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

UAE banks are not only delivering record profits - their stocks zoom to 12-month highs

On DFM and ADX, investors are driving some of the biggest gains for banking stocks

Kuwait’s Black Market Sees Explosive Growth in Illicit Money Transfers

This situation prompts citizens to turn to currency traders offering favorable rates and sometimes added conveniences in terms of time and effort.

IBM inaugurates regional Saudi headquarters in Riyadh

Having received a formal nod to establish its regional headquarters last year, IBM and the Ministry of Investment have now formally celebrated the milestone at a joint signing ceremony.

Barwa Real Estate launches ‘Barwa’ application for smart devices on iOS and Android systems

The new application, available on both Apple and Google stores, provides details about completed and ongoing Barwa Real Estate projects.

EGX launches new market ‘Tanmeya’ for voluntarily delisted companies

This initiative is part of the EGX’s development strategy, which will not affect the registration processes of companies on the exchange.

Mubadala Abu Dhabi Open to shine a spotlight on female Emirati talent

A local designer, photographer, artist and chef have been chosen to showcase their abilities as part of the tournament

RAK Properties targets $816 million in sales for 2024 amid higher demand

Abu Dhabi-listed firm plans to launch four more projects after unveiling a new waterfront development this month

QNB Al Ahli sees higher net profits in 2023; dividends unveiled

Total assets hiked to $20.34mln in 2023

Middle East investments in China to bloom in amount, scope in 2024 as sovereign wealth funds aim to diversify: bankers

Sovereign wealth funds will expect portfolio companies to provide domain expertise, employ local workers and sometimes reinvest directly

DEWA recorded 12.5mln digital transactions in 2023

Smart adoption of DEWA’s services exceeds 99%

Nasdaq Dubai welcomes the listing of $600mln green bond by China Construction Bank (DIFC Branch)

The listings by China Construction Bank, marks a total value equal to USD 2.45 billion of bonds listed on Nasdaq Dubai by the bank’s Hong Kong and Dubai branches

Real estate trading volume over QR810m in last week

Total sales contracts for residential units in the Real Estate Bulletin for the same period were QR19,381,013.

Saudi Arabia secures $1.4bn in 2023, leads MENA VC fundraising

The kingdom’s venture capital market was boosted by the government’s focus on innovation, a dedicated unicorn project, and investments from sovereign funds

Khalifa Fund embraces digital transformation, closes branches, and expands accessibility

All of Khalifa Fund’s services are available digitally on the TAMM platform

Building Impeccable Experiences in Ras Al Khaimah

Impressed at how well the UAE government dealt with such a crisis and kept the economy moving, the duo, boasting a track record that includes a number of successful ventures, saw an opportunity for growth in the real estate sector.

Saudi Arabia’s sovereign wealth fund overtakes Singapore’s GIC to top spending table

The Saudi fund boosted its deal activities from a total of $20.7 billion in 2022 to $31.6 billion in 2023, the research said.

Saudi Arabia’s PIF tops 2023 global sovereign fund ranking with $31.6bn investments

This aligns with the strategic goals of Saudi Arabia’s Vision 2030

UAE leads Gulf real estate deals in 2023

Value of real estate deals in the GCC countries reached $171.6 billion from January to October 2023

Bupa Arabia inks $90mln insurance agreement with SNB

Under the agreement, the listed company will provide health insurance services to the bank’s employees as well as their families for one year, effective from 1 January 2024

In Dubai, developers will ‘pounce’ on any new land releases: Vincitore’s Vijay Doshi

Land prices in Dubai have ‘doubled’ in 2 years, and only new releases can help

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