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

Seven Qatari banks post combined profit of $6bln

Seven out of eight Qatari banks rated by Moody’s saw improvement in 2021

Gulf International Service will continue to focus on achieving cost efficiency

The Extraordinary General Assembly Meeting approved an amendment to increase the non-Qatari ownership limit in the Company’s share capital from 49 percent to 100 percent, ensuring that all relevant requirements are fully met.

Oman Insurance reports highest net profit in last 7 years

With an exceptionally strong solvency ratio of 275%

UAE Banks Federation calls upon SMEs in UAE to unlock their potential

With SMEs having such a sizeable impact on the national economy, UBF has vowed to support them through business-friendly initiatives that build on innovation, digitalisation, financial planning, banking partnerships, and optimum governance

QC Chairman: Qatar’s national products are more competitive

QC Chairman also lauded the efforts made by the Ministry to support the local market, especially SMEs, affirming that this will reflect positively on the national economy.

Saudi-based Qawafel raises a US$3mln seed round

Seed round was co-led by AlSayed Group and Khwarizmi Ventures, in addition to a number of angel investors

Investcorp agrees sale of Dainese SpA

It has reached an agreement on the sale of Dainese SpA to global investment firm Carlyle for an enterprise value of €630mln

PIF-owned SRC signs $270m refinancing deal with Saudi National Bank

Fabrice Susini, chief executive officer of SRC, asserted that the company continues to expand its partnerships with originators to boost the rate of Saudi homeownership to 70 percent by 2030 in line with the Kingdom's Vision 2030 initiative.

Saudi wealth fund buys stakes in Korea game makers

Since PIF’s first purchase of NCSoft’s shares in January, the Saudi fund has injected over one trillion won into the gaming firm behind the popular Lineage series.

UAE to inject money in Sudanese banks: minister

The head of the Sovereign Council was in UAE to attend Dubai’s Expo 2020 world fair.

Doha Bank, Milaha to enter key barometer in QSE

Milaha will join the Al Rayan Islamic Index, while Al Khaleej Takaful Group and Qatar Islamic Insurance will be removed from the index, a communiqué from the bourse said.

Global banking CEOs optimistic of sector growth: KPMG

In its annual Global CEO Outlook report, where about 135 bank CEOs were surveyed, KPMG discovered a surging optimism fuelled by an innovation-based approach and innate commitment to organizational purpose

Oman approves first licence for crowdfunding platform after rules change

Capital Market Authority says Ethis Investment is the first Islamic crowdfunding platform to be set up in the sultanate

Dubai Investments board proposes $139mln dividend for 2021

The company proposed a 12 percent dividend for 2021

Dubai a favorite destination as some Moscow-based bankers beat path to exit

Employees in Russia worry that they could get caught in the middle of rising tensions between Moscow and the West, sources said.

Saudi January industrial output sees third highest rise in 3 years

Annual growth in manufacturing stood at 9.7 percent.

Botswana to showcase trade, investment opportunities at ongoing Expo 2020 Dubai

“These sectors include mining and beneficiation, innovation, tourism, arts and culture and agriculture or foods of Botswana,” said Moagi.

Dubal Holding reports profit of $735mln for 2021

The company, an investment arm of Dubai Government, said it is planning acquisitions in the global aluminium market

Sotheby's International Realty brand opens first office in Kuwait

A New Concept In Real Estate Investment For Family Offices and High Net Worth Individuals

Investcorp named 'Firm of the Year MENA'

This is a great achievement for the team and is a testament to our continued efforts towards contributing to the development of the private equity industry and the capital markets in the MENA region

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