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

Dubai International Financial Centre grows 6% in first half 2012

Dubai International Financial Centre has updated the market today on its continuous positive performance throughout the first half of 2012.

MidEast investors launch $20m bid for Portsmouth

Middle East investors have lodged a dramatic $20m bid to take over troubled football club Portsmouth, Arabian Business can reveal.

MidEast investors 'close to exit' on Leeds deal

The paper quoted a source at Leeds United as saying the offer from the Middle East was “still there”, but that the prospective new owners were losing patience.

SunGard identifies ten asset management trends affecting the fund management industry

Doug Morgan, president of SunGard’s institutional asset management business discuss the top trends affecting the fund management industry in 2012

PE firm buys 6.6 pct of Jordan Dubai Islamic Bank

The firm declined to disclose the monetary value of the deal. It is not yet considering seeking a seat on the bank's board because the term of the current board has yet to expire, Foursan's vice-president Jameel Anz told Reuters.

Alpen Capital opens office in Bangalore

Alpen also operates a financial advisory and consultancy firm in India called Sarasin Alpen India, a subsidiary of the Swiss private bank, Bank Sarasin.

Dubai Group sells Turkey investment arm

Dubai Group Sigorta was formed in 2008.

GulfMena to launch DIFC-based fund with Solo Capital

The firm will act as the manager of the fund, while UK-based investment manager Solo Capital will retain an advisory role. Morgan Stanley has been appointed as prime broker, while Apex will act as the fund administrator.

Dubai Financial Market reports its performance for August 2012

The value of stocks bought by foreign investors during this month reached Dhs1.134bn comprising 50.7% of the total traded value.

NSE exploring tie-up with Qatar Exchange

NSE’s chief executive officer (CEO) Ravi Narain on Tuesday met top officials of Qatar Exchange and briefed them about facilities that the Indian bourse offers to foreign investors.

Emirates NBD recognized in inaugural Visa Leader Awards

The Leader Awards seeks to recognise and honour financial institutions that demonstrate best practices in implementing secure and reliable fraud management infrastructure, and aims to sustain and enhance risk management standards across the financial serv

EFG Hermes Securities Brokerage Achieves Major Milestones

Despite a challenging 2011 for domestic markets, during which the Egyptian Exchange lost nearly half its market capitalisation, as well as further difficult conditions during 2012, the EFG Hermes Securities Brokerage Division has successfully maintained i

Israel's Harel to buy Eliahu's life insurance business

The deal is conditioned upon Shlomo Eliahu acquiring control of Migdal from Generali, Europe's No. 3 insurer, as well as regulatory approval.

Dubai property valuations drop 26% in H1

In the first half of the year, the Real Estate Appraisal Centre (REAC) at Dubai Land Department (DLD), valued 1,090 properties at the request of property owners with a total value of AED42bn (US$11.4bn), the WAM news agency reported.

Kuwait-linked bank buys $52m UK retail asset

The sharia-compliant investment bank bought the 107,000 sq ft building for £33.4m from accountancy firm KPMG, receiver to a failed Irish property company.

Beltone Financial and Altree Capital announce strategic alliance in Africa and Middle East

Beltone Financial, the asset manager in Egypt with over $4bn in AUM, and Altree Capital, the award-winning African asset management house, have announced the formation of Altree Beltone Capital Ltd.c

Capital Intelligence reaffirms the rating of NIG Sukuk Company

The Company's core shareholder base, which included the Public Institute of Social Securities and prominent Kuwaiti families and institutions, remained stable at end Q1 2012.

UAE's NBAD partly repays post-Dubai World govt support

The sum was part of 5.6 billion dirhams provided by the government in January 2010 as part of a wider move to support the UAE banking system in the aftermath of Dubai World's 2009 $25 billion debt restructuring standstill request.

BLME offers funding to UK property developers

The facility will be used to finance the construction of 95 one and two bedroom apartments and redevelopment of three existing properties as part of a new retirement housing development Edgbaston, Birmingham.

UAE Exchange Opens New Branch in Malaysia

After offering quality service to its customers for many years, Fast Remit SdnBhd has now become a part of UAE Exchangeand henceforth will be known asUAE Exchange Malaysia Sdn Bhd.

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