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

Dubai leads GCC stock market decline in early trade

Dubai bourse led the regional fall, losing 1.8 per cent to 1,886.5 points in the morning trade.

EMEA emerging market banks face rising risks amid lockdown, oil shock - Fitch

86 out of 100 EMEA EM bank ratings reviewed had negative rating actions

Turkey crunch would pack only weak punch for emerging markets

Reverberations this time might be of even lower magnitude, because investor positioning in emerging markets overall and Turkey in particular looks dramatically different from the summer of 2018.

Dubai registered record property sales in Q1 2020

COVID-19 pandemic impacts all segments of the UAE property market

Turkey to add $3bn to state banks’ capital over virus

Fresh capital will be used to help companies hard hit by the loss of business after lockdowns hampered manufacturing and retail industries.

Société Générale joins EBRD in financing Izmir metro

The investment project is part of the joint work of Izmir and the EBRD to improve the urban environment and people’s lives in the city.

UAE banks disclose Dh412 million exposure to Phoenix and associate firms

First Abu Dhabi Bank has Dh269 million exposure to agri-commodities trader

Dubai does mortgages the 'e' way

This ensures number of visits to get registration done are reduced for property owners

Lothian Pension Fund urged to divest from Bank Hapoalim

We’re naturally disappointed with these developments

Mubadala begins marketing three-tranche dollar bonds - document

All three tranches will be listed on the London Stock Exchange and the Formosa tranche will also be listed on the Taipei Exchange.

EBRD extends US$125 million in new funds to Turkey’s Enerjisa

EBRD funds will support the implementation of the company’s investment plans during the period of uncertainty.

Bahrain Clear inks deal with First Abu Dhabi Bank

First Abu Dhabi Bank is the UAE’s largest bank and strongest financial institution in the Middle East

IMF Response Signals Positive Agreement with Lebanon

The plan was “an important step forward.”

Bahrain offers riskiest Eurobond since market hiatus

The kingdom has attracted more than $7.5 billion in demand so far after offering a substantial yield premium for its 10-year notes and Islamic securities

Nakheel cuts salaries as pandemic hits Dubai retail and real estate

“We are extremely grateful to our employees for their dedication, commitment and understanding during this difficult phase, which we can – and will – overcome.”

Abu Dhabi sets up Dh550m fund to help out local exporters

This will be used to ease cash concerns of overseas companies placing orders

Middle East development banks shell out millions in trade finance relief

The bank says the increase was based on a recommendation by Apicorp’s board of directors and boosts its financial resiliency, as well as its ability to invest in the energy sector.

London property sales intact for Middle Eastern investors: Knight Frank

A number of simultaneous exchanges and completions are also taking place, which minimise the risk of anything untoward taking place between these two stages, which are usually several weeks apart.

Qalaa Holdings moves to losses in 2019

The standalone financial statements of Qalaa Holdings showed a 52% year-on-year (YoY) rise in its net losses during 2019.

SABIC cuts capital expenditure after Q1 losses

SABIC said that, despite the improved business climate in China, it anticipated negative impact elsewhere in the world on demand and market sentiment in the second quarter of 2020

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