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

Abu Dhabi sees 26.4% reduction in realty service fees in development projects

In 2020, the service charges were reduced by 18.1%, with another 8.3% reduction introduced in 2021

Gulf markets gain; Abu Dhabi jumps over 2%

The company said on Monday it would hold a general meeting later this month seeking approval for its dividend and dividend policy.

Investcorp buys majority stake in Italian cybersecurity company HWG

HWG serves businesses across sectors including finance, fashion, automotive, telecommunications and manufacturing

Bain & Company and NielsenIQ launch new report on driving profitable growth in the Middle East in the new normal

A significant slowdown in market growth and global rise in raw materials and transportation prices have led to an intense fight among players to gain market share

ADGM Academy and Mashreq team up to develop banking education hub

The initiative is aimed at maintaining an effective talent pool in the banking sector

Saudi PIF opens New York, London, Hong Kong offices as part of global expansion

The fund is an active investor in other industries and businesses

BBK: Financial results for the year ended 31st December

The growth in total comprehensive income was mainly driven by the increase in valuation of investment securities as financial markets continued to recover from the shocks resulted from the COVID-19 outbreak last year.

Investcorp leads $17.5mln investment in V-Ensure

Founded in 2010, V-Ensure is a leading developer of specialty pharmaceutical formulations focused on complex generics for regulated markets

Shipsy raises $25mln in new funding round, eyes Middle East expansion

Company also intends to use new capital to expand in India, Southeast Asia

Saudi SABB signs $693mln financing facility for Riyadh mall

Financing will support construction of The Avenues-Riyadh

First Abu Dhabi Bank takes orders for $500mln sukuk

Initial price guidance for the sukuk was around 85 basis points over U.S. Treasuries, according to the document from one of the banks on the deal

Brookfield negotiating with First Abu Dhabi Bank to buy $1bn payments arm

FAB turned Magnati Payment Solutions into a fully-owned subsidiary in April

UAE becomes world’s largest rough diamond trading hub

UAE has increased its rough diamonds trade by 76%, overtaking Belgium

Bahrain tops in MENA for key economic freedom factors

The 2022 Index of Economic Freedom measures the level of economic freedom based on 12 factors, grouped into four categories: rule of law, government size, regulatory efficiency, and open markets.

Saudi PIF-owned ADES secures $1.6bln from banks

He said this funding will allow them to do organic and inorganic acquisitions.

Sovereign sukuk to fall to $73bln this year; Saudi Arabia leads decline: Moody’s

GCC sovereigns are likely to see a surplus of $50bln in 2022

Qatari prince sells Parisian mansion for $305mln

Transaction is one of biggest ever deals for private property in French capital

EIBFS is committed to creating bankers for future: Al Jassimi

Over the past 38 years the instiute has trained 292,887 banking professionals

Saudi Arabia real estate: Vast majority of kingdom’s richest want to buy a new home in next 12 months

The survey was carried out in partnership with YouGov.

Qatar's nominal GDP forecast at $203.9bn in 2023: Emirates NBD

"We had assumed that Opec+ would restrain production below their target levels to avoid over-supplying markets"

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