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

State-owned firms plan to raise fund from abroad

This is a diverse pool of fresh liquidity, which helps ease pressure within the domestic financial market.

Abu Dhabi's Aldar Properties Q2 net profit up 9.7 pct

SICO Bahrain forecast Aldar would make a quarterly profit of 384.1 million dirhams.

Silver Linings Playbook: Gulfside

The full economic effect will become clear only after a few months, as the U.K. economy is expected to slows and the twin trade and budget deficits grow.

Turkey Unveils Draft Details of Planned Sovereign Wealth Fund

That company would create another entity, Turkiye Varlik Fonu, or Turkey Wealth Fund TVF, and other funds as it sees necessary, according to the draft.

IPOs muted as volatility weighs on investors

Both companies are listed on the Saudi bourse Tadawul, audit and assurance services firm PwC noted yesterday.

Weak oil and global bourses pull down Gulf; Egypt rises

The Saudi index sank 1.2% as petrochemical giant Saudi Basic Industries fell 1.5% and Saudi British Bank lost 2.7%.

GCC bonds & Sukuk market gets a new life in Q2

Bank Al-Jazirasuccessfully issued a US$533 million 10 year Sukuk, with an option for the lender to redeem the Sukuk after five years.

Govt wakes up to plight of Pakistanis in Saudi Arabia

Most of these workers are in a fix since they do not have enough money to travel home, nor can they legally stay in Saudi Arabia because of which most are confined to company-owned camps in different parts of the kingdom.

Qatar’s real estate price index witnesses steady decline in Q2

Enquiries with market leaders suggest that there is a lull in the real estate market.

UAE’s Property Loans Improving Despite Price Slide-IMF

The IMF revealed, however, that non-performing loans in the construction and real estate development industries saw a significant decrease from 12.3 percent of the total in 2013 to just 7.5 percent in March 2016.

Mumtalakat acquires an equity stake in Italy’s KOS Group

The sovereign wealth fund says it has a “significant” minority stake, but did not elaborate further.

Award number seven and eight for Sidra Capital in 2016

These two recognitions make it eight awards in total for the Saudi based financial services company in 2016.

Aramex founder sells entire stake to Boson Ventures

Aramex said last week that it recorded a 24 per cent growth in net profit for the first half of this year to Dh222.5 million.

Demography to play a crucial role in GCC economic growth: Indosuez Wealth Management

The latest Indosuez Wealth Management research report, ‘Macro Comment – MENA Update’, noted that the demography of the GCC region would play a crucial role in the economic growth and future of the region.

Emaar Properties records 12% growth in net profit to AED 2.475 billion in first half 2016

Launch of The Tower in Dubai Creek Harbour marks a new milestone in development strategy of Emaar

Saudi banks’ first half results point to increasing pressure on profitability

The first half profits of the listed Saudi banks marginally rose by 0.75 per cent to SR23.3 billion, compared to SR23.1 billion in the same period last year.

Jordan's Housing Bank H1 net profit up 8 pct

The bank's main shareholder is Qatar National Bank, with a stake of over 35 percent.

Now Is A Good Time To Invest In Dubai Property

“These include the continued diversification and open nature of the Dubai economy."

Mubadala to acquire 20% take in Investcorp

Mubadala's investment strengthens Investcorp's shareholder base

Malaysian Bank Cimb In Sales Alliance With Dubai Fund

The alliance will involve "multiple levels of collaboration," including cross-marketing and distributing each other's products and services

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