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

CI Capital Holding's profit falls 17% in Q1-20

It is worth mentioning that for the full-year 2019, the company’s net profits jumped to EGP 621.15 million from EGP 425.31 million in 2018.

ICD reports Dh25 billion net profit, up 16.9% in 2019

Thank you for your reading and interest in the news ICD reports Dh25 billion net profit, up 16.9% in 2019 and now with details

ADQ launches Dh1.1 billion venture fund

Alpha Wave Incubation Fund to focus on Indian and South East Asian startups

Axa partners with UAE insurtech firm on affordable protection

To target over 10 million people across the Middle East, Africa, Asia and Latin America

Egyptian pound forecast to drop by single digit percentage

The local currency may trade at 17.00/$ by the end of 2020.

Impoverished Jordan holds $3bn of foreign aid in offshore accounts

Jordan’s debt burden hit 96 per cent of GDP last year and its economic woes have been compounded by the lockdown.

QSE seen built on a strong base of profitable companies

The government had announced a financial package for the private sector to the tune of QR75bn, or 10% of gross domestic product.

Investment power shifting east to Gulf and Asia

Cash is king in a recession and sovereign wealth funds have deep pockets

QR75bn stimulus key to ensure sustainability of businesses: Seetharaman

Banks can benefit from the QCB’s (Qatar Central Bank) decision to bring down the repo rate to zero.

Bahrain's UGH subsidiary has $8.5mln exposure to agri-trader Phoenix

UGH does not have any direct exposure to the commodities trader

Saudi Arabia Acquires Shares Worth $7.7 Billion in World’s Major Companies

Stock market experts said the buying spree reflected confidence on the part of the PIF that companies badly affected by the economic fallout from the COVID-19 pandemic would recover quickly, and their share prices would rise.

Saudi wealth fund boosts US holdings with stakes in Citi, Boeing, Facebook

PIF's strategy is two-pronged; building an international portfolio of investments and investing locally in projects that will help reduce Saudi Arabia's reliance on oil.

QFC welcomes Credit Agricole CIB, Vakifbank to its platform

In line with its 2022 strategy announced last year, the QFC continues to aggressively pursue financial services as a key focus cluster, as well as the sports, media, and digital sectors.

Egypt's Suez Canal Bank to sell entire stake in Midor

The 1.27% stake will be sold to Egyptian General Petroleum Corporation

Dubai leads GCC stock market decline in early trade

Dubai bourse led the regional fall, losing 1.8 per cent to 1,886.5 points in the morning trade.

EMEA emerging market banks face rising risks amid lockdown, oil shock - Fitch

86 out of 100 EMEA EM bank ratings reviewed had negative rating actions

Turkey crunch would pack only weak punch for emerging markets

Reverberations this time might be of even lower magnitude, because investor positioning in emerging markets overall and Turkey in particular looks dramatically different from the summer of 2018.

Dubai registered record property sales in Q1 2020

COVID-19 pandemic impacts all segments of the UAE property market

Turkey to add $3bn to state banks’ capital over virus

Fresh capital will be used to help companies hard hit by the loss of business after lockdowns hampered manufacturing and retail industries.

Société Générale joins EBRD in financing Izmir metro

The investment project is part of the joint work of Izmir and the EBRD to improve the urban environment and people’s lives in the city.

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