such as Ibn Sina Pharma, which fell 3.6 percent.

To protect African minigrids, Schneider will invest in cybersecurity

Increased investment in cyber-security is key to Schneider’s strategy of targeting minigrid operators in Africa, Amel Chadli, vice-president of development and strategy for the Middle East and Africa, tells The Africa Report.

UAE and Israel join forces on venture capital investments

A joint statement said the new venture would “identify and support UAE based start-ups seeking growth and development in Israel

Egypt sees strong growth in non-oil economy

Minister of Planning and Economic Development Hala Al-Saeed said the positive result was due to increased consumer demand and exports

Abu Dhabi Investment Authority to invest over $750mln in Reliance Retail

ADIA's investment will translate into a 1.20% equity stake in Reliance Retail

Alvarez & Marsal to administrate NMC Healthcare in UAE

The pair are now managing NMC’s affairs in London as well as across the UAE

Ambani sells over $750 million Reliance Retail stake to Abu Dhabi Investment Authority

Founded in 2006, Reliance Retail serves more than 3.5 million customers each week (as of early this year) through its nearly 12,000 physical stores in more than 6,500 cities and towns in the country.

GCC banks to see a wave of mergers amid pandemic-driven economic slowdown, Moody's says

Smaller banks are likely to merge or be acquired, ratings agency says

How banks and insurers in Saudi Arabia are faring during Covid

Thankfully for the sector, the government very quickly took the financial burden for the pandemic off the insurance industry, covering treatment costs for citizens and residents in the country.

Stakeholder capitalism - what is it, and how can it help the Middle East and North Africa?

The Forum’s Principles of Stakeholder Capitalism for the Middle East and North Africa is a roadmap for more inclusive economic growth

Azimut to launch fixed income fund in Egypt

The move marks the fund as the first to contract with several receiving parties, with some allowing for subscriptions to take place electronically.

Oman banks on SMEs, tourism to revive economy

Omani government data suggests that 77 percent of COVID-19 cases in the country are mainly from three governorates

EBRD invests in Egypt-focused private equity fund

The EBRD’s investment in LCP Fund II helps to contribute to the development of private equity in Egypt and will help to provide long-term capital growth to small and medium-sized companies in the region.”

Saudi Aramco and Sumitomo Chemical to lend Petro Rabigh $2 billion

The Japanese company also said the financial completion guarantees it and Saudi Aramco provided for financing the Rabigh Phase 2 refinery and petrochemicals complex project had been terminated as of Sept. 30.

ADGM established close partnerships with over 100 Chinese leading institutions: Al Sayegh

The establishment of the ADGM’s first cross-border representative office in Beijing in May 2018 reinforces active role in facilitating bilateral trade, investment

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