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

Gulf Insurance Company tops the insurance companies in the region

With the value of GIC's assets reaching KD283.9m ($1.01bn) at the beginning of 2012, there has been an increase of KD17.1m or 6% from the end of 2011.

Kenanga Investment-ECM Libra Investment merger makes sense

According to Bursa Malaysia website, Kenanga Investment Bank is currently ranked the seventh-largest equities brokerage by trading value, having managed trades worth about RM20bil year to date, or a 5.6% market share.

Kuwait real estate sales rise by 50%

Total values reached $3.2 billion, and increase of 49 percent compared to the same period last year and the number of deals was 2,657, up 69 percent compared to the first quarter of 2011.

Bahrain Saudi Bank to Delist June 28 From Bahrain Stock Exchange

Al Salam Bank BSC (SALAM) acquired about 90 percent of Bahrain Saudi in 2009. The banks completed the legal requirements for the merger on April 25, according to the statement.

China joins the UAE Exchange Global Network

China is the one of the most active markets in foreign exchange realm and it is apt for the leading player in the business to start its retail operations here. With this move, the world’s most populous country became the latest and a major link in t

Dubai govt backs $1 billion loan for DIFCI: sources

The Dubai government will partly guarantee the $1 billion loan which DIFC Investments will use to repay its $1.25 billion Islamic bond maturing in June, two sources said on Thursday.

Boston Analytics chooses Bahrain for Gulf centre

Making the announcement, the company cited Bahrain's availability of qualified and motivated workforce as one of the reasons behind its decision.

DIFC ties up with Australia Gulf Council

The agreement aims to promote and facilitate trade, investment and other opportunities between Dubai and Australia, said a DIFC statement.

Emirates NBD AM named 'Best Asset Management Company'

The award ceremony was held in Abu Dhabi, alongside the Arab Investment Summit, which brought together leaders and experts from across the region and the world to meet and discuss investment opportunities in the Arab region.

Personal touch for HSBC's rich clients

A customer willing to invest US$1 million (Dh3.6m) will be able to call on the discretionary portfolio manager as HSBC tries to increase its quality of service and improve its retail brand image in the Gulf.

London firm sells Abu Dhabi bank site for US$26.6m

The company said in February that it sought at least GBP£21m.

Gulf Finance Says Obtains Approval for Sukuk Restructuring

Holders of the Islamic bonds agreed to extend the maturity to June 2018, with a two-year grace period for the principal repayment amount in 2012 and 2013, the lender said in an e- mailed statement.

Khalifa Fund and NBAD to launch Dhs500m SME Fund

The Fund will have an initial equity size of Dhs80m with matching commitments from KFED and NBAD. The size of the Fund is expected to reach Dhs500m.

Mumtalakat supports GCC future entrepreneurs conference

The event is being held under the patronage of His Royal Highness Prince Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, mandated by the Ministerial Committee for Planning and Development of the Gulf Cooperation Council (GCC)

Lebanon seeks $2bn in bonds this year as yields drop

The possible sale of benchmark-size bonds depends on market conditions and the ministry has yet to appoint advisers, he said. Benchmark-size typically means a sale of at least $500 million.

Citi Ranked #1 in Global Custody Services - Survey

Citi has been ranked #1 in global custody services by the world's leading asset managers, asset owners and banks in the 2012 Global Custody Survey compiled by Global Investor.

DIFC continues to broaden strategic international ties

The MoU was signed by Mr Chris Eccles, Director General, Department of Premier and Cabinet, and Abdulla Mohammed Al Awar, Chief Executive Officer of DIFC Authority

Gulf-based SWFs, Family Offices increasingly interested in alternative investments

Their need for diversification, increased yield in the current low interest rate environment, increasing sophistication, together with the fact that they are uniquely placed to deploy long term capital, makes them well placed to continue and increase thei

Dubai Islamic eyes benchmark Islamic bond

Roadshows for the bond sale will begin in Kuala Lumpur on Thursday and end in London on Monday, a document issued by the lead banks on Tuesday showed.

Rise in Dubai property deals with banks aiding clients offload units

One such example is the Qatari lender Doha Bank, which yesterday issued tenders in the UAE’s local dailies to offload eight apartments in Emirates Garden cluster of Jumeirah Village South.

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