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

Dubai’s Hotel Boom Has Designer Labels

Several five-star hotels have opened in many of Dubai’s tourist hubs this year

Ajman Bank becomes the first bank in the Northern Emirates to distribute DMCC's UAE Gold Bullion Coins

These coins were designed to stand as national emblems in honour of our leaders His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi and His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Mini

Abu Dhabi SWF says 'ready' to buy more hotel assets

The Abu Dhabi Investment Authority is ready to purchase more real estate hotel assets as the right opportunities appear

BKIC net profit surges 30pc

Technical profits (core business) decreased by 19pc over the period under study, from BD1.6m in 2013 to BD1.3m in the current year, mainly due to the increase in loss ratio in motor department and also due to provision of additional reserves (BD133,000) f

UAE bank results point to strengthening profitability and asset quality

The resultant increase in net interest income was partially offset by lower interest received from impaired loans

Watania agrees to sell stake to Gulf investors

In a short bourse filing, Watania said the deal was subject to regulatory approvals. It did not disclose the value of the deal, nor the size of the stake being sold.

Investments in power, energy to help industries in Oman

Planned investments in power generation and distribution as well as upstream oil and gas along with its emphasis on increasing 'In-Country Value' will see further development of ancillary industries and more private sector participation in manuf

Abu Dhabi National Takaful Company H1 net profit down 24 per cent at AED 15 million

H.E. Khadem Al Qubaisi Chairman of Abu Dhabi National Takaful Company, said. “Despite of the fierce competition, Abu Dhabi National Takaful remains in the quest for excellence constant at all levels.

Qataris could make renewed bid for Sainsbury’s

The Qatar Investment Authority in November 2007 walked away from its £10.6bn or 600p a share bid, saying credit markets had made raising funds too expensive.

SR1bn Eid boost: SAMA injects new currencies

Most countries in the world print their currencies in foreign countries through specialized companies, such as Banknote of Canada, De La Rue of UK, Giesecke & Devrient of Germany and Crane of Sweden. About 50 percent of 171 countries print part of the

UAE's RAK Bank says in talks to acquire RAK National Insurance

The government of Ras Al Khaimah owns about 50 percent of each company.

Bahrain hires four banks for new US dollar bond - sources

The Kingdom of Bahrain, rated Baa2/BBB/BBB, has hired four banks including Citigroup, Gulf International Bank and Standard Chartered to arrange a new US dollar bond issue

Saudi market opening for direct access a further boost to MENA

Following a cabinet approval, the largest equity market in the MENA region, the Kingdom of Saudi Arabia, should soon become open for direct foreign investments.

Istanbul Home Purchases Double from Foreign Investors

These figures show that in the first four months, those properties purchased in Turkey increased by 42% year on year, whilst the figure has more than doubled in Istanbul.

Saudi to Open Up $531 Billion Stock Market to Foreigners

Saudi Arabia will open up its stock market to international investors, giving foreigners greater access to the Arab world’s biggest bourse as the oil-rich kingdom seeks to diversify its economy.

Middle East Seen Gaining Gold Share as Trading Expands

The Middle East will take a bigger share of gold demand as buyers from Kuwait to Saudi Arabia to the United Arab Emirates diversify investments and Dubai nears offering a contract for immediate delivery bullion.

Commercial Bank fund wins ‘Qatar Equity Fund of the Year’

The Al Waseela Fund (Q-Class) was also ranked the second best Qatar Equity Fund, which capped a successful evening for Commercial Bank and EFG-Hermes at the awards ceremony held in Dubai recently.

Saudi bourse to open to foreigners

The development is seen as good for both the local market and the wider Middle East region

Al-Dakheel sets standards in KSA finance sector

Kholoud Al-Dakheel, businesswoman, has a special imprint on the business world, which started when she joined the administrative team in Al-Dhakheel group as the company’s vice president.

Bourse Company to offer model for privatisation in Kuwait - Chairman

The board of directors of the Bourse Company will seek to offer a successful model for privatization in the Kuwaiti market, Al-Khaled told reporters on the sidelines of the company’s Constituent General Assembly today.

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