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

Qatar ADR: scope to resolve construction claims

Often claims on construction projects arise because of the changes to the original scope of work, known as variations.

Turkish State-Owned Banks On Lending Spree To Stave-Off COVID-19 Crash

But a surge in lending – particularly from state-owned banks – and government decreed reductions in local interest rates mean that many companies will be able to refinance their debts.

Khaleeji Commercial Bank issues $159mln sukuk

The transaction will significantly strengthen the lender’s financial position

Bucheeri: A quantum leap in Bahrain digital banking services

Experts discuss performance changes in the Bahraini business sector due to COVID-19

Bahrain's GFH Financial subsidiary finalizes $159mln sukuk issuance

GFH is listed on Bahrain Bourse, Kuwait Stock Exchange and DFM

Kuwait: NBK’s AGM was held with a 77.86% quorum and approved all BOD’s proposals

Total assets grew by 6.7% y-o-y, reaching KWD 29.3 billion and equity attributable to shareholders stood at KWD 3.21 billion.

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.

Gulf economies have a head start

The region has some inherent advantages that are likely to hold it in good stead in this recovery phase

UAE gov reviews efforts to deal with impact of pandemic on economy

Nearly 10,000 SMEs benefit from the AED 50 billion Targeted Economic Support Scheme provided by the Central Bank

UAE oil trader GP Global files complaints over employee fraud

A detailed investigation is continuing on the methods of the fraud, “the individuals and entities involved, and the impact of the fraud” on GP’s business, the company’s letter said.

IMF bailout may be half what Lebanon sought when the talks began

The government and local lenders are still hashing out a compromise over calculating losses in the financial sector after their differences set back progress with the IMF.

Aamal reports gross H1 profit of QR154.8m

To support our valued retail tenants during these hugely challenging times, Aamal approved the waiver of rents for our retail units during the second quarter of 2020.

Turkey to Increase Censorship on Social Media Content

Companies could face fines, the blocking of advertisements or have bandwidth slashed by up to 90 percent, essentially blocking access, under the new regulations.

Bahrain to allow private employers to hire foreigners after four-month suspension

Beginning Aug. 9, employers in the private sector can resume hiring workers from abroad.

Employment disputes in Dubai and the DIFC courts

Regardless of the court system and procedure that will apply to the claim, the company will face certain obligations and financial costs.

Turkey under pressure as inflation forecasts rise

Economists expect higher inflation by year’s end, after it edged up to 12.6 percent in June.

Walkers Advises The Commercial Bank (P.S.Q.C) of Qatar

The Walkers team was led by Hong Kong partner Nicholas Davies and Bermuda partner Adam Bathgate with assistance from Hong Kong associate Sonya Saxena.

New EBRD loan of €40 million to Turkey’s Aklease

The EBRD financing will also strengthen the resilience of the financial sector and support Aklease as a successful firm in a challenging environment.

Turkey exempts foreign development banks from curbs on TL access

They will also be allowed to conduct repo and reverse repo transactions at the bourse, and lira depo transactions with domestic banks.

Dubai Economy and Emirates NBD go live with UAE KYC Blockchain Platform

The project is fully supported by Smart Dubai and the Central Bank of UAE

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