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

Bahrain economy ‘expected to recover in 2021’: S&P

S&P has forecast Bahrain’s real GDP contracting by 5% this year

SAMA’s miscellaneous assets soar 3,344% in a year

The value of the assets in local paper currencies is amounted to SR31.43 billion, while the coins amounted to SR25 million.

EBRD, EU help improve telecommunications services in Jordan

The availability of affordable high-speed broadband will benefit local small- and medium-sized enterprises (SMEs) as well as households.

EIB provided €1.7B funding to support Egyptian SMEs

Another cooperation agreement was signed regarding the feasibility study for the project of rehabilitating the second line of the Cairo subway with an amount of €1.2 million.

Saudi fund raises ownership stake in ACWA Power to 50%

PIF, which manages $360 billion worth of funds, pursues a two-pronged strategy — building an international portfolio of investments and investing locally in projects

‘100% renewable energy’ luxury resort in Saudi Arabia will use 1,000MWh battery storage system

The site is expected to have an initial demand of 210MW and the consortium was awarded a 25-year contract.

Aldar launches Noya on Yas island

The community features townhouses and villas, with prices starting from AED 1.49 million

Saudi Aramco targeted by climate action investor group

Climate Action 100+ has more than 500 investors and $47 trillion in assets

UAE’s Fruitful Day raises over Dhs3m to fund expansion

The company will use the funds for horizontal and vertical expansion

Turkish economy faces another year of turmoil

Ankara’s growth strategy — based largely on easy credit — is well past its expiry date, analysts warn

GFH successfully closes US & Global Tech opportunities subscription

The investments have remained relatively resilient during Covid-19 and are expected to perform strongly as the businesses continue to build on the large addressable market opportunity

Emaar's founder Alabbar sees situation getting better in 9 to 12 months

Shopping malls, restaurants are doing relatively well, says Mohamed Alabbar, founder of Emaar Properties and e-commerce platform noon.com

Dubai’s SHUAA targets citizenship-for-investment market with $118m fund

Asset management firm has entered a new partnership, with its first project in Montenegro

Abu Dhabi, Oman Trade Grows 38% To $1.24B In 2020

The General Administration of Customs in Abu Dhabi also said that non-oil trade between Abu Dhabi and Oman through the Emirate’s ports in the past five years touched $6.44 billion.

World energy supply must be sustainable, says Aramco officer

Sector has been a ‘force for good’ amid the chaos of the coronavirus disease pandemic

Cityscape: Investors turn their sights towards UAE’s real estate sector

Real estate can play a major role in the region’s recovery even during a crisis, says PNC Menon

Dubai’s bilateral trade with Oman surges 8.4% in 2019

Oman is UAE’s second-largest trading partner in the Gulf region

Aramco bumper bond sale adds to record Gulf debt issuance

Debt issuance is expected to reach $140 billion next year, largely from the Gulf states and Latin America, according to Goldman Sachs

Saudi wealth fund to pump in $80b over next two years into home market

Tourism would obviously be a big focus area in PIF's biggest push domestically

Turkish banks may hit profit milestone in 2021 on market-friendly policies

The central bank will hold its first meeting under the new team on Thursday, when it is expected to hike the main policy rate by 475 basis points to 15%.

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