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

Israel's Harel to buy Eliahu's life insurance business

The deal is conditioned upon Shlomo Eliahu acquiring control of Migdal from Generali, Europe's No. 3 insurer, as well as regulatory approval.

Dubai property valuations drop 26% in H1

In the first half of the year, the Real Estate Appraisal Centre (REAC) at Dubai Land Department (DLD), valued 1,090 properties at the request of property owners with a total value of AED42bn (US$11.4bn), the WAM news agency reported.

Kuwait-linked bank buys $52m UK retail asset

The sharia-compliant investment bank bought the 107,000 sq ft building for £33.4m from accountancy firm KPMG, receiver to a failed Irish property company.

Beltone Financial and Altree Capital announce strategic alliance in Africa and Middle East

Beltone Financial, the asset manager in Egypt with over $4bn in AUM, and Altree Capital, the award-winning African asset management house, have announced the formation of Altree Beltone Capital Ltd.c

Capital Intelligence reaffirms the rating of NIG Sukuk Company

The Company's core shareholder base, which included the Public Institute of Social Securities and prominent Kuwaiti families and institutions, remained stable at end Q1 2012.

UAE's NBAD partly repays post-Dubai World govt support

The sum was part of 5.6 billion dirhams provided by the government in January 2010 as part of a wider move to support the UAE banking system in the aftermath of Dubai World's 2009 $25 billion debt restructuring standstill request.

BLME offers funding to UK property developers

The facility will be used to finance the construction of 95 one and two bedroom apartments and redevelopment of three existing properties as part of a new retirement housing development Edgbaston, Birmingham.

UAE Exchange Opens New Branch in Malaysia

After offering quality service to its customers for many years, Fast Remit SdnBhd has now become a part of UAE Exchangeand henceforth will be known asUAE Exchange Malaysia Sdn Bhd.

Arqaam Capital secures top brokerage ranking on the Dubai Financial Markets

Arqaam's brokerage business previously achieved the 12-month average number one position on NASDAQ Dubai for the full year 2011, during which time Arqaam held over 25% of market share.

UAE fund rules seen as ‘natural evolutionary development’

As reported, the Emirati Securities & Commodities Authority (ESCA) quietly and unexpectedly unveiled the long-awaited new rules at the end of July – four days after the start of Ramadan, and at a time of year when many Emiratis leave the UAE to

Bahrain National Holding H1 profit tops $2.4m

BNH is the parent company of Bahrain National Insurance (bni) and Bahrain National Life Assurance (bnl).

Qatar's fund in talks over QIC stake

QIC said it had received an offer from "strategic partner" Qatar Holding. No financial details were given.

UAE unveils tighter rules for funds

International and regional asset managers have flocked to the Dubai International Financial Centre in recent years, making it the best-developed financial free-zone in the Gulf

NBAD picks banks for 7-year bond

National Bank of Abu Dhabi, the largest lender by market value in the UAE, picked four banks to arrange a benchmark-sized bond issue which could price within a day, lead arrangers said on Monday.

Kuwait's KIPCO positive on second half; Q2 profit up 0.9 pct

Net profit in the three months to June 30 rose to 8.58 million dinars ($30.42 million), a bourse statement said, compared to 8.50 million dinars in the same period last year.

Arab Bank named best arranger for project and infrastructure finance in the Middle East

The award by Global Finance recognizes the top performers in investments in core infrastructure assets such as airports, railways, ports, power generation and transmission, oil and gas pipelines and renewable energy projects.

Abu Dhabi’s NBAD Said To Sell Benchmark-Sized Dollar Bonds

The bank, rated the fourth-highest investment grade by Moody’s Investors Service, last sold dollar bonds in March, raising $750 million from the sale of five-year debt.

Investcorp planning expansion in region

Responding to client demand and subject to regulatory approval, Investcorp is set to expand in the Gulf, while maintaining its significant historical presence in Bahrain.

49% increase in Israeli private equity activity in H1/2012

The current Survey is based on the activity of 77 private equity funds of which 31 are Israeli and 46 are foreign.

Masraf Al Rayan launches brokerage firm

The company said that ARB had already employed a team of highly-qualified professionals to extend the best Islamic investment and brokerage practices and services.

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