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

Emirates Reit acquires Dubai community mall

The transaction is the Reit’s first acquisition, following its successful IPO last month and increases the valuation of its portfolio to over Dh1.3 billion.

Consumers welcome UAE credit bureau plans

Welcome initiative as a way of limiting debt

UAE’s status upgrade could open pool of investor capital

MSCI is no longer part of Morgan Stanley but is a worldwide, influential and leading provider of investment decision support tools.

Dubai index dips despite Arabtec rise

The Dubai Financial Market index slipped 45 points on Sunday to close 0.87 per cent down at 5,135.95, even though Arabtec, the best-selling stock by overall value of trades, increased its price.

Draft on opening Tadawul to foreigners under study

Saudi Arabia’s stock market is one step away from gaining approval to allow direct foreign investment into equities

Qatar main engine of growth in Mena: QNB

GCC countries continue to be the main engine of economic growth in the Middle East and North Africa, with Qatar leading the way.

Hedge fund flows help Asiya assets to $1bn

The Hong Kong-based asset manager has doubled its AUM since the start of the year to $1 billion, helped by allocations to its hedge fund strategies.

VCBank posts $5.3m net profit

The balance sheet remained strong with total assets at $242.6m as on March 31

UNB Al Itihad Fund and Al Samaha Fund performance for Q1 2014

Treasury & Investment Division of Union National Bank announces the performance of its investment products for the period ending March 2014.

Islamic Development Bank approves $671 million project funding

The Islamic Development Bank's (IDB) Board of Executive Directors has approved new fundings

UAE banks wooing property owners to go for more

Some have launched offers for extending loans against existing property

Iraqi Exchanges in Dubai to Woo Regional Investors

Representatives of Iraq’s two stock exchanges are in Dubai this week to court regional investors and to present their respective business case.

Saudi Tallest Tower to Obtain Financing in First Half, CEO Says

Kingdom Tower, the Saudi skyscraper set to be the world’s tallest building, will probably have construction funding in place by the end of the first half

More kangaroo bond deals from Middle East banks in pipeline, says HSBC

HSBC anticipates working on another three kangaroo-bond deals for clients in the region, he said, declining to identify the issuers

Investment bank plans at Al Ramz with IPO in consideration

The Abu Dhabi-based stock brokerage Al Ramz Securities is considering an initial public offering amid ambitions to turn into a full-fledged on-shore investment bank.

Credit Agricole-Backed Saudi Bank Said to Plan $533 Million Bond

Banque Saudi Fransi, the Saudi lender part owned by Credit Agricole SA, is planning to raise about 2 billion Saudi riyals to bolster its capital base

HSBC Touts Kangaroo Bonds as Banks Look Down Under: Arab Credit

Banks are turning to new markets for funding as they guard against an eventual tightening of credit in the U.S. Australia’s pool of pension funds is the world’s fourth-biggest

DSI chief executive among founders of company planning Dh750m IPO

A flurry of IPOs is being planned as investors take advantage of higher valuations in the secondary market.

Trade with Qatar is very strong: Singapore envoy

Qatar and Singapore trade volume has reached $8bn last year

Big Gulf Funds Shouldn’t Fret About Treasuries, Atlanta Fed President Says

These funds, the largest of which are in Saudi Arabia, the United Arab Emirates and Kuwait, are investment vehicles that store excess dollar-denominated energy revenues.

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