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

British buyer pays $19m for off-plan villa on Palm Jumeirah

A villa on Dubai’s Palm Jumeirah has sold for an eye-watering $19 million AED70 million, marking a new high for luxury villa prices in the emirate.

Global assigned to manage $40 million portfolio of non-core assets for a Kuwaiti bank

Global Investment House today announced that its Special Situations Asset Management team has signed a portfolio management agreement with one of the Kuwaiti banks to manage its portfolio of special situation assets worth $40 million.

Arzan Wealth advises on EUR 27.2 million office acquisition in Netherlands

I am very pleased that Arzan Wealth has earned the trust of its clients

Gulf-based GFH signs pact with Adani

GFH is one of the most recognised financial groups in the gulf region that includes asset management, wealth management, commercial banking and real estate development.

Kingdom Holding, CDCIC launch $400 million fund

The memorandum of understanding intends to commence discussions on the establishment of an investment fund by KHC and CDCIC which will jointly managed by both parties

BECO Capital Invests in Bayzat, a Regional Startup in the Emerging Healthcare Insurance Technology Sector

BECO Capital's investment is the only institutional funding completed by Bayzat as it eyes the next phase of its evolution.

Insurance companies seek improved risk management framework

UAE insurers rate ‘lack of a strong regulatory regime and competitive pressures as a big challenge’

Mobily fiasco highlights need for good governance in the Middle East

The company’s chief executive departed in disgrace, and the Capital Market Authority deployed a team to comb through its financial practices.

Arab investors move into Canadian health food market

A consortium of investors from the Middle East region is set to acquire a majority stake in La Maison Cannelle, a leading specialised food producer in the health and wellness food segment based in Quebec, Canada.

SCTA partners with key ministries for agri-tourism development

One of the major themes in the SCTA 's strategies is its effort to diversify and develop tourism products in the Kingdom

US$4.5b rescue of debt-ridden 1MDB may weigh on Abu Dhabi’s IPIC

The Abu Dhabi firm also agreed to assume US$3.5 billion of 1MDB debt, and forgive an undisclosed amount of debt owed to IPIC by 1MDB, in exchange for assets which have not been named.

ME group buys majority stake in Canadian food brand

“Through our presence in Canada, we were able to identify and structure the transaction, while on the other hand we raised capital from Middle East investors looking to get exposure to the sector.”

Al Madina Takaful plans to acquire Vision Insurance

Al Madina Takaful Co intends to fully acquire Vision Insurance Co

Opening up of Saudi bourse to FDI good for Oman

The opening up of Saudi Arabia's stock market , the Middle East's largest by capitalisation, to foreign investors since June 15, will have positive impact on Oman and the region

Tadawul stocks correcting due to ‘seasonality reasons’

Fresh inflows have been minimal so far, disappointing some local retail investors

Islamic lender Amlak says eyeing partnership with Dubai's Emaar

Dubai-based Islamic mortgage lender Amlak Finance has said it is in talks with Emaar Properties to launch a partnership.

Saudi lender NCB raises 1 bln riyal capital-boosting sukuk

Perpetual sukuk will boost bank's tier 1/core capital

IndAsia Fund, Iran’s Middle East Bank form joint venture to tap investment

Iran has $8.8 billion of interest-free funds lying idle in India because of the sanctions.

Public Investment Fund, Russian Fund sign MoU worth $10 billion

It is noteworthy that RDIF is one of the world’s leading mutual funds

Dubai's Daman Investments says working on IPO

Daman had said in mid-March that it was in the final stages of obtaining regulatory approval and hoped to launch an initial public offer in the next few weeks.

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