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

Mena region to see more SPAC deal

SPAC is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company

Qatar’s fiscal account to return 'surplus' this year on 'recovering' oil price: EIU

On currency, EIU noted the Qatari riyal's peg to the US dollar will continue to be backed by “healthy” foreign reserves and QIA assets.

GCC’s Islamic insurers face profitability challenges in 2021

High completion, asset price riks and slow premium collection to weigh on 2021 earnings

Saudi Arabia plans $15bln technology fund with private investors- report

Investments in the fourth industrial technology to reach $200bln

EBRD and Jordan Securities Commission strengthen cooperation

The EBRD is providing technical assistance to bolster the resilience of Jordan’s capital market, supported by €1.05 million of funding from the government of Japan through the Japan-EBRD Cooperation Fund (JECF).

Barwa Real Estate posts QR533mn net profit in H1 2021

Development work on the two projects is expected to be completed by mid-2022;

Al Fardan exchange partners with Empay’s contactless ecosystem

“The partnership opens yet another channel to extend Al Fardan’s services to a wider audience in the UAE, offering even more flexibility and choice to customers,” said Mr. Hasan Fardan Al Fardan, CEO of Al Fardan Exchange.

US consultancy The Carnrite Group launches in Middle East

“We are excited to continue growing our team internationally, and thankful for our clients worldwide who trust us to help them with difficult business decisions,”

For the first time in Qatar: Spendwisor secures QAR190 million ($50 million) capital commitment from Global Emerging Markets (GEM)

GEM will provide Spendwisor with a Share Subscription Facility (SSF) of up to QAR 190 million for a 36-month term following a public listing of Spendwisor's common stock.

Egypt's SODIC concludes $22mln securitized bond issuance

The bond is backed by receivables portfolio of units in Egypt projects

Liquidity Capital Partners With YAS Investments, Launching USD 100m Venture Debt Fund Targeting Middle Eastern Tech Start-Ups

The new fund YAS Liquidity will focus on supplying non-dilutive capital to drive growth for businesses across the region

Marsh launches Engineering Hub in Saudi Arabia, 3rd in MENA

The wider goal is to support a region that is facing the brunt of a global energy transition away from fossil fuels, while also looking to foster a local business landscape – all of which requires significant infrastructure investments.

Saudi commerce minister reveals plans for joint Iraqi investment company

It follows plans to launch a $3bln fund to promote investments in the country agreed in March during a visit by Iraqi Prime Minister Mustafa Al-Kadhimi to Saudi Arabia

MENA debt capital markets issuance totalled $70.6bln in H1 2021

The largest deal of the year so far is the $12.4bln bond sale from Qatar Petroleum Corp

Saudi investment funds record 11% higher assets in Q1

The foreign assets rose by 30.5%

SWFI lists four Arab sovereign wealth funds among world's top ten funds in July

Kuwait Investment Authority has occupied the third position to top the Arab region

Saudi Arabia’s holding of US bonds amounted to $127.3bln in May

The Kingdom is the 14th largest holder of US debt. Japan remains number one

Shifting GCC’s approach to attracting foreign direct investment

The results are underwhelming.

Govt obtains 34pc more foreign loans in FY21

The total foreign loans surpassed by 17pc the target of $12.233bn set in the budget 2020-21, indicating higher foreign exchange needs to finance imports and earlier loans.

Dubai-based HKA principal Nicola Caley relocates back to UK

With a decade of experience in the UK under her belt, Caley has more than twenty-two years of experience in the construction industry.

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