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

Emaar Group adopts work-from-home policy for employees

Remote-work policy, effective from Monday, is in line with country's 'Stay at Home' campaign

Dubai’s Rise raises $1.4 million investment to provide financial services to low-income migrants in Gulf

Rise claims to have grown over 50 percent month-on-month and brought over $125 million of annualized income into the financial services sector.

Abu Dhabi Securities Exchange to provide free of charge remote e-voting for Annual General Meetings of listed companies

This move will enable a crucial aspect of AGMs to be carried out remotely and will apply to AGMs taking place from the 17th of March until the end of April 2020

Foreign funds’ enhanced buy interests lift Qatar bourse

The weakened net selling pressure from non-Qatari and the Gulf individuals also had its influence on the market, whose year-to-date losses were trimmed to 16.92%.

Foreign property buyers in UAE to slow down, as coronavirus travel restrictions intensify

Real estate sector remains resilient so far, according to Savills

Gulf markets hammered by oil price plunge and virus shutdowns

Saudi Aramco has dipped 12 percent since March 1 and its market value has dropped to $1.57 trillion.

Banking and property stocks propel UAE markets

Abu Dhabi stocks gain 8% led by banks

After Lebanon, where next? Emerging markets look for weak links

Record amounts of cash have been pulled out of emerging markets

DriveWealth signs UAE-based WealthFace

Wealthface Founder & CEO Bilal Majbour stated: "Our partnership with DriveWealth is a significant manifestation of our vision to make the U.S. equity market accessible to everyone everywhere.

UAE's SHUAA forecasts $13.6mln annual synergies from ADFG merger by Q2 2021

SHUAA's assets under management reached $14bln in 2019, up 15% year-on-year

NMC Health reassures staff on salary payments

UAE's largest hospital operator also reassures staff about prompt salary payments

Govt's financial package announcement lifts QSE above 8,400 levels

There was increased net buying from domestic institutions in the market, whose year-to-date losses were trimmed to 19.13%.

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

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