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

Long-term lower revenues to strain GCC spending: IMF

Cases of the virus peaked in the region around the middle of the year, in response to which GCC countries implemented stringent lockdowns and imposed travel restrictions.

UAE's Oman Insurance records its best net income in 5 years, at Dh196.5m

Cost control and cash collection helps leading insurer get over COVID-19 issues

Kuwait pension fund posts record asset gain but braces for volatility

The $132bn fund recorded 19.4% growth in assets during the first nine months of fiscal year

Saudi Arabia, Oman most exposed to diminishing fiscal uplift from SWF buffers

Lower hydrocarbon revenues will translate into persistently higher budget deficits leading to higher financing requirements, Moody's said

MENA states keen to invest in smart cities, social infra under BRI

There is also a rising interest in ‘greener’, more sustainable and eco-friendly sectors such as renewables

NMC picks advisers to explore sale of core UAE, Oman business

The sale process will run in parallel with the ongoing restructuring discussions with NMC's lenders

PwC's framework for delivering virtual healthcare strategies

Strategy and governance – As virtual solutions are now deployed throughout the region as a result of Covid-19, health providers should define the long-term strategic direction of virtual care.

Dubai's stalled skyscraper project Marina 101 close to getting new investor

Dh800m tower is at 97% completion, but delayed after developer's payment issues

Total deposits in Oman's banking sector grow 2.9% to OMR24.3 billion

The Omani oil price averaged $46.0 per barrel during January- December 2020, was lower by 27.6 per cent over the corresponding period of last year.

UAE most competitive market in GCC; 4th globally

The UAE also topped all three individual sub-indices in the region

Interview: UAE's Bee'ah to explore waste-to-energy plant opportunities in the region - CEO

The Sharjah-based company plans to make its home city the region's first to send zero waste to landfill, group CEO says

Saudi's Anaam Holding to increase capital, targets $56mln

The company aims to finance future projects, acquisitions and investments

Saudi PIF invests in NBK Capital Partners' shariah credit fund

PIF, which has largely invested in equities and infrastructure, is making a rare foray into a credit fund

Abu Dhabi to see 'spike' in new residential supply in 2021

Around 7,000 apartments, villas scheduled for delivery before year-end

Sharjah real estate transactions value record AED 15.9 billion in 2020

Al Shamsi: Sharjah real estate sector sees quantum leaps due to the incessant support of our prudent leadership

EBRD and EU to promote green investments in Jordan

The EBRD aims to build green, low carbon and resilient economies through its Green Economy Transition approach

Egypt sells international bonds worth $3.75bn

The first issuance, for $2 billion, was in 2019 and was part of the ministry’s plan to diversify its funding sources and focus on longer-term debt.

National Commercial Bank issues board circular for planned merger with Samba

NCB received yesterday the approval of the Capital Market Authority (CMA) to increase its capital from SR 30 billion ($8 million) to SR 44.78 billion, through issuing 1.478 billion ordinary shares.

7 reasons why mutual funds are great for savings

Savvy investors prefer mutual funds due to benefits like diversification and accessibility

Dubai's hospitality, residential and office real estate market

Travel restrictions and lockdowns have significantly impacted Dubai’s hospitality market.

Alternative Investments