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

Alvarez & Marsal releases Saudi Arabia banking pulse for FY 2023

Banks’ profits boosted as net interest margin (NIM) increases by 3.1 percent

Biz Group opens new office in Riyadh marking 30 years in the Middle East

The new Riyadh office, located in the Al Malaz District, marks a significant step in Biz Group's commitment to fostering corporate growth and talent development in line with Saudi Arabia's ambitious Vision 2030.

Gulf Tamin acquires 13.85% stake in Bahrain-listed Arab Insurance Group

Gulf Tamin Ltd. was advised by SICO BSC (c), a leading GCC investment bank, and legal advisors Trowers & Hamlins and Zu’bi and Partners

Saudi Arabia’s PIF updates its asset size to $925.2bn

The crown prince highlighted that the fund continues to build new economic partnerships, localize technologies

Abu Dhabi wealth fund ADIA raises investment in Europe’s Cheyne Capital

New investments brings ADIA’s commitment to $836mln

Dubai to announce first SME picks for Dh500m growth initiative

Chosen SMEs will get loans of up to 7-8 years - and at zero interest for first year

bfinance opens office in the Middle East

With a new facility in Dubai, an independent investment consultant has expanded its global presence.

Gold prices in Egypt soar by 10.8%, 21k-gram jumps by EGP 355

This decision lifted the exchange rate for the first time in more than 14 months

UAE puts consumer rights as high priority as Central Bank opens 'Sanadak' ombudsman unit

UAE targets speedy settlements after new 'Sanadak' unit in Central Bank starts

UAE start-ups lead MENA fundraisings with $65mln raised in February

Young businesses in Saudi Arabia raised the second-highest capital, having secured $39mln in three investment rounds

GFH Financial in talks to acquire Ithmaar Holding’s investment portfolios

Two firms are already in talks regarding the potential acquisition

Kuwaiti Wealth Fund Set for Banner Year After Bet on US Equities

KIA posted double-digit returns in the 11 months to February

Saudi attracts $888mln in investments through tech event LEAP

Investments include venture capital funds, fresh capital for start-ups

UAE: New life insurance scheme announced for Indian workers

Covering individuals aged 18 to 70, the policy will cost employers between Dh37 and Dh72 per year for each worker

National Investments Company records a net profit of KD4.1mln in 2023

And recommends distributing a cash dividend of 15 fils per share

Contact Financial announces FY-2023 results

Contact ended 2023 on a high note, achieving impressive financial and operational results across both its financing and insurance divisions

Bahrain’s SWF Invests in Whampoa’s Digital Bank

The investment follows SGB’s obtainment of a banking license from the Central Bank of Bahrain.

UAE real estate sector undergoes transformation with cross-border payments revolution

Traditionally, the process of investing in UAE real estate from overseas has been encumbered by complexities and inefficiencies associated with cross-border transactions

Ooredoo Qatar awarded at Siemens Partner Day fostering innovation

The award highlights Ooredoo Qatar’s forward-thinking approach and its success

Qatar General Insurance and Reinsurance sees net loss in 2023

The loss per share amounted to QR 1.675 in 2023 versus the QR 0.608 loss per share the firm reported for the same period in 2022.

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