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

Credit profile of GCC banks to weaken over COVID-19, lower oil prices

Despite unprecedented stimulus, credit profiles are expected to weaken

QSE gains more than 100 points on buy interests of domestic, Gulf institutions

Islamic stocks were seen gaining slower than the other indices on the market, where local retail investors were increasingly net sellers and foreign funds turned bearish.

Dubai faces biggest risk from virus shock to economy in Middle East, Moody’s says

Dubai’s reliance on real estate, transportation and tourism makes the Middle East business hub the most exposed to the impact of coronavirus.

Gold prices going to "pop" to $2,700, easily - Frank Holmes

Holmes added that the gold miners should also perform exceptionally well during periods of upward bullion price movements.

Turkey's Akbank posts 7% drop in Q1 cons net profit

Akbank provides mostly banking services, but it is also active in the insurance sector through its branches Ak Insurance and AvivaSA Pensions and Life Insurance.

UAE doing too little to stem money laundering and terrorist finance: watchdog

The UAE has tightened financial regulations in recent years to try to overcome a perception among some foreign investors that it is a hot spot for illicit money.

Fitch: GCC bank credit profiles to weaken despite unprecedented stimulus

GCC countries announced monetary, fiscal and macro-prudential stimulus measures dwarfing any previously seen in the region.

UAE Needs To Make “Major” Reforms To Tackle Money Laundering, Says Global Watchdog

The main component of the FATF mutual evaluation report deals with the effectiveness of the systems the UAE has developed and, in that regard, the country is often found wanting.

Capital Intelligence affirms QIIB rating at ‘A’ with stable outlook

Capital Intelligence noted the bank has good liquidity, and enjoys strength in the retail sector, and most of the bank’s deposits are from the local market, even as non-domestic deposits make up a minimal share.

Dubai at Risk as Coronavirus Poses Shock to U.A.E. Economy, Says Moody’s

Dubai’s reliance on real estate, transportation and tourism makes the Middle East business hub the most exposed to the impact of coronavirus in the United Arab Emirates, according to Moody’s Investors Service. “The coronavirus outbreak

Saudi banks need to accelerate digital transformation plans amid COVID-19 disruptions

KPMG in Saudi Arabia has published its analysis of COVID-19 impact on the banking sector and the potential countermeasures to cope with the new normal, based on the results of a high-level survey and discussions with C-suit executives in the sector.

UAE's Sharjah, Ras Al Khaimah to negative

In response to the outlook change, the Ras Al Khaimah government said it was in a strong fiscal position to weather global economic conditions.

StanChart’s Troubled Loans Top $600 Million on Corporate Woes

The exposures to problem companies are unlikely to lead to complete write-offs of the loans.

Qatar's consumer sector one of the least affected by the pandemic: KPMG

Qatar government has announced a QR75bn stimulus package to the private sector, apart from an additional QR10bn fund support to the QSE.

Is your low-carbon portfolio destroying the planet?

What leads to this counter-intuitive outcome?

Banking's New Reality: Getting Remote Work Right (Part 1 of a Multipart Series)

Here are the common missteps banks should avoid to successfully enable remote work and digital operations, during the pandemic and beyond.

Harnessing the power of digital

Wael Salem, Chief Executive Officer, Tradesocio, on the new era of bespoke investment

COVID-19 Spot Survey: Implications on Globally Mobile Employees

Assignees remaining in host country locations are being directed to follow local country mandates including stay-at/work-from-home and self-quarantining as needed.

The gold price could rise to $3,000 say analysts. Here’s how I’d aim to profit

If you’re bullish on gold and expect the price to keep rising, there are a number of ways to gain exposure to the commodity.

Gold: One More Chance To Get On Board Next Week

If we stay isolated for many more months, we could see a major deflationary cycle. Governments are spending record amounts of stimulus, while printing record amounts of money.

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