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

Egyptian Real Estate Consortium posts profits in H1

Egyptian Real Estate Consortium (EREC) reported a 63% Year on Year decline in its consolidated net profit in the first half (H1)

Salama announces AED11.5 million surplus distribution to Takaful policyholders for 2019

Surplus sharing is a unique benefit of the Takaful concept of insurance in comparison to conventional insurance, which not only protects policyholders against unforeseen circumstances but also qualifies them for a share in the achieved surplus of the fund

GFH reports financial results for first half 2020

Net profit attributable to shareholders was US$15.05 million for the six month period compared with US$49.13 million in the first half of 2019, a decrease of 69.4%.

Tel Aviv Stock Exchange launches TASE Up, a new platform to access tech investments

The electronic platform is expected to help companies and investors recover from the devastating impact of Covid-19

Saudi Wealth Fund Moves Billions From Blue Chips to ETFs

Many of the stocks PIF targeted in the first quarter were trading at historic lows

Abu Dhabi's Aldar Q2 profit rises 2%

The state-linked builder of Abu Dhabi's Formula One circuit made $132mln in the three months to June 30

Eshraq Investments records Q2 2020 net profit of AED 20.45 million

Announces comprehensive investment strategy and targets major share buyback

Demand for Islamic equities lifts QSE more than 49 points

The Total Return Index grew 0.52% to 18,460.46 points

Gulf International Services records 6% growth in revenue for first half of 2020

In response to limit the spread of COVID-19 pandemic and ensure our operations remained resilient, our companies implemented several measures to ensure safety of our employees and business continuity.

UAE offers investors window of opportunity into Africa

Dubai has been playing a great role as a facilitator for people that are looking to test the waters in Africa.

Swicorp announces the opening of the first cinema in Hafr Albatin City at Al Makan Mall

The REIT is scheduled to open further movie theaters in its portfolio in three other cities with the one in Riyadh launching imminently, as well as, Dawadmi and Tabouk in due course.

Abu Dhabi's Eshraq Investments to resume share buyback

Company is also seeking to 'rebalance' its portfolio between real estate and other assets

Suez Canal Bank closes subscriptions to investment fund

Suez Canal Bank chairman and managing director Hussein Refaei, added that the launch of the fund coincides with the bank’s ambition to expand its non-banking activities and keep pace with industry developments.

Saudi Arabia's Aramco raises domestic petrol prices

Aramco, the largest oil company in the world, said on Sunday that its profits had dropped to 24.62 billion Saudi riyals

Al Salam Bank Reports a Net Profit Attributable to Shareholders of BD 7.1 Million in the First Half of 2020

Total shareholders' equity at the end of the first half of 2020 decreased by 10% to BD 291 million, down from BD 324 million at the end of 2019.

State Street expands Middle East presence with office in Saudi Arabia

Having an office here is absolutely vital for us to fulfil our ambitious growth plans for the region.

Emaar Malls posts $94mln H1 net profit

The developer of several malls, including the iconic Dubai Mall, said that occupancy levels across its assets remained stable on 2019 levels

Turkey eyes more exits by year-end, investments to grow for startups

"We will hear more successful things in these fields for three to five years,”

Bahrain's ARIG slips into loss of $3.62m for first-half 2020

Net premiums more than halved to $47.2m as shadow of pandemic hangs over industry

QSE gains as Islamic equities outperform conventional ones

Trade turnover and volumes were on the increase on the market, where the industrials and consumer goods sectors together accounted for more than 60% of the total trading volume.

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