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

Saudi Arabia’s PIF to acquire 54% stake in MBC Group

The completion of the transaction is subject to a number of conditions

PIF’s Asset Management Forum concludes second edition at FII8

PIF and FII signed a memorandum of understanding to focus on the asset management industry at future FII events

Saudi Arabia strengthens carbon markets with new deal for climate action

Agreement will play in ensuring the carbon markets established in the Kingdom are transparent, robust, and credible

IQ-EQ granted corporate services licence in the ADGM

IQ-EQ is now fully equipped to service the rapidly growing fund and asset managers as well as corporate communities in the Middle East market, from the heart of the UAE’s capital.

Boursa Kuwait records a 14.50 percent increase in its net profit for the period ended 30 September 2024

Operating profit increased by 21.27 percent while total operating revenues increased by 16.42 percent

QIC Group net profit surges 16% to QR525m

QIC’s strong momentum over the first nine months of 2024

UDC honoured with Best Cloud Transformation and Digital Leadership awards

This recognition reflects UDC’s ongoing commitment to technological innovation and excellence in digital transformation, cementing its leadership in the real estate sector.

Saudi private sector investments in Africa to reach $25bn: finance minister

Kingdom is actively involved in shaping the future of Africa by lending aid for philanthropic activities

Employee benefits gap poses risks to retaining talent as 8 out of 10 GCC employees consider job changes

Employers in the UAE (96%), KSA (95%), Bahrain (84%), and Qatar (94%) overwhelmingly agree on the importance of employee benefits

Estithmar Holding profits climb 15% to QAR 353mln as growth momentum continues

Announcing its financial results for the period ended September 30, 2024

KSA headquartered invygo secures $8mln from STV and existing investors

As car subscription pioneer nears profitability

Egypt: PFI Asset Management to run GIG Insurance’s funds

The company’s strategy aims to provide diverse investment products that meet the needs and goals of all investors, whether individuals, financial institutions or companies

Saudi Arabia surpasses FDI targets with $26bn inflows in 2023

Saudi Arabia has rolled out a series of ambitious reforms and projects designed to foster FDI and enhance the overall business environment

Engel & Völkers Middle East releases Q3 2024 Dubai Real Estate Market Report

AED 138.8 B in combined sales, residential transactions surge by 40.8%, commercial market achieves AED 23.2 B in sales

Qatar’s realty sector sees remarkable growth supported by infrastructure investments

The Group is deeply committed to sustainable development

Fairway Group opens office in Kuwait

Meeting our clients and intermediaries face-to-face is high on our agenda as part of our conscious effort to deliver a director-led, client centric service.

AXA EssentiALL accelerates its strategy in Egypt

The Group aims to protect over 20 million customers through inclusive insurance globally by 2026.

ADQ buys 96% of Bank Audi’s Turkish unit

The transaction is subject to regulatory approvals, including from Turkey’s banking regulation and supervision authority and the competition authority.

Bank Nizwa signs finance deal for landmark Hafeet Rail project

This railway system will provide passengers with breathtaking views of the mountains, highlands, and vast deserts of both nations, said senior officials at the signing ceremony held in Abu Dhabi.

ONE Development appoints AE7 to oversee AED 2bln mega-project at City of Arabia

Dubai-based architectural, engineering and construction enterprise chosen as project consultant for UAE’s first AI integrated residential community

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