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

SABIC’s revenue rises by 13% to $53bn in 2022

The company’s earnings before interest, taxes, depreciation and amortization for 2022 stood at SR38.57 billion, a 20 percent fall compared to 2021.

Saudi SABIC posts 28% drop in 2022 net profit, warns of margin pressure in H1

Revenue up 13%, driven by growth projects and Aramco synergy

General Atlantic joins push for Middle East sovereign wealth

The US-based firm has been investing in the region since 2015 and has deployed about $400m in companies such as Property Finder and Network International

Banks, real estate shares weigh on Saudi; insurer lifts Qatar

The Qatari Stock index rose 0.7%, ending three consecutive sessions of losses, buoyed by its financial stocks.

Investment Corporation of Dubai joins forum of sovereign wealth funds

ICD, which owns Emirates airline, has holdings in Emirates NBD, Emaar

Dubai’s Mashreq approves $490mln dividend after profit nearly quadruples

Approved cash dividend equivalent to 90% of lender’s paid-up capital

Instagram influencer Sergey Kosenko launches property brokerage firm in Dubai

Sergey Kosenko, who has an avid Instagram base, launches property firm

Over half of Dubai property owners would sell their units this year, YouGov study shows

Future owners of Dubai residential property can make the most out of their investment, as it is estimated that the city's population will rise from today's 3.5 million to 5.8 million by 2040, according to industry reports.

Saudi Arabia pauses wealth fund plan to acquire Egyptian bank - sources

The two parties could not come to an agreement over how to value the government-owned lender due to the devaluation of the pound, and both parties are holding their positions, the sources said

Dubai's real estate market remains resilient despite global recession fear

The property sector is showing no signs of slowing down despite a sharp rise in interest from investors and buyers

GCC real estate on solid trajectory, upbeat on H1, says report

Markaz’s Real Estate Report 2023 Outlook’s assessment of the real estate market in Kuwait stated that it would moderately accelerate in H1 2023 as indicated by ‘Markaz Real Estate Macro Index’ score of 3.6 out of 5.0, while Saudi A

Prices in Dubai’s top property market to slow in 2023 but will lead globally

Last year, Dubai’s high-end homes market outperformed most of its global peers: Savills

BlackRock, Standard Chartered join talks at new debt roundtable

Participants include officials from creditor countries China, India, Saudi Arabia, the United States and other wealthy Group of Seven democracies

Oman’s Abraj Energy Services opens IPO

The IPO will also enhance economic diversification policies and attract investors from Oman and abroad.

Abu Dhabi announces flexible insurance options for entrepreneurs, investors

The insurance options are launched by the Department of Health – Abu Dhabi (DoH), in cooperation with Abu Dhabi Department of Economic Development (ADDED)

QBA, German entities discuss investment opportunities

At the beginning of the meeting, Sheikh Faisal bin Qassim Al Thani welcomed the German delegation

Saudi launches company to develop world’s largest downtown in Riyadh

The new Murabba project will feature a museum, a technology and design university, a multipurpose immersive theater, and more than 80 entertainment and culture venues

AXA Egypt wins North African Insurer of the Year at prestigious MENA IR Awards 2023

Celebrating incredible achievements

Sharjah Holding annual Board of Directors meeting

To discuss key items such as the Financial and Administrative Affairs Committee's recommendations and updates on the Matajer markets

Global alternative investor Brevan Howard opens Middle East hub in Abu Dhabi

The asset management firm is leasing space for more than 100 people at the Al Sarab Tower, Abu Dhabi Global Market

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