Abu Dhabi maintains strong credit rating despite oil slump
Abu Dhabi has maintained its AA/A-1+ sovereign credit rating as oil prices recover from their record low levels.
Middle East
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Expats in Saudi Arabia to face cap on moving money abroad
Expats living in Saudi Arabia sending money back to their home countries could face a cap in line with their earnings as the Kingdom looks to tighten rules around personal wealth leaving the country.
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Northstar sets up in the Dubai International Finance Centre
Bermuda-based Northstar Financial Services has opened an office in the Dubai International Financial Centre (DIFC) and appointed Sanjeev Chowdhury as principal representative.
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DeVere Acuma plans UAE expansion, pulls PIC brand
The deVere Group has announced that it will incorporate its Professional Investment Consultants (PIC) Middle East business into its deVere Acuma operation in the UAE as part of a strategic plan to expand across the region.
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Abu Dhabi Global Market signs closer ties with China
Abu Dhabi’s Financial Services Regulatory Authority (FRSA) has signed two agreements with China to improve collaboration and cooperation.
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Qatar royal family now Deutsche Bank’s biggest shareholder
Qatar’s royal family has increased its stake in Deutsche Bank to nearly 10% and recommended a replacement for an open position on the bank’s supervisory board.
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Saudi’s Sedco Capital to manage new MENA Ucits Fund
Saudi Arabia-based fund manager Sedco Capital has been awarded a mandate by Milltrust International to manage a new Middle East and North Africa (MENA) fund.
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AES gets DFSA licence, opens new Dubai office
UK-headquartered AES International, which provides financial advice to expats across the Middle East, has opened a new office in the Dubai International Financial Centre (DIFC) after gaining a licence from the Dubai Financial Services Authority (DFSA).
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DeVere Group expands Qatar presence
Increasing client demand has seen deVere Group move to larger premises in the Qatari capital of Doha, as it looks to take on more financial advisers and support staff.
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Obesity a key factor in UAE insurance claims, says Zurich
Expanding waistlines in the United Arab Emirates are having an impact on the region’s insurance claims, with obesity often a contributing factor in both life insurance and critical illness claims, according to Zurich Insurance Group.
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Abu Dhabi signs cooperation agreement with Turkey
The Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) has signed a memorandum of understanding with Turkey to cooperate and exchange supervisory and enforcement information.
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Dubai’s Centaur launches natural resources bond tracker fund
Centaur Asset Management has launched the Centaur Natural Resources Bond Tracker Fund, an open-ended mutual fund, domiciled in Bermuda, targeted at income seeking investors.