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

GCC central banks raise interest rates to fight inflation

The Central Bank of Bahrain (CBB) was the first to announce the rate hike in the Gulf region

CBUAE Governor discusses further enhancements of payment systems

Consumer protection, and banking sector recovery with bank CEOs

Oman sticks to target of implementing income tax by 2024

The government is evaluating the structure and thresholds for high income, says minister

Dubai will see more fast-growing tech firms list in five years – DFM chairman

Helal Saeed Al Marri said he was confident that, as in other regions around the world, more and more tech growth companies will start to list in Dubai

Total of EGP 2.5bn paid in insurance from April to June 2022: FRA

Mohamed Farid, Chairperson of the FRA, issued periodic report No. 6 of 2022, regarding the re-evaluation of the values of insured assets and the amounts of insurance compared to their market values, in a manner that preserves the rights of policyholders

EKP announces merger

Walid Merhej Law Firm merges into El-Khoury & Partners Legal Counsel effective September 1, 2022

UAE, GCC central banks likely to hike interest rates again in the coming week

Following stronger-than-expected inflation data, the US Federal Reserve will raise the Fed Funds target rate by 75bp

Saudi Arabia’s inflation ‘within reasonable levels:’ SAMA

In August, the Kingdom’s consumer price index was up 3 percent, showing an accelerating rise from 2.7 percent increase in July

Tunisia expects deal on IMF loan in weeks, central bank governor says

The government and the powerful UGTT union last week signed a deal to boost public sector wages by 5%, a step that may ease social tensions.

DIFC reports business growth in H1-22

The strong performance came in line with DIFC's Strategy 2030 to strengthen the future of finance and boost its economic contribution to Dubai, according to a recent press release.

QIIB holds workshop for board, senior management on QCB governance regulations

The workshop also discussed the increased attention to the board’s environmental and social responsibility, the support granted to such projects, and the bank’s plans related to these two items, which became at the top of the agenda for many i

ADGM’s financial regulator publishes guiding principles on its approach to virtual asset regulation and supervision

Recognising the transformative power of the virtual asset (VA) industry and its potential to facilitate access to innovative financial services, ADGM’s FSRA outlines its expectations and risk appetite for regulating virtual asset service providers

Gold flat ahead of inflation with more big rate hikes looming

Bullion has mainly fluctuated between $1,700 an ounce and $1,720 in September after several months of declines

UAE Cabinet approves new law on public-private partnership

Licencing of the first electric cargo aircraft in the region also gets go-ahead

UAE among top 10 in 432 global indicators: Federal Competitiveness and Statistics Centre

FCSC said that according to the IMD's WCY, the UAE ranks 12th globally, with a score of 88.67 (out of 100) and is leading the MENA region

Top UAE lawyer Habib Al Mulla parts ways with Baker Mackenzie

Decision was after remarks made by the prominent lawyer on Twitter

Dubai: Number of new businesses in DIFC up 22% in June

FinTech, innovation firms post 23% growth

Saudi Export-Import Bank signs MoU with BOK International Bank (Bahrain)

The signing of the MoU with BOK International Bank (Bahrain branch), comes in line with EXIM Bank’s continuous efforts to increase support for the export of Saudi non-oil services and products, and to enhance cross-border trade: official

Abu Dhabi Development Fund financed projects worth $202m in 2021

Government entity's finances, investments and bank deposits stood at $42.7bn as of December

QFMA issues covered short selling rules, securities lending, borrowing rules

The importance of the new rules is that they add new financial services activities aimed at increasing the volume of activities

Legal, Tax, Regulation & Compliance