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

UK to strengthen economic relations with Gulf allies Chancellor

The special UKGCC relationships will not be affected by the Brexit, he affirmed.

Dubai Investments breaks ground on Mirdif Hills project

Two-phased project expected to be completed by Q4-2018

NBG likely to sell its insurance unit this year

NBG has agreed to sell its Bulgarian unit, United Bulgarian Bank, to Belgian bank KBC Group in a 610-million-euro deal last week.

EFG Hermes expands frontier markets division

The rollout will be modelled on firm’s successful push into GCC

Oman seeks banks' proposals for dual-tenor international bond issue -sources

One source said the government was keeping an open mind on whether the issue would be in the form of conventional bonds or sukuk.

Dubai-based Abraaj Group in advanced talks to acquire Medall Healthcare

Medall Healthcare’s existing investor Peepul Capital, which owns around 80% of the company, will sell its stake.

Banque Misr signs agreements worth $1 billion with Chinese groups

The bank is furthermore finalizing its representative branch in Russia, which will make it the first Egyptian bank to be represented in Russia.

KPMG reports 10.7 per cent growth in the Middle East and South Asia

As part of our strategy, we have also increased investments in Audit with a number of Partner appointments and added more than 300 people to our audit teams across the region.

Oman Orix raises $25m from regional banks

We are pleased to fund Oman Orix for their Leasing Finance business.

India’s HDFC opens insurance unit in Dubai

Sir Gerry Grimstone, chairman Standard Life, highlighted the importance of strong partnerships in the world of insurance business

Dubai Harbour: Sheikh Mohammed unveils major new project with Middle East’s biggest marina

The 20 million square foot Dubai Harbour project will be developed by Meraas Holding and will contain a 135 metre-high tower, Dubai Lighthouse, that will house a luxury hotel and an observation deck.

NBK Capital named Regional Equities Manager of the year

The Team has also succeeded to innovate and offer new investment solutions that best fit our clients’ needs.

Masraf Al Rayan to close brokerage business

Masraf Al Rayan has announced that it will suspend the activities of its Al Rayan Financial Brokerage Company (ARB), along with its licence issued by the Qatar Financial Markets Authority, without giving a reason.

Saudi likely to tap multiple funding sources to bridge budget gap

External borrowings vital for reducing pressure on domestic liquidity

Asma Capital in $147million deal with UAE’s Utico

The deal with Utico for a stake in its water business is done through Asma Capital managed IDB Infrastructure Fund II

Will Chinese currency swap help Egypt face dollar crisis?

On Oct. 1, the Chinese yuan was added to the International Monetary Fund's (IMF) basket of currencies

Selling prime Alpine homes is a breeze

Today, enquiries from Middle Eastern and Asian buyers are commonplace, alongside a broader mix of northern Europeans, including those from Scandinavia and the Benelux nations.

Oman Arab Bank completes perpetual bonds listing

Oman Arab Bank successfully concluded its issue of OMR-denominated Perpetual Bonds, raising OMR 30 million as Additional Tier 1 capital. The issue will boost the bank’s capital base and increase its capital adequacy ratio. The Investment Management

United Bank signs partnership protocol with Suez Canal Economic Zone

The bank will participate in financing major projects, and provide credit facilities for investors in the area.

Global events weigh on Dubai property market sentiment

The UAE property market is heavily reliant on expatriate and international buyers

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