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

Deloitte advises United Arab Chemical Carriers on landmark merger with United Overseas Group Ltd

UOG to acquire United Arab Chemical Carriers

Rollover risks loom for Turkey's banks

The switch has jolted markets, with the lira and Turkey’s bonds tumbling in value and interest rates soaring on overnight lira swaps, used for hedging and shorting by overseas investors.

Qatar Credit Bureau launches new service providing credit reports online

She noted that the new services, which will launch Sunday, will enhance the bureau’s role in supporting the financial system and providing accurate and comprehensive credit information.

Saudi Central Bank grants licenses to 2 more payment companies

This brings the total number of payments companies licensed by SAMA to 13 companies, in addition to two payments companies obtaining initial approval.

Saudi fintech Geidea gets SAMA license to process payments

Company plans rollout across other MENA markets in 2021

DIFC wins membership in global financial centres' alliance

DIFC said it will use its membership to collaborate with members who represent other leading global financial centres including London, Frankfurt, Paris, Tokyo and Toronto

Saudi Arabia creates database of privately financed projects

The body will also review any complaints that emerge over privatization procedures

Central Bank of Egypt offers EGP19 billion worth of treasury bills

Governments resort to financing budget deficits by offering bonds and treasury bills as debt instruments, and public banks are their largest buyers.

Businesses need to be VAT ready: Experts

Once the VAT becomes live in Oman and Qatar, then Kuwait will be the last GCC country to implement it, she added.

IMF urges Bahrain to implement fiscal reforms, contain rising public debt

Bahrain responded quickly to contain the COVID-19 pandemic and has launched a widespread vaccination campaign, but the crisis led to a 5.4% economic contraction in 2020, with the non-oil economy shrinking by 7%

UAE Banks Federation's General Assembly approves strategic objectives, action plan for 2021

They ratified the budget for 2020, and approved strategic objectives and action plan for the year 2021.

Qatar First Bank successfully exits CMRC Limited for $31.5

The bank’s recent transaction also comes in line with its plans to explore new markets and industries, and to expand its investments to new locations and regions around the world.

Luxury oasis draws elite Saudis locked in by pandemic

The Riyadh Oasis — a high-end desert retreat with palm-fringed pools, pop-up restaurants and luxury tents

Egypt's central bank keeps key interest rates on hold

The Central Bank of Egypt noted that most of Egypt’s indicators were “gradually recovering” to their pre-pandemic levels, while prospects for global economic recovery appeared to be contingent on the coronavirus vaccine rollout.

Abu Dhabi Global Market partners with OCO Global for US FDI

The business-friendly conditions attract hundreds of global companies annually.

Turkey to offer big tax breaks to firms, workers at Istanbul Finance Centre

No tax will be levied on any kind of bonds and bills issued abroad and on interest and dividends paid for lease certificates, Hürriyet said.

Turkish Central Bank's rate hike surprises, pleases economists

Economists laud 200-basis-point interest rate rise as important move in fighting inflation

GCC Quarterly Review - Q1 2021

Enhanced data protection regulations came into force in the Abu Dhabi Global Market in February 2021.

A fundamental change to doing business in the UAE: The new Economic Substance Regulations (ESRs)

This new legislation was sufficient for the EU to remove the UAE from the EU blacklist in late 2019.

UAE central bank issues new rules for payments systems in country, settling dirhams overseas

Regulations important milestones to reach objective of providing robust, efficient and accessible financial infrastructure

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