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

Mubadala begins marketing three-tranche dollar bonds - document

All three tranches will be listed on the London Stock Exchange and the Formosa tranche will also be listed on the Taipei Exchange.

EBRD extends US$125 million in new funds to Turkey’s Enerjisa

EBRD funds will support the implementation of the company’s investment plans during the period of uncertainty.

Bahrain Clear inks deal with First Abu Dhabi Bank

First Abu Dhabi Bank is the UAE’s largest bank and strongest financial institution in the Middle East

IMF Response Signals Positive Agreement with Lebanon

The plan was “an important step forward.”

Bahrain offers riskiest Eurobond since market hiatus

The kingdom has attracted more than $7.5 billion in demand so far after offering a substantial yield premium for its 10-year notes and Islamic securities

Nakheel cuts salaries as pandemic hits Dubai retail and real estate

“We are extremely grateful to our employees for their dedication, commitment and understanding during this difficult phase, which we can – and will – overcome.”

Abu Dhabi sets up Dh550m fund to help out local exporters

This will be used to ease cash concerns of overseas companies placing orders

Middle East development banks shell out millions in trade finance relief

The bank says the increase was based on a recommendation by Apicorp’s board of directors and boosts its financial resiliency, as well as its ability to invest in the energy sector.

London property sales intact for Middle Eastern investors: Knight Frank

A number of simultaneous exchanges and completions are also taking place, which minimise the risk of anything untoward taking place between these two stages, which are usually several weeks apart.

Qalaa Holdings moves to losses in 2019

The standalone financial statements of Qalaa Holdings showed a 52% year-on-year (YoY) rise in its net losses during 2019.

SABIC cuts capital expenditure after Q1 losses

SABIC said that, despite the improved business climate in China, it anticipated negative impact elsewhere in the world on demand and market sentiment in the second quarter of 2020

Saudi Arabia’s Monshaat holds online sessions to support SMEs during pandemic

The fourth session held on Sunday discussed ways to emerge from the ongoing health crisis with minimum damage.

Abu Dhabi said to shelve sale of $2bn private equity book due to coronavirus

ADIA plans to restart the sales process in the second half of the year

EFG Hermes maintains buy rating for Emaar Malls on long-term business prospects and solid business model

The company has access to an undrawn Dh6.6bn credit facility that offers comfort in its liquidity position, especially in view of current market conditions

Dubai-based insurance aggregator Yallacompare raises $4.25 million in new funding

The deal has been in the making for some time and we are delighted to be able to announce this extremely positive news in a time of such uncertainty.

Saudi Arabia wealth fund builds team to hunt for global bargains

The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis

TISE listing is a first for ADGM funds industry

Two classes of the fund have been listed on TISE.

Saudi foreign reserves fall to lowest record in 20 years

Non-oil revenues decreased in the first quarter of this year by 17 per cent compared to the same period last year while revenues from taxes on goods and services have also fallen, indicating a total economic slowdown in the kingdom.

Saudi Arabia gets a new oil customer in Belarus

The move reflects a competition in physical oil markets between Russia and Saudi Arabia as both fight for market share amid falling global oil demand.

Dubai to Avoid Glare of Public Markets and Raise Bonds Privately

Emirate said to be in talks about loans and private placements

Alternative Investments