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

Dubai Financial Market introduces ‘Omnibus Accounts’ for investors

This move will enhance international investors’ access to DFM’s diversified investment opportunities

Corporate loans to drive Saudi banks’ credit growth

However, relatively modest growth in profits (before Zakat) indicates the ongoing pressure on the cost of funding, according to the report

IQ-EQ expands global footprint into the United Arab Emirates

The new office, located in the Dubai International Financial Centre

Real GDP growth projected to expand by 4.3% in 2024: UAE Central Bank

For the whole year, growth is estimated at 7.6%

UAE exchange firm Al Ansari raises $210mln in IPO

The retail offer was oversubscribed 44 times

Foreigners will be allowed to own property in Saudi Arabia: REGA chief

The new law for ownership of a real estate by foreigners is in its final stages, and will be made public in a short period

UAE exchange firm Al Ansari upsizes IPO on strong investor demand

Qualified investor tranche has been trimmed

Dubai's DEPA posts higher revenue for 2022 on post-COVID recovery

Public Investment Fund’s investment has propelled growth in Saudi Arabia, chairman says

Saudi, UAE investors plan to invest in SpaceX - The Information

The funding round is expected to value the rocket maker at about $140bln, the report added

Abu Dhabi's Mubadala, Ares set up $1bln JV to invest in credit secondaries

Private credit has become a relevant and important part of institutional portfolios, the companies said

Dubai to launch new gold and silver coins

The coins will be made available for purchase after Ramadan

Dubai's highly popular d3 office district to have first residential offerings

3-tower cluster from Meraas marks d3's expansion to full mixed-use status

Bank ABC’s 2023 AGM approves US$46 million dividend on back of robust revenues and solid strategic progress

The Shareholders also approved the Board’s recommendation to distribute a dividend of US$46.4 million, an increase of 50% from last year, cash payment at US$ 1.5 cent per share, from US$ 1.0 cent in 2022.

Saudi Venture Capital launches new investment product

It aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion through investment in funds and co-investment in startups. SVC invested in 35 funds that have invested in 525 companies through 904 deals.

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