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

Development bank APICORP increases callable capital to $8.5bln

The increase is the largest in the corporation's history

US Data Residency Platform, InCountry, selects Hub71 for Middle East Headquarters

The fact that InCountry has taken the decision to join Abu Dhabi's Hub71 - is testament of resilient tech ecosystems that are able to weather the storm during major macroeconomic upheaval.

Italian exports to Qatar jump 27% in 2019, says envoy

In addition, Cassa Depositi e Prestiti, Italy’s state lender, and Sace, its export agency, will provide further guarantees to companies until the end of this year for an additional €200bn, he further said.

Qatar’s real GDP growth forecast to bounce back in 2021April

Oil producers are not the only economies in the region strained by virus-related shutdowns and struggling to patch up financing gaps.

Kuwait Syrian Holding posts 40% lower loss in 2019

The board of directors did not propose any dividends for 2019

$7bln Saudi bond sale oversubscribed - MoF

Issuance was more than 7 times oversubscribed with total orders amounting to more than $54bln

BlackRock AUM drops CHF 1tn, with long-term outflows in EMEA

The world’s largest asset manager’s AUM fell to $6.4tn (CHF 6.2tn), compared to $7.4tn (CHF 7.2tn) at the end of 2019.

Saudi Aramco in talks with banks to borrow about $10 billion for acquisition of 70% stake in SABIC: Report

A second source said banks involved in the talks included HSBC and JP Morgan as well as lenders in the Gulf.

Saudi Arabia starts selling three-part bonds

Riyadh increased its debt ceiling to 50% of GDP from a previous 30% in March

How COVID-19 is Affecting the World’s Sovereign Wealth Funds

The GPFG reported a loss of 14.6% in the first quarter of 2020.

Gulf sovereigns likely to tap bond market amidst global recession

Now, that number has been turned on its head; we now project that over 170 countries will experience negative per capita income growth this year.”

MENA Q1 startup investments at $277mln; March sees huge drop over coronavirus

First quarter witnesses 108 investment deals with startup funding rising two percent year-on-year.

Foreign, Gulf funds’ outlook extends bearish run on QSE

Trade turnover grew amidst lower volumes in the market, where industrials and realty sectors together accounted for more than 67% of the total trading volume.

Oman Insurance fast-tracks $27.2mln payments to medical providers

Hospitals and medical providers across the UAE have welcomed this step by Oman Insurance

Property prices in UAE continues to drop

Dubai house prices fell by 4.05% y-o-y in 2019

Dubai property market sees 5,000 new homes delivered in Q1-20

Slower pace will ensure there will not be a flood of new homes delivered without buyers

HPE Financial Services Offers $2 billion to Help Customers and Partners Weather COVID-19 in the UAE and across the Globe

“By dedicating $2 billion in financing and leveraging its broad portfolio of flexible payment solutions, HPEFS will help business leaders navigate through the impact of COVID-19 on their markets.”

Turkey said to seek FX swaps with G20 members including US

Since the Trump call, Turkish authorities have been talking to other G20 central banks to be included in arrangements that allow monetary authorities to exchange currencies, the people said.

Dubai's Delta Partners on the verge of joining FTI Consulting

As well as concentrating on the TMT sector, Delta is also a functional specialist, with a focus on strategy and management consulting and corporate finance & investment banking.

Kuwait's wealth fund on standby as oil price, virus hit finances

Kuwait has agreed a stimulus package to protect jobs and stabilise food prices during the pandemic but the Gulf nation is being badly hit by the oil price war between Saudi Arabia and Russia

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