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

Egypt gets most of IFC’s record $2.4b financing for Mena

The World Bank’s member financed projects worth $1.3b in Egypt, making it 46% of the total investments made in the Middle East

KAMCO issues KWD 40 million bond

The bond comprises of two tranches, fixed interest bonds with an interest rate of six per cent as well as floating interest bonds capped at seven per cent per annum.

Dubai’s ICD says to buy stake in Corporación América Airports subsidiary

Sovereign wealth fund agrees deal to buy 25 per cent of airport operator

Eagle Hills Diyar Partners With Khaleeji Commercial Bank to Provide Financing Solutions for Marassi Al Bahrain Customers

The agreement was signed by Managing Director of Eagle Hills Diyar, Dr. Maher Al Shaer and the CEO of KHCB, Mr. Sattam Sulaiman Algosaibi.

Kuwait's Agility bid for part of Abraaj's investment business

Agility submitted an "acquisition offer" for part of the Abraaj business, according to an extract of a letter dated June 19 and seen by Reuters.

Bahrain’s Bank Alkhair sells stake in Turkish investment firm

The lender received approval to transfer its 95.79 per cent shareholding of Alkhair Capital to Ankara-based A1 Capital

Qatar’s resilient economy offers better investment opportunity

The 2018 budget assumes the same conservative oil price of $45/barrel as used for the 2017 budget.

Kuwait sovereign fund's UK unit to buy NSMP for $1.7 bln

The current management team, including NSMP CEO Andy Heppel, will remain, the source said.

Qatar Re shuts down Singapore unit

This decision does not affect Qatar Re’s sister company, Antares Asia

Saudi Aramco CEO says SABIC deal would impact IPO timeline

Amin Nasser says a stake in SABIC makes Aramco less vulnerable to volatile oil prices, and would be positive for its revenue

First state-owned Chinese financial firm sets up in Abu Dhabi

Industrial Capacity Cooperation Financial Group Limited is expected to manage $2bn in investment, set to start ops by the end of 2018

Cerberus Capital walks away from offer for Abraaj funds

Liquidators of Abraaj confirm that Cerberus has withdrawn its offer for asset management platform

Bahrain's Ithmaar Holding discloses exposure to embattled Abraaj Group

Bahraini financial investment company has stakes in various Abraaj-related funds directly and through its subsidiaries

Turkish financial watchdog cancels stock market abuse decision

“The decision was taken to cancel this ruling... given the speculation and negative perceptions which arose after it was announced,” the statement said after a board meeting on July 15.

Israel bond financing of US commercial real estate - an overview

The offerings typically had interest rates ranging between 3% and 8% (unsecured bonds that are rated A locally with a five-year duration have been issued with a fixed coupon of 5% to 6%

Time to buy: The basics of financing your property

Not only is their psychological and emotional gains to owning a property anywhere in the world, in Dubai in key communities, especially in the secondary market right now, it can be extremely financially rewarding to do.

Bahrain bond rally over as Gulf bailout remains unclear

Sources say Saudi Arabia, Kuwait and the UAE are waiting for Bahrain to submit its proposal for economic reforms before giving any money

Cost of living in UAE drops as rents fall

This reflects that the country's two biggest emirates became more affordable for the residents and tourists.

AXA acquires Islamic reinsurer Emirates Re

The acquisition by AXA is subject to the approval of the Dubai Financial Services Authority and will be made through AXA Liabilities Managers’ investment vehicle.

Egypts parliament passes 11 billion sovereign wealth fund

The agency, MENA, did not specifically mention the privatization program, but said: "The fund aims to contribute to sustainable economic development through management of its funds and assets."

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