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

Abu Dhabi Global Market records 31% surge in operational entities in H1

ADGM saw the addition of 231 financial services companies

QIC Group reports net profits of QR360m in H1 2024

The Group is focused primarily on growing its presence in domestic and regional markets – an approach which has been bolstered by continued investment in its already best-in-class digital services.”

Said Zater in the top 100 CEOs in the Middle East for the second year in a row

Since 2020, under the guidance of Mr. Zater, Contact Financial Holding has emerged as a leading provider of non-banking financial services in Egypt

Saudi Aramco chief leads Forbes ME’s Top 100 CEOs for fourth consecutive year

Forbes ME’s ranking criteria are comprehensive, evaluating CEOs based on their achievements, innovations, company size and broader industry impact

QSE announces results of MSCI Quarterly Index Review

The MSCI Emerging Markets Index includes markets of 23 countries representing 10% of the market capitalization of global markets.

Net profits of MSX-listed banks in Oman jump to $665mln in 2024 first half

The net profits of these banks rose to OMR256.2 million in the first half of this year compared to OMR214.4 million in the same period last year, recording a growth of 19.5 percent

Gulf Insurance Group announces net profit of KD 16.8mln (US$ 54.7mln) for the first half of 2024

Shareholder equity reached KD 235.6 million (US$ 768 million) as at June 30, 2024 compared to KD 236.3 million (US$ 770 million) as at December 31, 2023, while book value per share reached 828 fils compared to 832.6 fils as at December 31, 2023

Qatar banking sector total assets rose by 1.2% MoM in June 2024 to reach $549bln

The overall loan book moved up 0.4% in June 2024, driven mainly by Private Sector loans

Union Coop reports financial performance for H1 2024

The cooperative achieved a 32.3% growth in net profits and expanded profit margins across its various sectors

Tabreed’s financial results for H1 2024 show company reaping the rewards of investment

Rising year-on-year consumption volumes driving increased profits and improved EBITDA

MBC Group reports 1H 2024 results

MBC continued to invest in quality content and engaging platforms to drive viewership and grow the subscriber base

RAK Properties delivers strong financial results in H1 2024

Driven by robust sales and strategic growth

The road ahead for banks in the GCC region: 7 priorities

Looking ahead, the GCC banking sector is well positioned to handle macroeconomic uncertainty and future challenges, but falling into complacency would be dangerous.

Azizi Developments signs with dsgn for Burj Azizi

dsgn is a leading interior design consultancy firm known for its creativity, versatility, and practical approach in commercial, civic, and hospitality projects

Ezdan Holding Group achieves major milestone in comprehensive digital transformation

This involves completely abandoning paper reliance and transitioning entirely to a digital system for management and operations

Egypt's net foreign assets positive for second month

Egypt's net foreign assets (NFAs) stayed positive for a second straight month in June.

Global stock rout intensifies, powering bond rally

Nasdaq 100 futures tumbled more than 6% and S&P 500 contracts were down more than 3%

Gulf Insurance Group shareholders approve new Board formation

Maintains unparalleled global expertise and resources to drive GIG towards greater innovation and growth

Gross banks’ assets saw $113.8bln YoY increase in May 2024: CBUAE

The apex bank data released today showed that gross credit grew 0.7 percent from AED2.063 trillion at the end of April 2024 to AED2.077 trillion at the end of May 2024

Saudi Arabia’s SABIC reports 84% surge in net profit to $564m

Company reported a 32% increase in gross profit to SR7.19 billion

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