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

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.

HSBC expands global securities services in Abu Dhabi Global Market

Lender secures an arranging custody licence for its key clients

Saudi Aramco unveils record profits as oil prices soar

Net income rose 22.7 percent from Q1 in "strong market conditions", Aramco said.

Kuwait Agility's Q2 net profit plummets to $52mln

The logistics provider said the previous period included a one-gain from sale

SICO reports BD 2.5mln net profit attributable to shareholders of the bank in the first half of 2022

SICO delivered strong growth in fee income of 131% y-o-y in the first half of 2022

Net Income attributable to Al Baraka Group's shareholders reaches US$ 85mln in the first half of 2022

The basic and diluted earnings per share for the second quarter of 2022 was US$ 2.42 Cents compared to US$ 0.35 Cents in the second quarter of 2021 (restated)

PwC puts forward talent agenda for Qatar’s manufacturing skills gap

The skills gap can be attributed to several factors, among them are labour misallocation, skewed labour market and immigration policies, a relatively static structure of the education sector, as well as an inactive population reaching 13% in mid-2021 (up

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