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Citi taps ME families to boost private bankCitigroup 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 More… |
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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 More… |
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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 More… |
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Middle East wealthy rise 7.1pc in 2009The 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 More… |
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50 richest Arabs lost $25bn in 2008The 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 More… |
