Private wealth in the GCC has doubled from $1.1 trillion in 2010 to $2.2 trillion in 2014 at an overall compound annual growth rate (CAGR) of 17.5 percent, according to a study.
The study by management consultancy Strategy&, f
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
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
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
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
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
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
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
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
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