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

Saudi Wealth Fund Taps Bond Market for Fourth Time This Year

New US dollar deal adds to previous dollar and pound sales

Saudi Public Investment Fund begins selling green sukuk and bonds

This will mark the fourth time the Public Investment Fund has tapped the bond market to support its major investment plans, including the development of giga-projects in the Kingdom.

Protego: A new era in insurance for the UAE

Supported by RAKBANK, Protego is now live as a fully operational subsidiary, poised to transform the way UAE residents buy, manage, and claim their insurance policies

Saudi Fund for Development celebrates 50 years of global impact with over $20bln in development contributions

The event brought together key development partners to reflect on the SFD’s significant contributions to sustainable development worldwide

Saudi’s PIF secures $15bn loan from global syndicate

The facility agreement was signed with a diverse global syndicate of 23 international financial institutions

Menthum and CI Capital Asset Management launch USD fixed income fund in Egypt

Designed to provide both individuals and businesses with a secure, high-yield and liquid savings opportunity in U.S. dollars

Kuwaiti banks’ M&A activities to unlock growth opportunities: Fitch

Net interest income is forecast to grow at a compound annual growth rate of 4.06 percent from 2024 to 2029

AXA insurance firm completes divestment from Israel banks, arms manufacturers

The insurance firm then reportedly divested from all three of those banks by 24 June, 2024

HD Bank witnesses $1.85mln block-trading on EGX

The transaction was executed on 1.670 million shares

Abu Dhabi Global Market records 31% surge in operational entities in H1

ADGM saw the addition of 231 financial services companies

QIC Group reports net profits of QR360m in H1 2024

The Group is focused primarily on growing its presence in domestic and regional markets – an approach which has been bolstered by continued investment in its already best-in-class digital services.”

Said Zater in the top 100 CEOs in the Middle East for the second year in a row

Since 2020, under the guidance of Mr. Zater, Contact Financial Holding has emerged as a leading provider of non-banking financial services in Egypt

Saudi Aramco chief leads Forbes ME’s Top 100 CEOs for fourth consecutive year

Forbes ME’s ranking criteria are comprehensive, evaluating CEOs based on their achievements, innovations, company size and broader industry impact

QSE announces results of MSCI Quarterly Index Review

The MSCI Emerging Markets Index includes markets of 23 countries representing 10% of the market capitalization of global markets.

Net profits of MSX-listed banks in Oman jump to $665mln in 2024 first half

The net profits of these banks rose to OMR256.2 million in the first half of this year compared to OMR214.4 million in the same period last year, recording a growth of 19.5 percent

Gulf Insurance Group announces net profit of KD 16.8mln (US$ 54.7mln) for the first half of 2024

Shareholder equity reached KD 235.6 million (US$ 768 million) as at June 30, 2024 compared to KD 236.3 million (US$ 770 million) as at December 31, 2023, while book value per share reached 828 fils compared to 832.6 fils as at December 31, 2023

Qatar banking sector total assets rose by 1.2% MoM in June 2024 to reach $549bln

The overall loan book moved up 0.4% in June 2024, driven mainly by Private Sector loans

Union Coop reports financial performance for H1 2024

The cooperative achieved a 32.3% growth in net profits and expanded profit margins across its various sectors

Tabreed’s financial results for H1 2024 show company reaping the rewards of investment

Rising year-on-year consumption volumes driving increased profits and improved EBITDA

MBC Group reports 1H 2024 results

MBC continued to invest in quality content and engaging platforms to drive viewership and grow the subscriber base

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