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

Saudi fund to offer SR3.7 billion to 500 plus small industrial firms

It will offer line-of-credit to meet operating expenses for up to three months

Abu Dhabi's ADQ in talks for bank debt - sources

ADQ has been active in the food sector since it announced in March that it acquired a 50% stake in Abu Dhabi-based agriculture firm Al Dahra Holding.

First Abu Dhabi Bank sells 1.4 bln Chinese yuan in 5-yr Formosa bonds - document

The bonds, which have a fixed rate payable annually in arrears, will be used for general corporate purposes.

UAE firms merge to create $1bn global expat advisory business

It will operate in six countries including the UK and Malaysia

Competitive Advantage: Exploring The Middle East's Potential To Become A Global Fintech Hub

Investment in Middle Eastern fintech companies is expected to grow to around US$2 billion in venture capital by 2022, which will fund 465 fintech companies, an increase from $80 million that was raised by 30 fintech companies in 2017.

Saudi property firm Amlak plans first post-coronavirus Riyadh IPO

“Being a publicly listed company will give us more visibility among our clients, will help us build our business and will also help reduce our cost of capital and boost profitability considerably,” Amlak Chief Executive Abdullah Al Sudairy tol

Oman on course for best-ever year for deals

Dealmaking is up 145% in the sultanate

Temporary committee to handle impacts of COVID-19 discusses initiatives, procedures to support affected economic sectors

The committee discussed several topics on its agenda, including the disbursement of the stimulus packages provided by the Central Bank of the UAE

Northern Trust Selected by Sancta Capital to Provide Institutional Brokerage and Global Custody Services

Appointment Supports Dubai-based Asset Manager’s Trading Programme, Driving Enhanced Efficiency, Transparency and Oversight

Abraaj ex-CEO’s alleged theft cost the firm $385m – liquidators

Naqvi is one of six former Abraaj executives who face charges stemming from the private equity’s firm’s 2018 collapse

Winning investments: UAE Mubadala's 2019 income surges to $14.43bln

Mubadala's assets under management grew 1.5% to $232bln in 2019, according to the company's annual review

Oman's Taageer Finance shareholders approve up to $25.97mln bond issuance

Issuance is with a green shoe option for an amount up to 5 million Omani riyals

Banking equities help Qatar bourse cross 9,200 level

Local retail investors' weakened net selling also had its role in the bourse, whose year-to-date losses stood at 11.44%.

Oman weighs seeking financial aid from Gulf countries

Sultanate's debt is rated junk by three major credit assessors

Saudi trade surplus declines 25% in 2019

Saudi merchandise imports surged by 5.3% in 2019

Dubai's Deira City Centre set to open new section after $102.6mln revamp

This marks the culmination of a two-year-long project towards a renewed shopping experience

Dubai continues to see big confidence from health sector investors

2,340 healthcare professionals licensed included 466 physicians, 210 dentists, 922 nurses and midwifes and 723 assistant medical professionals among others

Mena IPO deals raise $814.2m in first quarter of 2020

Potential issuers nevertheless continue to seek new capital, in some cases driven by the current market environment.”

Technology, Digital Strategies Will Power MEA’s Recovery and Create New Economies

Those organizations that will thrive have a clear understanding of technology innovation, an ability to develop a single, integrated strategy that is built around using IT to transform and have a clear understanding of the value of digital investments to

Dubai Meraas merger ‘will advance growth’

The collapse in travel and tourism — and the slowdown in trade — have had a big effect on Dubai, which is the leisure and commercial capital of the Gulf.

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