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

Finablr faces possible insolvency; central bank seizes UAE Exchange ops

The shares have fallen by more than 90% this year

Dubai Holding and Meraas announce $270mln coronavirus relief package

Relief package for businesses or individuals affected by the outbreak of coronavirus

Oman Insurance considers bid for AXA's Middle East operations

Oman Insurance operates 12 branches in the United Arab Emirates and has businesses in Oman and Turkey.

Kamco records 18.57% profit increase in 2019; dividends proposed

The growth in profits is attributed to higher fee income and net gains from financial assets

Emaar suspends entertainment at all its attractions across Dubai

The list of establishments that will be closed until the end of March include Dubai Opera, VR Park and the Dubai Aquarium & Underwater Zoo

Oil giant Saudi Aramco sees 2019 profits drop 20% to $88.2B

In its results, Aramco blamed lower crude oil prices and declining margins for its chemical sales for lowering profits.

SAMA unveils SR50bn economic stimulus package to offset coronavirus impacts

As part of the stimulus package, up to SR30 billion is earmarked for banks and finance institutions for deferred loan payments by SMEs for six months with immediate effect.

Coronavirus, oil price collapse to hurt GCC banks’ profitability

Prolonged low oil prices to adversely impact liquidity and asset quality

Alpha1Estates: Makkah-Madinah Real Estate Index underperforms in 2019 as REITs gain

Global real estate advisory firm Alpha1Estates International said on Sunday that its real estate index for Makkah and Madinah had fallen by nearly 4% in 2019

BCG launches 2020 edition of Jeel Tamooh

BCG's empowering initiative prepares 100 high-potential young Saudi university students to be future leaders

Saudi based Alinma Investment stuns the market with their Sukuk Bond ETF launch

Coming with a management fee of 0.25 per cent per year, this is considerably cheaper than the 0.65 per cent fee charged by SP Funds which launched a rival Sukuk Bond ETF a few weeks earlier.

Kenya Re targets Egypt with Sharia-compliant subsidiary

The State-controlled reinsurer says last year’s decision to issue an additional 2.099 billion bonus shares saw its capital base quadruple from Ksh1.75 billion ($17.5 million) to Ksh6.99 billion ($69.9 million).

Dubai developers go slow with new launches, private sector leads

Slowdown can be seen as a natural move due to subdued market conditions

Kuwait's foreign reserves top $39.12bln in January

Foreign reserves grew by 1.5% monthly last January

Empowering women pays off, says founder of Dubai-based Millennial Capital

Drawing on her experience in investing in regional markets

Cavendish Maxwell boosts UAE ops with Sharjah office

The opening of the new office comes amidst a correction in prices and rents across residential and commercial real estate in the UAE.

Emaar to stop taking bookings at three Dubai hotels as Covid-19 hits demand

Bookings will be suspended at the Address Fountain Views, Vida Creek Harbour and Vida Emirates Hills from March 15 to August 31

Saudi index, Aramco rebound after oil rout nosedive

The main Saudi index had closed 7.8% lower on Monday and Aramco had fallen 5.5%

Want to make a Gulf dealmaker laugh? Ask when's the next IPO

The bankers and lawyers all agreed that no clients would be making any critical decisions until the dust settles.

Deal signed to train 11,000 Saudis in real estate sector

Applicants will not be accepted if they are enrolled on another related training program already underway

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