The sharp fall in oil prices and the impact it will have on Saudi Arabia’s government finances led ratings agency Standard and Poor’s to cut its credit rankings for eight of the country’s major banks on Friday.
Wealth manager Old Mutual Global Investors (OMGI) has appointed Simon Barrett as head of Middle East and Nordic distribution.
Isle of Man-based Qatar Investment Fund (QIF), which invests largely in Qatari-listed stocks, has announced details of its planned tender offer ahead of a discontinuation vote at its annual general meeting on 12 November.
AES International has expanded its Dubai office with the appointment of two new salary-based advisers.
The idea of an industry body to represent asset managers based in the Middle East in dealing with regulators and government departments may be about to resurface.
Financial advisers in the Middle East have welcomed the long-awaited news that Abu Dhabi has opened its financial free zone, however, one IFA questioned whether it will be strong enough to compete with other financial hubs.
Abu Dhabi Global Market, the newest financial centre in the Middle East, and its Financial Services Regulatory Authority (FSRA) opened for business in the United Arab Emirates on Wednesday.
Only the Danish and Dutch pension systems achieved “A” grades, indicating first class and robust schemes that deliver good, sustainable benefits with a high level of integrity, according to global consulting firm Mercer.
Government spending in the Middle East on non-oil projects and a steady rise in the penetration of insurance products will support growth in the insurance industry across the six Gulf Cooperation Council nations, according to an industry survey.
Beechwood Bermuda International has announced a new Middle East operation to market and distribute its investment products in the United Arab Emirates and across the region.
Regulators in the Middle East need to do more to crack down on unregulated schemes and products, according to a new survey by market intelligence company Insight Discovery.
Zurich Life Insurance (Singapore) has agreed to hand over all of its approximately 160 appointed financial advisers in the city state to Nexus Financial Services, part of the Middle East-based Nexus Group, in response to changes in the regulatory landscape.
