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

PIF's Lucid deal a VC success even as fund isn't among top 10 investors in 2021

PIF invested $1.3 billion for 63 percent of Lucid in 2018, when the startup was running short of money

Alpha Dhabi Holding raises stake in Aldar Properties to 30%

Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17% shareholding of Aldar Properties

Insights for investors: GCC sees fundamental shift in global capital flows in post-pandemic world

For GCC investors, the post-pandemic operating landscape is becoming more apparent as new bounds converge with already present components

Egypt to join BRICS New Development Bank

Membership of the NDB becomes effective once the admitted country completes its domestic processes and deposits the instrument of accession.

Suez Canal to establish sovereign wealth fund

The Suez Canal Authority has unveiled a plan to establish a sovereign wealth fund to shield the canal from fluctuations in global trade and crises like COVID-19.

Egypt to launch first insurance policy for citizens living abroad

The project will be carried out in cooperation with the Financial Regulatory Authority

Sharjah ruler approves $9.37bln budget for 2022

Out of the total budget expenditure, 44% will be allocated to the infrastructure sector, 27% to the economic development

Real estate is second contributing sector to Saudi GDP, housing minister says

The real estate sector provided 40,000 job opportunities in 2021

GCC BDI announces First Abu Dhabi Bank as strategic partner

This strategic partnership with First Abu Dhabi Bank aligns with GCC BDI’s objectives to strengthen corporate governance in the GCC region

Walkers Fundamentals White Paper 2021 – Regional Update: Asia & MENA

Lockdowns have oscillated between full, partial and non-existent.

Kuwait’s Warba Bank lists $250m sukuk on Nasdaq Dubai

The listing is the lender’s third on the exchange

Ajman Bank and EDB collaborate to offer credit guarantees and co-lending support to SMEs

The Ajman lender will offer up to $2.72m in financing to an SME, with 50% of the amount either guaranteed or co-lent by EDB

Global Bond Winners for 2021 All Came From Emerging Markets

A deeper look into 2021 performance shows the top performers have mostly fallen in price, but coupon returns were high enough to offset these losses.

MIS, Al-Rajhi Capital to launch $266m Shariah-compliant investment fund

MIS was established in 1979 in Riyadh and it is the Kingdom’s first listed company in the category of IT.

KPMG records strong growth in FY21 in the UAE

KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021

Amaar Real Estate and McKinsey & Company sign agreement

As per the agreement, the globally leading consulting firm McKinsey will develop the strategy and a business plan for the establishment of Amaar capital

Foreign institutions remain bullish on Qatar bourse: QNBFS

Of the 47 traded companies, 12 ended the week higher, while 35 ended lower.

Group ONE Closes US$150 Million Equity Financing Round Led by Guggenheim Investments and Qatar Investment Authority

ONE's latest equity financing round reflects the strong momentum the Company has generated as it positions itself for significant opportunities in 2022.

Saudi Arabia’s Jadwa launches $66.6m fund to invest in property market

Al Shorfa Investment Fund aims to develop multiple commercial complexes in Riyadh and Jeddah

Saudi British Bank sells stake in Wataniya Insurance for $21.3mln

The stake represents 20% of Wataniya's share capital

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