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

Norway fund shuns G4S over human rights violation risks

Many of G4S's employees in in Qatar and the United Arab Emirates are migrant workers who paid recruitment fees to join the company

NCB and USAID begin US$25mn partnership to stimulate SME growth

The initiative will be known as the Development Credit Authority or “DCA” Loan Portfolio Guarantee Agreement.

QIIB successfully issues ‘Additional Tier 1 Perpetual Sukuk’ of $300mnNovember

“This is the first time that a Qatari bank has issued additional Tier one eligible as capital sukuk in the international market.

Saudi’s Dar Al Arkan rings Nasdaq Dubai bell to mark $600m sukuk

Five-year sukuk due in February 2025, which was more than 2.5 times oversubscribed, bears a coupon rate of 6.75%

Damac's 9-month revenue at Dh2.8 billion

Shareholders' equity stood at Dh14.2 billion as on September 30, 2019."

Egypt starts marketing triple-tranche dollar bonds

The bonds will be priced later on Wednesday, according to the document.

Beit Al Khair Society spends AED 53 million on ‘Aman Programme’

A total of AED1.1 million was awarded to the Families of People of Determination while Monthly Food Assistance worth AED 6 million was also provided, he added.

How can MENA businesses raise funds to accelerate sustainable growth

Experts at the panel titled ‘Raising Funds to Accelerate Corporate Sustainable Growth’ discussed viable funding options like initial public offerings and private financing.

Egypt's New Wealth Fund Eyes Stake in Siemens-Built Power Plants

The acquisition will be part of the fund’s “project pipeline into the sector, then an investor would be selected to hold the remaining stake,” Chief Executive Officer Ayman Soliman said in an interview in Cairo.

Total ‘population’ of Kuwait as of July ’19 reaches 4.82 million

Also, State institutions’ interest in online completion of transactions is low, as per a recent study by the Cabinet, which revealed that online transactions represent only 19 percent of the total transactions, reports Al-Qabas daily.

UAE's Finablr posts 9% increase in 9-month adjusted income

The London Stock Exchange-listed company, whose brands include Travelex and UAE Exchange, processed 13.5% more money transactions during the period

Saudi Aramco taps Saudi billionaires for major IPO orders

Saudi Arabia is turning to rich local families, some of whom had members detained in Riyadh’s Ritz-Carlton hotel during a 2017 corruption crackdown

IILM reissues $600mln sukuk; GCC banks act as primary dealers

The allocation of GCC-based primary dealers stood at 39% and 67% for the 1-month and 3-month Sukuk respectively

A firm too good to be true

In 2018 the Abraaj Group was the world’s biggest private equity firm specialising in emerging markets, with a portfolio of $14bn.

UAE expats prefer exchange houses to send money home, here's why

Remittance fee charges to key destinations are still among the lowest anywhere

UAE continues to lead the Middle East for ease of doing business

The score for the UAE continued the positive trend for financial news in the country following Dubai's ascent to eighth in the global financial centre ranking earlier in September 2019.

Kuwait Real Estate’s unit buys property in Dubai

The deal’s consideration amounted to $108mln

Emaar homes emerge star attraction for buyers in 2019: report

There were 7,214 sales registrations involving homes built by the Burj Khalifa developer in the first nine months of this year

UAE's non-oil growth to accelerate to 3 per cent next year, IMF forecasts

Fund says stimulus programmes and Expo 2020 will help to fuel expansion

Portfolio investments remain key drivers of GCC capital inflows

As in previous years, investments abroad by the GCC sovereign wealth funds continue to drive resident capital outflows, which we project at $252bn this year, Institute of International Finance (IIF) noted.

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