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

Special Report on The COVID-19 Epidemic Forecasts (Issue 2)

The cumulative number of confirmed cases will exceed 2 million around Apr. 15.

Oman Insurance members staying home get access to doctors using TruDoc 24x7

In partnership with TruDoc 24x7, the access will be available to many of its customers for 30 days starting April 6th, 2020

National Bonds’ Assets under Management Valued up to AED 7.8 billion in 2019

All of these positive results are a testament to the fact that National Bonds’ strategy is working, and that its competitive rates have proven to be an attractive proposition for the local populace.

UPDATE 2-Abu Dhabi taps debt market after Qatar's $10 billion bond sale

Two sources close to the deal said Abu Dhabi was looking to raise $5 billion to $7 billion with the issuance.

Tabreed buys 80% of Emaar’s Dubai cooling business

Emaar said it had decided to sell the cooling business because it was not related to its core operations in property development

Kuwait’s Wealth Fund on Standby as Oil Price, Virus Hit Finances

That leaves the government facing a budget shortfall that needs to be financed.

UAE-based agtech Pure Harvest secures $100 million commitment from Kuwait’s Wafra, raises $20.6 million Series A

In their own words, Pure Harvest designs, builds and operates high-tech, climate-controlled greenhouse systems that convert the region’s abundant natural sunlight into premium quality, pesticide-free fresh fruits & vegetables.

Are there any safe havens in this global market crash?

Bonds, gold and cash are the traditional stores of value, but even their performance has been erratic amid Covid-19

QDB launches National Guarantee Program to support private sector

QDB will manage and issue the guide for this program, while banks operating in the country will grant financing with a guarantee from QDB.

Kuwait to borrow $6.6bln for oil projects

Loan was approved by cabinet

Aramco unit gives $2m to help fight virus

Aramco Trading Company donated to a health fund set up by the Saudi Ministry of Health

UAE citizens invest to AED1.65 billion in Abu Dhabi, Dubai stock exchanges

Total transactions in both bourses stood at AED22.36 billion in March, AED12.732 billion of which were conducted at Dubai Financial Market and AED9.63 billion in Abu Dhabi Securities Exchange.

Invest Bank reports 61% lower losses in 2019

The decrease in net losses is attributed to a decline in operating expenses

Coronavirus, low oil prices threaten GCC insurers’ earnings- S&P

S&P notes that it is still too early to assess the full financial impact on the insurance sector in the GCC

Bahrain pays back $1.25bln in bonds - statement

Bahrain has paid back $1.25bln in bonds that matured on March 31

UAE Exchange customers keep waiting for their money

Some are still waiting for their remittances to be credited despite weeks going by

Al Ramz Capital expands market-making activities on Nasdaq Dubai

The company seeks to support liquidity trading on the futures contracts

Adnoc Distribution raises dividend to Dh2.57b

Blue-chip Abu Dhabi company had net profits of Dh2.2 for 2019

VUMI makes Middle East push with Dubai office

The plan's five variations: allow Insureds to choose from a wide range of coverage levels, deductibles, per visit excess and co-insurance options.

Survival of the fittest: Good governance and transparency in the workplace

Life in the times of COVID-19 is redefining and pushing the landscape of challenges that businesses face to entirely new levels.

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