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

Six GCC firms on BCG’s '100 Global Challengers' list

They have managed to maintain higher gross margins and revenue compound annual growth rate than many emerging markets such as Latin America and Africa, added the report.

UAE International Investors Council announces its partnership with the second Edition of UAE - India Economic Forum

It aims to join investment efforts of UAE companies investing abroad under one umbrella to form an investment power to strengthen foreign investment relations and support a sustainable economic development.

Brexit unlikely to affect Dubai real estate markets

As the most open real estate market in the Middle East, Dubai has always found itself more susceptible to external factors.

Weak pound creates bargain London property deals for Gulf buyers

That is the biggest annual decline in almost seven years prompted by Brexit uncertainty and tax hikes.

Draft to launch Turkish sovereign wealth fund sent to parliament

In the initial stage, a specific percentage of public funds and revenue will be allocated to create the main basis of the newly planned wealth management fund.

State-owned firms plan to raise fund from abroad

This is a diverse pool of fresh liquidity, which helps ease pressure within the domestic financial market.

Abu Dhabi's Aldar Properties Q2 net profit up 9.7 pct

SICO Bahrain forecast Aldar would make a quarterly profit of 384.1 million dirhams.

Silver Linings Playbook: Gulfside

The full economic effect will become clear only after a few months, as the U.K. economy is expected to slows and the twin trade and budget deficits grow.

Turkey Unveils Draft Details of Planned Sovereign Wealth Fund

That company would create another entity, Turkiye Varlik Fonu, or Turkey Wealth Fund TVF, and other funds as it sees necessary, according to the draft.

IPOs muted as volatility weighs on investors

Both companies are listed on the Saudi bourse Tadawul, audit and assurance services firm PwC noted yesterday.

Weak oil and global bourses pull down Gulf; Egypt rises

The Saudi index sank 1.2% as petrochemical giant Saudi Basic Industries fell 1.5% and Saudi British Bank lost 2.7%.

GCC bonds & Sukuk market gets a new life in Q2

Bank Al-Jazirasuccessfully issued a US$533 million 10 year Sukuk, with an option for the lender to redeem the Sukuk after five years.

Govt wakes up to plight of Pakistanis in Saudi Arabia

Most of these workers are in a fix since they do not have enough money to travel home, nor can they legally stay in Saudi Arabia because of which most are confined to company-owned camps in different parts of the kingdom.

Qatar’s real estate price index witnesses steady decline in Q2

Enquiries with market leaders suggest that there is a lull in the real estate market.

UAE’s Property Loans Improving Despite Price Slide-IMF

The IMF revealed, however, that non-performing loans in the construction and real estate development industries saw a significant decrease from 12.3 percent of the total in 2013 to just 7.5 percent in March 2016.

Mumtalakat acquires an equity stake in Italy’s KOS Group

The sovereign wealth fund says it has a “significant” minority stake, but did not elaborate further.

Award number seven and eight for Sidra Capital in 2016

These two recognitions make it eight awards in total for the Saudi based financial services company in 2016.

Aramex founder sells entire stake to Boson Ventures

Aramex said last week that it recorded a 24 per cent growth in net profit for the first half of this year to Dh222.5 million.

Demography to play a crucial role in GCC economic growth: Indosuez Wealth Management

The latest Indosuez Wealth Management research report, ‘Macro Comment – MENA Update’, noted that the demography of the GCC region would play a crucial role in the economic growth and future of the region.

Emaar Properties records 12% growth in net profit to AED 2.475 billion in first half 2016

Launch of The Tower in Dubai Creek Harbour marks a new milestone in development strategy of Emaar

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