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

Egyptian tycoon and Mubarak ally Hussein Salem dies

An Egyptian court sentenced him in absentia to seven years in jail and fines totalling more than $4 billion in 2011 after convicting him of money laundering and profiteering.

Investors more bullish on UAE's economy

"By comparison, investors globally expressed much lower levels of optimism on their domestic economies and stock markets.

GCC economic growth seen at 3.2pc in 2020

With the strategic focus of achieving the region's vision of economic diversification, the premiere summit will entail the action plan to develop a pragmatic strategy and approach to achieve the same.

Qatar’s moderate debt burden to ease ‘markedly’ in coming years, says CI

“Gross government debt is forecast to decline to 39.7% at end 2021 on the back of substantial budgetary surpluses over the next years,” CI said after affirming Qatar’s long-term foreign currency rating and long-term local currency rating

Ever heard of 'proptech'? It will change the way you choose your next home

A research conducted by a global bank showed that proptech is shaping homebuyers' behaviour when it comes to renting, buying, owning and selling a property.

Five Saudi companies post $3.11bln profit in Q2-19

Saudi Telecom Company topped the list reporting SAR 2.8 billion net profits after zakat and tax in Q2-19

How Britons in the UAE are cashing in on the pound's plunge

Sterling's woes have handed a significant pay rise to residents in the Emirates converting their dollar-linked dirhams into the UK currency

Top 10 new DIFC initiatives for entrepreneurs so far in 2019

Since the beginning of 2019, DIFC has undertaken a series of initiatives to address challenges and roadblocks that lie in the path of entrepreneurs and the 2000+ firms working out of the centre.

Why 2019 is a Crucial Year for Wealth Management

What emerges from this year’s World Wealth Report, published on July 9, is clearly the picture of a fertile ground for an accelerated innovation process, that requires two other dimensions to be disrupted: Strategy and Management Culture.

Creating a future through sustainable financing

The bank’s Regional CEO for Africa & the Middle East, Sunil Kaushal, helps shed light on these initiatives.

GFH posts $49mln first half net profit

For the second quarter of 2019, revenues rose 34.4%

SAIB swings to losses in Q2

Saudi Investment Bank (SAIB) disclosed its interim financial results for the second quarter of 2019.

What the Latest Streak of Mega-Investments Means for Israeli Tech

Another Israel-linked company, New York-based real estate company Compass, founded by Robert Reffkin and Israeli entrepreneur Ori Allon, announced a $370 million round in late July.

Egypt: “banks well placed for growth” says Arab African International Bank’s Elwy

Since then, he adds, banks have improved their performance, supported by a more attractive operating environment.

UAE’s 18 national banks post $6.6bn in H1 profit

Emirates NBD was ranked first in terms of profits, reaching Dh7.5 billion at the end of June, compared to Dh5 billion in the same period last year.

Saudi Arabia Leads Gulf IPO Activity

The IPO deal value raised in the first half of 2019 has already nearly surpassed the total deal value raised in 2018.”

UAE retail gold rates hit a five-year high

In a 5-year peak, retail gold rates 50 fils from touching Dh172/gram for 22k VAT excluded

EFG Hermes records another quarter of strong top and bottom line growth in 2Q 2019

The solid increase in profitability for the quarter was largely driven by higher net profits recorded by the Group's Investment Bank and NBFI platforms

GCC Islamic bank mergers likely to increase, says Fitch

New research says consolidation should ultimately be positive for the Islamic banking sector by creating larger, stronger and more efficient banks

Egypt’s headline inflation slows to a four-year low of 8.7% in July

Egypt is approaching the end of an IMF-backed economic reform program

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