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Middle East

June 18, 2010

When the State-owned investment holding company Dubai World asked for an extension on debt repayments last year, it caused major global stock markets to fall as investors worried about the health of the Middle East’s economy, writes Richard Hemming.

When the State-owned investment holding company Dubai World asked for an extension on debt repayments last year, it caused major global stock markets to fall as investors worried about the health of the Middle East's economy, writes Richard Hemming.

Underlining the panic was the fact that the region as a whole is heavily weighted towards financial services companies, which represent about 50% of the local stock market indexes.

March 26, 2010

The Family Office Company (TFO), a Bahrain-based multifamily office, has reacted to demands from wealthy families for higher levels of quality control by announcing it has achieved the ISO 9001 quality assurance rating for all components of its business.

The Family Office Company (TFO), a Bahrain-based multifamily office, has reacted to demands from wealthy families for higher levels of quality control by announcing it has achieved the ISO 9001 quality assurance rating for all components of its business. 

March 10, 2010

Rupert Murdoch, the family head of media empire News Corporation, announced yesterday that the company plans to expand its presence in the Middle East and base its operations there in Abu Dhabi.

Rupert Murdoch, the family head of media empire News Corporation, announced yesterday that the company plans to expand its presence in the Middle East and base its operations there in Abu Dhabi.
 
Speaking at the Abu Dhabi Media Summit, he said: "We will headquarter the Middle East operations for our global online advertising network business in Abu Dhabi."

October 13, 2009

The family-controlled jewellery group, Damas International Limited, has announced that second-generation Tawhid Mohammed Taher Abdullah has resigned as its chief executive and managing director.

The family-controlled jewellery group, Damas International Limited, has announced that second-generation Tawhid Mohammed Taher Abdullah has resigned as its chief executive and managing director.
 

July 13, 2009

Saudi Arabian banks are expected to report a drop in profits due to the huge debt of the region’s family-owned businesses.

Saudi Arabian banks are expected to report a drop in profits due to the huge debt of the region's family-owned businesses.
 

July 3, 2009

The director of the new Bahrain Financial Exchange, Arshad Khan, stated yesterday he hopes to attract family-owned businesses to become prominent members of the exchange by offering funding opportunities.

The director of the new Bahrain Financial Exchange, Arshad Khan, stated yesterday he hopes to attract family-owned businesses to become prominent members of the exchange by offering funding opportunities.

November 17, 2008

Family-owned Al-Futtaim Group, the Dubai-based automotive, retail, electronics and financial services conglomerate, has signed a joint venture with DC Aviation to establish a new executive business jet company in the Middle East.

Family-owned Al-Futtaim Group, the Dubai-based automotive, retail, electronics and financial services conglomerate, has signed a joint venture with DC Aviation to establish a new executive business jet company in the Middle East.

The new company, which will start operations in 2009, will serve the high-end Middle East market and aim to capitalise on the exponential increase in executives opting for privacy, time savings, convenience and superior personalised services.

September 19, 2008

The West may be in the grip of the worst financial crisis since the Great Depression of 1929, but in the Middle East families are on something of a spending frenzy.

The West may be in the grip of the worst financial crisis since the Great Depression of 1929, but in the Middle East families are on something of a spending frenzy.

After the Abu Dhabi royal family became the latest high profile investor in English football with their purchase of Manchester City at the beginning of September, another unnamed family from the region has taken a major stake in a new private jet business.

September 9, 2008

Family-owned businesses in the Middle East are renowned for being private but, according to a new study, a majority want to list on the region’s stock exchanges.

Family-owned businesses in the Middle East are renowned for being private but, according to a new study, a majority want to list on the region's stock exchanges.

As reported in Emirate Business, over 20% are already planning to go down the IPO route, while a further 30% intend to do so in the future.

Rami Nizzar, of Saudi Arabia based Arnest Wing who conducted the study, said those who have yet to start formal planning are holding back in order to keep hold of their fortunes.

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