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

How Lebanon Will Dodge Its Looming Debt Crisis

The country has a fiscal deficit, which measures the amount the government spends more than its revenues, of 11% of GDP in 2018 up from 8.6% the prior year, according to TradingEconomics.

Saudi Arabia issues 390,000 work visas during first quarter

Saudi Arabia has issued over 390,000 work visas in the first quarter of the year according to the figures released by the General Authority for Statistics.

Ex-Emirati Chairman, Expat CEO Sentenced to 15 and 10 Years in Jail Respectively

They abused their public office and misappropriated funds

Insurance premiums in Bahrain grow 6% in 2018

Government investments in infrastructure projects have also provided new underwriting opportunities for further growth: official

DIFC rolls out ‘crucial’ insolvency law in cross-border move

New regime based on international standards to ensure business and investor confidence in the region

Oman to introduce Common Reporting Standards

The Sultanate is also taking steps to ratify the relevant instruments under the Base Erosion and Profit Shifting framework.

FMS.next has been enhanced to support PSD2 and Open Banking requirements

The solution comes with a preloaded set of APIs to cover requirements of directives, implementing all necessary security mechanisms for authentication and consent management.

MOF Debt Management Office wins three "GlobalCapital" Awards

The awards were received by Sultan Al-Khalil of DMO's Financial Institutions and Investor Relations Department and Abdulaziz AlHebaishi of DMO's International Issuances Department at the annual awards ceremony held in London

Dubai Issues New Financial Centre Insolvency Law After Abraaj Collapse

The new law introduces a "new debtor in possession bankruptcy regime" for debtors that have filed for bankruptcy but still hold assets, according to a statement on the Dubai's ruler official website.

Invest in Sharjah to hold 5th FDI Forum in November

Discussions will explore existing and emerging opportunities in major FDI sectors in the UAE and the region

Executives in Dh619m share fraud ordered to pay Dh1.24b

Ex-chairman and ex-director of government-owned entity jailed 15 years and 10 years

Tax authority looking into Israeli accounts in Cayman Islands

Thousands of Israeli-held accounts in the popular Caribbean tax haven are under review, says Israel Tax Authority Director Eran Yaakov.

Qatar imposes restrictions on UAE bank over 'currency manipulation' probe

QFC said in March that FAB had failed to produce documents relevant to the currency manipulation investigation.

Former Pakistan President Asif Ali Zardari arrested in fake bank accounts case

Pakistan’s most powerful opposition leader arrested after bail rejection in bogus accounts

Saudi Crown Prince's economic policies baffle local private sector: Report

Policies led by Crown Prince Mohammed bin Salman have alienated a once-friendly local business class

Dubai Islamic Bank Board Recommends Buying Local Competitor

The deal would create a lender with about 278 billion dirhams ($76 billion) in assets.

Shuaa Capital nears merger with Abu Dhabi's ADFG

Shuaa chairman resigns from the board to take on the group chief executive position in the combined entity

ABX wins approval for crypto asset exchange and custodian

Hirander Misra, chairman and CEO at GMEX Group and vice chairman at Arabian Bourse, believes that the partnership will bring proven market expertise and technology, with a deep understanding of the exchange landscape in the Middle East.

Qatar Imposes Additional Restrictions on UAE's Largest Bank

In a statement on Sunday, QFC said the new bar was "because FAB continues to fail to satisfy the Regulatory Authority of its fitness and propriety in respect of its conduct in the QFC".

Here We Go Again by Gary Dugan

Mario Draghi said that the Council' would use all instruments at its disposal' including a rate cut if necessary.

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