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

Dubai's Nakheel says repays 2.35 bln dirhams of bank debt

Dubai developer Nakheel said on Sunday it has initiated early repayment of 2.35 billion dirhams of bank debts 18 months ahead of maturity in September 2015.

First Gulf Bank readies for regional insurance boom

First Gulf Bank said it expects a trio of forces – Dubai’s mandatory health insurance, the UAE’s economic growth and product innovation – will help to more than quadruple the insurance premiums it collects to US$1 billion a year.

Dubai to ease finance fears with $10bn debt deal

Improved terms for $10bn debt roll-over deal a sign of the revival in Dubai's fortunes after World Expo win

Dubai developer inks deal for luxury Dominica hotel

A Dubai developer has signed a memorandum of understanding with the government of Dominica for the construction of a high-end luxury brand hotel in the north of the holiday island.

Waqf Fund joins hands with University of Bahrain

The Waqf Fund, a Bahrain-based special fund to support Islamic finance training, education and research, has joined hands with University of Bahrain to provide financial support to its 4-year Bachelor degree in Shari'a for Banking & Finance progr

CBI and Zurich International Life sign bancassurance agreement

Commercial Bank International retail banking head David Power said that the company is pleased to partner with Zurich International Life

Dubai agrees roll-over of $10 bln crisis debt to UAE

Dubai has reached agreement on rolling over $10 billion in debt extended by the central bank of the United Arab Emirates during the global financial crisis

Mashreq raises foreign investment limit to 49 per cent

Mashreq is to allow foreign investors the opportunity to own up to 49 per cent of its capital.

Dubai developer Emaar’s profits top Dh2.5bn amid property revival

Strong perfomance across its malls, property and hotel units helped to push quarterly profits up by 48 per cent at Emaar Properties.

QIA fund not restricted to any specific country: CEO

The successful deals resulted in good revenues to everyone and the QIA was happy to invest more in the UK when the right opportunity came along

FGB named ‘New Market Trailblazer of the Year’ at the 2014 MENA Insurance Awards

First Gulf Bank, one of the major leading banks in the UAE, was recently named ‘New Market Trailblazer of the Year’ at the prestigious 2014 MENA Insurance Awards ceremony, which was held at The Address Hotel in Downtown Dubai.

NBAD in place to capitalise on expected initial public offerings

NBAD has been investing in its investment banking capacity, knowing who is ready first will be capturing the market share

Dubai vying to be world's next fashion capital

Dubai and luxury are nearly synonymous.

Turkey to Sell Longest-Dated Dollar Bonds in 2nd Sale This Year

Turkey is selling its longest-dated dollar bonds on record, counting on investors overlooking a corruption probe and accelerating outflows that drove the lira to an all-time low.

Dubai Investments Park tightens guidance on $300 mln sukuk, pricing Thurs

The five-year sukuk, which has so far attracted orders from investors worth more than $1.5 billion, has current guidance in the area of 300 basis points over midswaps

Ahli United in new partnership

Ahli United Bank has teamed up with Jones Lang LaSalle to source and identify residential and commercial properties in London to suit the requirements of local and regional clients across its network, a top official of the bank has said.

Arig sees surge in 2013 net profit

Bahrain-based Arab Insurance Group has posted a six per cent rise in its consolidated net profit which hit $18.6 million for last year, when compared to $17.6 million the year before.

NBAD eyes alternative to bonds

Uncertainty hangs over interest rates and bull market in bonds looks like coming to an end

Bahrain insurance expert wins Axa award

Industry veteran Abdullatif Janahi has won the "Industry Leadership Award" and AXA Insurance the 2014 Middle East Insurance Forum Institutional Excellence Award.

VCBank posts $4.3m H1 net profit

Bahrain-based Venture Capital Bank has reported a net profit of $4.3 million for the six months period ended December 31 compared to $5.5 million the previous year.

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