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

UAE business conditions improve for the second month in July

Output and new business rose in last month with subdued output growth

Beirut is scarred forever, says top tech startups UAE investor

This "Hiroshima mushroom-like" explosion has killed and wounded 5,000 persons and has displaced 300,000 others, these are now left without a roof over their head.

Kuwaitization gathers momentum: 50% of expats working for subcontracting firms to be laid off

Expatriates working as experts in the ministries will be terminated gradually in a way not affecting the workflow

2020 IBM Report: Average cost per data breach incident in the Middle East stands at $6.53 Million

Healthcare, financial services and technology top the list as the most expensive industries for data breaches in the Middle East

Global oil demand outlook is improving but downside risks persist, says NBK

The estimate of the year-on-year decline in the second quarter is an eye-watering 16.4mn bpd.

'Explore financial restructuring options before it is too late'

According to Gilani’s assessment, the challenges faced by organisations can be categorised into three groups, which he refers to as the three pillars of business recovery.

UAE, Saudi Arabia, Egypt draw $11.2 billion of FDI inflows

The UAE got 41 per cent of the number of projects launched region-wide in 2019, namely 1814 projects, followed by Saudi Arabia, 513, and Egypt, 476.

RAK Bank to close 25% of its branches next month

The lender will close six branches in Dubai and one each in Sharjah, Khor Fakkan and Abu Dhabi.

JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021

Governments have been tapping debt markets to shore up finances battered by a slump in oil prices and as lockdowns to curb Covid-19 weigh on their economies.

The 10 richest people in the Middle East, ranked

The Middle East, a region that encompasses many countries, including Turkey, Iraq, Iran, Israel, Egypt, Saudi Arabia, and Qatar, is known for its oil-derived wealth.

Abu Dhabi’s ADCB to lay off 400 employees, sources say

One source said the bank was looking to close 20 branches.

Policymakers still Needed

Developed market equities returned 4.7% underperforming emerging markets which were up 8.4% led by that strong performance from China.

Momentum Builds for ESG Investment Among Global Public Investors, According To OMFIF-BNY Mellon Survey

The findings, also published in OMFIF’s latest Global Public Investor Report

Advisory City: An ecosystem for consulting firms in Sharjah

Common barriers to entry include special tax benefits to existing firms, strong brand identity or customer loyalty, and high customer switching costs.

Kuwait can become an important destination for foreign investments - UN

Al-Sheikh said: "The State of Kuwait is highly dependent on energy and oil resources for its economic income, as approximately 91 percent of the total state income for the year 2018 is generated from oil exports only

Gulf banks are weathering the pandemic storm — for now

As the banker to the Dubai establishment, that would bode ill for the emirate’s financial system and awake fears that it could be facing the kind of crisis that hit in 2009 at the height of the global financial crisis.

Oman Insurance completes 100% acquisition of subsidiary Dubai Starr Sigorta

OIC had bought 51% stake in the company in 2012

Allfunds strengthens its social commitment and joins the United Nations Global Compact

Allfunds strengthens its commitment to Corporate Social Responsibility and joins the United Nations Global Compact, the world's largest corporate sustainability initiative.

Saudi Arabia Posts $38.1B Budget Deficit In H1 2020

Saudi Arabia has raised $12 billion in international markets so far this year and has borrowed 41.1 billion riyals or about $10.96 billion in the domestic market.

Take a look inside this $33 million Dubai mansion that has two cinemas, infinity pools and is sold with a Ferrari and Rolls Royce

The home owned by Michael Adam Alibhai, is tastefully decorated with an enviable art collection.

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