International asset management firms are showing renewed interest in setting up in the Gulf, drawn by markets performing better than those in more volatile emerging economies.
Despite high incomes and large sovereign wealth funds,
Japanese fund manager Nomura Asset Management has opened an office in the Dubai International Financial Centre (DIFC), as part of its ongoing commitment to the Middle East.
The launch is part of a broader strat
Leading global financial services firm JP Morgan has appointed Ahmed Saeed, an industry veteran, as the new head of public sector coverage for its Middle East division.
Saeed joins from Nomura International, where he was most rece
Japanese investment bank Nomura is setting up a foreign exchange trading team in Dubai to meet growing demand among its institutional clients to trade Mena currencies, the bank said on Monday.
Nomura said it had hired three specialists in
Nomura, a global investment bank, has been authorised by the Saudi Arabian Capital Markets Authority (CMA) to offer international institutional investors access to the Saudi stock market (Tadawul).
Nomura, in accordance with CMA guideline
UAE jeweller Damas International has appointed Japan's Nomura to advise it on a potential offer from Qatari conglomerate Mannai Corp, three sources familiar with the matter said on Wednesday.
Mannai, whose operations span the oil and
Analysts at UBS and Nomura expect port operator DP World's first-half profit to be higher due to a rise in container volumes and better margins.
The company, which is the world's third-largest ports operator,
The real estate sector in the United Arab Emirates continues to languish due to high inflation and reduced demand, despite improving liquidity, Nomura said, and cut its price targets on four real-estate developers in the region.
Middle East petrochemical companies will see another quarter of strong earnings growth, due to the continued rise in chemical prices combined with increased plant utilisations, Nomura said.
The brokerage in its forecast stated that profit
Nomura sees the petrochemical sector in the Mena region an attractive one despite political unrest, due to higher prices, export demand and plant utilisation.
The brokerage said it prefers speciality petrochemical companies like Saudi Basi