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

London firm sells Abu Dhabi bank site for US$26.6m

The company said in February that it sought at least GBP£21m.

Gulf Finance Says Obtains Approval for Sukuk Restructuring

Holders of the Islamic bonds agreed to extend the maturity to June 2018, with a two-year grace period for the principal repayment amount in 2012 and 2013, the lender said in an e- mailed statement.

Khalifa Fund and NBAD to launch Dhs500m SME Fund

The Fund will have an initial equity size of Dhs80m with matching commitments from KFED and NBAD. The size of the Fund is expected to reach Dhs500m.

Mumtalakat supports GCC future entrepreneurs conference

The event is being held under the patronage of His Royal Highness Prince Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, mandated by the Ministerial Committee for Planning and Development of the Gulf Cooperation Council (GCC)

Lebanon seeks $2bn in bonds this year as yields drop

The possible sale of benchmark-size bonds depends on market conditions and the ministry has yet to appoint advisers, he said. Benchmark-size typically means a sale of at least $500 million.

Citi Ranked #1 in Global Custody Services - Survey

Citi has been ranked #1 in global custody services by the world's leading asset managers, asset owners and banks in the 2012 Global Custody Survey compiled by Global Investor.

DIFC continues to broaden strategic international ties

The MoU was signed by Mr Chris Eccles, Director General, Department of Premier and Cabinet, and Abdulla Mohammed Al Awar, Chief Executive Officer of DIFC Authority

Gulf-based SWFs, Family Offices increasingly interested in alternative investments

Their need for diversification, increased yield in the current low interest rate environment, increasing sophistication, together with the fact that they are uniquely placed to deploy long term capital, makes them well placed to continue and increase thei

Dubai Islamic eyes benchmark Islamic bond

Roadshows for the bond sale will begin in Kuala Lumpur on Thursday and end in London on Monday, a document issued by the lead banks on Tuesday showed.

Rise in Dubai property deals with banks aiding clients offload units

One such example is the Qatari lender Doha Bank, which yesterday issued tenders in the UAE’s local dailies to offload eight apartments in Emirates Garden cluster of Jumeirah Village South.

Warba Bank's $33 million UK property deal‎

The building enjoys excellent characteristics and is distinguished by its unique and award-winning design. It provides long-term income and a security of a world class covenant for Warba Bank.

DIFC Investments has likely sold Smartstream - JP Morgan

DIFC Investments (DIFCI), the investment arm of the company running Dubai's financial free zone, has likely sold software company SmartStream Technologies, resulting in a $68.8 million impairment provision, JP Morgan said in a research note.

Hedge fund fees get makeover as investors take upper hand, reveals Towers Watson research

Only around one-third of outperformance from skill should go to hedge fund managers in the form of fees, with the rest going to the investor according to new research from Towers Watson, the global professional services company.

First REIT in United Arab Emirates on the Drawing Board

As a first step towards creating the REIT, National Bank of Abu Dhabi states in a news release from Dubai that it is setting up a fund and partnering with Gulf Investment Corp. of Kuwait to find properties in the UAE.

KHCB finances state-of-the-art real estate development in Dubai

Commenting on the agreement, Mr. Fuad Taqi, Deputy General Manager, Commercial Banking of KHCB said, "We are very pleased to be working with the Meydan Group.

Barclays Mideast CEO upbeat on bond market

In an interview with Zawya Dow Jones, Vitalo said the longer term outlook for bond issuance in the region was good as European banks-traditionally large lenders to the Middle East-struggle with a crippling debt crisis, forcing local companies to look at a

FOREX.com launches Arabic language version of its trading platform

With FOREXTrader PRO, clients in the region will be able to trade in more than 70 markets, across forex, global indices and commodities including gold, silver, oil, natural gas and major agricultural commodities, all through an Arabic interface. Education

Qatar, Barclays in Asset-Management Deal

The deal also cements the relationship between Barclays and Qatar, which through its sovereign fund was one of the top three shareholders in the British lender as of end-2011, with a 6.8 percent stake.

Credit Suisse’s Asset Management Division Releases the Q2 2012 Edition of the Alternatives Quarterly

Mr. Keitel views the recent correction in risky assets not as a reversal of fortune for the markets, but rather as a renewed buying opportunity in the coming weeks for investors, especially in light of what he believes are attractive valuations.

Aldar reports first quarter 2012 financial results

Revenue for the quarter increased to Dhs3,589.1m (Q1 2011: Dhs784.7m). The Company recognised Dhs3,229m (Q1 2011: Dhs470.9m) from the sale of land plots and completed residential units and development management fees, of which Dhs2.2bn was related to sale

Alternative Investments