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

Number of valid licences grew by 5% in H1 2022: RAK DED

Professional licences accounted for 49% of total numbering 8,986

Qatar wealth fund plans $3bln investment in Pakistan

State Bank of Pakistan (SBP) Acting Governor Murtaza Syed said the country has secured $4 billion in funds from friendly countries

Aldar launches Dh1.15 billion Yas Park Gate project in Abu Dhabi

508 houses will be available for purchase starting September 1

Updated Dubai Rental Index better reflects city-wide rent increases

As Dubai records more rent gains, Index provides clarity for lease renewals

NBK-Egypt sees 9% higher profits in H1-22

The rise in H1-22 profits will enhance NBK group’s profitability and promote the diversification of its income sources

Bahrain banks report 19.2% growth in non-interest income

This increase in revenues helped offset the overall impact of higher absolute costs on the cost-to-income ratio that remained below the 40pc mark

AFS relocates its UAE data center operations to Equinix Dubai International Business Exchange

New connection provides significant international opportunities for customers of the leading Middle Eastern digital payment solutions provider

European Bank for Reconstruction and Development could support Egypt with over $1bln on COP27

EBRD will focus on green investment this year

ADX ranked first in Arab region in buy, sell transactions by foreign investors: AMF

Transactions made by foreign investors in the Abu Dhabi market totalled $32.2bln at the end of last year

Dubai's Damac explores $990mln investments in Germany

Company interested in data centres, technology

Barings EMEA trust loads up on Middle East

32.5% in Saudi Arabia

CBRE advises Aldar on landmark ADGM Square transaction for USD 1.2bn in Abu Dhabi

ADGM Square is a landmark development located in Abu Dhabi

Saudi Arabia, Uzbekistan bolster ties with 10 investment deals worth $12bn

In a bourse filing, ACWA Power said it will sign a $2.4 billion deal with the government of Uzbekistan for a 1,500 MW wind project.

Private sector plays key role in developing transport sector, says Qatar Chamber board member

COMCEC was established in 1981 and currently has 57 member countries, as well as five observer countries spread over four continents.

UAE’s Shuraa Group broadens its horizons to create stronger ties

Shuraa Business Setup is renowned for the quality of services it provides

Saib achieves $16mln net profit in June 2022, marking 79% growth

The bank strengthened the provision for expected credit losses by $7.6m at the end of June 2022, compared to $9.2m in June 2021

Saudi's SAMA explores prospect of raising upper ceiling for inter-bank instant transfers up to $21,333

The upper ceiling, which is expected to range between $16,000 and $21,333, will be implemented by the end of 2022, marking the second phase of the inter-bank instant transfer service

Growth in Dubai property values starts to slow down - but only after a 10% jump in Q2-22

Average residential property values now at a hefty Dh1,100 psf

Agthia Group carried out acquisitions worth $626mln last year: Agthia CEO

The group aims to expand geographically, most notably in Saudi Arabia and other markets, such as Egypt and Pakistan

Qatar’s budget surplus to grow 57.6% in 2023: IMF

The increase was driven primarily by growth in investment income from public enterprises from QR82.3bn expected in 2022 to QR121.4bn next year.

Alternative Investments