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

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

Special Report on The COVID-19 Epidemic Forecasts (Issue 2)

The cumulative number of confirmed cases will exceed 2 million around Apr. 15.

Oman Insurance members staying home get access to doctors using TruDoc 24x7

In partnership with TruDoc 24x7, the access will be available to many of its customers for 30 days starting April 6th, 2020

National Bonds’ Assets under Management Valued up to AED 7.8 billion in 2019

All of these positive results are a testament to the fact that National Bonds’ strategy is working, and that its competitive rates have proven to be an attractive proposition for the local populace.

UPDATE 2-Abu Dhabi taps debt market after Qatar's $10 billion bond sale

Two sources close to the deal said Abu Dhabi was looking to raise $5 billion to $7 billion with the issuance.

Tabreed buys 80% of Emaar’s Dubai cooling business

Emaar said it had decided to sell the cooling business because it was not related to its core operations in property development

Kuwait’s Wealth Fund on Standby as Oil Price, Virus Hit Finances

That leaves the government facing a budget shortfall that needs to be financed.

UAE-based agtech Pure Harvest secures $100 million commitment from Kuwait’s Wafra, raises $20.6 million Series A

In their own words, Pure Harvest designs, builds and operates high-tech, climate-controlled greenhouse systems that convert the region’s abundant natural sunlight into premium quality, pesticide-free fresh fruits & vegetables.

Are there any safe havens in this global market crash?

Bonds, gold and cash are the traditional stores of value, but even their performance has been erratic amid Covid-19

QDB launches National Guarantee Program to support private sector

QDB will manage and issue the guide for this program, while banks operating in the country will grant financing with a guarantee from QDB.

Kuwait to borrow $6.6bln for oil projects

Loan was approved by cabinet

Aramco unit gives $2m to help fight virus

Aramco Trading Company donated to a health fund set up by the Saudi Ministry of Health

UAE citizens invest to AED1.65 billion in Abu Dhabi, Dubai stock exchanges

Total transactions in both bourses stood at AED22.36 billion in March, AED12.732 billion of which were conducted at Dubai Financial Market and AED9.63 billion in Abu Dhabi Securities Exchange.

Invest Bank reports 61% lower losses in 2019

The decrease in net losses is attributed to a decline in operating expenses

Coronavirus, low oil prices threaten GCC insurers’ earnings- S&P

S&P notes that it is still too early to assess the full financial impact on the insurance sector in the GCC

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