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

DMCC cuts business set-up fees by 50% for diamond companies

The reduction is effective immediately and valid until 30 September

Dubai Investments reports 42% drop in half yearly profits

Dubai Investments revealed H1 profits decreased to $55.78m as a result of Covid-19 impact

Outlook: Weakening capital buffers could trigger negative rating on GCC insurers: S&P

High exposure to equites, other high-risk assets put earnings and capital buffers of GCC insurers at risk

Upbeat non-hydrocarbons sector helps Qatar post gain in Q1 real growth: PSA

The agriculture, forestry and fishing registered growth of 0.6% and 8.1% year-on-year and quarter-on-quarter in Q1 2020 on a real basis.

UDC posts net profit of QR101m in H1 2020

UDC is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar’s growth and providing shareholder value.

Saudi Arabia's Economy Hit Hard by COVID-19, Posts $29 Billion Deficit in Q2 2020

Economists have said this could restrict recovery as curbs aimed at reducing the spread of the coronavirus are lifted.

Newcastle owner Mike Ashley banks £17m from takeover saga despite Saudi’s proposed £300m deal collapsing

The takeover has been dogged by trouble from the outset.

Saudi firms struggle to maintain investor relations

Amid the Covid-19 crisis, too many Saudi companies are forgetting that investor relations is an “essential” part of their businesses

Metlife Gulf releases its 2020 Claims report

The report covers data from 2017-2019 and offers a detailed look at all aspects of Medical and Individual claims for MetLife in the Gulf region

MENA fund managers to increase Saudi investments with eye to recovery

Half of the eight fund managers polled by Reuters said they would increase their allocations in Saudi Arabia, the Gulf's largest economy

Aramco CEO honored with Kavaler Award

The recipient of the Kavaler Award is chosen by a peer group of executives in the chemicals industry, selected by the consultancy ICIS, and the Chemist’s Club, a professional executive organization.

Gulf banks are weathering the pandemic storm — for now

After the most challenging six months for years because of the pandemic lockdown and sharp fall in economic activity, a big jump in bad debts might be a healthy sign of financial prudence on the part of ENBD.

Apex Dubai Expands Relationship with ENBD REIT

Apex to provide ENBD REIT with property-level accounting and reporting services through the Yardi platform

Alliance Global supports the MenaLabs in Dubai in the fight against COVID-19

The Alliance Global team provided technical and applications training to MenaLabs' personnel to help them use the installed system optimally

Sharjah developer Arada bucks UAE property downturn with 10% rise in H1 sales

Emirati investors and project handovers boost sales for Sharjah's largest property player

Private sector companies in Abu Dhabi restricted to 60% on-site workforce capacity

Abu Dhabi has issued a new set of precautionary guidelines for all private sector firms operating within the emirate

Gold may correct to $1,700 near-term, but bounce back to $2,500

Holdings of physically backed gold products have risen by 160 tonnes this month, taking the year-to-date total to almost 900 tonnes.

Damac, Arabtec stock rallies keep UAE markets buzzing

Damac's gains are built around now intense speculation company will go private

Global equities likely to remain volatile as rising number of new cases could potentially impact the pace of economic recovery

Allied Investment Partners PJSC Market Report

Dubai’s real estate sector records transactions worth Dhs72.5b in H1

Women accounted for a substantial share of the number and value of investments.

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