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

Aldar’s RAK presence grows with new residential development

The 2,000 apartments represent the Abu Dhabi real estate giant’s first residential development in the northern emirate

ADGM partners with 3 banks to support businesses in Abu Dhabi

The partnerships with ADIB and RAKBANK will focus on addressing the needs of key financial entities in Abu Dhabi by providing ADGM registered and licensed businesses with preferential banking services

Qatar’s real estate firms anticipate sustainable growth

The real estate company has received many projects that are being implemented this year and the coming to expand their projects worldwide.

UAE: Gold prices drop in Dubai in early trade

Reports about Russian missiles killing two people in Poland have led to a demand for safe-haven assets

UAE, Saudi spur GCC retail sales surge to $297 billion

Going forward, retail sales in the region are set to grow at a compound annual growth rate (CAGR) of 5.7 per cent to $370 billion in 2026 with the UAE accounting for $113.8 billion and Saudi Arabia contributing $176.5 billion

Saudi Aramco to pump $7bn into biggest petchem investment in South Korea

The steam cracker is expected to process by-products from crude processing, including naphtha and off-gas, to make ethylene, and is also expected to produce propylene, butadiene and other basic chemicals.

UK asset management firm, Seventy Ninth Group expands operations into Dubai as part of global growth strategy

Family-run business opens UAE hub to build on investor networks and funds

Aramco says hydrogen talks with Japan, South Korea are advancing

Much of the gas for Aramco’s blue hydrogen will come from Saudi Arabia’s massive Jafurah field

Jordan's economy posts faster growth despite global turmoil - IMF

Ali Abbas, who headed an IMF mission, said that a post-covid recovery continued to build momentum with expected 2022 growth revised upwards to 2.7 % from a previous forecast of 2.4 %

GCC retail sector overall will see 15.7% YoY growth in 2022 – Alpen Capital

Duty free sales are also soaring in the GCC in 2022

Dubai real estate: Emaar reports $2.3bn profit in 2022

Emaar revenues reached $5.1bn in the first nine months of the year

Sohar International extends support to SQU to sponsor 7th International USERN Congress

Acting as the Platinum Sponsor of the event, Sohar International reiterated its commitment to promoting education and research initiatives that have a sustainable impact on society

CBUAE highlights new initiatives during the Insurance Sector CEO Forum

The meeting organised by the CBUAE, aimed at enhancing the dialogue between the CBUAE and the insurance sector, through the coordination with the CEOs of insurance companies to address the priorities of the sector

Kuwaiti artificial island to attract 400 development projects

Saji Island will feature food trucks, booths, exhibition areas and a viewing screen

GFH reports net profit attributable to shareholders of $66.24mln for first nine months of 2022

The Group reported net profit attributable to shareholders of US$24.06 million for the third quarter of the year

Abu Dhabi ADNOC Distribution's Q3 net profit climbs 45% to $209mln

On a sequential quarter basis, net profit came in 14% lower

Dubai to build world's tallest residential skyscraper

New hypertower with diamond-shaped spires comprises over 100 stories, featuring lavish two-bedroom and three-bedroom residences

Qatar's QIA deposits $1bln in Egypt's central bank - report

The Qatari sovereign wealth fund oversees and estimated $445 billion in assets.

UAE unemployment insurance mandatory from next year, announces ministry

Employees of private sector companies and federal government departments can subscribe to the scheme from as low as Dh5 per month

Dubai’s non-oil sector adds jobs as business activity expands in October

Firms saw cost pressures ease for the second time in the past three months

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