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

Turkish banking sector’s credit volume increases

The Turkish banking sector – including all types of lenders – posted TL 30.87 billion in net profits during the first half of 2020, according to another report from the BDDK.

Lebanese banks turning to France to outflank government rescue plan

An official at Macron’s office said it wasn’t aware of the meeting.

Qatar, US support strong and united GCC

The two sides highlighted the strength of the bilateral relationship, opportunities to further deepen cooperation to benefit both countries, and the sustained implementation of previously signed agreements and arrangements.

Forbes Identifies the Best Businesses in the Arab World

The total sales amassed by the businesses was $670 billion which represented $148 billion of net profits.

Fitch affirms KIB’s long-term A+ rating, with stable outlook

KIB’s $2bln sukuk program in 2020 supports its growth, funding, and liquidity ratios, according to Fitch

How Dubai is shaping up to be the new Silicon Valley for Indian techies

Growing trend of Indian firms working for UAE companies is reflected in the changing working week from Sunday to Thursday

Turkish companies said to seek debt restructuring as virus hits

Pandemic lockdown has piled on troubles for businesses already struggling after the 2018 currency crisis

Lebanon faces deep economic, social and financial crises, says Moody’s

The country’s institutions too weak to address these crises

Business travel in the Middle East to make a comeback in 2021?

Most people are still too worried to fly, and travel regulations such as 14 day quarantines upon entry into a country make things all the more difficult.

UAE, Bahrain eye manifold benefits from Israel ties normalization

Commercial advantages expected to flow from UAE and Bahrain’s moves to normalize ties with Israel

Head of Israel's biggest bank expects deals soon with UAE

The head of Israel’s biggest bank says he expects to strike deals soon with major lenders in the United Arab Emirates for the first time

Covid hits Saudi banks’ profitability outlook: report

The report indicates that the provisions for loans increased significantly for the banks that reported second quarter earnings.

Saudi banks face squeeze on profitablility

Provisions for impairments increased significantly as margins continued to decline

Middle East M&A deal value nosedives by over half in H1 2020

In the Middle East, the fall has been even more severe

Fitch Downgrades Arab Banking Corporation to 'BB+'; Outlook Negative

The Outlook on the Long-Term IDR is Negative.

Markaz: COVID-19 takes a toll on Kuwait banking driven by macro uncertainties and lower asset quality

The Markaz report indicates that the pandemic is expected to add considerable strain to Kuwait's banking sector in 2020 and 2021.

Hapoalim and Leumi top execs to visit UAE

On September 8, Hapoalim CEO will head a delegation to the UAE, which includes businesspeople and this will be the first-ever official Israeli trade delegation to the UAE.

Saudi economy shows positive results after reopening

With the existence of Vision 2030, Saudi Arabia effectively and quickly dealt with COVID-19 from a position of strength

How the AIIB Grows China’s Interests in the Middle East

The multilateral bank’s institutional features help entice regional players — and advance Chinese interests in the region.

Dubai Lures Wealthy Retirees

Previously tied to employment, the loosened obtainment of residency status aims to hopefully reduce flight of people and capital.

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