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

Saudi fund PIF's managed assets hit $749bln in 2023

The kingdom's non-oil government revenue reached 457 billion riyals last year and non-oil activities accounted for 50% of real gross domestic product (GDP)

Investcorp announces $1bn GCC fund along with China’s CIC

This initiative, announced at Investcorp’s China-GCC Investment and Business Cooperation Summit, aims to attract institutional and private investors from the GCC, along with CIC

Riyadh Cement’s shareholders greenlight dividends for H2-23

In 2023, Riyadh Cement recorded an annual drop of 0.56% in net profit

Fakeeh Care Group announces its intention to float on the main market of the Saudi Exchange

The Offer Shares will be offered for subscription to individual and institutional investors

Egypt: Al Ahly Sabbour eyes $104mln loans for developing 2 projects

Banque Misr is set to provide Al Ahly Sabbour with an EGP 3.5 billion loan for an integrated urban project owned by the firm’s subsidiary LandMark in East Cairo, one source said

Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to ADNIC

QSE edges higher on buying interests in consumer goods, banking and transport

The foreign institutions were seen increasingly into net selling in the main bourse, which saw no trading of sovereign bonds.

QIC crowned Best Travel Insurance Company in Middle East

QIC has proudly been the preferred insurer in Qatar and beyond since 1964.

QSE index begins trading in green zone

During the session, all sectors witnessed an increase

SAB partners with Saudi EXIM and Kafalah to boost SME exports

This collaboration will expand financing opportunities for small and medium-scale enterprises across various sectors, fostering an environment that will enable their international product exportation.

Qalaa Holdings signs debt settlement agreement with four banks

Banque Misr, Banque Du Caire, Arab African International Bank, Al Ahli Bank of Kuwait, and Debt Restructuring Agreement with Arab International Bank

Banks, companies contribute EGP 68.85bn to mortgage finance initiative for low-income individuals in Q1 2024

This contribution accounts for 96.5% of the entire initiative.

Saudi Arabia’s point-of-sale transactions grew 20% to reach $14.33bn in February

The rise in POS payments mirrors the Kingdom’s drive toward digital transformation and its investments in a technology-centric future.

Saudi banks’ foreign assets surge by 22%, reflecting robust international investments

The main difference between the foreign assets of central and commercial banks lies in their purpose and role within the financial system.

Arab stock markets show varied performance in Ramadan 2024

The main index DFMGI of Dubai Financial Market showed the least decrease during Ramadan, with 0.21% (8.85 points) after closing at 4,244.15 points compared to 4,253 points

Investments in infrastructure, technology create job opportunities

The country positions itself on the global map for hosting major international events

Riyadh climbs to 25th in IMD Smart City Index, Al-Khobar joins the ranks

Al-Khobar is the fifth Saudi metropolis to embrace innovative city initiatives, joining Riyadh, Makkah and Madinah as well as Jeddah.

UAE Property: ‘My landlord hasn’t signed the renewal contract’

Just knowing the landlord wants to evict all tenants is no reason to panic

El Attal Holding, Arab Contractors forge strategic partnership for diverse property developments

Ahmed El Attal, Chairperson of El Attal Holding, emphasized the significance of this collaboration

Phoenix Venture Partners unveils leadership team to drive innovation in MENA

Seasoned principals with combined 60 years of experience to focus on innovation and disruptive ventures

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