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

Avanz Capital Egypt Establishes Avanz Manara

The authorized capital of Avanz Manara is EGP 2 billion, with initial subscribed capital of EGP 905 million from Egyptian institutional investors.

'Markaz': 2021 marks a year of achievements despite challenges

Markaz’s Ordinary and Extraordinary General Assembly approves the Board of Directors’ recommendation to distribute cash dividends of 10% per share and bonus shares of 5% and increase capital

ADX to see 13 more listings before year-end

New listings could include four companies from outside the UAE, while others may be government and family-owned businesses

As rouble plunges, wealthy Russians could boost Dubai property – S&P

Dubai remains a welcoming place for Russian citizens and HNWIs, which could boost demand, the ratings agency said

Saudi Arabia's land bridge project costs 'to hit $26bln'

We have been working with an international coalition led by a Chinese company and including national companies for two years, says the minister

Abu Dhabi hospital operator NMC Healthcare comes under new ownership led by ADCB

New structure will prepare the ground for NMC Group to find a new owner in 2-3 years

Roland Berger strengthens its local presence in Saudi Arabia

“It is important for me, to be in Riyadh close to our key clients, and to be able to become a part of and contribute to the Kingdom’s professional and social fabric.”

GCC banks stand to gain from rate rises and drop in cost of risk amid economic recovery

A 100-basis-point increase in benchmark interest rates would boost banks' earnings by 13%, S&P Global Ratings says

ADQ and Türkiye Wealth Fund launch $300m venture capital fund

"ADQ TWF builds on the broader commitment to investing in the future growth of Türkiye we made in late 2021 as the UAE and Türkiye continue to advance bilateral trade and investment,"

Arjun Vir Singh and Ryan Alnesayan partner at Arthur D. Little

Ryan Alnesayan is a partner in Arthur D. Little’s Public Services practice in the Middle East, and the leader of the firm’s Riyadh office.

Mashreq Bank to support upcoming IPOs subscription on Dubai Financial Market

Dubai preparing to list 10 government-owned entities on DFM

UAE businesses have some balancing to do as bank loans start to rise with US rate hikes

US Fed signals higher and faster rate hikes - what should UAE businesses do?

Bank ABC, Emcap arrange $400mln loan for BankDhofar

Both the banks acted as joint co-ordinators, joint underwriters, initial mandated lead arrangers and bookrunners (together the Imlabs) for BankDhofar's loan facility

OurCrowd appoints Apex Group for fund services

OurCrowd has set up an Australian Dollar unit trust for the first time, with Australian investors expected to comprise 12 per cent to 25 per cent of the raise.

Cypher Capital launches USD100mln Blockchain Fund

USD100 million seed fund for investing in blockchain, crypto, and other digital asset projects

CI Capital Holding for Financial Investments reports its FY21 consolidated results

Net profit after minority interest reached EGP681mln, up a notable 44% y-o-y, marking the highest results achieved in the history of the company

Shuaa Capital launches $250m venture debt fund

Dubai investment bank has invested $545m in private debt transactions and $3bn structured across multiple sectors over the last 11 years, including technology

Saudi Tadawul Group announces its intention to launch a bundle of enhancements to develop the post trade infrastructure

The bundle of enhancements across Saudi Tadawul Group’s subsidiaries will support the continuous development of the Saudi capital market into a technologically advanced, diverse, and integrated capital market

Tamkeen plans tech training for 1,200 Bahrainis

This initiative will ensure that the right ecosystem is in place to grow tech startups while also increasing the kingdom’s competitiveness and positioning Bahrain as a regional investment hub.

Saudi digital loan broker Arib raises $2.3m to expand operations

The capital will be used to obtain a licence, partner with financial institutions, grow its team and streamline operations, the company said

Alternative Investments