Net foreign assets of Egypt’s banking sector up $3.30bln in September
The net foreign assets of Egypt’s banking sector increased by the equivalent of about EGP 51.958bn during September 2020, the…
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Middle East: Why are the rich worried about their children running their businesses?
With around 25,000 high net worth individuals in Europe, Africa, Asia and the Middle East estimated to transfer $15 trillion…
MedGulf posts 44% profit hike in Q3
The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) posted a 43.8% annual growth in net profit before Zakat during…
Kuwaiti Banks' Asset Quality and Profitability Under Pressure
Kuwaiti banks' standalone credit profiles are likely to weaken further as a result of the coronavirus crisis and lower oil…
Emirates NBD makes bid for sale of Blom Egypt
Banking sources revealed that Emirates NBD, listed on the Dubai Financial Market, is in talks with Lebanese Blom Bank management…
Ralph Hamers' First Task: Expansion to Qatar
One of Ralph Hamers' first tasks as chief executive of UBS was to sign an agreement the bank had reached…
Dubai is the wealthiest city in the Middle East, new data shows
While the global pandemic has affected the economy worldwide, new data has shown Dubai is the wealthiest city in the…
Oman to introduce income-tax on wealthy individuals
None of the seven Gulf Cooperation Council states, all oil producers, currently collect income tax from individuals. Oman's Sultan Haitham,…
UAE billionaire Hussain Sajwani eyes more investments outside Gulf
UAE-based The DICO Group, the private investment vehicle of Emirati real estate baron Hussain Sajwani, is eyeing more investment opportunities…
Mubadala takes stake in Group 42
Mubadala has announced that it will become an investor in Group42 (G42), the Abu Dhabi-based artificial intelligence and cloud computing…
Trust key to wealth transfer among Mideast families
Building trust and understanding between generations will be key to ensuring the success of wealth transfer among high net worth…
Eshraq Investments posts Q3 net profit of over $6m
Eshraq Investments, an Abu Dhabi-based investment company, has reported a net profit of AED23.06 million ($6.27 million) for Q3 2020,…