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

Dubai's Damac Properties to raise stake in overseas subsidiary to 45% from 20%

Damac halted new offplan launches in Dubai, and sees foreign markets for sales boost

DGCX Honours International Women’s Day with Bell Ringing for Gender Equality

The 2021 theme is “Women in leadership, achieving an equal future in a COVID- 19 world”.

Damac Properties increases stake in international unit developing London Nine Elms

The UK Nationwide house price index rose 0.7 percent in February compared to the previous month.

Saudi Arabia's Monshaat launches SME Bank

Small and Medium Enterprises Bank aims to bridge the financing gap for the Kingdom’s small business owners

National Bank of Umm Al Qaiwain seems to have seen off worst of COVID-19 impact

Any bounce back in economic activity will sit pretty on their near-term bottom-line

UAE firm picks Paris to sign biggest ever real estate deal

Gulf Islamic Investments will pay $301m for Altais Towers in its first acquisition in the French capital

Dubai risks driving out stock investors as top firms delist

As well as depriving investors of exposure to one of the emirate’s strongest sectors, removing a $6.3bn company from the DFM exchange may simply drive away would-be buyers, both big and small, from future offerings.

Egypt meets 100 foreign firms operating in country to encourage investment

Many of the firms attending the meeting announced plans to inject finance into the Egyptian economy

Sabbour Consulting wins bid for development in Upper Egypt

“The contract with Sabbour Consulting comes with the aim of achieving the goals that the company aspires to, in creating a unique and distinctive real estate product of civilised and social value, one that contributes positively and effectively in d

Dubai-listed Emaar Properties and Emaar Malls announce merger plans

As part of the transaction, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties

Full commercial ownership, smart data, sustainability at forefront of UAE’s business landscape

The ‘Changing Landscape of Business ownership in the UAE’ series aimed to simplify the various laws and regulations for business owners entrepreneurs in Dubai

$7.62bln in cash dividends proposed by 38 UAE listed companies for 2020

Banks are the largest distributors of profits, with eight Emirati banks reported to disburse up to $4.16bln to their stockholders

Sharjah sells $1.25 billion in bonds

$750 million is in 12-year notes at 3.625% and $500 million in 30-year bonds at 4.75%

Kamco Invest reports KWD15mn fee income, KWD2.7mn losses in 2020

The slow of business since March 2020 had a negative

Saudi Arabia dominates MENA IPO market in 2020

The fourth quarter of 2020 was the strongest for IPOs based on proceeds

Rami Beracha to Launch Pioneering Dubai Investment Fund

The new investment fund aims to connect companies and local entrepreneurs, create a global renewal center in the Persian Gulf state, and position the UAE as a center of excellence.

Driving consolidation: Dubai's Emaar set to merge its malls, properties business

Subject to regulatory approvals, shareholders of Emaar Malls will receive 0.51 Emaar Properties shares for every one Emaar Malls share

Abu Dhabi's Mubadala hires banks for dual-tranche euro bonds - document

Citi and JPMorgan were hired as global coordinators, with Abu Dhabi Commercial Bank, BNP Paribas, First Abu Dhabi Bank, ING, Morgan Stanley and Standard Chartered as joint bookrunners

Jadwa Investment launches mezzanine financing fund

The fund will provide Shariah-compliant mezzanine financing to high-quality companies through a commodity murabaha arrangement, with the aim of generating a stream of income distributions for the fund’s investors.

CBZ chair punts agritech, mining in push for UAE investment in Zimbabwe

“In particular, the UAE is everywhere and dominant,” he said. “It’s been especially aggressive through strategic investors,” he said.

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