Saturday 30 August 2014
 
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wealthy

Gulf banks start to muscle in on global bond deals

When the Kenyan government issued a debut $2 billion Eurobond last month, most of the lead arrangers were top Western and African banks. But there was a standout: Qatar's QNB Capital. After decades during which banks from the

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Egypt implements temporary tax increase for wealthy

Egypt's interim president, Adly Mansour, on Thursday signed into law a temporary five per cent income tax increase on individuals earning more than 1 million Egyptian pounds ($139,900) a year, state news agency Mena said. The tax will appl

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Egypt cabinet approves tax rise for wealthy

Egypt's government approved a temporary 5 per cent tax on wealthy individuals to fund social programs, the cabinet said in a statement. The tax rise, which will apply to those earning over one million Egyptian pounds ($142,200

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Gulf's wealthy happy with assests nearer home

Majority of the high networth individuals (HNWIs) in the GCC region are likley to invest in assets closer to home rather than globally mainly due to their confidence in the local economy, said a study. Globally, these super rich i

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GCC investors adopting new investment strategy

Many years of high oil price has enabled the wealthy Gulf investors to buy massive properties across the globe. Although there is no lull in their appetite for real estate, the way these groups are making investments is changing, said a report b

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Citi taps ME families to boost private bank

Citigroup Inc, one of the world's largest banks, is betting on wealthy Middle Eastern family firms who are in expansion mode to boost its private bank business, senior executives said. Citi's family office unit is part of

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Most Mena HNWIs 'view failure positively'

Ninety one per cent of Middle East high net worth individuals (HNWIs) agree that viewing failure positively is essential for an economy to grow, in comparison to 74 per cent globally, said a new report. Compared to those in Wester

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Wealthy 'getting fatter, poor still remain thin'

The 'First world' health problems such as obesity and heart disease may be gaining ground in developing nations, but they are mostly afflicting the rich and middle class while poor people remain undernourished and underweight, a study said

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Middle East wealthy rise 7.1pc in 2009

The total HNWI (high net worth individuals) population in the Middle East rose 7.1 per cent to 400,000, returning to 2007 levels, and their combined wealth increased 5.1 per cent to $1.5 trillion, a report said. The 14th annual World Wealt

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50 richest Arabs lost $25bn in 2008

The top fifty among the world's wealthy Arabs have lost a staggering $25 billion between them compared to last year, due to the global financial crisis, according to a report. The average fortune of the top 50 has slipped to $3.99 bill

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