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

Global stock rout intensifies, powering bond rally

Nasdaq 100 futures tumbled more than 6% and S&P 500 contracts were down more than 3%

Gulf Insurance Group shareholders approve new Board formation

Maintains unparalleled global expertise and resources to drive GIG towards greater innovation and growth

Gross banks’ assets saw $113.8bln YoY increase in May 2024: CBUAE

The apex bank data released today showed that gross credit grew 0.7 percent from AED2.063 trillion at the end of April 2024 to AED2.077 trillion at the end of May 2024

Saudi Arabia’s SABIC reports 84% surge in net profit to $564m

Company reported a 32% increase in gross profit to SR7.19 billion

Al Ansari Financial Services to acquire BFC Group for $200mn

The transaction will result in 410 branches across the UAE, Bahrain, Kuwait and India; Consolidated revenues in 2023 would have been over $385 million

Turks eye property investments abroad as domestic market loses appeal

Returns on real estate investment in Turkey worsening

Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

Data showed that the bank's net foreign assets in June were around SAR1.670 trillion

Saudi Investment Ministry to assist Hail region achieve full economic potential

National Investment Strategy aims to drive the growth and diversification of the Kingdom’s economy

Franklin Templeton Launches Seven Feeder Funds for UAE Retail Investors

The company will continue to monitor local market trends and investor appetites to expand its offerings in the future.

Qatar Chamber attends ‘Arab Investment Forum’

QC board member Mohamed bin Ahmed Al Obaidli attended the forum and held several meetings with officials on the sidelines of the event.

Five golden tips for new investors in Dubai real estate

Dubai promising real estate market, being one of the most global prominent investment destinations

DUBAL Extrusion Investment LLC appoints new CEO for OSE Industries

Sarhan is set to assume the role of CEO at OSE following Magdy Samoul’s tenure since 2012

Mashreq’s net profit in the first half increase by 14% to AED 4bln

Strong business performance and positive outlook underpinned by robust customer activity and stable macroeconomic environment

National Finance strategically extends branch network to Rustaq

Enhancing Customer Convenience

Invesco Global Sovereign Asset Management Study 2024

The study provides unique insights into the investment objectives and behaviours of sovereign investors, and unearthed five key themes.

Banks profit from Egyptian markets volatility: IFR

Citigroup made more than $100mln in fixed income and currency trading revenues related to Egypt

BlackRock Investment Institute establishes presence in the Middle East with appointment of Chief Strategist

Dedicated BlackRock Investment Institute presence in the United Arab Emirates reflects BlackRock’s commitment to clients in the Middle East

The BIBF joins forces with Swiss Re Institute to launch Insurance Simulation Training

This innovative programme is designed for strategic leaders

Quilvest Capital Partners appoints Rami Sayegh to strengthen Middle East presence

Rami previously served as Director of Middle East Investor Relations at Quilvest between 2016 and 2018

Emirates REIT sells Trident Grand Mall

The agreed purchase price is AED 74 million, which is above the asset’s latest valuation

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