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Middle East

May 24, 2013

Wealthy individuals in the Middle East prefer the privacy and trust of a single family office to the offerings of a multi-family office, new research from investment advisers Invesco has revealed.

Wealthy individuals in the Middle East prefer the privacy and trust of a single family office to the offerings of a multi-family office, new research from investment advisers Invesco has revealed.

As a result, the region’s SFOs dominate MFOs in popularity and the amount of assets under management.

May 17, 2013

The increasing role of women in executive roles is being heralded as one of the contributing factors to family business success in the Middle East.

The increasing role of women in executive roles is being heralded as one of the contributing factors to family business success in the Middle East, with new PwC figures revealing family businesses in the region are outperforming family businesses globally.

The Global and Middle East Family Business Survey 2012 also said Middle Eastern family businesses had been less affected than their international counterparts by the ongoing global economic situation.

April 23, 2013

The GCC might just have the highest concentration of family businesses in the world. 

Business means family business in the Gulf Cooperation Council – comprising the six states bordering the Persian Gulf, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Among the best known are such firms as the Kanoo Group in Bahrain and the Al Masaood Group in the UAE. Many, such as Obeikan, the Al Khorayef Group and the Zamil Group, come from Saudi Arabia, which is by far the region’s most populous country.

March 28, 2013

First-generation wealth still dominates fortunes in emerging markets, meaning that companies started by entrepreneurs in these regions haven’t yet established recognisable global brands.

First-generation wealth still dominates fortunes in emerging markets, meaning that companies started by entrepreneurs in these regions haven’t yet established recognisable global brands.

These are among the main findings of a new study by Forbes Insights and Societe Generale Private Banking, which found the majority – 78% – of emerging-market fortunes were first-generation and came from entrepreneurial ventures. Only 20% of those surveyed had inherited their wealth.

March 5, 2013

If they want a piece of the Middle East’s action, businesses have to do a deal with one of the region’s family-owned conglomerates. 

It’s 2010 and the new owners of Harrods have parked their luxury sports cars on a busy street outside the department store in Knightsbridge, rather than avail themselves of the valet service that their latest acquisition could provide. Sporting the renowned baby-blue colour of Qatar’s Al Thani royal family, the Koenigsegg CCXR and Lamborghini Murcielago LP670-4 SuperVeloce, two of the world’s fastest cars, were promptly clamped by parking inspectors.

December 17, 2012

Nearly one-third of family businesses in the Gulf Cooperation Council states have one or more female board members, according to research by the non-profit Pearl Initiative.

Nearly one-third of family businesses in the Gulf Cooperation Council states have one or more female board members, according to research by the non-profit Pearl Initiative. 
 


Imelda Dunlop, executive director of the Pearl Initiative, told CampdenFB: “It illustrates an openness among family firms in the GCC; they don’t regard board seats as being for male family members only.”
 


September 26, 2011

Citibank will support family businesses in Lebanon as part of its $155,000 (€115,000) programme aimed at helping institutions that promote education, entrepreneurship and microfinance in the middle-eastern country, the American bank announced on 26 September. 

Citibank will support family businesses in Lebanon as part of its $155,000 (€115,000) programme aimed at helping institutions that promote education, entrepreneurship and microfinance in the middle-eastern country, the American bank announced on 26 September.

Citi Foundation, the American bank's philanthropical arm, said it will promote the Family Business Initiative in Lebanon, a series of workshops developed by Citi in collaboration with the American University of Beirut and focusing on 50 Lebanese family businesses. 

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. 

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