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

IMF says Egypt needs progress on fiscal and structural reform

The IMF's executive board noted "Egypt's remaining vulnerability from a high public debt burden and large gross financing requirements"

Saudi SAMA: Insurance companies must settle third party claims within 5 days if amount is below $534

The Central Bank updated the model form for compulsory insurance claims for third party vehicles, indicating that submission of application in the updated model would come into force from the middle of August

In Dubai, residents find rent renewals offer cheaper option in H1-2022

Renting new premises turns difficult as apartment asking rates climb near 30%

RAKBank reports 60% increase in Q2 net income as bad loans drop and interest income rise

Group remains focused on growth in corporate, business and retail banking segments amid continued economic growth momentum in the UAE

QFC report reveals investor confidence in Qatar’s flourishing digital sector

A total of 48 countries were represented by the firms registered with the QFC from 1 January to 30 June 2022

Dubai billionaire to build Africa’s tallest building in Zimbabwe

The $500mln Zim Cyber City is a mixed-use hi-tech park on the outskirts of Harare being developed by UAE-based Mulk International

Markaz report forecasts positive outlook for Kuwait real estate sector after modest rebound in H1 2022

On the back of high oil prices and recovery in non-oil activity that signal sustained acceleration in national economy despite rising inflation

Abu Dhabi records over AED 22.5bln total of real estate transactions in first half of 2022

Confidence among investors indicates the market's attractiveness and a sustainable growth trajectory

EFG Hermes successfully concludes advisory on Orascom Development Egypt’s flagship project “O West” EGP1.5bln financing

The financing of O West will help accelerate the construction of the launched phases allowing it to commence unit deliveries in Q1 2023

Luxury stores hold premium space in Middle East retail sector

The Kingdom is on top of the agenda for many brands.

Kuwait sovereign wealth fund fires head of London office

Saleh al-Ateeqi’s tenure at secretive investor characterised by high staff turnover and legal battles with former employees

Watch: On gold imports, UAE to bring tough rules on sourcing

Effective Jan. 2023, rules outline what related businesses need to do on gold shipments

Prince Alwaleed's Kingdom Holding invests $268m in Europe's M&G

Riyadh company is focusing on investments in 'global market leaders'

Saudi Arabia leads GCC with 77% growth in project contract awards in Q2

MEED previously reported that three out of the ten big projects awarded in the Kingdom were for the NEOM project.

Moody’s expects Saudi economy to grow an average of 3.9% for next four years

Some of the challenges faced by Saudi Arabia include its high economic and fiscal exposure to declines in global oil demand and prices, longer-term risks stemming from the global carbon transition and challenges posed by elevated unemployment, the report

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