Emirates NBD Dubai economy tracker signals contraction
Emirates NBD’s latest Dubai Economy Tracker (DET) has recorded its first fall in non-oil private sector economic activity since the series began in January 2010
Middle East
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Allianz offers health plan for locals and expats in Lebanon
Allianz Worldwide Care, part of the giant Allianz Group, has launched a health insurance programme for expats and nationals living in Lebanon.
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Praemium set to open sales office in UAE
Australian-based financial technology firm Praemium is in the process of setting up a new office in Dubai to help market its offshore investment platform to the local IFA market.
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IMF calls on Gulf nations to widen their tax base
The newly-reappointed head of the IMF has called on Gulf countries to re-engineer their tax systems and consider greater use of corporate income taxes, as well as property and excise taxes to bolster government revenues in the face of lower oil prices.
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Spate of broker licences sparks hope in UAE
The distribution of new broker licences in the United Arab Emirates (UAE) in the first few weeks of 2016 has raised hopes the industry regulator is poised to further open up the market.
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Guardian Wealth Management exits Qatar after six years
Guardian Wealth Management is to close its office in Qatar after a “strategic review” of the Middle East, shortly after gaining a broker licence with the region’s Insurance Authority in January this year.
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Moody’s cuts Saudi growth outlook amid ratings slide
The impact of lower oil prices has caused ratings agency Moody’s to revise down its economic outlook for Saudi Arabia, in a week which saw rival agency Standard and Poor’s announce a two-notch downgrade of the country’s sovereign ratings.
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Jersey signs MoU with Abu Dhabi financial regulator
The Jersey Financial Services Commission (JFSC) signed a landmark memorandum of understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Wednesday.
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Abu Dhabi’s ADCB launches regionally focused private bank
Abu Dhabi Commercial Bank (ADCB) has launched a new private bank aimed at providing wealthy clients in the Gulf region with sophisticated banking and wealth management services.
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DFSA amends property fund rules; to offer more online services
The Dubai Financial Services Authority (DFSA) has amended its rules for specialist property funds, and has begun a consultation on extending the range of transactions that it will offer online.
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The final great investment frontier: Iran
Oliver Bell, manager of the T. Rowe Price Frontier Markets Equity Fund and T. Rowe Price Middle East & Africa Equity Fund recently visited Iran. Here he outlines why many of the assumptions investors have about the country may need a major upgrade.
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Aviva Investors to move Middle East director to Asia
Aviva Investors’ Scott Callander is picking up a new role as he prepares to depart the Middle East, bound for Asia in the summer.